Balancing Retained Earnings with Stable and Sustainable Shareholder Returns
First written in FY2019. 12 of 26 entries say "Advanced", first in FY2022. Latest entry: 2026-10-09.
- FY2026RaisedAnnual report
「Our basic policy is to secure the retained earnings necessary for future business development and to strengthen our management foundation while providing progressive dividends. We will also enhance shareholder returns through sustainable earnings growth, target a consolidated dividend payout ratio of 40% and gradually increase the level of returns as earnings growth and cash-generation capacity improve.」
The Company has shifted from its previous stable-return policy targeting a dividend payout ratio of 20% to 30% to a policy based on progressive dividends and targeting a consolidated dividend payout ratio of 40%. The dividend for the fiscal year was ¥65 per share. - FY2025AdvancedAnnual report
「With respect to dividends for the fiscal year, after considering consolidated performance for the fiscal year and the medium- to long-term plan in accordance with the policy above, the Company decided to pay a year-end dividend of ¥55 per share. As a result, the dividend payout ratio for the fiscal year was 30.9%.」
Under its stable shareholder-return policy, the Company increased the dividend from ¥47 per share in the previous fiscal year to ¥55, resulting in a dividend payout ratio of 30.9%. - FY2025-H1RestatedAnnual report
「(a) Total dividends: ¥224.24 million (b) Dividend per share: ¥47.00」
The Company paid the ¥47 per share dividend decided in the previous fiscal year, reaffirming its track record of stable returns to shareholders. - FY2024AdvancedAnnual report
「With respect to dividends for the fiscal year, after considering the fiscal year’s performance and the medium- to long-term plan in accordance with the policy above, the Company decided to pay a year-end dividend of ¥47 per share. As a result, the dividend payout ratio for the fiscal year was 30.4%.」
Under its policy of targeting a dividend payout ratio of 20% to 30% after prioritizing retained earnings and growth investment, the Company increased the dividend from ¥30 to ¥47 per share, resulting in a dividend payout ratio of 30.4%. - FY2024-Q3RestatedAnnual report
「Board of Directors meeting, 14 July 2023; common shares; 142,834; ¥30; 31 May 2023; 31 August 2023; retained earnings」
The Company paid a dividend of ¥30 per share, totaling ¥142.834 million, reaffirming its track record of stable returns to shareholders. - FY2024-Q1AdvancedAnnual report
「At a meeting of the Board of Directors held on 14 July 2023, the Company resolved to pay dividends from surplus as follows.」
The Company paid the ¥30 per share dividend decided in the previous fiscal year, totaling ¥142.834 million, on 31 August 2023, implementing the increased shareholder return. - FY2023AdvancedAnnual report
「With respect to dividends for the fiscal year, after considering the fiscal year’s performance and the medium- to long-term plan in accordance with the policy above, the Company decided to pay a year-end dividend of ¥30 per share. As a result, the dividend payout ratio for the fiscal year was 22.9%.」
Under its policy of targeting a dividend payout ratio of 20% to 30% after prioritizing retained earnings and growth investment, the Company increased the dividend from ¥16 per share in the previous fiscal year to ¥30, resulting in a dividend payout ratio of 22.9%. - FY2023-Q1RestatedAnnual report
「At a meeting of the Board of Directors held on 14 June 2022, the Company resolved to pay dividends from surplus as follows.」
The Company paid a dividend of ¥16 per share, totaling ¥75.907 million, reaffirming its track record of stable returns to shareholders. - FY2022AdvancedAnnual report
「Treasury shares acquired during the fiscal year: 175,800 shares; ¥170,877,600」
In addition to its stable dividend policy, the Company acquired 175,800 treasury shares through ToSTNeT-3 pursuant to a resolution of the Board of Directors. The year-end dividend was ¥16 per share, and the dividend payout ratio was 17.7%. - FY2022-Q3RestatedAnnual report
「Board of Directors meeting, 11 June 2021; common shares; 73,800; ¥15; 31 May 2021; 30 August 2021; retained earnings」
The Company paid a dividend of ¥15 per share, totaling ¥73.8 million, reaffirming its track record of stable returns to shareholders. - FY2022-Q1RestatedAnnual report
「At a meeting of the Board of Directors held on 11 June 2021, the Company resolved to pay dividends from surplus as follows.」
The Company resolved to pay a dividend of ¥15 per share, totaling ¥73.8 million, reaffirming its track record of stable returns to shareholders. - FY2021RestatedAnnual report
「For shareholder returns, after prioritizing cash on hand and growth investment, we will target a dividend payout ratio of 20% to 30% and strive to provide stable returns to shareholders.」
The Company reaffirmed its policy of targeting a dividend payout ratio of 20% to 30% after prioritizing cash on hand and growth investment, and decided on a dividend of ¥15 per share for the fiscal year, representing a dividend payout ratio of 18.3%. - FY2021-Q3RestatedAnnual report
「Board of Directors meeting, 11 June 2020; common shares; 73,800; ¥15; 31 May 2020; 31 August 2020; retained earnings」
The Company reported a dividend of ¥15 per share, totaling ¥73.8 million, reaffirming its track record of stable returns to shareholders. - FY2021-Q1RestatedAnnual report
「At a meeting of the Board of Directors held on 11 June 2020, the Company resolved to pay dividends from surplus as follows.」
Based on a record date of 31 May 2020, the Company paid a dividend of ¥15 per share, totaling ¥73.8 million, demonstrating its track record of stable returns to shareholders. - FY2020Making capital allocation and dividend targets more specificAnnual report
「Profits generated by our business activities will be managed and used in a balanced manner, taking into account our business environment and stage of growth, with cash on hand, growth investment and shareholder returns prioritized in that order. For shareholder returns, after prioritizing cash on hand and growth investment, we will target a dividend payout ratio of 20% to 30% and strive to provide stable returns to shareholders.」
In addition to its previous stable-return policy, the Company has added priorities for cash on hand, growth investment and shareholder returns, together with a specific target dividend payout ratio of 20% to 30%. - FY2020-Q2RestatedAnnual report
「This was attributable to a ¥58.418 million decrease from dividends from surplus, offset by, among other factors, a ¥180.933 million increase from the recognition of quarterly net income.」
The Company reported that it paid a dividend during the cumulative second quarter, confirming a track record of continuing returns to shareholders. - FY2019First statedAnnual report
「Our basic policy is to secure the retained earnings necessary for future business development and to strengthen our management foundation, while providing continuous and stable returns to shareholders in line with improvements in performance.」
Retained earnings are earmarked for hiring and training engineers and for research and development of new technologies and businesses. The dividend for the fiscal year is ¥25 per share.