(¥ billion) 1,057.7 1,124.1 1,103.8 1,046.9 982.6 0 1,200 900 600 300 2009 2006 2007 2008 2010 A difficult business environment  dragged down net sales by 6.1%.  40 40 40 40 40 0 50 40 30 20 10 2009 2006 2007 2008 2010 (¥) We maintain a policy of a dividend  payout ratio of at least 30% and kept the  dividend per share at ¥40. JS Group Corporation Annual Report 2010 09 –1.0 0 1.6 2.1 3.1 0.04 –0.5 4.0 3.0 2.0 1.0 2009 2006 2007 2008 2010 (%) The year ended March 31, 2010 was  abnormal because of the extraordinary  losses.  31.4 61.7 60.2 63.9 68.1 0 80 60 40 20 2009 2006 2007 2008 2010 (¥ billion) Generated cash flows from operating   activities of more than ¥60.0 billion, as  we do consistently. Net Sales  Operating Income and Operating Income Ratio Net Income (Loss) ROA  ROE Cash Flows From Operating Activities Equity Ratio  Total Equity per Share  Dividends per Share  43.8 57.0 35.7 25.6 26.0 0 0 2009 2006 2007 2008 2010 6.0 4.0 2.0 3.2 4.1 5.1 2.4 2.6 75 50 25 (¥ billion)  (%) ■■  Operating income  ■  Operating income ratio Structural reforms underpinned a 1.5%  increase.  22.1 35.2 17.7 0.5 –5.3 40 30 20 10 0 2009 2006 2007 2008 2010 –10 (¥ billion) Impairment losses resulted in a net loss.  –2.0 0 3.1 4.1 6.1 0.1 –1.0 8.0 6.0 4.0 2.0 2009 2006 2007 2008 2010 (%) Plan to return to around 5% in the year  ending March 2011.  49.0 52.1 51.7 51.4 50.6 49.7 53.0 52.0 51.0 50.0 2009 2006 2007 2008 2010 (%) Our target is around 50%.  1,913.12 1,998.58 1,983.79 1,903.69 1,842.78 0 2,000 1,500 1,000 500 2009 2006 2007 2008 2010 (¥) The net loss caused a slight decrease. 