Shareholder Returns Policy

The Company strives to improve its sustainable performance to establish a strong management base, and puts priority on appropriately distributing profits to shareholders as a key management issue.

The Company’s specific policy is to distribute profits to shareholders while taking into account long-term consolidated operating results and also to acquire treasury stock for improving capital efficiency as appropriate.

Regarding the basic criteria for such distribution, the Company defines the total amount of dividends paid and treasury stock purchased as the “total return ratio.” Therefore, the Company’s goal for returning profits is to improve the total return to shareholders to around fifty percent, in other words, the targeted total returns to shareholders account for approximately half of the current term’s profit attributable to owners of parent, in light of the following points:

  • – To make capital and R&D expenditures and strategic investments that are essential to maximize the future value of the company.
  • – To make arrangements for essential infrastructure development, such as strengthening the risk management structure and developing human resources, and also dealing with changes in business environment.

======The VALQUA Group calculates the total return ratio as follows.======

Consolidated total return ratio = (total fiscal year dividends + treasury stock acquisitions based on fiscal year performance) ÷ fiscal year profit attributable to owners of parent


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