Dividends & Returns Dividends & Returns

Policies on the Distribution of Surplus

Based on the premise that long-term and continued growth in corporate value is fundamental to the creation of shareholder value, the Company deems the distribution of profits to the shareholders as the important management priority.
With respect to the distribution of surplus, the Company makes dividend payouts based on semi-annual business performance with a target semi-annual payout ratio of 30%.
Retained earnings are devoted to business investments for growth such as M&A, R&D, facility enhancements, with an aim to strengthen the Company’s business position and enhance its corporate value. If residuals are retained for a long time, the company will consider flexibly reviewing its dividend payout ratio and improving total shareholder returns by, for instance, repurchasing stock, taking into consideration our projected growth investments.

Dividend per share (Past 5 years)

Record date Interim Year-end Annual total
FY2018 (2019/3) 50 yen 25 yen (forecast) 75 yen (forecast)
FY2017 (2018/3) 9 yen 23 yen 32 yen
FY2016 (2017/3) 13 yen 12 yen 25 yen
FY2015 (2016/3) 10 yen 10 yen 20 yen
FY2014 (2015/3) 5 yen 10 yen 15 yen