We recently tried to buy back 10 billion yen worth of shares, but we were unable to spend the entire amount due to a lack of liquidity. After learning that we were unfortunately about 3 billion yen worth of shares short, I thought about how we could give back to our shareholders. As president, I believed our company had passed a milestone and grown, so I decided, instead of conducting another share buyback, I'd pay a commemorative dividend to our shareholders on March 31 in celebration of our 70th anniversary as a way of giving back to the various shareholders who have supported us.
The annual dividend is 36 yen, and I hope you will look at this as not just a one-time increase in the dividend, but a sign of more to come once we reach our targets.
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