We position appropriate profit returns to our shareholders as one of our most important management priorities. Our basic policy is to maintain a balance between retaining internal reserves necessary for strengthening our financial position and expanding business, while implementing stable shareholder returns.
However, as we are currently in a growth phase, we believe that strengthening our financial base, building up internal reserves, and executing necessary investments for business expansion will ultimately lead to maximizing returns to our shareholders. Therefore, we have decided to forego dividend payments for the time being.
On the other hand, as part of our shareholder returns, we have repurchased our own shares in the past. Moving forward, we intend to continue flexibly considering and executing share buybacks, taking into comprehensive account factors such as our current financial position and stock price trends.
When distributing dividends of surplus, our basic policy is to pay a year-end dividend once a year, with a record date of March 31. In addition, our Articles of Incorporation stipulate that an interim dividend with a record date of September 30 may be paid. Furthermore, our Articles of Incorporation stipulate that matters set forth in each item of Article 459, Paragraph 1 of the Companies Act, including the distribution of surplus, may be determined by resolution of the Board of Directors, unless otherwise provided by laws and regulations.