Basic Policy on Distribution of Profits Basic Policy on Distribution of Profits

Basic Policy of Capital Strategy

Based on the premise that long-term and continued growth in corporate value is fundamental to the creation of shareholder value, the Company deems the distribution of profits to the shareholders as the most important management priority.
With respect to the distribution of surplus, the Company makes dividend payouts based on semi-annual business performance with a target semi-annual payout ratio of 30%.
Retained earnings are devoted to research and development, streamlining efforts, overseas expansion, investments in new businesses and resources for M&A activities, with an aim to strengthen the Company’s business position and enhance its corporate value.
In order to maintain capital strategies responsive to changes in the operating environment, the Company plans to decide obtaining more treasury shares by taking into account factors such as trends in stock price, capital efficiency and cash flow.

Please see our latest Financial Results for the details.