The Company’s policy on profit sharing for shareholders is to maximize it, while at the same time taking into account adequate levels of “realizing appropriate periodic profit returns to shareholders” and “maintenance of appropriate internal reserves that will enable flexible business operations.” In terms of profit sharing, based on this policy, the amount of dividends is set at 50% of net income (payout ratio of 50%) as a general rule. However, if the amount of dividends calculated at the payout ratio of 50% falls below the amount for the previous fiscal year, the amount is determined in consideration of the level of prior dividends after an adequate level of internal reserves is secured. In accordance with the medium- to long-term growth strategies, internal reserves are used mainly as funds for R&D and for new business developments in an effort to continually enhance corporate value. As an appropriate level for the scope of its business, the Company aims to hold three years of selling, general and administrative expenses as internal reserves, but also emphasizes management that recognizes capital efficiency from the standpoint of improving corporate value, and will execute capital measures that adequately consider the balance of both. Based on the above, the purchase of treasury stocks will be considered as a capital policy measure that takes into account a balance between maintenance of internal reserves and capital efficiency, while comprehensively taking into account factors such as improvement of capital efficiency and liquidity of stock.
Basic IR Policy
Standards for Timely Disclosure
Method of Timely Disclosure
No Investment Solicitation