First, agile governance cycles are the double cycles as indicated in this slide. The inner smaller cycle is the so-called PCDA or plan-do-check-act cycle. This is often used for business management. However, it is not enough to run the PDCA only to achieve the governance goals because the environment, risks, and goals are continuously changing in a digitalized society. Therefore, we placed the larger outer cycle that means the continuous “conditions and risk analysis” and “goal-setting” prior to “system design”. Also, in order to realize the multi-stakeholder model, which I will mention next, sufficient “transparency and accountability” will be the key. This is the right-bottom line. In the agile governance model, each stakeholder is expected to run these cycles.