Balancing Retained Earnings with High Shareholder Returns
First written in FY2016. 8 of 35 entries say "Restated". Latest entry: 2026-08-05.
- 2026-08-05Cited as achievedFinancial results
「We forecast a full-year dividend of ¥15.00 per share.」
Following a ¥15 dividend on common shares in the previous fiscal year, the company forecast a full-year dividend of ¥15 for the current fiscal year. - FY2026AdvancedAnnual report
「The company plans to resume paying a dividend of ¥15 per common share for the first time in 8 fiscal years.」
Following payment of 7 years' worth of accrued Class A preferred dividends, the company plans to resume paying a dividend of ¥15 per common share for the first time in 8 fiscal years. This is subject to approval at the Annual General Meeting of Shareholders and remained a plan as of the filing date. - FY2026-H1AchievedAnnual report
「(Note) The company paid 7 years' worth of accrued Class A preferred dividends in accordance with the terms and conditions for the issuance of Class A preferred shares.」
The company paid ¥187.890 million in accrued Class A preferred dividends for 7 years. For common shares, it refers to resuming dividends because the equity ratio has consistently exceeded the target. - FY2025Target for resuming dividends in the next fiscal year and policy for eliminating accumulated preferred dividendsAnnual report
「We currently pay no dividends, but the shareholders' equity ratio at the end of the current fiscal year was 69.2%, exceeding the 50% benchmark we had set for resuming dividends. We will work toward resuming dividends in the next fiscal year.」
While continuing to pay no dividends, the company has disclosed an equity ratio of 69.2% and set resuming dividends in the next fiscal year as an explicit target. It has also indicated a policy of first paying the accrued dividends on its preferred shares. - FY2025-H1Potential for resuming Class A preferred and ordinary dividends upon sales recoveryAnnual report
「We have suspended dividends on both Class A preferred shares and common shares. With regard to dividend policy, we will prioritize retained earnings and work to maintain shareholders' equity in order to secure distributable profits and prepare for changes in the future business environment. In addition, we believe that if a clear recovery in sales emerges during the current fiscal year, it will become possible to pay dividends on Class A preferred shares and resume ordinary dividends.」
The company continues to pay no dividends on Class A preferred shares and common shares and to prioritize retained earnings and maintaining shareholders' equity, while indicating that dividends on both classes could resume if a clear recovery in sales emerged. - FY2024Continuation of no dividends and policy of early resumptionAnnual report
「However, with regard to dividends for the current fiscal year, we regret that we will suspend dividends on both common shares and Class A preferred shares, as we wish to prioritize retained earnings. Going forward, while taking the improvement of our financial position into consideration, we will retain earnings and consider providing shareholder returns based on earnings conditions.」
The company indicated a policy of continuing to pay no dividends on common shares and Class A preferred shares and considering shareholder returns while prioritizing improvement of its financial position and retained earnings. - FY2024-Q3RestatedAnnual report
「We have suspended dividends on both Class A preferred shares and common shares. With regard to dividend policy, we will prioritize retained earnings and work to restore shareholders' equity in preparation for changes in the future business environment. In addition, we believe that if a clear recovery in sales emerges during the current fiscal year, it will become possible to pay dividends on Class A preferred shares ahead of schedule.」
The company continues to pay no dividends on Class A preferred shares and common shares and to prioritize retained earnings and the recovery of shareholders' equity, while reiterating its expectation that early dividends on Class A preferred shares would become possible if a clear recovery in sales emerged. - FY2024-Q1Potential for early Class A preferred dividends upon sales recoveryAnnual report
「We have suspended dividends on both Class A preferred shares and common shares. With regard to dividend policy, we will prioritize retained earnings and work to restore shareholders' equity in preparation for changes in the future business environment. In addition, if a clear recovery in sales emerges during the current fiscal year, it will become possible to pay dividends on Class A preferred shares ahead of schedule.」
While continuing to pay no dividends on common shares and Class A preferred shares and prioritizing retained earnings, the company added that an early dividend on Class A preferred shares would become possible if a clear recovery in sales emerged. - FY2023Continuation of no dividends and consideration of the timing of resumptionAnnual report
「We currently pay no dividends, but the shareholders' equity ratio at the end of the current fiscal year was 51.2%, above the 50% benchmark we had set for resuming dividends. We will continue to assess the timing of resuming dividends.」
Although the shareholders' equity ratio exceeded the 50% benchmark for resuming dividends, the company continued to pay no dividends for the fiscal year and limited its statement to considering the timing of resumption. - FY2023-Q3SoftenedAnnual report
「With regard to dividends, we plan to continue suspending dividends on both Class A preferred shares and common shares after taking into consideration business conditions through the cumulative third quarter. We will continue working to restore a sound financial base.」
Although the shareholders' equity ratio rose to 53.7%, above the 50% benchmark for resuming dividends, the company indicated that it would continue to suspend dividends on both common shares and Class A preferred shares based on business conditions for the cumulative third quarter. - FY2023-Q2Consideration of resuming dividends at year-endAnnual report
「We had suspended dividends on both Class A preferred shares and common shares, but because the shareholders' equity ratio was 54.5% at the end of the second quarter accounting period, exceeding the 50.0% benchmark, we are considering resuming dividends at year-end.」
While continuing to suspend dividends on both classes of shares and prioritize retained earnings, the company states that it is considering resuming dividends at year-end because the shareholders' equity ratio exceeded the 50.0% benchmark. - FY2023-Q1RestatedAnnual report
「We have suspended dividends on both Class A preferred shares and common shares. With regard to dividend policy, we will prioritize retained earnings and work to restore shareholders' equity in preparation for changes in the future business environment.」
The company continues to suspend dividends on Class A preferred shares and common shares and to prioritize retained earnings and the recovery of shareholders' equity in its dividend policy. - FY2022AdvancedAnnual report
「As a result, the shareholders' equity ratio exceeded the 50% benchmark we had set for resuming dividends and recovered to 51.9% at the end of the fiscal year. We continue to regard a shareholders' equity ratio of approximately 50% as the benchmark for resuming dividends.」
While continuing to suspend dividends and prioritize retained earnings, the shareholders' equity ratio exceeded the 50% benchmark set for resuming dividends and improved to 51.9%. - FY2022-Q3AdvancedAnnual report
「The shareholders' equity ratio was 49.4% (32.0% at the end of the previous fiscal year).」
While continuing to suspend dividends and prioritize retained earnings, the shareholders' equity ratio improved from 32.0% to 49.4%, approaching the 50% benchmark indicated for resuming dividends. - FY2022-Q2Improvement in the shareholders' equity ratio and reconfirmation of the dividend resumption benchmarkAnnual report
「We have suspended dividends on both Class A preferred shares and common shares. We will first work to restore shareholders' equity, but as this fiscal year marks the company's 45th anniversary, we expect strong sales and improved earnings and believe we can resolve the management issues of recent years. As a benchmark for resuming dividends, we are considering a shareholders' equity ratio of 50% (32.0% at the end of the previous fiscal year).」
While continuing to suspend dividends on both classes of shares and prioritize retained earnings and the recovery of shareholders' equity, the company states that the shareholders' equity ratio improved to 40.1%, against a 50% benchmark for resuming dividends. - FY2021Specific target for resuming dividendsAnnual report
「We consider a shareholders' equity ratio of approximately 50% (32.7% as of the end of March 2021) to be the benchmark for resuming dividends.」
In addition to prioritizing retained earnings, the company has established a shareholders' equity ratio of approximately 50% as the specific benchmark for resuming dividends. - FY2021-Q3RestatedAnnual report
「We have suspended dividends on both Class A preferred shares and common shares. We will first work to restore impaired shareholders' equity and cash flow, but because sales conditions within the sales organization are by no means poor, we believe we can restore profitability in a short period.」
The company suspended dividends on Class A preferred shares and common shares and continues to prioritize the recovery of shareholders' equity and cash flow. - FY2021-Q1RestatedAnnual report
「With regard to dividend policy, we will prioritize retained earnings for the time being in preparation for changes in the future business environment, and will provide shareholder returns in the future while taking earnings into consideration.」
While suspending dividends on both common shares and Class A preferred shares, the company continues to prioritize retained earnings for the time being. - FY2020-Q3RestatedAnnual report
「With regard to dividend policy, we will prioritize retained earnings for the time being in preparation for changes in the future business environment, and will provide shareholder returns in the future while taking earnings into consideration.」
While suspending dividends on both common shares and Class A preferred shares, the company continues to prioritize retained earnings for the time being. - FY2020-Q2RestatedAnnual report
「With regard to dividend policy, we will prioritize retained earnings for the time being in preparation for changes in the future business environment, and will provide shareholder returns in the future while taking earnings into consideration.」
The company did not pay a dividend for the cumulative second quarter and continues to prioritize retained earnings for the time being. - FY2020-Q1RestatedAnnual report
「With regard to dividend policy, we will prioritize retained earnings for the time being in preparation for changes in the future business environment, and will provide shareholder returns in the future while taking earnings into consideration.」
While suspending dividends on both common shares and Class A preferred shares, the company continues to prioritize the recovery of shareholders' equity and retained earnings for the time being. - FY2019Suspension of dividends on common shares and Class A preferred sharesAnnual report
「However, with regard to dividends for the current fiscal year, we regret that we will suspend dividends on both common shares and Class A preferred shares, as we wish to prioritize retained earnings.」
The company changed from paying a ¥100 dividend per common share in the previous fiscal year to suspending dividends on both common shares and Class A preferred shares, with a policy of prioritizing retained earnings. - FY2019-Q1Payment of an annual dividend of ¥100Annual report
「28 June 2018 Annual General Meeting of Shareholders Common shares 396,371 100.00 31 March 2018 29 June 2018 Retained earnings」
For the fiscal year ended March 2018, the company paid a year-end dividend of ¥100 per share, totaling ¥396.371 million. On a post-stock-split basis, the annual dividend changed from ¥150 in the previous fiscal year. - FY2018Payment of annual dividend of ¥150Annual report
「Regarding dividends for the current fiscal year, we decided, in accordance with the policy above, to pay a dividend of ¥150 per share, including an interim dividend of ¥50.」
Under the basic policy of retaining earnings and providing high levels of shareholder returns, the company paid a dividend of ¥150 per share for the current fiscal year, including an interim dividend of ¥50. - FY2018-Q3Payment of the ¥50 interim dividendAnnual report
「Board of Directors meeting, 9 November 2017 Common shares ¥198.191 million ¥50.00 30 September 2017 8 December 2017 Retained earnings」
For the interim dividend, the company records that ¥198.191 million in total, or ¥50 per share, was paid on 8 December 2017. - FY2018-Q2Resolution on the ¥50 interim dividendAnnual report
「At a meeting of the Board of Directors held on 9 November 2017, the company resolved the following regarding the interim dividend for the fiscal year.」
The company resolved to pay an interim dividend of ¥50 per share, for a total dividend of ¥198.191 million, with 8 December 2017 as the payment commencement date. - FY2018-Q1Final dividend payment madeAnnual report
「Common shares 577,048 300.00 31 March 2017 30 June 2017 Retained earnings」
On 30 June 2017, the company paid a year-end dividend of ¥300 per share, totaling ¥577.048 million. The per-share dividend includes a commemorative dividend of ¥50. - FY2017Change from annual to semiannual dividends and commemorative dividendAnnual report
「Until the previous fiscal year, we paid a year-end dividend once a year from retained earnings. For the current fiscal year, we decided to pay dividends from retained earnings twice a year, as an interim dividend and a year-end dividend.」
Under the basic policy of retaining earnings and providing high levels of shareholder returns, the company changed from annual to semiannual dividends and paid ¥300 per share at year-end, comprising an ordinary dividend of ¥250 and a commemorative dividend of ¥50. - FY2017-Q3Interim dividend payment madeAnnual report
「Board of Directors meeting, 9 November 2016 Common shares ¥198.268 million ¥10.0 30 September 2016 9 December 2016 Retained earnings」
For the interim dividend, the disclosed payment was ¥198.268 million in total, or ¥10 per share, with 9 December 2016 as the effective date. - FY2017-Q2Interim Dividend ResolutionAnnual report
「At a meeting of the Board of Directors held on 9 November 2016, the company resolved the following regarding the interim dividend for the fiscal year.」
The company resolved to pay an interim dividend of ¥10 per common share, for a total dividend of ¥198.268 million. - FY2016First statedAnnual report
「Our basic policy is to strengthen our capital base through retained earnings in preparation for strengthening our corporate structure and future business development, while providing shareholder returns at as high a level as possible after taking earnings trends into consideration.」
The basic policy is to retain earnings in preparation for business development while providing high levels of shareholder returns based on earnings trends. The ordinary dividend for the fiscal year is ¥15 per share.