Policy of prioritizing growth investment and strengthening retained earnings
First written in FY2016. 5 of 17 entries say "Advanced", first in FY2022. Latest entry: 2026-08-14.
- 2026-08-14RaisedFinancial Results Presentation
「We regard improving capital efficiency and enhancing shareholder returns as important management issues. Taking into comprehensive consideration market conditions, share price levels and our financial position, we will implement flexible returns that consider dividends and share buybacks in an integrated manner, and manage capital with the aim of achieving the target ROE of 15% in the final fiscal year of Medium-Term Management Plan 2030. With respect to dividends, our basic policy is to pay progressive dividends, with DOE of 2% as the floor and with a target level above a 20% payout ratio in mind. Toward the final fiscal year of Medium-Term Management Plan 2030, we aim to achieve a DOE of 4% and a payout ratio of 30%.」
Regarding shareholder returns, the company presented a more specific and higher target: progressive dividends with DOE of 2% as the floor, rising to DOE of 4% and a payout ratio of 30% in the final fiscal year of the plan. - FY2026AdvancedAnnual report
「The Company's basic policy is to pay progressive dividends, using approximately 30% of the revenue generated by existing facilities in its renewable energy business, a recurring-revenue business, as the dividend funding source for the time being. Based on this policy, the Company has decided to maintain a fiscal year-end dividend of ¥9 per share for the fiscal year ending March 2026.」
The Company continues its progressive dividend policy, funded by approximately 30% of revenue from existing renewable energy facilities, and maintains a dividend of ¥9 per share. It has also newly introduced a shareholder points program. - FY2026-H1AdvancedAnnual report
「Common shares ¥72 million ¥9.00 per share 31 March 2025 11 June 2025 Retained earnings」
For the fiscal year ended March 2025, the Company paid a dividend of ¥9 per share, totaling ¥72 million, demonstrating an actual increase in shareholder returns from ¥8 per share in the previous fiscal year. - FY2025RaisedAnnual report
「The Company's basic policy is to pay progressive dividends, using approximately 30% of the revenue generated by existing facilities in its renewable energy business, a recurring-revenue business, as the dividend funding source for the time being. Regarding improving capital efficiency and enhancing shareholder returns as important management issues, the Company will implement flexible returns after comprehensively considering dividends and share buybacks in light of market conditions, share price levels and its financial position, and will manage its capital with a target ROE of 15%.」
The Company raised the dividend from ¥8 to ¥9 per share and outlined a shareholder return and capital efficiency policy that includes progressive dividends, combining dividends with share buybacks, and a target ROE of 15%. - FY2025-H1RestatedAnnual report
「Common shares ¥65,098 thousand ¥8.00 per share 31 March 2024 12 June 2024 Retained earnings」
The Company also paid a dividend of ¥8 per share, totaling ¥65,098 thousand, for the fiscal year ended March 2024. - FY2024-Q1RestatedAnnual report
「27 June 2023, Annual General Meeting of Shareholders Common shares ¥53,098 thousand ¥8.00 per share 31 March 2023 28 June 2023 Retained earnings」
The Company also paid a dividend of ¥8 per share for the fiscal year ended March 2023. - FY2023RestatedAnnual report
「The Company regards balancing the strengthening of retained earnings for future business development with the return of profits in line with growth as an important management issue, and its basic policy is to pay stable and consistent dividends.」
The Company reconfirms its policy of balancing stronger retained earnings with profit returns in line with growth, and paid a dividend of ¥8 per share for the fiscal year ended March 2023. - FY2023-Q2AdvancedAnnual report
「Dividend payment amount (Resolution) 24 June 2022, Annual General Meeting of Shareholders Common shares: ¥53,158 thousand Dividend per share: ¥8.00 Record date: 31 March 2022 Effective date: 27 June 2022 Source of dividends: Retained earnings」
The Company paid ¥53,158 thousand in dividends at ¥8 per share, which began in the previous consolidated fiscal year. - FY2022AdvancedAnnual report
「As a return of profits in line with growth, the Company has decided to begin paying dividends from the current consolidated fiscal year. Taking current-period operating results into account, the dividend will be ¥8 per share. The dividend for the following consolidated fiscal year is also expected to be ¥8 per share.」
The Company has moved from its previous policy of paying no dividends and prioritizing retained earnings to beginning a dividend of ¥8 per share, with approximately 30% of revenue from existing renewable energy facilities serving as the dividend funding source for the time being. - FY2021SoftenedAnnual report
「The Company is currently in a growth phase and aims to further expand its business. Believing it important to avoid an outflow of business funds and strengthen retained earnings, it has paid no dividends since its establishment, including for the current fiscal year. However, it also considers it important to provide stable returns to shareholders. Going forward, it will work to establish a stable management base and strengthen earnings capacity, and will determine dividends based on operating results and future business development, making appropriate management decisions on each occasion.」
While maintaining its policy of paying no dividends and prioritizing retained earnings, the Company has provided more specific details on shareholder returns, stating that it will determine dividends after establishing a stable management base and earnings capacity. - FY2019SoftenedAnnual report
「The Company intends to actively consider returning profits to shareholders when it determines that stable and continuous shareholder returns are possible, taking into account progress under its medium-term management plan and its financial position and operating results in each fiscal year. However, the possibility and timing of dividend payments remain undecided at this time.」
While maintaining its existing policy of prioritizing retained earnings and business expansion, the Company stated that it would consider shareholder returns depending on progress under the plan and operating results. However, the possibility and timing of dividends remain undecided. - FY2017RestatedAnnual report
「The Company has not paid dividends since its founding and, for the time being, intends to strengthen retained earnings as funds for investment in new business development and the working capital required to expand existing businesses.」
The Company reiterates its policy of paying no dividends for the time being and allocating retained earnings to growth investment and working capital. - FY2016First statedAnnual report
「Accordingly, the Company has not paid dividends since its founding and, for the time being, intends to strengthen retained earnings as funds for investment in new business development and the working capital required to expand existing businesses.」
The Company explicitly states that it will pay no dividends for the time being and will allocate retained earnings to business expansion and investment in new businesses.