Policy of Prioritizing Retained Earnings and Upfront Investment, with No Dividends
First written in FY2017. 24 of 35 entries say "Advanced", first in FY2020-Q2. Latest entry: 2026-10-14.
14 other companies' latest entry also says "Advanced".
- 2026-10-14AdvancedEarnings presentation
「累進配当の方針通り、初配を含み9期連続の増配を計画」
累進配当方針に基づき、2027年2月期の年間配当を79円とする計画を記載している。 - FY2027-H1AdvancedAnnual report
「At the Board of Directors meeting held on 14 October 2026, the Company resolved the following with respect to the interim dividend for the current fiscal year.」
After adopting a 50% payout ratio, a 6% DOE floor and a progressive dividend policy, the Company resolved to pay an interim dividend of ¥39.50 per share. This represents an increase from the interim dividend of ¥18 in the same period of the previous year. - FY2026RaisedAnnual report
「With respect to dividends from retained earnings, we raised the target from the previous guideline of “approximately 30% payout ratio” to a “50% payout ratio” and newly introduced “DOE (dividend on equity) of 6% (floor)” as an indicator. In addition, on the premise of a “progressive dividend policy” under which dividends are maintained or increased and, in principle, are not reduced, we will pay dividends twice a year, consisting of interim and year-end dividends.」
The Company raised its target payout ratio from 30% to 50% and added a 6% DOE floor and a progressive dividend policy. The annual dividend is scheduled to increase from ¥35 in the previous fiscal year to ¥78. - FY2026-H1AdvancedAnnual report
「At the Board of Directors meeting held on 14 October 2025, the Company resolved the following with respect to the interim dividend for the current fiscal year.」
The Company resolved to pay an interim dividend of ¥18 per share, with 31 August 2025 as the record date. This represents an increase from the previous interim dividend of ¥17.5, indicating progress in implementing the progressive dividend policy. - FY2025ReframedAnnual report
「Our policy is to pay stable, continuous progressive dividends with a payout ratio of approximately 30%. We will set the annual dividend per share at no less than the previous year's actual dividend and work to enhance shareholder returns by increasing the dividend continuously each year.」
In addition to its previous stable dividend policy, the Company presented specific shareholder return policies consisting of a 30% payout ratio, progressive dividends with the previous year's actual dividend as the floor, and continuous dividend increases. - FY2025-H1AdvancedAnnual report
「Board of Directors meeting held on 11 October 2024 Common shares 118,520 17.5 31 August 2024 15 November 2024 Retained earnings」
The Company resolved to pay an interim dividend of ¥17.5 per share, with 31 August 2024 as the record date. This represents an increase of ¥1 from the previous interim dividend of ¥16.5 per share. - FY2025-Q1AdvancedAnnual report
「29 May 2024 Annual General Meeting of Shareholders Common shares 105,946 16.5 29 February 2024 30 May 2024 Retained earnings」
A year-end dividend of ¥16.5 per share was paid on 30 May 2024. - FY2024AdvancedAnnual report
「Accordingly, the annual dividend per share for the fiscal year ending February 2024, the current fiscal year, will increase by ¥1 year on year.」
The annual dividend was ¥33, comprising an interim dividend of ¥16.5 and a year-end dividend of ¥16.5, an increase of ¥1 from ¥32 in the previous fiscal year. - FY2024-Q3AdvancedAnnual report
「13 October 2023 Board of Directors Common shares 105,946 16.5 31 August 2023 15 November 2023 Retained earnings」
An interim dividend of ¥16.50 per share, with 31 August 2023 as the record date, was paid on 15 November 2023. - FY2024-Q2AdvancedAnnual report
「At the meeting of the Board of Directors held on 13 October 2023, the following resolution was adopted regarding the interim dividend for the current fiscal year.」
The Company resolved to pay an interim dividend of ¥16.50 per share, totaling ¥105 million, with 31 August 2023 as the record date. This represents an increase from the previous interim dividend of ¥10.50 per share. - FY2024-Q1AdvancedAnnual report
「30 May 2023 Annual General Meeting of Shareholders Common shares 143,579 21.5 28 February 2023 31 May 2023 Retained earnings」
A year-end dividend of ¥21.5 per share was paid on 31 May 2023. The dividend increased from ¥16 per share in the previous fiscal year. - FY2023-Q3AdvancedAnnual report
「14 October 2022 Board of Directors Common shares 68,816 10.5 31 August 2022 15 November 2022 Retained earnings」
The ¥10.50-per-share interim dividend with 31 August 2022 as the record date was paid on 15 November 2022. - FY2023-Q2AdvancedAnnual report
「At a Board of Directors meeting held on 14 October 2022, the Company resolved the following regarding the interim dividend for the current fiscal year.」
The company resolved to pay an interim dividend of ¥10.50 per share, totaling ¥68 million, with 31 August 2022 as the record date. - FY2023-Q1AdvancedAnnual report
「27 May 2022 Annual General Meeting of Shareholders Common shares 104,756 16.00 28 February 2022 30 May 2022 Retained earnings」
A year-end dividend of ¥16 per share was paid on 30 May 2022. The dividend increased from ¥15 per share in the previous fiscal year. - FY2022AdvancedAnnual report
「Accordingly, the annual dividend per share for the fiscal year ending February 2022 increased by an effective ¥3.5 from the previous year.」
The annual dividend totaled ¥26, comprising a ¥10 interim dividend and a ¥16 year-end dividend, representing an effective increase of ¥3.5 from the previous year on a post-stock-split basis. - FY2022-Q3AdvancedAnnual report
「14 October 2021 Board of Directors Common shares 65,303 10.00 31 August 2021 15 November 2021 Retained earnings」
The ¥10-per-share interim dividend with 31 August 2021 as the record date was paid on 15 November 2021. - FY2022-Q2AdvancedAnnual report
「At a meeting of the Board of Directors held on 14 October 2021, the company resolved the following regarding the interim dividend for the fiscal year.」
The company resolved to pay an interim dividend of ¥10 per share, totaling ¥65 million, with 31 August 2021 as the record date. - FY2022-Q1AdvancedAnnual report
「26 May 2021 Annual General Meeting of Shareholders Common shares 99,167 15.00 28 February 2021 27 May 2021 Retained earnings」
The company reports paying a year-end dividend of ¥15 per share on 27 May 2021. - FY2021AdvancedAnnual report
「Including the interim dividend of ¥15 per share paid with 31 August 2020 as the record date, the annual dividend for the fiscal year is equivalent to ¥45 per share before the stock split, representing an increase of ¥15 from the previous fiscal year.」
Under its stable dividend policy, the annual dividend on a pre-stock-split basis increased by ¥15 year on year. - FY2021-Q3AdvancedAnnual report
「14 October 2020 Board of Directors Common shares 46,078 15.00 31 August 2020 16 November 2020 Retained earnings」
The company reports that the ¥15-per-share interim dividend became effective and was paid on 16 November 2020. - FY2021-Q2AdvancedAnnual report
「At a meeting of the Board of Directors held on 14 October 2020, the company resolved the following regarding the interim dividend for the fiscal year.」
The company resolved to pay an interim dividend of ¥15 per share, totaling ¥46 million, with 31 August 2020 as the record date. - FY2021-Q1AdvancedAnnual report
「27 May 2020 Annual General Meeting of Shareholders Common shares 46,075 15.00 29 February 2020 28 May 2020 Retained earnings」
The company reports paying a year-end dividend of ¥15 per share on 28 May 2020. - FY2020AdvancedAnnual report
「11 October 2019 46,062 15 Board of Directors' resolution 27 May 2020 46,075 15 Annual General Meeting of Shareholders' resolution」
In addition to the ¥15 interim dividend, a ¥15 year-end dividend was approved, bringing the total dividend per share for the fiscal year to ¥30. - FY2020-Q3AdvancedAnnual report
「11 October 2019 Board of Directors Common shares 46,062 15.00 31 August 2019 18 November 2019 Retained earnings」
The company reports that the ¥15-per-share interim dividend became effective and was paid on 18 November 2019. - FY2020-Q2AdvancedAnnual report
「At a meeting of the Board of Directors held on 11 October 2019, the company resolved the following regarding the interim dividend for the fiscal year.」
The company resolved to pay an interim dividend of ¥15 per share, totaling ¥46 million, with 31 August 2019 as the record date. - FY2020-Q1RestatedAnnual report
「29 May 2019 Annual General Meeting of Shareholders Common shares 46,925 15.00 28 February 2019 30 May 2019 Retained earnings」
The company reports paying a dividend of ¥15 per common share on 30 May 2019, reiterating implementation of its policy of emphasizing stable dividends in the future. - FY2019ReframedAnnual report
「The company considers the future payment of stable dividends an important management policy in order to meet the expectations of its shareholders.」
The description has changed from the previous policy of prioritizing retained earnings and upfront investment and not paying dividends for the time being to a policy emphasizing stable dividends in the future. The company paid a year-end dividend of ¥15 per share for the fiscal year. - FY2018RestatedAnnual report
「For the time being, the company will prioritize retained earnings and upfront investment and will not pay dividends. After establishing a sound business foundation, it intends to return profits to shareholders through dividends while taking into consideration its operating results, financial position, and the status of upfront investment.」
The company reiterates its policy of prioritizing retained earnings and upfront investment and paying no dividends. - FY2017First statedAnnual report
「For the time being, the company will prioritize retained earnings and upfront investment and will not pay dividends. After establishing a sound business foundation, it intends to return profits to shareholders through dividends while taking into consideration its operating results, financial position, and the status of upfront investment.」
The company refers to returning profits to shareholders after establishing a business foundation, but does not specify a dividend timetable or amount.