You are given a context, a pronoun, and a noun in this task. The given pronoun is shown in the context within parentheses. You should determine if the pronoun refers to the given noun or not. Please answer with "True" and "False".
Q: Babar wonders how he can get new clothing. Luckily, a very rich old man who has always been fond of little elephants understands right away that he is longing for a fine suit. As he likes to make people happy, he gives him (his) wallet. <sep> Pronoun:his <sep> Noun: old man
A:
True