Dividend per share
Fiscal year ending March 2027Each vertical step represents one dividend payment, and the total height of the accumulated steps represents the annual dividend for the period. For periods showing only the annual amount, the payment breakdown is not provided, so only the end point is plotted.
Maintain and increase stable dividends linked to performance. The basis for calculating the payout ratio will be changed from net income under Japanese GAAP to adjusted net income (net income + goodwill amortization + deferred income taxes), and the consolidated payout ratio target will be raised from 30% or more to 50% or more.
| Item | Details |
|---|---|
| Dividend per share | ¥5 → ¥10（+100.0%） |
| Total Annual Dividends | ¥5 → ¥10（+100.0%） |
| Previous-period results (per share) | Interim ¥0 / End of period ¥5 / Annual ¥5 |
| Payout ratio | Current Not disclosed / Target Consolidated payout ratio of 50% or more |
| Dividend policy | Maintain and increase stable dividends linked to performance. The basis for calculating the payout ratio will be changed from net income under Japanese GAAP to adjusted net income (net income + goodwill amortization + deferred income taxes), and the consolidated payout ratio target will be raised from 30% or more to 50% or more. |
| Whether Submission to the General Meeting of Shareholders Is Required | Board of directors resolution only |
| Fiscal Period Covered | Fiscal year ending March 2027 |
Items this document does not state (5)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The hotel operations business can continuously generate cash through its asset-light model, while net income under Japanese GAAP appears lower than the Company's underlying earnings power and cash-generation capacity due to the impact of goodwill amortization and deferred income taxes. The policy was revised to more appropriately reflect the actual business performance in shareholder returns and further enhance shareholder returns.