Retained Earnings-Focused, No-Dividend Policy Prioritizing Growth Investment
First written in FY2016. 12 of 20 entries say "Restated". Latest entry: FY2026.
15 other companies' latest entry also says "Raised".
- FY2026RaisedAnnual report
「At a Board of Directors meeting held on 30 January 2026, the company resolved to change its dividend policy to further enhance returns to shareholders and achieve stable dividends linked to business performance. Its basic policy is to pay dividends based on the higher of a payout ratio of 20% or a DOE of 2.0%. Based on this policy, the company plans to submit a resolution at the Annual General Meeting of Shareholders scheduled for 25 June 2026 to set the year-end dividend for the current fiscal year at ¥17 per share.」
The company changed its policy from the previous DOE 2.0% benchmark to one based on the higher of a payout ratio of 20% or a DOE of 2.0%, and plans to increase the year-end dividend from ¥11 to ¥17 per share. - FY2025Increase the year-end dividend to ¥11 per shareAnnual report
「The company recognizes the return of profits to shareholders as one of its important management priorities. Its basic policy is to pay dividends based on a DOE of 2.0%, taking into comprehensive consideration the expansion of corporate value, the management environment and business performance, while securing retained earnings for strengthening the management base and funding additional upfront investment aimed at expanding the business scale in the future. Based on this policy, the year-end dividend for the current fiscal year has been set at ¥11 per share.」
While maintaining its dividend policy of using a DOE of 2.0% as the benchmark and securing retained earnings, the year-end dividend increased from the previous ¥10 per share to ¥11. - FY2025-H1RestatedAnnual report
「26 June 2024 Annual General Meeting of Shareholders Common shares Retained earnings 104,687 10.00 31 March 2024 27 June 2024」
The company disclosed a payment of ¥10 per share, totaling ¥104.687 million, for dividends based on its dividend policy. - FY2024-Q3RestatedAnnual report
「28 June 2023 Annual General Meeting of Shareholders Common shares Retained earnings 106,439 10.00 31 March 2023 29 June 2023」
The company disclosed a payment of ¥10 per share, totaling ¥106.439 million, for dividends based on its dividend policy using a DOE of 2.0% as the benchmark. - FY2024-Q1RestatedAnnual report
「28 June 2023 Annual General Meeting of Shareholders Common shares Retained earnings 106,439 10.00 31 March 2023 29 June 2023」
The company disclosed a payment of ¥10 per share, totaling ¥106.439 million, for dividends based on its dividend policy using a DOE of 2.0% as the benchmark. - FY2023RestatedAnnual report
「The company recognizes the return of profits to shareholders as one of its important management priorities. Its basic policy is to pay dividends based on a DOE of 2.0%, taking into comprehensive consideration the expansion of corporate value, the management environment and business performance, while securing retained earnings for strengthening the management base and funding additional upfront investment aimed at expanding the business scale in the future. The company plans to pay a year-end dividend of ¥10 per share for the current fiscal year.」
The company continues its policy of paying dividends based on a DOE of 2.0% while securing retained earnings, and set the current fiscal year dividend at ¥10 per share, totaling ¥106.439 million. - FY2023-Q3RestatedAnnual report
「28 June 2022 Annual General Meeting of Shareholders Common shares Retained earnings 106,339 10.00 31 March 2022 29 June 2022」
The company continues to disclose a payment of ¥10 per share, totaling ¥106.339 million, for dividends based on its dividend policy. - FY2023-Q1RestatedAnnual report
「28 June 2022 Annual General Meeting of Shareholders Common shares Retained earnings 106,339 10.00 31 March 2022 29 June 2022」
The company reported a payment of ¥10 per share, totaling ¥106.339 million, for dividends that began in the previous fiscal year. - FY2022ReframedAnnual report
「The company recognizes the return of profits to shareholders as one of its important management priorities. Its basic policy is to pay dividends based on a DOE of 2.0%, taking into comprehensive consideration the expansion of corporate value, the management environment and business performance, while securing retained earnings for strengthening the management base and funding additional upfront investment aimed at expanding the business scale in the future.」
The company changed its framework by adding a clear dividend policy based on a DOE of 2.0% to its previous stable dividend policy and presenting retained earnings and shareholder returns together. - FY2022-Q1RestatedAnnual report
「25 June 2021 Annual General Meeting of Shareholders Common shares Retained earnings 106 10.00 31 March 2021 28 June 2021」
The company disclosed a payment of ¥10 per share, totaling ¥106 million, for dividends that began in the previous fiscal year. - FY2021ReframedAnnual report
「However, because the company was able to expand and improve the profitability of its core LOWYA business during the current fiscal year, and determined that it could continue to pay stable dividends while retaining funds for additional upfront investment aimed at expanding the business scale in the future, it began paying dividends from the current fiscal year as part of its return of profits to shareholders.」
The company changed its policy from prioritizing no dividends and retained earnings to continuing stable dividend payments while securing funds for upfront investment, and began paying dividends from the current fiscal year. - FY2020RestatedAnnual report
「The company has not returned profits to shareholders through dividends or other means since its establishment. To build up retained earnings and secure additional operating funds for upfront investment aimed at strengthening the management base and expanding the business scale in the future, the company has decided to forgo dividends for the 16th fiscal year.」
The company will pay no dividend for the 16th fiscal year as well and continues its policy of prioritizing the accumulation of retained earnings in preparation for growth investment. - FY2018RestatedAnnual report
「To strengthen our management base and secure additional operating funds for upfront investment aimed at expanding the business scale in the future, our basic policy for the time being will continue to be to build up retained earnings and use them effectively.」
The company continues its policy of paying no dividends since its establishment and prioritizing the accumulation of retained earnings and upfront investment for the time being. - FY2017RestatedAnnual report
「To strengthen our management base and secure additional operating funds for upfront investment aimed at expanding the business scale in the future, our basic policy for the time being will continue to be to build up retained earnings and use them effectively.」
The company has again stated its policy of paying no dividends and prioritizing the accumulation of retained earnings and upfront investment for the time being. - FY2016First statedAnnual report
「To strengthen our management base and secure additional operating funds for upfront investment aimed at expanding the business scale in the future, our basic policy for the time being will continue to be to build up retained earnings and use them effectively.」
The company has not paid dividends since its establishment and explains that, for the time being, it will prioritize building up retained earnings and upfront investment.