Presentation Transcripts

Finally, I'd like to turn to the subject of shareholder returns. The big story in the stock market today is about all those companies that are increasing their dividends. Every company is different. If it has surplus cash, no debt, operates a single business to grow, it's okay to increase the dividend payout ratio as much as possible. In our case, however, we are now at that "Change to Grow" crossroads. I work for our shareholders and the most important thing is increasing profit per share. That's my mission. I don't think our shareholders really want a dividend increase of 1 or 2 yen now. We do have some wiggle room when it comes to increasing dividends and that's a good thing. Our shareholders may think I'm stingy for only giving a 12-yen dividend. More than being stingy, I thought about what we could do with that money beyond raising the dividend just a couple of yen. So today I made building our third factory in Cambodia official. It will be 31,500 m². When we built our first factory measuring 400 m x 70 m, everyone was concerned about its size. It was 28,000 m². This third factory will be far bigger than the first one. One of the reasons for building a larger factory is because we expect a steady flow of business opportunities heading upstream from downstream. That's why we are offering a 12-yen dividend for last fiscal year along with the promise of growth. It may take a little more than a year to complete the third Cambodian factory, for which we will soon be driving in the piles for the foundation. While we haven't decided on the final interior specifications like cleanrooms, etc., we'll design the factory so we can adapt it to meet any need that might come up in the future. I hope everyone realizes that this was all factored into our decision to pay a 12-yen dividend. We also purchased a factory, which we call Ban Wa II, from Takahata. Now that the nearby Ban Wa I has been transformed into an LED backlight component manufacturing factory, we'll move some of the facility we have there to Ban Wa II.