18/33 - Management Resources Allocation

◎Now, I will explain management resource allocation. As we advance our business and improve free cash flow, our policy will be to shift stages in our business management cycle. ◎First, for our financial platform we will maintain a current “A” credit rating. ◎Our growth strategy will involve continuing aggressive investments through fiscal 2020, after which we project our scope of investments to level off. ◎Then, we will enhance shareholder returns in order to meet the expectations of our investors. ◎Please see page 19.