The Company constantly endeavors to increase the Group’s earning potential, recognizing growth in the corporate value and the provision of appropriate shareholder returns as the most important management priorities. Our basic policy is to provide continuous and stable returns to shareholders while taking consolidated business results and future capital requirements into consideration.
Based on the policy above, we have set stable shareholder returns as one of our Mid- to long-term economic value-based targets in the Medium to Long-Term Growth Strategy.
With respect to the use of internal reserves, we will provide for capital needs, such as capital investments, R&D spending, and M&A, for the purpose of further increasing corporate value, and will efficiently invest surplus funds with risks taken into account.
With respect to future dividends to shareholders, consistent with our policy of sustainable growth, we will endeavor to realize flexible and progressive dividends that provide dividend increase, targeting a consolidated payout ratio of around 40%.