SHAREHOLDER RETURN

Basic Policy of Shareholder Return

The Company recognizes profit return to shareholders as an important management issue and its basic policy is to target a consolidated payout ratio of 45-50%, considering capital needs for investments in business growth and improving internal reserves for strengthening the business foundation.In cases where extraordinary income or losses are expected, the payout ratio is calculated excluding such extraordinary items.
The Company’s dividends of surplus are paid twice a year as an interim dividend and year-end dividend as a basic policy, and the body for making decisions regarding these dividends of surplus is the Board of Directors for interim dividends and the shareholder meeting for year-end dividends. The Company’s Articles of Incorporation stipulate that it may pay an interim dividend with October 31 every year as a record date by a resolution of the Board of Directors.