We have based our dividend policy on using retained earnings to make investments that will drive our growth and maximize corporate value. At the same time, since fiscal 2005, the company has also taken into consideration consolidated net income, as well as retained earnings available for dividends to directly return profits to shareholders in line with operating results in each fiscal year.
  Due to the existence of abundant investment opportunities, Mitsubishi Corporation's basic policy will continue to be to use retained earnings for investments that will drive growth while paying a dividend that reflects the amount of earnings. While also taking into consideration the need for funds to invest, the financial condition of the parent company and other factors, Mitsubishi Corporation will determine the dividend in a flexible manner with the target of a consolidated payout ratio of 15% or more.
  In accordance with the above policy, the Board of Directors today passed a resolution setting a dividend per common share of 46 yen applicable to fiscal 2007, higher than the 36 yen forecast announced in October 2006 after taking into consideration a host of factors, including growth in consolidated net income and the company's financial position. (The interim dividend applicable to fiscal 2007 was 18 yen per share, giving ayear-end dividend of 28 yen per share.)
  Mitsubishi Corporation plans to pay a dividend of around 46 yen per share for fiscal 2008, the same as fiscal 2007, providing it achieves its consolidated net income forecast of 400.0 billion yen.