Capital policy involving share repurchases without paying dividends
First written in FY2016. 15 of 30 entries say "Advanced", first in FY2017-Q1. Latest entry: 2026-08-07.
95 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「From the fiscal year ending March 2026 through the fiscal year ending March 2028, the company will acquire treasury shares quarterly in an amount equivalent to 30% of quarterly net income.」
The company disclosed a policy of acquiring treasury shares each quarter from the fiscal year ending March 2026 through the fiscal year ending March 2028 in an amount equivalent to 30% of quarterly net income, in connection with funding for the operation of the employee stock benefit trust and related matters. - FY2026-H1AdvancedAnnual report
「Based on a resolution of the Board of Directors held on 12 February 2025, the company acquired 398,600 treasury shares. Based on a resolution held on 14 May 2025, it acquired 805,400 treasury shares. Based on a resolution held on 8 August 2025, it acquired 79,200 treasury shares. As a result, treasury shares increased by ¥2,911 million during the interim consolidated accounting period, resulting in treasury shares of ¥3,801 million at the end of the interim consolidated accounting period.」
Even under the policy based on a 60% payout ratio, the company carried out multiple treasury share acquisitions and acquired ¥2,911 million of treasury shares during the interim period. - FY2025Treasury share acquisitions were also carried out under the dividend policy.Annual report
「Status of the resolution by the Board of Directors (12 February 2025) (acquisition period: 13 February 2025 to 14 May 2025): 1,000,000 shares; ¥1,620 million.」
Even under the 60% payout ratio policy, the company acquired 397,300 treasury shares for ¥890 million during the fiscal year pursuant to the February 2025 resolution. The company changed from its previous policy of paying no dividend and repurchasing shares to a structure combining dividends and share repurchases. - FY2025-H1AchievedAnnual report
「At a meeting of the Board of Directors held on 14 May 2024, the company resolved to pay a year-end dividend to shareholders recorded in the shareholder register as of 31 March 2024, as follows: ① Total dividend: ¥3,817 million; ② Dividend per share: ¥96.15; ③ Effective date of dividend receivables and payment commencement date: 24 June 2024.」
For the fiscal year ended March 2024, the company resolved to pay a year-end dividend of ¥3,817 million, or ¥96.15 per share. - FY2024AchievedAnnual report
「Treasury shares acquired during the fiscal year: 1,047,100 shares; ¥2,816 million.」
The company acquired 1,047,100 treasury shares for ¥2,816 million pursuant to the May 2023 resolution and cancelled 1,047,484 shares. Implementation of the previous policy using treasury share acquisitions has been completed, and the company has since moved to a 60% payout ratio policy. - FY2024-Q3ReframedAnnual report
「The company will appropriately manage its cash allocation, placing importance on balancing improved capital efficiency, the maintenance of financial soundness and enhanced shareholder returns.」
Following the acquisition and cancellation of ¥2,817 million of treasury shares resolved in May 2023, the company changed its capital policy to one of stable shareholder returns through dividends with a 60% payout ratio, rather than share repurchases, assuming a sufficient cash position going forward. - FY2024-Q2AdvancedAnnual report
「At a meeting of the Board of Directors held on 29 September 2023, the company resolved to cancel treasury shares. Following the cancellation on 10 October 2023, the total number of issued shares decreased by 1,047,484.」
The company acquired a cumulative 1,047,100 treasury shares for ¥2,817 million in the May 2023 acquisition and subsequently cancelled 1,047,484 shares on 10 October 2023. - FY2024-Q1AdvancedAnnual report
「Based on a resolution of the Board of Directors made in May 2023, the company acquired 287,700 treasury shares. Including purchases of fractional shares, treasury shares increased by ¥820 million during the first quarter of the current fiscal year, resulting in treasury shares of ¥821 million at the end of the first quarter.」
Based on the treasury share acquisition policy announced for FY2023, the company executed the acquisition of 287,700 treasury shares for ¥820 million pursuant to the May 2023 resolution of the Board of Directors. - FY2023ReframedAnnual report
「For the fiscal year, the company will not pay a dividend and will instead repurchase ¥2,817 million of its own shares, equivalent to 30% of net income attributable to owners of the parent excluding share-based compensation expense. As a result, the total payout ratio will be 73.6% relative to net income attributable to owners of the parent after recording share-based compensation expense.」
The company changed its capital policy from paying a regular dividend in the previous fiscal year to making no dividend payment and repurchasing ¥2,817 million of its own shares in the current fiscal year. - FY2023-Q1AchievedAnnual report
「At a meeting of the Board of Directors held on 13 May 2022, the company resolved to pay a year-end dividend to shareholders recorded in the shareholder register as of 31 March 2022, as follows: ① Total dividend: ¥968 million; ② Dividend per share: ¥24.00; ③ Effective date of dividend receivables and payment commencement date: 27 June 2022.」
For the fiscal year ended March 2022, a regular dividend of ¥968 million, funded from retained earnings and equivalent to ¥24 per share, was paid on 27 June. - FY2022RestatedAnnual report
「In accordance with the policy described above, a regular dividend of ¥24 per share, equivalent to 30.8% of net income attributable to owners of the parent, will be paid for the fiscal year.」
The company continued to return capital through dividends rather than share repurchases, paying a regular dividend of ¥24 per share with a payout ratio of 30.8%. - FY2022-Q1AchievedAnnual report
「At a meeting of the Board of Directors held on 10 May 2021, the company resolved to pay a year-end dividend as follows to shareholders recorded in the shareholder registry as of 31 March 2021: (1) Total dividends: ¥2,663 million; (2) Dividend per share: ¥66.00; (3) Effective date of dividend receivable rights and dividend payment date: 28 June 2021」
A year-end dividend of ¥66 per share, comprising a regular dividend of ¥32 and a special dividend of ¥34, was paid, for a total of ¥2,663 million. - FY2020-Q1AchievedAnnual report
「Total dividends: ¥2,499 million Dividend per share: ¥61.93 Effective date of dividend receivable rights and dividend payment date: 24 June 2019」
Under the policy decided for FY2019 of paying ordinary and special dividends instead of repurchasing shares, the company paid total dividends of ¥2,499 million, or ¥61.93 per share, on 24 June. This comprised an ordinary dividend of ¥36.93 and a special dividend of ¥25. - FY2019ReframedAnnual report
「Based on the above shareholder return policy, the company determined that its current share price was undervalued relative to its earnings growth. However, after comprehensively considering changes in the operating environment and other factors, it decided to pay an ordinary dividend of ¥36.93 per share instead of repurchasing shares. In addition, the Group surpassed 20,000 technical employees during the current consolidated fiscal year, the highest number in the manufacturing staffing industry, and achieved record-high results of ¥101.1 billion in net sales and ¥8.0 billion in operating income. As it marked its 25th year since founding on 14 April 2019, the Group will pay a special dividend of ¥25 per share to express its appreciation for shareholders' continued support.」
The company changed from a phase in which share repurchases were the primary means of shareholder returns to a policy of paying an ordinary dividend of ¥36.93 and a special dividend of ¥25 instead of repurchasing shares. - FY2019-Q3RestatedAnnual report
「The company carried out both a share repurchase under a resolution of the Board of Directors dated 10 May 2018 and a cancellation of treasury shares under a resolution dated 23 July 2018, in order to increase the value of its shares and improve the balance of investment in future growth through improved capital efficiency and the supply-demand balance, and to enable the execution of an efficient capital policy.」
The company reconfirmed the repurchase of 293,300 shares for ¥1,060 million in May 2018 and the cancellation of 293,333 shares in July as measures taken under its capital policy. - FY2019-Q2AdvancedAnnual report
「The company carried out both a share repurchase under a resolution of the Board of Directors dated 10 May 2018 and a cancellation of treasury shares under a resolution dated 23 July 2018, in order to increase the value of its shares and improve the balance of investment in future growth through improved capital efficiency and the supply-demand balance, and to enable the execution of an efficient capital policy.」
The company repurchased 293,300 shares for a total of ¥1,060 million from 11 to 21 May 2018 and cancelled 293,333 shares on 31 July 2018. - FY2019-Q1AdvancedAnnual report
「At a meeting of the Board of Directors held on 23 July 2018, the company resolved to cancel treasury shares pursuant to Article 178 of the Companies Act and cancelled them on 31 July 2018. (1) Class of shares to be cancelled: common shares (2) Number of shares to be cancelled: 293,333 shares (0.7% of total issued shares before cancellation) (3) Cancellation date: 31 July 2018 (4) Total issued shares after cancellation: 40,363,067 shares」
Following the share repurchase, the company cancelled 293,333 shares, or 0.7% of total issued shares, on 31 July 2018. - FY2018AdvancedAnnual report
「Status of resolution at the Board of Directors meeting (10 May 2018): 415,000 shares, ¥1,061 million; treasury shares repurchased during the period: 293,300 shares, ¥1,060.818 million」
Following the repurchase of 359,500 shares for ¥609.862 million in the previous fiscal year, the company completed the repurchase of 293,300 shares for ¥1,060.818 million under the resolution adopted in May 2018 by the filing date. - FY2018-Q3RestatedAnnual report
「The company carried out both a share repurchase under a resolution of the Board of Directors dated 11 May 2017 and a cancellation of treasury shares under a resolution dated 25 July 2017, in order to increase the value of its shares and improve the balance of investment in future growth through improved capital efficiency and the supply-demand balance, and to enable the execution of an efficient capital policy.」
The company reconfirmed the repurchase of 359,500 shares for a total of ¥609.862 million in 2017 and the cancellation of the same number of shares as measures taken under its capital policy. - FY2018-Q2AdvancedAnnual report
「The company carried out both a share repurchase under a resolution of the Board of Directors dated 11 May 2017 and a cancellation of treasury shares under a resolution dated 25 July 2017, in order to increase the value of its shares and improve the balance of investment in future growth through improved capital efficiency and the supply-demand balance, and to enable the execution of an efficient capital policy.」
In addition to repurchasing 359,500 shares for a total of ¥609.862 million, the company cancelled the same number of shares on 31 July 2017. - FY2018-Q1AdvancedAnnual report
「The company repurchased shares under a resolution of the Board of Directors dated 11 May 2017, in order to increase the value of its shares and improve the balance of investment in future growth through improved capital efficiency and the supply-demand balance, and to enable the execution of an efficient capital policy. Share repurchase period: 12 May 2017–8 June 2017; shares repurchased: 359,500 common shares; total repurchase amount: ¥609,862,700.」
Following the previous fiscal year's share repurchase, the company completed the repurchase of 359,500 shares for a total of ¥609,862,700. - FY2017-Q3RestatedAnnual report
「The company carried out both a share repurchase under a resolution of the Board of Directors dated 12 May 2016 and a cancellation of treasury shares under a resolution dated 10 August 2016, during the following period, in order to increase the value of its shares and improve the balance of investment in future growth through improved capital efficiency and the supply-demand balance, and to enable the execution of an efficient capital policy.」
The company reconfirmed the repurchase and cancellation of 1,669,900 treasury shares for ¥749,973,300 as measures taken under its capital policy. - FY2017-Q2AdvancedAnnual report
「The company carried out both a share repurchase under a resolution of the Board of Directors dated 12 May 2016 and a cancellation of treasury shares under a resolution dated 10 August 2016, during the following period, in order to increase the value of its shares and improve the balance of investment in future growth through improved capital efficiency and the supply-demand balance, and to enable the execution of an efficient capital policy.」
In addition to repurchasing 1,669,900 shares for ¥749,973,300, the company cancelled the same number of treasury shares on 31 August 2016. - FY2017-Q1AdvancedAnnual report
「The company repurchased shares during the following period under a resolution of the Board of Directors dated 12 May 2016, in order to increase the value of its shares and improve the balance of investment in future growth through improved capital efficiency and the supply-demand balance, and to enable the execution of an efficient capital policy. • Repurchase period: 13 May 2016–23 June 2016 • Number of shares repurchased: 1,669,900 common shares • Total repurchase amount: ¥749,973,300 • Method: Purchases through the Tokyo Stock Exchange's off-auction own-share purchase transaction (ToSTNeT-3) and market purchases through a trust arrangement on the Tokyo Stock Exchange JASDAQ market」
The company stated that it completed the repurchase of 1,669,900 shares for a total of ¥749,973,300 under its FY2016 share repurchase policy. - FY2016First statedAnnual report
「Based on the above shareholder return policy, the company determined that its current share price was undervalued relative to its earnings growth. To increase the value of its shares by improving capital efficiency and the supply-demand balance, improve the balance of investment in future growth, and enable the execution of an efficient capital policy, the company decided not to pay dividends for the current fiscal year and instead repurchase shares totaling ¥750 million as its shareholder return measure.」
The company stated that it chose to repurchase shares totaling ¥750 million instead of paying a dividend for the current fiscal year.