Basic Policy Regarding Earnings Distribution

The Company considers providing returns to shareholders to be one of its highest priorities. Its basic policy is to continually provide a stable dividend, in a comprehensive consideration of such factors as sustainable profit levels, retention of earnings for future investment, and improving the financial position to provide shareholders returns, including the acquisition of treasury shares, with a target total return ratio (*) of 30%.


(*) Total return ratio = (total dividend + total amount of share buybacks) / profit attributable to owners of parent

FY2018 FY2019 FY2020 FY2021 FY2022 FY2023
Dividend Per Share(yen) 1Q ------
3Q ------
FY-End 40.0040.0040.0040.0040.0040.00
Total 40.0040.0040.0040.0040.0040.00
Amount of Dividends(million yen) 3,5513,5513,5523,5543,556-
Payout Ratio(%) 27.2-25.884.627.627.3
Ratio of Total Amount of Dividends to Net Assets(%)

*Based on a resolution at the 159th Annual General Meeting of Shareholders held on June 28, 2017, the Company consolidated shares on the basis of one new common share for every 10 common shares with an effective date of October 1, 2017. As a result, the number of shares of common stock per share unit was changed from 1,000 shares to 100 shares.

Acquisition of treasury stock

Not applicable.