Conclusion
Due to the downward revision of fiscal 2008 forecasts, we regret to announce we have lowered the forecast of our year-end dividend per share from 14 yen to 7 yen.
We take with utmost seriousness the revision of our financial results forecast and dividend forecast, and thus are taking measures including reduction of remuneration per month to Directors and Executive Officers, in order to clarify their managerial responsibilities.
For seven months from March to September in 2009, Directors and Executive Officers will take a reduction of remuneration per month of 30-5%, and Corporate Auditors will take a voluntary reduction of 5%.
Payment of bonuses to Board Members and Executive Officers will not be made in June 2009.
As a result, actual annual remuneration of Board Members and Executive Officers is to be reduced 50-30%.
Also, annual salary of managerial staff will be reduced 20-10%.
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