Dividends Policy

Basic Policies on Profit Distribution

The Company considers that the policies on shareholder dividends are some of the most important issues, and basically strives to pay steady and continuous dividends, strengthen and expand its earnings base corresponding to the rapid changes and development of industries, and accumulate internal reserves for active business development in the future.

Although the Company basically aims to pay steady dividends at each term-end, they will be paid in conjunction with performance results so that the Company can achieve a dividend payout ratio of 30%.

Dividends per Share

Notes:

1. On November 30, 2003, the Company conducted a 3-for-1 stock split (free issue) of ordinary shares. As a result, interim dividends of ¥2,000 for the fiscal year ended March 31, 2004, represent the amount prior to the split, while year-end dividends were paid after the spit. Compared on a pre-split basis, full-year dividends for the fiscal year ended March 31, 2004, amounted to ¥7,580 (interim dividend of ¥2,000, ordinary dividend of ¥3,180, and commemorative dividend of ¥2,400)
2. On July 20, 2005, the Company conducted a 3-for-1 stock split (free issue) of ordinary shares. As a result, dividends for the fiscal year ended March 31, 2006, compared on a pre-split basis, were ¥4,350 for the full year ended March 31, 2006.