What is the policy as regards distribution of incomes? Dividends? Acquisition of treasury stock?

Our aim is to raise our dividend level stably while attending to the balance with prior investment. We are also adopting a flexible attitude to acquisition of treasury stock.

Stably raising our dividend levels and performing prior investment to ensure that the Group is able to continue growing and that shareholders obtain incomes in the future: these are the two actions we intend to take in a well-balanced manner. In addition, while paying attention to results and cash flow levels, we intend to acquire treasury stock and increase our capital efficiency. We are also incorporating provisions in the articles of association that will make it possible for us to distribute surplus funds on the basis of resolutions of the board of directors.

In line with this policy, we have decided this year to increase our year-end dividend to 36 yen per share and to increase the annual dividend by 20 yen over last year to 60 yen per share in line with the interim dividend per share of 24 yen issued in November last year. In addition, we have acquired 4.24 million of our own stock with a total value of ¥19.3 billion.