Stable and sustainable dividends
First written in FY2017. 4 of 10 entries say "Restated". Latest entry: FY2026.
- FY2026SoftenedAnnual report
「Our basic policy on profit distribution is to return value to shareholders stably, with a long-term target payout ratio of 30% or more, after comprehensively considering appropriate retained earnings for investment in the business and improving financial stability.」
The target of a payout ratio of 30% or more is maintained, but the wording has been reorganized from the previous year’s explanation of viewing the ratio after smoothing fluctuations in business performance over a benchmark period of 3 to 5 years to a “long-term payout ratio.” - FY2025RaisedAnnual report
「With regard to dividends, we will aim for a payout ratio of at least 30% when viewed after smoothing fluctuations in business performance.」
The policy has been made more specific, changing from the previous reference to a medium- to long-term payout ratio of 30% to a minimum payout ratio of 30% or more after smoothing fluctuations in business performance. The company explains that the benchmark period takes fluctuations over 3 to 5 years into account. - FY2024RaisedAnnual report
「Our basic policy on profit distribution is to return value to shareholders stably, based on a medium- to long-term target payout ratio of 30%, after comprehensively considering appropriate retained earnings for investment in the business and improving financial stability.」
The target level has been raised from the previous policy of using a 25% payout ratio as a benchmark to a policy using a medium- to long-term payout ratio of 30% as a benchmark. - FY2020ReframedAnnual report
「Our basic policy on profit distribution is to return value to shareholders based on a target payout ratio of 25%, after comprehensively considering appropriate retained earnings for investment in the business and improving financial stability.」
The explanation has been reorganized from the previous reference to stable and continuous dividends to a return policy based on retained earnings for business investment and financial stability, with a target payout ratio of 25%. - FY2019RestatedAnnual report
「Our group’s basic policy on profit distribution is to strengthen our financial position and ensure the soundness of our management foundation, while making stable and continuous dividend payments to shareholders after comprehensively considering business performance trends, changes in the operating environment and future business development.」
The company continues to state a policy of making stable and continuous dividend payments, taking comprehensive account of its financial position, business performance and other factors. - FY2018RestatedAnnual report
「Our group’s basic policy on profit distribution is to make stable and continuous dividend payments to shareholders, taking comprehensive account of business performance trends, changes in the operating environment, future business development and the strengthening of our financial position.」
The company continues to explicitly state a basic policy of making stable and continuous dividend payments. - FY2017First statedAnnual report
「Our group’s basic policy on profit distribution is to make stable and continuous dividend payments to shareholders, taking comprehensive account of business performance trends, changes in the operating environment, future business development and the strengthening of our financial position.」
The company explicitly states a basic policy of making stable and continuous dividend payments, taking comprehensive account of business performance, the operating environment, business development and its financial position.