At the Board of Directors’ meeting held today, the Board resolved the payment of the dividend for the 4th quarter of FY2013 ending December 31, 2013 as well as the dividend policy for FY2014.

1. Contents of dividend for 4th Quarter of Fiscal Year 2013

   	Resolved	Most Recent Forecast (announced on October 29, 2013)
   Record Date	December 31, 2013	December 31, 2013
   Dividend per Share	5 yen	5 yen
   Total Amount of Dividend Paid	116 million JPY	-
   Effective Date	March 4, 2014	-
   Dividend Resource	Retained Earnings	-
   As of December 31, 2013, the total number of issued shares is 23,944,317 shares and of which 732,667 shares are treasury stocks. Therefore, 23,211,650 shares would be those for which the 4th quarter dividend by distributed.

    

2. Dividend Policy for Fiscal Year 2014
   There is no change in the Dividend Policy for Fiscal Year 2014.

   [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 base amount of annual divided for fiscal year 2014 is 20 JPY.

   The dividend payment schedule for Fiscal Year 2014 is:

   Fiscal Year	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter	Total
   2014 (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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