We position maximizing corporate value for our shareholders as one of our highest priority corporate objectives. Pursuit of this objective results in a focus on the efficient and dynamic use of capital. In order to continue making aggressive growth investments aimed at enhancing corporate value, our current basic dividend policy is to pay an annual dividend of 20.0 yen per share. When the level of earnings rises and consolidated dividend payout ratio falls to around 30%, we plan to reexamine the dividend policy.
Our basic policy is to pay dividends from surplus twice a year, an interim dividend and a year-end dividend.