Shareholder Return Policy

The Company will secure the necessary internal reserves for investing for business growth and strengthening its business structure, and will pay stable dividends to its shareholders with a payout ratio of 20% as the lower limit. Under this basic policy, the Company will work to balance growth investment and shareholder return.

With regard to the acquisition of treasury stock, after securing growth investments, the Company will flexibly proceed with the acquisition in consideration of the need under its capital policy as well as the impact on its financial position.

Changes in Dividends/Dividend Payout Ratio

Period Dividend per share Payout ratio ROE
Interim dividend Year-end dividend Annual dividend
FY2021(Forecast) 7.5yen 7.5yen 15.0yen 23.2% 22.5%
FY2020 7.0yen 7.0yen 14.0yen 31.0% 18.4%
FY2019 7.0yen 7.0yen 14.0yen 38.6% 16.3%
FY2018 6.5yen 6.5yen 13.0yen 18.0% 38.6%
FY2017 5.5yen 6.0yen 11.5yen 20.9% 40.0%
FY2016 5.5yen 6.0yen 11.5yen 32.3% 29.2%