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Dividends

Basic Policy on Dividends

The Company’s basic policy is to pay shareholders a dividend corresponding to a consolidated payout ratio of at least 30%. In the event of a temporary weakening in business results, the Company will strive to maintain as stable a dividend as possible while comprehensively taking into account its financial position, trends in business results, and demand for funds for capital investment, research and development, and other investments for future business development.
The policy on internal reserves states that internal reserves be utilized to contribute to the enhancement of corporate value by means including future business development and strengthening of the business foundation.

The basic policy on payment of dividends is to pay dividends from the surplus twice a year in the form of an interim dividend and a year-end dividend. The decision-making bodies with respect to dividends from the surplus are the General Meeting of Shareholders for the year-end dividend and the Board of Directors for the interim dividend.

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