Lastly, let me touch on our target figures.
In FY2016, the last year of the mid-term plan, we aim to achieve a consolidated operating income of 120 billion yen.
We allowed an average annual increase of consolidated R&D expenses that was approximately 15% more than what it was in the the last mid-term plan and allocated a total of 250 billion yen for the five year period. Consolidated capital expenditures similarly include an average annual increase of approximately 25% and will total 330 billion yen for the five year period.
R&D and capital investments are indispensable to our corporate growth strategies and we intend to allocate ample funds where needed. At the same time we will do everything we can to maintain a lean operational structure where waste and loss is kept to a minimum in order to maximize profits.
Our basic policy for the shareholder returns is to provide continuous dividends in light of our financial performance each term, our capital investment plan and business environment. We are also looking at linking returns to financial performance as we move forward with an eye to improving ROE.