Flexible Dividends from Surplus by Board Resolution
First written in FY2018. 2 of 3 entries say "Restated". Latest entry: FY2022.
3 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「The company provides in its Articles of Incorporation that, unless otherwise provided by law, matters concerning dividends from retained earnings and other matters stipulated in the items of Article 459, Paragraph 1 of the Companies Act are to be determined by resolution of the Board of Directors rather than by resolution of the general meeting of shareholders. This is intended to enable flexible returns of profits to shareholders by placing authority over dividends from retained earnings and related matters with the Board of Directors.」
The company has reaffirmed the system for paying dividends from retained earnings by Board resolution and providing flexible returns to shareholders. - FY2020RestatedAnnual report
「The company provides in its Articles of Incorporation that, unless otherwise provided by law, matters concerning dividends from retained earnings and other matters stipulated in the items of Article 459, Paragraph 1 of the Companies Act are to be determined by resolution of the Board of Directors rather than by resolution of the general meeting of shareholders. This is intended to enable flexible returns of profits to shareholders by placing authority over dividends from retained earnings and related matters with the Board of Directors.」
The company has reaffirmed the system for paying dividends from retained earnings by Board resolution and providing flexible returns to shareholders. - FY2018First statedAnnual report
「At the ordinary general meeting of shareholders held on 22 December 2018, a resolution was passed to amend the Articles of Incorporation to allow dividends from retained earnings to be paid by resolution of the Board of Directors.」
The company states that the decision-making framework for dividends from retained earnings was changed to allow them to be determined by Board resolution in addition to shareholder approval.