Investor relations Shareholder return (dividends)

Dividend Policy

The Company's dividend policy is to maintain stable dividend payment with the target of a 30% dividend pay-out ratio, and the Company shall decide dividends of surplus for each fiscal year by comprehensively considering the trend of financial results and prospect of capital investment, etc.

Furthermore, the Company's basic policy is to pay dividends twice a year—interim and year-end dividends—to return profits to its shareholders appropriately and timely. Its Articles of Incorporation provide that the Company may, by resolution of the Board of Directors, determine the payment of year-end dividends, interim dividends, and other dividends in accordance with the provision of Article 459 of the Companies Act.

Changes in Dividends Paid

Fiscal year Interim dividends Year-end dividends Annual dividends
Fiscal year ended March 31, 2020 9 yen 9 yen 18 yen
Fiscal year ended March 31, 2019 8 yen 8 yen 16 yen
Fiscal year ended March 31, 2018 7 yen 8 yen 15 yen
Fiscal year ended March 31, 2017 6 yen 6 yen 12 yen
Fiscal year ended March 31, 2016 6 yen 6 yen 12 yen

How to Receive Dividends

You can receive dividends by either an electric transfer to your bank account or cash dividend receipt at your registered address. The Company recommends shareholders who receive dividends by cash dividend receipt to use a bank transfer service because it is safer and more secure.

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