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 most 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 research and development, streamlining efforts, overseas expansion, investments in new businesses and resources for M&A activities, with an aim to strengthen the Company’s business position and enhance its corporate value.
In order to maintain capital strategies responsive to changes in the operating environment, the Company plans to decide obtaining more treasury shares by taking into account factors such as trends in stock price, capital efficiency and cash flow.

Dividend per share (Past 5 years)

Record date Interim Year-end Annual total
FY2017 (2018/3) 9 yen 17 yen (forecast) 26 yen (forecast)
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
FY2013 (2014/3) 10 yen 5 yen 15 yen