Major Shareholders

The holding ratios are computed net of this treasury stock.

Shareholders’ Returns

Basic Policy Concerning Profit-sharing

From a long-term perspective, we are focusing on expanding profitability and maintaining a solid financial base, with the basic policy of returning the fruits of such management efforts to our shareholders in a proper and stable manner. We strive to increase our corporate value by the aggressive and timely use of internal reserves for enhanced global competitiveness, further business development and further growth. Further, we will maintain our solid financial base to enable us to face the increasing frequency and amplitude of economic fluctuations that may occur. Based on this policy, we approach our capital policy with careful attention to the Return on Equity and the Cost of Capital. Shareholder returns are at the core of this. While considering various circumstances, we have aimed for stable dividends at a dividend payout ratio of around 35% in the mediumto long-term. The dividend payout ratio for the past 10 years was 31%. We will continue to take various factors into consideration as we work to raise our dividend payout ratio to 40% over the medium to long term. Also, we will determine the need for purchase of treasury stocks.

Repurchase of treasury stock in the past five years

*Excluding acquisition of treasury stock for the purpose of Issuance of Stock Acquisition Rights in the form of Stock Options .

Ratings

Analysts’ Coverage

Stock Performance