Dividend Policy
In determining dividends, the Company aims to increase returns to shareholders in response to stronger consolidated results. In that process, the Company gives comprehensive consideration to its financial position, earnings trends, dividend payout ratio as well as reserves for future business investment.
The Company pays dividends twice a year from its surplus: an interim dividend and a year-end dividend. The decision on whether to pay dividends lies with the Board of Directors.
The Company regards the acquisition of treasury shares as one means of returning profits to shareholders, and will consider any such acquisitions taking into account share price trends and shareholder return via dividend payments.
Transition of Dividend per Share
| Dividend per Share (JPY) | |||
|---|---|---|---|
| Six-month Period End | Year-end | ||
| FY Ending March 2023 (Forecast) |
52 | 26 | 26 |
| FY Ended March 2022 * | - | 70 | 23.34 |
| FY Ended March 2021 | 135 | 65 | 70 |
| FY Ended March 2020 | 130 (Ordinary Dividend 110) (Commemorative Dividend 20) |
65 (Ordinary Dividend 55) (Commemorative Dividend 10) |
65 (Ordinary Dividend 55) (Commemorative Dividend 10) |
| FY Ended March 2019 | 100 | 50 | 50 |
| FY Ended March 2018 | 95 | 47.5 | 47.5 |
| FY Ended March 2017 | 90 | 42.5 | 47.5 |
| FY Ended March 2016 | 75 | 35 | 40 |
| FY Ended March 2015 | 50 | 25 | 25 |
| FY Ended March 2014 | 40 | 20 | 20 |
| FY Ended March 2013 | 36 | 18 | 18 |
| FY Ended March 2012 | 32 | 16 | 16 |
* The company implemented a stock split by a ratio of three shares per share with an effective date of October 1, 2021. The amount of the fiscal year-end dividends per share of FY2021 (Forecast) is presented taking the stock split into account. Without taking into account the implementation of the stock split, the annual dividend per share will be ¥140.00 (¥70.00 at six-month period end and ¥70.00 at the fiscal year-end).
