We consider the return of profits to shareholders to be one of key management matters. We also believe that returns for shareholders will be realized by increasing our corporate value through proactive investment in human resources including hiring, business and capital investment, and capital and business alliances, while enhancing internal reserves with an eye toward sustainable growth over the medium to long term.

In the current fiscal year (the 5th fiscal year), we did not pay dividends for the reasons mentioned above, and prioritized the retention of internal capital reserves. Our policy on internal capital reserves is to utilize them for aggressive promotion activities in existing and new businesses, product development, further expansion of investment in human capital, and investment in M&A, with an aim to increase our long-term corporate value.

In the future, we plan to consider providing appropriate returns to its shareholders, such as dividends of surplus, taking into account its operating results and financial position, but it has currently not made a decision as to the possibility of paying dividends and when it will pay dividends.

If we decide to pay dividends, it may basically declare two dividend payments per fiscal year—one interim and one year-end dividend— as the Company’s Articles of Incorporation provide that it may pay an interim dividend. Furthermore, pursuant to Article 459, Paragraph 1 of the Companies Act, the Company’s Articles of Incorporation provide that, unless otherwise provided in laws and regulations, the Board of Directors is the decision-making body in respect of the distribution of surplus.