Investor Presentaiton

Shareholder Returns • Secure stable dividend resources by working to further improve earnings while striving to ensure a stable management foundation and strengthen the financial position over the long term. • Continue to pay stable dividends by comprehensively considering the business environment, performance trends, capital investments, investment opportunities, and other factors. Annual dividend 【Diviends paid (\/%)】 28 Interim dividend: Not paid Year-end dividend: ¥25 30 Includes a commemorative dividend Dividend payout ratio (consolidated) 32.5 30 30 30 30 27.0 26.1 23.1 20.7 18.4 17.7 FY2014 FY2015 FY2016 FY2017 FY2018 70.4 25 25 25 25 Forecast 19.4 15.6 FY2019 The dividend payout ratio is not shown due to net loss FY2020 FY2021 FY2022 FY2023 * The Company implemented a 1 for 5 reverse stock split with an effective date of October 1, 2017. Annual dividends for fiscal 2017 and prior fiscal years have been restated to conform with the basis after the stock consolidation. NANKAI

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