Dividend Policy and Payment

The Company has a policy to pay dividends at a rate of not less than 40 percent of net profits after taxes from the separate budget and after deducting all types of reserves as required by law or as specified by the Board of Directors or the shareholders’ meeting, as the case may be, will consider paying dividends while mainly considering the benefits to shareholders and the payment of dividends must not have a significant impact on normal operations. However, the payment of such dividends is subject to change and will depend on future needs and suitability and other factors related to the Company’s management as the Board of Directors and/or shareholders deem appropriate, such as operating results, business results and financial status, liquidity, business expansion plans including factors related to management, etc.

In case that the Company consider that it is appropriate to pay dividends, the Company must proceed in accordance with the laws, regulations, criteria, or other relevant announcements. The payment of annual dividends must be approved by the shareholders’ meeting except that it is an interim dividend payment. The Board of Directors may approve the payment of dividends during the period from time to time when it deems that the Company has enough profit to do so and when the interim dividend has been paid in order to make the dividend payment transparent. Such dividend payment shall be reported to the shareholders’ meeting at the next shareholders’ meeting.