Stable Dividend Policy Based on 10% DOE
First written in FY2023. 3 of 8 entries say "Restated". Latest entry: FY2026-H1.
- FY2026-H1RestatedAnnual report
「(2) Amount per share: ¥50」
The company paid a dividend of ¥50 per share on 9 March 2026 for which 31 December 2025 was the record date. No change to the DOE-based stable dividend policy was disclosed. - 2026-03-19ReframedManagement plan
「With a view to expanding the investment business, dividends will be determined based on 10% of adjusted consolidated shareholders' equity in order to smooth the impact of investment gains and losses on dividends」
The dividend policy from FY26 onward was explained as a method based on adjusted consolidated shareholders' equity, calculated by allocating the investment business's after-tax net profit evenly over five years. - FY2025ReframedAnnual report
「Previously, dividends were determined based on an amount equal to 10% of consolidated shareholders' equity on the consolidated balance sheet. From the fiscal year ending December 2026, to smooth the effect of gains and losses from the investment business over a certain period, dividends will be based on 10% of "adjusted consolidated shareholders' equity," calculated by allocating the investment business's after-tax net income evenly over the five years from that fiscal year onward.」
The policy of stable dividends based on 10% remains unchanged, but from the fiscal year ending December 2026 the company revised the calculation to use adjusted consolidated shareholders' equity to smooth fluctuations in investment-business earnings. For the fiscal year ended December 2025, the dividend was ¥50 per share and DOE based on average equity during the year was 9.9%. - FY2025-H1RestatedAnnual report
「(2) Amount per share: ¥45」
The company paid a dividend of ¥45 per share on 10 March 2025 for which 31 December 2024 was the record date. No change to the 10% DOE-based dividend policy was disclosed. - FY2024RestatedAnnual report
「Our dividend policy is to maintain stable dividends based on a 10% DOE (dividend on equity attributable to owners of the parent).」
The dividend per share increased from ¥41 to ¥45. DOE for the fiscal year ended December 2024 was 9.3% based on year-end equity and 9.9% based on average equity during the year; the 10% policy remains unchanged. - FY2023First statedAnnual report
「Our dividend policy is to maintain stable dividends based on a 10% DOE (dividend on equity attributable to owners of the parent).」
For the fiscal year ended December 2023, the dividend was ¥41 per share and DOE was 9.7%. The company also identifies as a risk the possibility of failing to meet the target because of business investment or its financial position.