Capital Policy Aimed at Shareholder Returns and Early Resumption of Dividends
First written in FY2016. 5 of 16 entries say "Advanced", first in FY2016. Latest entry: FY2026.
22 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「For the current fiscal year, the Company decided to pay a year-end dividend of ¥5 per share. As a result, the payout ratio for the current fiscal year was 90.4%.」
Following the previous fiscal year, when dividends were resumed for the first time in 56 years, the Company decided to pay a year-end dividend of ¥5 per share for the current fiscal year. The payout ratio was 90.4%. - FY2026-H1AchievedAnnual report
「In addition, following approval and payment of a year-end dividend for the first time in 56 years pursuant to a resolution of the 145th annual shareholders’ meeting held on 27 June 2025, retained earnings decreased by ¥132.258 million.」
The year-end dividend decided in the previous fiscal year, the first in 56 years, was approved by the shareholders’ meeting and actually paid. - FY2025AchievedAnnual report
「The Company had not paid a dividend for many years since its final year-end dividend for the fiscal year ended March 1969. After comprehensively considering the steady progress in strengthening its earnings capacity and financial base, the Company determined that conditions were in place to resume dividend payments and decided to pay a year-end dividend of ¥5 per share, the first in 56 years.」
Against the backdrop of stronger earnings capacity and financial foundations, the Company paid a year-end dividend of ¥5 per share for the first time in 56 years, implementing its policy of resuming dividends at an early stage. The payout ratio was 84.0%. - FY2024RaisedAnnual report
「Shareholder benefit vouchers usable at either “テルマー湯 新宿店” or “テルマー湯 西麻布店,” operated by the Company’s consolidated subsidiary, will be presented.」
The scope of the existing hot-spring facility benefit was expanded to include both the Shinjuku and Nishiazabu facilities by adding the Nishiazabu facility. The Company continued to pay no dividend. - FY2023RestatedAnnual report
「Going forward, we will work to secure distributable profit by expanding revenue in the bathing facilities and real estate businesses.」
The Company reaffirmed its policy of securing distributable profits through earnings growth in its hot-spring and real estate businesses, but continued to pay no dividend for the current fiscal year. - FY2023-Q1AchievedAnnual report
「At the 142nd annual shareholders’ meeting held on 29 June 2022, the Company resolved to reduce its stated capital. The reduction became effective on 2 August 2022. The reduction was intended to strengthen the Company’s financial position and secure flexibility and agility in future capital policies. Pursuant to Article 447, paragraph 1 of the Companies Act, the Company reduced its stated capital and transferred the amount to other capital surplus. Of the ¥543.874 million in stated capital, ¥443.874 million was reduced, leaving stated capital of ¥100 million.」
The capital reduction involving a ¥443.874 million reduction from the ¥543.874 million in capital approved in the previous fiscal year became effective on 2 August 2022, leaving capital of ¥100 million. - FY2022AdvancedAnnual report
「The reduction in the amount of capital is intended to strengthen the Company’s financial position and secure flexibility and agility in future capital policy. Pursuant to Article 447, paragraph 1 of the Companies Act, the Company will reduce its capital and transfer the amount to other capital surplus.」
At the shareholders’ meeting, a capital reduction was approved under which ¥443.874 million of the ¥543.874 million in capital following the third-party allotment would be reduced, leaving capital of ¥100 million. The effective date is scheduled for 2 August 2022. - FY2021RestatedAnnual report
「Going forward, we will work to secure distributable profit by expanding revenue in the bathing facilities and real estate businesses.」
The Company reaffirmed its policy of securing distributable profit through revenue growth in the bathing facilities and real estate businesses. The Company also continued to pay no dividend for the fiscal year. - FY2020RestatedAnnual report
「Going forward, we will work to secure distributable profit by expanding revenue in the bathing facilities and real estate businesses.」
The Company reaffirmed its policy of securing distributable profit by expanding revenue in the bathing facilities and real estate businesses. Meanwhile, it continued to pay no dividend for the fiscal year. - FY2019RaisedAnnual report
「At a meeting of the Board of Directors held on 17 April 2019, the Company resolved to change the current shareholder benefit program as shown in the table above. ① The number of benefit vouchers was increased according to the number of shares held. ② The vouchers cannot be used on Saturdays, Sundays, public holidays or specified dates.」
Although the Company continues to pay no dividend, it resolved to increase the number of Thermae-Yu benefit vouchers according to the number of shares held. At the same time, dates on which the vouchers cannot be used were established. - FY2018AdvancedAnnual report
「The Company will present shareholder benefit vouchers usable at Thermae-Yu, a bathing facility operated by one of its consolidated subsidiaries. The number of vouchers will be determined according to the number of shares held by each shareholder, as follows.」
While continuing to pay no dividend, the Company implemented a shareholder benefit program offering Thermae-Yu vouchers according to the number of shares held, adding a specific means of returning value to shareholders. - FY2018-Q2AdvancedAnnual report
「Pursuant to a resolution of the annual general meeting of shareholders held on 29 June 2017, the Company reduced its capital by ¥3,427.811 million as of 4 August 2017 under Article 447, paragraph 1 of the Companies Act and transferred the amount to other capital surplus. It then reduced other capital surplus by ¥107.152 million as of the same date under Article 452 of the Companies Act, transferred the amount to retained earnings carried forward, and offset the deficit.」
The Company offset the deficit by reducing capital by ¥3,427.811 million and other capital surplus by ¥107.152 million, proceeding with the capital policy procedures. - FY2017-Q1AchievedAnnual report
「Pursuant to a resolution of the annual general meeting of shareholders held on 29 June 2016, the Company reduced its capital reserve by ¥175.2 million as of that date under Article 448, paragraph 1 of the Companies Act and transferred the amount to other capital surplus. It then reduced other capital surplus as of the same date under Article 452 of the Companies Act, transferred the amount to retained earnings carried forward, and offset the deficit.」
The Company reduced its capital reserve by ¥175.2 million and offset the deficit as of 29 June 2016, completing the capital policy procedures outlined in the previous fiscal year. - FY2016AdvancedAnnual report
「To secure flexibility and agility in future capital policy and establish a structure that enables an early resumption of dividends, the Company will reduce its capital reserve and use it to offset the deficit in retained earnings carried forward.」
Following approval at the 29 June 2016 general meeting of shareholders, the Company proceeded with reducing its capital reserve by ¥175.2 million and applying it to offset the deficit. Meanwhile, the Company continued to pay no dividend for the fiscal year.