Stable, Sustainable Dividends and Use of Retained Earnings for Growth Investment
First written in FY2017. 3 of 7 entries say "Restated". Latest entry: 2026-08-07.
80 other companies' latest entry also says "Restated".
- 2026-08-07RestatedRevision to the earnings forecast
「Based on the sustainable and stable growth potential of our robust business model and our strong cash-generation capability, our shareholder return policy is to return 100% of free cash flow and provide progressive dividends.」
The company reiterated its shareholder return policy of returning 100% of free cash flow excluding M&A and providing progressive dividends. - FY2026RaisedAnnual report
「Based on the sustainable and stable growth potential of our robust business model and our strong cash-generation capability, our shareholder return policy is to return 100% of free cash flow excluding M&A and provide progressive dividends.」
The Company made its policy more specific, moving from stable, ongoing dividends and the use of retained earnings for growth investment to an explicit policy of returning 100% of free cash flow excluding M&A and paying progressive dividends. - 2026-06-05ReframedGeneral Meetings of Shareholders
「Based on the sustainable and stable growth potential of our robust business model and our strong cash-generation capability, our shareholder return policy is to return 100% of free cash flow excluding M&A and provide progressive dividends.」
The company explicitly stated a shareholder return policy of returning 100% of free cash flow excluding M&A and providing progressive dividends, replacing its previous policy of stable, continuous dividends with a payout ratio target of 30%. - FY2023ReframedAnnual report
「With respect to dividends, the Company will provide stable and ongoing appropriate shareholder returns, using a payout ratio of 30% as a guideline.」
The Company added a specific guideline of a 30% payout ratio to its existing policy of stable, ongoing dividends. - FY2019RestatedAnnual report
「The Company's basic policy is to improve profitability by strengthening its corporate structure and distribute profits in line with performance, while taking into account the stable and ongoing payment of dividends to shareholders. Retained earnings will be used effectively to establish a long-term, stable management foundation and support further growth, including investment in research and development, the development of domestic and overseas production and sales systems, and investment to accelerate globalization.」
The Company reiterates its capital allocation policy of stable, ongoing dividends and using retained earnings for growth investment. - FY2018RestatedAnnual report
「The Group allocates operating cash flow to growth investments, particularly overseas, and to investments in Japan that contribute to higher profitability. Any shortfall is financed mainly through bank borrowings and the issuance of corporate bonds.」
In addition to its policy of stable, ongoing dividends and using retained earnings for growth investment, the Company has disclosed that operating cash flow, bank borrowings and corporate bonds are sources of funding for growth investment. - FY2017First statedAnnual report
「The Company's basic policy is to improve profitability by strengthening its corporate structure and distribute profits in line with performance, while taking into account the stable and ongoing payment of dividends to shareholders. Retained earnings will be used effectively to establish a long-term, stable management foundation and support further growth, including investment in research and development, the development of domestic and overseas production and sales systems, and investment to accelerate globalization.」
The Company has disclosed a capital allocation policy centered on stable, ongoing dividends and performance-linked profit distributions, with retained earnings used for investment in research and development, production and sales systems, and globalization.