Shareholder-return policy balancing stable dividends and growth investment
First written in FY2017. 5 of 13 entries say "Advanced", first in FY2020-Q2. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Based on a resolution of the Board of Directors adopted on 9 May 2025, the company cancelled 1,000,000 treasury shares effective 31 October 2025.」
Following the acquisition of treasury shares, the cancellation of 1,000,000 shares was completed. Measures to enhance shareholder returns and capital efficiency progressed to the implementation stage. - FY2026-H1AdvancedAnnual report
「Based on a resolution of the Board of Directors adopted on 9 May 2025, the company cancelled treasury shares effective 31 October 2025.」
The company acquired 1,000,000 treasury shares during the interim period and subsequently cancelled the same number. Specific measures to improve capital efficiency through treasury-share acquisitions and cancellations moved forward. - FY2025AdvancedAnnual report
「At a meeting of the Board of Directors held on 9 May 2025, the company resolved matters concerning the acquisition of treasury shares pursuant to Article 156 of the Companies Act, as applied by replacing the relevant terms under Article 165, Paragraph 3 of the Act, and resolved to cancel treasury shares pursuant to Article 178 of the Companies Act.」
As specific measures to enhance shareholder returns and capital efficiency, the company resolved to acquire up to 1 million treasury shares for up to ¥1.5 billion and cancel 1 million treasury shares. - FY2024RaisedAnnual report
「Under the three-year medium-term management plan Ever Onward 2026, which began in fiscal 2024, we will make shareholder dividend payments with a target consolidated dividend payout ratio of 40% while pursuing proactive growth investment to improve earnings power and strengthening our financial position.」
The target consolidated dividend payout ratio was raised from the previous 30% to 40%, with the new medium-term management plan calling for a balance between growth investment and strengthening the financial position. - FY2023RestatedAnnual report
「Under the medium-term management plan Ever Onward 2023, the company intends to achieve a return to profitability, target a consolidated dividend payout ratio of 30%, and work to improve capital efficiency by flexibly repurchasing treasury shares when appropriate, taking into comprehensive consideration the share price, cash position, market environment and other factors.」
The company has reconfirmed its policy of targeting a consolidated dividend payout ratio of 30% after returning to profitability and improving capital efficiency, including through treasury-share repurchases. - FY2021RestatedAnnual report
「Under the medium-term management plan Ever Onward 2023, the company intends to achieve a return to profitability, target a consolidated dividend payout ratio of 30%, and work to improve capital efficiency by flexibly repurchasing treasury shares when appropriate, taking into comprehensive consideration the share price, cash position, market environment and other factors.」
Under the new medium-term management plan, the company has reconfirmed its policy of targeting a consolidated dividend payout ratio of 30% after returning to profitability and improving capital efficiency, including through treasury-share repurchases. - FY2020-Q3AdvancedAnnual report
「Based on a resolution of the Board of Directors adopted on 31 October 2019, the company acquired 858,900 treasury shares. As a result, treasury shares increased by ¥2.296 billion during the cumulative third quarter of the current consolidated fiscal year.」
The company reported the acquisition of 858,900 treasury shares for ¥2.296 billion under the resolution adopted in the previous quarter. - FY2020-Q2AdvancedAnnual report
「At a meeting of the Board of Directors held on 31 October 2019, the company resolved matters concerning the acquisition of treasury shares pursuant to Article 156 of the Companies Act, as applied by replacing the relevant terms under Article 165, Paragraph 3 of the Act.」
The company adopted a specific resolution to acquire up to 1 million treasury shares for a total of up to ¥3 billion, citing enhanced shareholder returns and improved capital efficiency. As of 1 November 2019, it had acquired 500,000 shares for ¥1.3075 billion. - FY2019RaisedAnnual report
「Regarding profit returns from the next fiscal year onward, under the medium-term management plan Ever Onward 2020, we intend to strengthen the link with profit growth, maintain a consolidated dividend payout ratio of at least 30%, and work to improve capital efficiency by flexibly repurchasing treasury shares when appropriate, taking into comprehensive consideration the share price, cash position, market environment and other factors.」
The target consolidated dividend payout ratio was raised from 25% in the previous fiscal year to at least 30%, strengthening the policy’s link with profit growth. - FY2018ReframedAnnual report
「Regarding profit returns from the next fiscal year onward, under the three-year medium-term management plan Ever Onward 2020, which began in fiscal 2018, we intend to strengthen the link with profit growth, target a consolidated dividend payout ratio of 25%, and work to improve capital efficiency by flexibly repurchasing treasury shares when appropriate, taking into comprehensive consideration the share price, cash position, market environment and other factors.」
The policy of balancing stable dividends with growth investment has been made more specific by adding a target consolidated dividend payout ratio of 25% and flexible treasury-share repurchases, with greater emphasis on capital efficiency. - FY2017First statedAnnual report
「Regarding profit allocation, we believe that dividends should be paid on the basis of improving results while maintaining stable dividends over the long term, taking into account earnings forecasts, future business development and other factors. We also intend to actively use retained earnings for capital investment and research and development investment from a medium- to long-term perspective, to strengthen our management base and prepare for future business development.」
The company has recorded for the first time its policy of returning profits by maintaining stable dividends while using retained earnings for capital investment and research and development investment.