Murata's basic policy on profit distribution to shareholders is to prioritize the sharing of gains through payment of dividends, and to steadily raise them by increasing profit per share, while enhancing Murata's long-term corporate value and strengthening its corporate structure. In accordance with this policy, our dividends are determined after comprehensively considering our business performance, Dividend on equity(DOE) and dividend payout ratio on a consolidated basis, as well as the accumulation of internal reserves necessary for reinvestment to ensure future development.
We also regard the repurchasing of our own share as an alternative means of returning profit to shareholders, and have been buying back shares in order to improve capital efficiency.