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FY24 operating EPS grew by 40% year-over-year. What proportion of this growth is attributed to new platforms versus the scaling of existing platforms, and how do you project this growth rate evolving in FY25?

Dividends were maintained at 6.0 cps for FY24, with guidance for FY25 at the same level. Given the increase in operating earnings, what is the rationale behind reinvesting retained earnings versus increasing shareholder returns?

The acquisition of StratCap brought $0.7 billion in AUM and entry into a new sector. How does HMC plan to scale this platform in North America, and what bolt-on opportunities are currently under evaluation?

HMC made its first seed investment in the Energy Transition platform, targeting a $2 billion+ fund launch in FY25. What specific asset types or projects are being prioritized, and how will HMC compete in this rapidly evolving sector?

AUM grew by 30% year-over-year to $12.7 billion. Could you provide a breakdown of the sources of this growth (e.g., organic vs. acquisitions) and outline the strategies for achieving the $20 billion medium-term target?

Operating margins increased from 62% in FY23 to 68% in FY24. What were the key cost control or efficiency measures that contributed to this improvement, and how sustainable are they in the medium term?