Dividend Policy/Changes in Dividends
Dividend policy
The Company considers returning profits to shareholders to be one of the most important management issues. We will distribute profits based on performance, etc., with a target payout ratio of 60%.
Our basic policy for dividends from surplus is to pay an interim dividend and a year-end dividend twice a year.
*We have implemented a new interim dividend with September 30, 2021 as the record date.
We will continue to meet the expectations of our shareholders through management that increases sales, profits, and dividends.
Dividend per share and dividend trend
| 2013 March term | 2014 March term | 2015 March term | 2016 March term | 2017 March term | 2018 March term | 2019 March term | 2020 March term | 2021 March term | 2022 March term | |
|---|---|---|---|---|---|---|---|---|---|---|
| Annual dividend (yen) | 13 | 15 | 16.5 | 19 | 20 | 20.5 | 21 | 21.5 | 21.5 | 23 |
| Payout ratio (%) | 69.5 | 33.3 | 90.6 | 56.5 | 54.3 | 52.6 | 52.2 | 53.2 | 74.3 | 65.6 |
| Dividend on equity (DOE) (%) | 2.6 | 2.9 | 3 | 3.3 | 3.4 | 3.4 | 3.4 | 3.4 | 3.4 | 3.5 |
Annual dividend per share/dividend payout ratio
Dividend on equity ratio (DOE)
