Dividends and Shareholder Return

Shareholder return policy

We have identified profit return to shareholders as an important management task. Our policy on shareholder return is to target a consolidated dividend payout ratio of 50% and to set the annual dividend amount to provide a dividend on equity (DOE) ratio of around 3–4%. At the same time, taking into account such factors as the level of cash flow in the respective fiscal year, funds generated from the balance sheet, profit level, investment plans, and the need to maintain a sound financial position, we are committed to using surplus funds for continuous and progressive share buybacks.

Dividends

For fiscal 2023, we set the year-end dividend at a total of ¥60 per share. For fiscal 2024, we plan an annual dividend of ¥62 per share based on the shareholder return policy set out above and the business results forecast.

Dividends over time (Yen)

■ Shareholder return

In accordance with our shareholder return policy, we conducted share buybacks worth approximately ¥20 billion in fiscal 2023, in addition to the above dividends. In fiscal 2024, we are planning share buybacks for a maximum total of ¥20 billion in shares. We will continue to apply our shareholder return policy with an eye to achieving stable dividends and improving ROE.