Reggie Fils-Aime (President & COO, Nintendo of America Inc.):
Good morning. We’re going to go ahead and get started. We know how busy this week is for everyone here. We greatly appreciate you joining us this morning to attend our session and we look forward to answering as many of your questions as we can over this next hour and a half.

On stage with me here is our Global President, Mr. Satoru Iwata.

Before we get started today, I wanted to take this opportunity to introduce two new members of the Nintendo of America executive team, and both of these new members will be people you will interface with quite a bit moving forward.

First is Scott Moffitt, who joins as our new Executive Vice President of Sales and Marketing, and will have sales-marketing responsibilities for all of the Nintendo of America territories.

The second is Cindy Gordon who joins as Vice President of Corporate Affairs and will lead our Corporate Communications, Public Relations activities, and that includes all of our analyst and Investor Relations activities out of Nintendo of America.

So before we open this up to questions, I wanted to take the opportunity to share Nintendo perspective on the U.S. market and suggest how Nintendo DS, Nintendo 3DS, Wii and the new home system, Wii U, fit into this future.

The data I’m going to show comes from two places — first, Nintendo periodically surveys users globally to determine any changes in game play of dedicated gaming systems. We’ll be sharing a little bit of that data from the most recent survey, as well as data from the NPD Group to help us frame what we see in this current market.

This first slide shows what’s happening with home consoles in this generation compared to the last. The way to read this is looking at the left side, you see the last generation with Nintendo in blue and the other dedicated gaming consoles in red; and then on the right, this generation.

Points to note — focusing on those red bars and looking at the combined sales of Sony and Microsoft home platforms are actually still down when you compare this generation versus the last generation. And it's important to note that U.S. households during this timeframe have grown by about 5% during this time, while the combined unit sales of those two platforms is actually down 9%. And then conversely, we know that the sales of the Wii have been more than three times those of the Nintendo GameCube.