Enhancing shareholder returns through a medium- to long-term average dividend payout ratio of 40% and growth investments and share buybacks
First written in FY2017. 3 of 5 entries say "Raised", first in FY2020. Latest entry: 2026-03-25.
28 other companies' latest entry also says "Raised".
- 2026-03-25RaisedGeneral Meetings of Shareholders
「Regarding shareholder returns, we will continue our existing dividend policy of maintaining an average payout ratio of at least 40% over the medium term and aim to increase dividends through earnings growth. In addition, the lower limit for annual dividends per share during the period of the Seventh Medium-Term Management Plan will be ¥145, above the ¥144 dividend paid for FY2025.」
The policy of an average payout ratio of at least 40% was maintained, while the lower limit for annual dividends during the Seventh Medium-Term Management Plan was set at ¥145. - FY2024RaisedAnnual report
「To set the medium-term average payout ratio at 40% or higher and further improve the stability of shareholder returns, we will set the annual dividend per share during the period of the Sixth Medium-Term Management Plan at a floor of ¥110 (the actual dividend for fiscal 2022), while seeking to enhance shareholder value through flexible share buybacks.」
In addition to the previous target of an average payout ratio of at least 40%, the company specified a minimum annual dividend of ¥110 during the period of the Sixth Medium-Term Management Plan, giving concrete form to its commitment to stable shareholder returns. - FY2022RestatedAnnual report
「Looking ahead 10 years, we will work to build a strong financial base, promote growth investment to achieve sustainable increases in corporate value, and enhance shareholder returns. Specifically, we will target a medium-term average payout ratio of at least 40% and aim for continued dividend growth.」
The company continues its shareholder-return policy combining growth investment, a strong financial base, an average payout ratio of at least 40%, and continued dividend growth. - FY2020RaisedAnnual report
「Looking ahead 10 years, we will work to build a strong financial base, promote growth investment to achieve sustainable increases in corporate value, and enhance shareholder returns. Specifically, we will target a medium-term average payout ratio of at least 40% and aim for continued dividend growth.」
The wording was strengthened from the previous average payout ratio of 40% to “at least 40%,” and continued dividend growth was explicitly stated. - FY2017First statedAnnual report
「The company recognizes the maximization of shareholder value as one of its key management priorities. In addition to pursuing growth in earnings per share through sustainable business growth, the company will comprehensively consider the profit or cash flow situation in each fiscal year and future business development, and will work to enhance shareholder returns through growth investment, an average medium- to long-term payout ratio of 40%, share buybacks and cancellations as appropriate, and improvements in asset efficiency.」
The company’s policy of capital allocation, combining growth investment, an average payout ratio of 40%, share buybacks and cancellations, and improved asset efficiency, was identified for the first time, with the maximization of shareholder value positioned as a key priority.