■ Basic policy regarding distribution of profit (dividend policy)

BOOKOFF recognizes the distribution of profit as one of its most important management issues. Our policy is to use a benchmark dividend payout ratio of roughly 25% of consolidated net profit.
We aim to increase the dividend through the continuous growth of financial results while making efficient use of internal reserves to strengthen our financial position, and make strategic investments that will lead to the future strengthening of our business base.

Dividend payment	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018 (Forecast)
Dividend per share	¥25	¥25	¥25	¥25	¥10	¥10	¥10
Dividend payout ratio (consolidated)	43.6%	48.0%	335.1%	—	—	—	102.8%

^*Figures shown through FY2017 are for BOOKOFF CORPORATION LIMITED.