Despite having posted net profits, the Company has not paid dividends since its foundation through to and including this current business year, out of consideration that we deem it important to deepen our internal reserves, to strengthen our financial position toward a stable, long-term management base as well as to continuously expand and develop our business.
However, we recognize that the maximization of shareholder returns is one of our important management targets. Hence, we will adopt a basic policy of distributing dividends from surplus funds in the future, by comprehensively taking into account our financial position, trends in our business performance, our business and investment plans, among other factors, and striking a balance with internal reserves.
We intend to effectively utilize our internal reserves as funds to strengthen our financial position toward a stable, long-term management base as well as to continuously expand and develop our business.
In case that we do pay dividends of surplus in the future, our basic policy will be to distribute them once a year, with general shareholders' meetings being the decision making body for such a distribution. Meanwhile, our articles of incorporation stipulate that we may pay interim dividends upon a resolution made by the Board of Directors.