Return to Shareholders
Notice of Shareholder Returns
Basic Policy and Past Initiatives
Our Company has positioned returning profits to shareholders as one of the highest priority management policies. In order to pay dividends to our shareholders in a stable manner over the long term, Our Company has its basic policy on profit distribution to "expand profits from business activities through sustainable growth and distribute profits in a stable manner over the long term."
Dividend Policy
In line with our basic policy, we have set our dividend policy to "maintain a minimum of 3.5% ratio of dividends to net assets*1 with a target payout ratio*2 of 50%, as based on consolidated financial results." We plan to pay an annual dividend of ￥101 per share for the fiscal year ending March 31,2024.
Based on this policy, in consideration of factors such as the current financial situation, improved business profitability, and the level of the ratio of dividends to net assets, etc., we have revised our dividend policy as follows.
Former Dividend Policy (until FY 2023)
Maintain a minimum of 3.5% ratio of dividends to net assets with a target payout ratio of 50%, as based on consolidated financial results.
New Dividend Policy (changed from FY 2024)
Guideline of a ratio of dividends to net assets of 5.0% and a dividend payout ratio of 50%, as based on consolidated financial results.
For the fiscal year ending March 31, 2025, we plan to pay an annual dividend of ￥108 per share, applying the revised dividend policy.
- *1[Ratio of dividends to net assets = Total dividends / Net assets].
It is an indicator to see how much of the assets entrusted by shareholders are returned to them in the form of dividends. If net assets are not negative, dividends are always paid. We use this ratio of dividends to net assets in addition to the dividend payout ratio in order to pay stable dividends. - *2[Payout ratio = Total dividends / Net income].
It is an indicator to see how much of the net income is returned to shareholders in the form of dividends. Since dividends are linked to profits, larger profits result in larger dividends, while smaller profits result in smaller dividends.