1. Dividend Policy and dividend for this fiscal year

 The Company regards shareholder returns as one of our most important management issues. Our fundamental policy is to actively implement shareholder returns based on continuous and stable dividends, while securing internal reserves for making investments for corporate growth in the future and changing business environments and to build a strong financial structure.
 JAL has been adopted Dividend on Equity (DOE) in addition to the current dividend indicator, the payout ratio, as a reference.
Regarding the payout ratio, approximately 30% of net profit attributable to owners of parent excluding income tax deferred is considered as the proportion of profits paid out as dividends to shareholders. At the same time, JAL will aim for DOE of 3% or above, considering the target ROE level (10%) and the target payout ratio (30%). We will continue to further improve capital efficiency and realize stable shareholder returns.
Based on this policy, the dividend at the fiscal year-end is 57.50 yen per share. As a result, the annual dividend per share for the fiscal year ending March 2018, is 110 yen, including the interim dividend of 52.50 yen.

2. Fixed Date of Year-End-Dividend Payout and Starting Date of Payout

3. Dividend (Result)

4. Dividend Forecast