Shareholder Return

Shareholder Return Policy

Our basic policy is to enhance our corporate value by balancing (1) the securing of our retained earnings, which are necessary to ensure financial security in order for us to be able to respond to future changes in the economic environment and to maintain our growth strategy and (2) appropriate distributions of profits to shareholders with consideration paid to our cost of capital.

Basic Policy on Shareholder Return. Stable cash dividends based on group adjusted profit(realistic profit indicator). Dividend Payout Ratio:45% or more each fiscal year. Basically no reduction in annual dividends per share. (Note)Dividend payout ratio is calculated based on the historical three-year averages of group adjusted profit. Basically interim dividends will be paid. Consider additional payouts through share repurchases, etc. considering the economic solvency ratio(ESR),cash-flow and strategic investment opportunities. Total payout ratio(estimate):Medium-term average of 50%
  • *Total payout ratio = (dividends + stock repurchases) / (group adjusted profit)

Dividend History and Forecast

 Interim Dividend
(per Share)		Year-end Dividend
(per Share)		Annual Dividends
(per Share)
Fiscal Year Ending
March 31, 2026		24yen24yen48yen
Fiscal Year Ended
March 31, 2025		15.25yen
(61yen)		19yen
(76yen)		34.25yen
(137yen)
Fiscal Year Ended
March 31, 2024		-28.25yen
(113yen)		28.25yen
(113yen)
Fiscal Year Ended
March 31, 2023		-21.5yen
(86yen)		21.5yen
(86yen)
Fiscal Year Ended
March 31, 2022		-20.75yen
(83yen)		20.75yen
(83yen)
Fiscal Year Ended
March 31, 2021		-15.5yen
(62yen)		15.5yen
(62yen)
  • *The Company conducted a 4-for-1 stock split of shares of common stock on April 1, 2025 and the dividends for the fiscal year ended March 31, 2025 and prior are shown taking such stock split into consideration. Figures in parentheses represent actual dividends before the stock split.