The Company believes its prioritization of strategic investments as well as capital expenditures for sustainable revenue growth and increasing the value of its business will benefit its shareholders. In addition, the Company views an appropriate shareholder return as one of its core management principles. While giving due consideration to providing a stable return and maintaining robust internal reserves for the future, the Company intends to pursue a comprehensive shareholder return policy that also takes into account its business results and future funding needs.
Specifically, the Company aims to stably increase dividends on the basis of profit growth with a targeted consolidated payout ratio of 30% or more of profit for the year attributable to owners of the Company(Note). Looking to the medium- and long-term, the Company will also consider increasing the payout ratio depending on such factors as its need for funds and progress in profit growth.
(Note) The payout ratio used for the year-end dividend for fiscal years until the fiscal year ended December 31, 2017, was a payout ratio based on net income attributable to owners of the parent before amortization of goodwill (sum of net income attributable to owners of the parent and amortization of goodwill based on Japanese GAAP).