Shareholder Returns
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Policy on Shareholder Returns
In order to contribute to sustainable growth and improvement of corporate value over the medium- to long-term, the Company’s basic policy concerning capital strategies is to strive to ensure financial soundness, and to balance investment for growth and shareholder returns. The Company discusses the appropriate distribution of shareholder returns in meetings of the Board of Directors and will strive to continuously enhance the shareholder value.
Regarding shareholder returns, the Company has a basic policy of paying stable dividends and striving to further increase shareholder returns based on business results while taking into consideration the balance with investments for growth. Furthermore, the Company will flexibly carry out initiatives, such as the acquisition of treasury shares, as necessary in order to contribute to improving shareholder value.
Trends in dividends per share
(Yen)
| Interim dividend | Year-end dividend | Annual dividend | Payout ratio (%) |
|
|---|---|---|---|---|
| FY2016 (96th Fiscal Year) | 6.0 (3.0) | 7.0 (3.5) | 13.0 (6.5) | 15.9 |
| FY2017 (97th Fiscal Year) | 7.0 (3.5) | 8.0 (4.0) (Including the special dividend of 1.0 yen) |
15.0 (7.5) | 25.6 |
| FY2018 (98th Fiscal Year) | 8.0 (4.0) | 8.0 (4.0) | 16.0 (8.0) | 21.3 |
| FY2019 (99th Fiscal Year) | 8.0 (4.0) | 8.0 (4.0) | 16.0 (8.0) | 28.2 |
| FY2020 (100th Fiscal Year) | 0.0 (0.0) | 5.0 (2.5) | 5.0 (2.5) | - |
| FY2021 (101st Fiscal Year) | 5.0 (2.5) | 5.0 (2.5) | 10.0 (5.0) | 22.0 |
| FY2022 (102nd Fiscal Year) | 5.0 (2.5) | 6.0（3.0） | 11.0（5.5） | 19.1 |
| FY2023 (103rd Fiscal Year) Forecast | 7.0 (3.5) | 7.0 (3.5) | 14.0 (7.0) | 17.5 |
- *The Company conducted a consolidation of shares (two shares into one) on October 1, 2017.
The number within the parentheses is the amount calculated pre-consolidation.