Shareholder Return

Policy on Shareholder Returns

We regard the return of profits to our shareholders as an important management issue. Dividends to shareholders will be decided in consideration of the financial condition of the Company, business performance trends, future demand for funds, etc.
Regarding the year-end dividend for the fiscal year ending March 2021, we have decided to pay an ordinary dividend of 32 yen per share based on the above policy.
In addition, in the new medium-term management plan starting from the fiscal year ending March 2021, we measure the cash generation output of our group businesses and basically return to shareholders through cash flow-conscious management. The dividend forecast has not been decided due to the fact that the earnings forecast is not disclosed due to the application of International Financial Reporting Standards (IFRS).
We will continue working to further better our performance to meet shareholder expectations and enhance our long-term, continual shareholder returns.

Transition of Dividends

FY15.6
(JGAAP)

FY16.6
(JGAAP)

FY17.7
(JGAAP)

FY18.3
(JGAAP)

FY19.3
(IFRS)

FY20.3
(IFRS)

FY21.3
(IFRS)

Ordinary dividend

5JPY

15JPY

20JPY

24JPY

28JPY

28JPY

32JPY

Commemorative dividend

20JPY

(20th anniversary)

15JPY

(Commemorative dividend on the occasion of the move to the TSE first section)

-

-

-

10JPY

(25th anniversary)

-

Total cash dividends

11.7
billion JPY

14.1
billion JPY

9.4
billion JPY

11.3
billion JPY

12.8
billion JPY

17.5
billion JPY

14.7
billion JPY

Purchase of treasury shares

-

-

-

-

50
billion JPY

-

-

Ordinary dividend payout ratio

4.6%

13.7%

22.0%

20.7%

13.3%

17.4%

15.1%

Total return ratio

23.1%

27.3%

22.0%

20.7%

64.3%

23.5%

15.1%

Dividend payout ratio to Business cash flow before income taxes

-

-

-

-

-

51.2%

20.6%