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December 15, 2016


 December 15, 2016 Notification regarding Changes to the Basic Principles of the Dividend Policy  

 December 15, 2016 Notice regarding Revisions to Dividend Forecasts (Dividend to Commemorate Listing on the First Section of the Tokyo Stock Exchange)  

Changes to the Basic Principles of the Dividend Policy

(1)Principles of the Dividend Policy to Date

We, at Baroque Japan Group, are aware of the fact that the company is still in the process of growing, and we believe that our top priority at this time is to secure adequate internal reserves in order to strengthen our financial foundation to ensure long-term stability and continuous business expansion and development. However, as the maximization of profits for shareholders is one of our major management goals, it is our policy to consider how to balance future dividends for shareholders and internal reserves in light of factors such as company performance/financial status and future business/investment plans as a whole.

(2)Principles of the New Dividend Policy

From January 2018, the Company will adopt a basic policy aiming at a stable payout ratio of 30–40% in order to increase the return of profits to shareholders. Furthermore, we will also continue to secure adequate internal reserves in order to ensure the ongoing expansion and development of the business and strengthen our corporate structure to enable us to cope with changes in the industry and increased business competition.


* Information appearing in this page is accurate as of the release date, and is subject to change without prior notice.