Basic Policy Concerning Distribution of Profits

Our basic policy is to prioritize distribution of profits to shareholders as one of our key managerial policies and to distribute performance-based dividends while securing retained earnings to improve earnings and strengthen our corporate base. We make steady and stable distributions with a target 30% consolidated payout ratio. At the same time, the Company will purchase treasury stock flexibly, taking into consideration stock market trends, capital efficiency, and other factors.

Our intention with internal reserves is to reinforce a corporate culture that can respond to changes in the management environment and utilize the reserves for capital and development investment to achieve sustainable growth.

Our basic policy is to distribute surplus twice a year, as mid-term and term-end dividends.

Year 2019/9 2020/9 2021/9 2022/9 2023/9
Annual (yen) 32.0 25.0 33.5 32.0 50.0
Interim Dividend(yen) 5.0 5.0 5.0 5.0 5.0
Year end Dividend (yen) 27.0 20.0 28.5 45.0
(Ordinary dividend 35.0)
(Commemorative dividend10.0)
Dividend Payout
Ratio (%)
32.3 30.0 30.0 10.7 12.0

Dividends will be paid twice a year for the current fiscal year and the interim dividend was 5 yen per share. The year-end dividend is 45 yen per share, and the annual dividend is 50 yen per share (consolidated dividend payout ratio: 12.0%).
In addition, the total number of shares of treasury stock (on a contract basis)was 694 hundred shares, and the total acquisition cost was 1,269 million yen.
The total return ratio for the fiscal year under review will be 29.7% due to an annual dividend of ¥50.00 per share and share buybacks.

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