Balancing Stable, Ongoing Dividends with Retained Earnings
First written in FY2019. 2 of 4 entries say "Restated". Latest entry: FY2025.
- FY2025RaisedAnnual report
「Our basic dividend policy is to provide shareholders with returns through dividends without reducing the dividend and to maintain progressive dividends, while considering performance and financial condition in each fiscal year and maintaining a balance with retained earnings required for future business expansion. We aim to maintain a stable dividend payout ratio of 30%.」
The policy was clarified from the previous policy of increasing dividends in line with earnings growth to a specific shareholder return policy of progressive dividends without reductions and a 30% dividend payout ratio. - FY2021RestatedAnnual report
「With regard to shareholder returns, we intend to consider consolidated performance, financial condition and retained earnings set aside for strategic investments such as M&A, and increase dividends in line with earnings growth.」
The policy of considering performance, financial condition and retained earnings for strategic investments such as M&A while increasing dividends in line with earnings growth continues. - FY2020RestatedAnnual report
「With regard to shareholder returns, we intend to consider consolidated performance, financial condition and retained earnings set aside for strategic investments such as M&A, and increase dividends in line with earnings growth.」
The policy of considering performance, financial condition and retained earnings for strategic investments while increasing dividends in line with earnings growth has been reaffirmed. - FY2019First statedAnnual report
「Our basic dividend policy is to provide shareholders with stable and continuous returns through dividends, while taking into account performance and financial condition in each fiscal year and maintaining a balance with retained earnings required for future business expansion.」
The basic policy of paying stable and continuous dividends while considering performance, financial condition and retained earnings for future investment was explicitly stated.