The Company considers maintaining a core policy regarding the distribution of profits linked to the business performance of the Company and aims to pay stable dividends targeting a consolidated dividend payout ratio of 40%. Also, considering the aim to provide stable and continuous dividend payments, the Company deems to maintain an annual dividend of ¥20 per share regardless of consolidated profits of the Company. However, it is at the discretion of the Board to review this policy if the Company experiences losses in two consecutive years.


The Company’s normal operating procedure is to pay a dividend twice a year.

 

Retained earnings will be effectively used for research and development of advanced technologies, capital investment, overseas expansion, upgrading of information systems, development of new business fields, M&A investment, etc., while giving due consideration to maintaining and strengthening the soundness of our financial position.


The Company regards repurchase of treasury stock as a flexible profit return policy that complements the payment of dividends from retained earnings, while comprehensively taking into cash flow, retained earnings, and other factors.