Our Board of Directors continuously engages in discussions regarding the further enhancement of capital policies conscious of cost of capital and shareholder value, as well as the analysis and improvement of capital profitability. As part of such efforts, the Company has established a capital policy. Our basic policy is to aim for sustained improvement in shareholder value while maintaining sufficient shareholder capital necessary to promptly and certainly capture expanding business opportunities. The required capital level shall be reviewed appropriately in light of the following perspectives: (1) Sufficiency compared to risks accompanying business activities (2) Nurturing of existing businesses (3) Advance investments for sustained development from a long-term perspective For details of the capital policy principles established by the Company, please refer to our "Corporate Governance Guideline" (Article 8: Capital Policy) published on our website.