Policy on Returning Profits to Shareholders

On May 12, 2023, we changed our shareholder return policy, in order to further clarify our stance of pursuing stable dividend growth through sustainable improvement of our profit.

This is based on our intention to return the fruits of our group’s growth, achieved through a virtuous circulation of funds, assets and capital, in a stable manner over the mid-to-long term. We will introduce a progressive dividend policy with respect to dividend per share, and determine the dividend payout ratio to be 40% or above.

More than ever, we will promote initiatives to achieve both financial soundness and stable profit growth, while considering short- and medium- and long-term timelines.

Dividend per share will be progressive, while aiming to increase the dividend per share through profit growth.

The dividend payout ratio will be determined at 40% or above.

Share repurchase will be implemented flexibly on the premise of securing sufficient capital, while balancing the use of capital for medium-to-long term profit growth and the effects of better capital efficiency.

As a result of the stock split (two-to-one) effective on January 1, 2024, the dividend forecast for the fiscal year 2023, which was announced at the beginning of the fiscal year, was revised to ¥110 per share.

For details of the stock split and the revision of dividend forecast, please refer to "Notice Regarding Stock Split and Revision of Dividend Forecast" released on November 28, 2023.