Impress Holdings, Inc. Announces Dividend Policy Changes
Tokyo, May 12, 2005—Impress Holdings, Inc. (TSE: 9479), announced today that it will make the following changes to its dividend policy as of the fiscal year ending March 31, 2006, per a resolution passed at todayfs Board of Directors Meeting.
Dividend Policy Changes
1. The Companyfs dividend policy is to distribute profits to shareholders after taking into account the level of internal reserves available for strengthening the Groupfs financial position and investing in new growth. In the fiscal year ended March 31, 2005, the Company placed top priority on the enhancement of internal reserves and thus did not distribute dividends.
As of the fiscal year ending March 31, 2006, the Companyfs dividend policy will be to work to generate solid profits every fiscal period and distribute profits to shareholders in line with business performance and cash flows.
2. In the fiscal year ending March 31, 2006, the Company plans to distribute dividends as follows based on a policy of maintaining a dividend payout ratio of 20% of nonconsolidated net income each fiscal year and taking into consideration consolidated results forecasts.
Dividend Forecast for the Fiscal Year Ending March 31, 2006
| Interim dividends per share |
— |
| Year-end dividends per share |
¥350 |
| Annual dividends per share |
¥350 |
3. Under the Companyfs current shareholder benefit program, shareholders are sent presents twice a year. Shareholders listed on the shareholder register, including the beneficial shareholder register, or registered as holding one or more shares of the Company on March 31 and September 30 are sent their choice of one of the Groupfs publications or points that can be used to purchase items on the Companyfs online shopping site. However, the Company has decided to revise its shareholder benefit program in accordance with the changes in its dividend policy. Under the revised program, shareholders listed on the shareholder register or registered as of September 30 will be sent one present. In addition, the Company is considering making other changes to its shareholder benefit program as of September 30, 2005, and will make an announcement regarding relevant details as soon as they become available.
