At the Board of Directors’ meeting held today, the Board resolved the payment of the dividend for the 4th quarter of FY2012 ending December 31, 2012 as well as the dividend policy for FY2013.

1. Contents of dividend for 4th Quarter of Fiscal Year 2012

   	Resolved	Most Recent Forecast (announced on October 30, 2012)
   Record Date	December 31, 2012	December 31, 2012
   Dividend per Share	5 yen	5 yen
   Total Amount of Dividend Paid	96 million JPY	-
   Effective Date	March 4, 2013	-
   Dividend Resource	Retained Earnings	-
   As of December 31, 2012, the total number of issued shares is 19,944,317 shares and of which 732,361 shares are treasury stocks. Therefore, 19,211,956 shares would be those for which the 4th quarter dividend be distributed.

    

2. Dividend Policy for Fiscal Year 2013
   There is no change in the Dividend Policy for Fiscal Year 2013.

   [Dividend Policy]

   • The Company shall decide on the base amount of annual dividend at the beginning of the next fiscal year in accordance with the annual business plan and basic dividend payout ratio (25%-30%) and divide it into quarters to pay on a quarterly basis. However, in order to ensure stable dividends, the base amount of annual dividend shall be 20 yen or more per share.
   • In addition, in order to have dividends reflect the consolidated business results, if the dividend amount calculated with consolidated net income and basic dividend payout ratio exceeds the base amount of annual dividend, the Company shall add the excess amount to the annual dividend when paying dividends for the fourth quarter. 
     

   The dividend payment schedule for Fiscal Year 2013 is:

   Fiscal Year	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter	Total
   2013 (plan)	5 JPY	5 JPY	5 JPY	5 JPY*	20 JPY*

   
   * Based on the dividend policy, if the dividend amount calculated with consolidated net income and basic dividend payout ratio exceeds the base amount of annual dividend, it is the Company's policy to add the excess amount to the annual dividend when paying dividends for the fourth quarter.

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