 Japan is doing all right and as expected, unlike unexpectedly. That's my interpretation. During the past 12 month period, at least, Japan's economy is doing an excellent job. Let's put it. The labor market, you correctly pointed out, the tightest during the past half century perhaps. Corporate profits highest ever. Well, to the extent I know, I don't know pre-World War II history, whatever. But the highest in terms of yen amount and also in terms of return on equity, return on sales as well. So corporate profitability is very, very comfortable. Labor market tight, but inflation still low. Japan's CPI inflation is now running below 1% despite all this. So BUJ study says that inflation expectation is anchored around 0%. While 2% in the US and 1% in the Eurora area according to Federal Reserve and ECB studies. So inflation is low and reflecting this or each other, inflation expectation is low. Many pundits say that the Phillips curve has become flat or flatter than in the past, at least. They say there have been structural shifts in inflation dynamics. Therefore don't worry about inflation. That's perhaps the majority's view of economists. I'm afraid that they are simply so myopic as to believe that this time is different. In my view, the Phillips curve is really a curve. It's not a straight line. Phillips line is a curve in which there is an inflection point. In case of Japan, the inflection point appeared in history when the unemployment rate was below 3%. Sometimes 2.4, other times 2.2 or 2.8. I think in order to see the inflection point, you need perhaps a trigger, some event. Accident of a big chemical plant or that spur people to reassess inflation prospects. That's my view, minority view definitely. Let's discuss that flat Phillips curve of Phillips line later. The bottom line is shouldn't be too complacent in thinking that this performance can just be sustained as it is indefinitely. Can I also ask, we're going to come back around to it. Is the Bank of Japan correct to continue with its highly expansionary policy of keeping the 10-year bond yield at zero? Well, first of all, in my opinion, they want to change inflation expectation and stabilize inflation expectation around 2%. The basic strategy is to have people experience 2% before they change policy stance. Seeing is believing. In the economist term, inflation expectation is more adaptive than rational or more backward looking than forward looking. So people have to see actual inflation by the eyes before they believe that the inflation is reality. I think that's the basic policy of the BUJ, so they stick to their guns. Thank you.