Notice of the 32Nd Ordinary General Meeting of Shareholders
(Translation) NOTICE OF THE 32ND ORDINARY GENERAL MEETING OF SHAREHOLDERS To Our Shareholders: We should like to extend our heartfelt gratitude for your continued understanding of business operations of West Japan Railway Group (the "Group"). The Group very seriously takes its responsibility for the train accident on the Fukuchiyama Line we caused on April 25, 2005 and the gravity of its consequences, and has continued to implement various measures in terms of both physical and intangible aspects to improve safety. In consideration of this, I, as well as all officers and employees of the Group, have determined to continue to faithfully perform our roles in our respective positions with a sense of responsibility to build a safer railway system. Last year, the Group launched a "JR-West Group Medium-Term Management Plan 2022" and its core component, a "JR-West Group Railway Safety Think-and-Act Plan 2022." Based on our resolve never to cause another accident like that on the Fukuchiyama Line, we will implement plans toward the realization of our corporate philosophy and management vision and contribute to the creation of "a safe and comfortable society filled with meetings among people and smiles" which is our vision. With regard to shareholder returns, we will pay stable dividends, aiming for a dividend payout ratio of approximately 35% in the fiscal year ending March 31, 2023. In addition, over the aggregate period up to March 31, 2023, the Company's yardstick will be a total return ratio of approximately 40%, and we will make flexible acquisitions of treasury stock. During the fiscal year under review, we acquired and cancelled 1,253,600 shares of common stock of the Company.
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