Capital Structure Policy and Dividend Policy

Our policy is to sustain growth and maximize corporate value through global growth initiatives that balance earnings growth, capital efficiency and financial soundness. For this, we will continue to utilize retained earnings for investments to drive growth, with the aim of achieving average ROE of at least 15% over the medium and long terms.

In terms of our dividend policy, we aim to increase the annual dividend per share through earnings growth, with a targeted consolidated payout ratio of 20%, and thereby increase shareholder returns. In this vein, we will also purchase treasury stocks flexibly depending on earnings growth, progress with our investment plans and other factors.

The Board of Directors passed a resolution setting a dividend per common share applicable to fiscal 2008 of 56 yen, higher than the 52 yen initially forecast, in light of net income of 462.8 billion yen exceeding our October 2007 earnings projection. (The interim dividend applicable to fiscal 2008 was 26 yen per share, making the year-end dividend 30 yen per share.)

Mitsubishi Corporation plans to pay a dividend of 72 yen per share for fiscal 2009 in accordance with the above policy, providing it achieves its current consolidated net income forecast of 580.0 billion yen.

	Dividend per Share
(Record Date)	September 30	March 31	Annual
FY2007	¥ 18.00	¥ 28.00	¥ 46.00
FY2008	26.00	30.00	56.00
FY2009 (Forecast)	36.00	36.00	72.00