Yahoo! Japan : Notice of Cash Dividend Paid from Retained Earnings

To whom it may concern
April 24, 2012
Yahoo Japan Corporation
Masahiro Inoue, President
Stock code: 4689

Notice of Cash Dividend Paid from Retained Earnings

Yahoo Japan Corporation today announced a cash dividend from retained earnings to be paid to shareholders of record on March 31, 2012.
1. Details of Cash Dividend

	Decided Amount	Most Recent Forecast (As of Jan. 25, 2012)	Previous Fiscal Year
Record date	March 31, 2012	March 31, 2012	March 31, 2011
Dividend per share	¥347.00	¥336.00 ~ ¥342.00	¥318.00
Total dividend amount	¥20,127 million	--	¥18,443 million
Effective date	June 7, 2012	--	June 9, 2011
Source of funds	Retained earnings	--	Retained earnings

Our policy for returning profits to shareholders is to accumulate internal reserves for strengthening our corporate structure and for future business development, and at the same time, to strive to earn a profit annually and flexibly pay dividends in accordance with business performance. Based on that policy, we are targeting a 20% dividend payout ratio on consolidated net income for the fiscal year ended March 31, 2012. The approval in the board meeting scheduled for May 2012 after the submission of auditors' reports is a prerequisite condition for the cash dividend indicated above.
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