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The Company's policy with respect to dividends is to maintain stable payouts, while considering a payout ratio of around 30%. This reflects its commitment not only to ensuring ample retained earnings to strengthen its base of operations and expand its business, but also to according respect and importance to shareholders as a major management priority.
The payments of dividends are twice a year in the form of an interim dividend and a year-end dividend and the dates of record for dividends shall be March 31 of each year for the year-end dividend and September 30 of each year for the interim dividend.
The dividend per share and payment ratio for the last five fiscal years are as shown below.
The annual dividend per share for the fiscal year ending March 2012 is estimated at 120 yen (interim dividend of 60.00 yen, year-end dividend of 60.00 yen).
