No-Dividend Policy Prioritizing Growth Investment and Financial Strengthening
First written in FY2019. 19 of 29 entries say "Restated". Latest entry: 2026-10-15.
10 other companies' latest entry also says "Advanced".
- FY2027-H1AdvancedAnnual report
「At a meeting of the Board of Directors held on 14 April 2026, the company resolved to pay a year-end dividend as follows to shareholders recorded in the shareholder register as of 28 February 2026.」
Regarding the ¥25-per-share year-end dividend initiated in the previous fiscal year, the company paid ¥185 million on 12 May 2026 and also resolved to pay an interim dividend of ¥15 per share with 31 August 2026 as the record date. - 2026-07-15RestatedEarnings presentation
「Initial dividend for the fiscal year ending February 2026: ¥25 → forecast dividend for the fiscal year ending February 2027: ¥30」
The company reconfirmed its shareholder-return policy, centered on increasing the dividend from the initial ¥25 to a forecast ¥30, together with the dividend payout ratio, DOE and total payout ratio. - FY2026Initiating dividends and quantifying the shareholder return policyAnnual report
「Accordingly, regarding the specific dividend policy going forward, the company will operate with a consolidated dividend payout ratio of approximately 20% to 30% of net income attributable to owners of the parent, excluding gains and losses on the sale of one-time assets and income and expenses that do not involve an increase in cash and deposits, as a guideline. In addition, to secure dividend stability during periods of temporary profit fluctuations without being unduly affected by short-term performance, the company will use a lower limit of 1.0% for the dividend on equity ratio (DOE) as a guideline. In the short term, the company will also consider flexible share repurchases as an option and will use a total payout ratio of approximately 25% to 50% as a guideline.」
The company has shifted from its policy of paying no dividends since establishment and leaving the timing of dividends undecided to a shareholder return policy under which it began paying a dividend of ¥25 per share with 28 February 2026 as the record date, using a consolidated dividend payout ratio of 20% to 30%, a DOE floor of 1.0% and a total payout ratio of 25% to 50% as guidelines. A dividend of ¥30 per share is planned for the next fiscal year. - FY2025ReframedAnnual report
「We recognize the return of profits to shareholders as an important management priority and have adopted a basic policy of paying dividends to shareholders after taking into consideration operating performance and financial condition. We have begun considering the possibility and timing of future dividend payments, but the timing may be delayed due to factors such as deterioration in operating performance.」
The policy has shifted from paying no dividends since establishment and leaving the timing of dividend payments undecided to stating that consideration has begun regarding the possibility and timing of dividend payments. However, no dividend was paid for the current fiscal year either. - FY2025-Q1RestatedAnnual report
「Dividend payments: Not applicable.」
No dividends were paid during the three-month period ended the first quarter, and the company remains in a no-dividend position while prioritizing growth investment and balance-sheet strengthening. - FY2024-Q3RestatedAnnual report
「Dividend payments: Not applicable.」
No dividends were paid during the nine-month period ended the third quarter, and the company remains in a no-dividend position while prioritizing growth investment and balance-sheet strengthening. - FY2024-Q2RestatedAnnual report
「Dividend payments: Not applicable.」
No dividends were paid during the six-month period ended the second quarter, and the company remains in a no-dividend position while prioritizing growth investment and balance-sheet strengthening. - FY2024-Q1RestatedAnnual report
「Dividend payments: Not applicable.」
No dividends were paid in the first quarter, and the company remains in a no-dividend position while prioritizing growth investment and balance-sheet strengthening. - FY2023RestatedAnnual report
「Based on this policy, no dividends have been paid since the company was established, but we recognize the return of profits to shareholders through dividends as an important priority. The payment of dividends and the timing thereof have not been determined at this time, but we intend to consider returning profits to shareholders in the future after taking into comprehensive consideration the results of operations and business plans for each fiscal year.」
The policy was reconfirmed of allocating retained earnings for the time being to investments in business expansion, the organizational structure and the systems environment, with the timing of dividend payments yet to be determined. - FY2023-Q3RestatedAnnual report
「Dividend payments: Not applicable.」
No dividends were paid during the nine-month period ended the third quarter, and the company remains in a no-dividend position while prioritizing growth investment and balance-sheet strengthening. - FY2023-Q2RestatedAnnual report
「Dividend payments: Not applicable.」
No dividends were paid during the six-month period ended the second quarter, and the no-dividend policy prioritizing growth investment and balance-sheet strengthening remains in place. - FY2023-Q1RestatedAnnual report
「Dividend payments: Not applicable.」
No dividends were paid in the first quarter, and the no-dividend policy prioritizing growth investment and balance-sheet strengthening remains in place. - FY2022RestatedAnnual report
「No dividends have been paid since the company was established, but we recognize the return of profits to shareholders through dividends as an important priority. The payment of dividends and the timing thereof have not been determined at this time, but we intend to consider returning profits to shareholders in the future after taking into comprehensive consideration the results of operations and business plans for each fiscal year.」
The policy was reconfirmed of allocating retained earnings for the time being to growth investment, the organizational structure and the development of the systems environment, with the timing of dividend payments yet to be determined. - FY2022-Q2RestatedAnnual report
「Dividend payments: Not applicable.」
No dividends were paid during the six-month period ended the second quarter, and the no-dividend policy prioritizing growth investment and balance-sheet strengthening remains in place. - FY2021RestatedAnnual report
「Accordingly, no dividends have been paid since the company was established, and for the foreseeable future the policy is to allocate funds to investments to strengthen the financial base and expand the business.」
The company reconfirmed its policy of paying no dividends for the foreseeable future while prioritizing growth investment and balance-sheet strengthening. - FY2021-Q3RestatedAnnual report
「Dividend per share (yen) —」
No dividends were paid during the nine-month period ended the third quarter, and the company remains in a no-dividend position. - FY2021-Q2RestatedAnnual report
「Dividend per share (yen) —」
No dividends were paid during the six-month period ended the second quarter, and the company remains in a no-dividend position. - FY2021-Q1RestatedAnnual report
「Dividend per share (yen) —」
It was reconfirmed that no dividends were paid during the three-month period ended the first quarter. - FY2020RestatedAnnual report
「No dividends have been paid since the company was established, and for the foreseeable future the policy is to allocate funds to investments to strengthen the financial base and expand the business.」
The annual report reconfirmed the policy of paying no dividends for the foreseeable future while prioritizing growth investment and balance-sheet strengthening. - FY2020-Q3RestatedAnnual report
「Dividend per share (yen) —」
It was reconfirmed that no dividends were paid during the nine-month period ended the third quarter. - FY2020-Q2RestatedAnnual report
「Dividend per share (yen) —」
No dividends were paid during the six-month period ended the second quarter, and the no-dividend policy remains in place. - FY2020-Q1RestatedAnnual report
「Dividend per share (yen) —」
No dividends were paid in the first quarter, and the company remains in a no-dividend position. - FY2019First statedAnnual report
「No dividends have been paid since the company was established, and for the foreseeable future the policy is to allocate funds to investments to strengthen the financial base and expand the business.」
While recognizing the return of profits to shareholders as an important priority, the policy is to allocate retained earnings for the time being to investments in business expansion, the organizational structure and the systems environment.