Dividend
ValueCommerce considers returning profits to its shareholders one of its most managerial important issues, and has adopted a basic policy to pay dividends in accordance with its performance, while maintaining certain retained earnings used for investments for its future growth. Meanwhile, to clearly demonstrate our stance of placing further premium on dividend payments, we establish a consolidated payout target of over 30%. Under this policy, ValueCommerce expects to pay year-end dividends of JPY 750 per share for the fiscal year ended December 2011. In this case, the expected payout would be 32.9%.
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