Policy of prioritizing retained earnings and considering future dividends
First written in FY2015. 10 of 29 entries say "Achieved", first in FY2021. Latest entry: FY2026.
11 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「From the fiscal year ending July 2028 onward, as the company pursues growth in its existing businesses and upfront investment in creating a third business toward achieving the new medium-term management plan for the fiscal years ending July 2027 through July 2029, its basic policy will be to shift to progressive dividends starting with the ordinary dividend for the fiscal year ending July 2027 and pay stable, continuous dividends with DOE of at least 5% as a guideline, thereby balancing growth investment with stable shareholder returns that are not affected by temporary fluctuations in performance.」
In addition to the total shareholder return policy targeting a payout ratio of 50% for the fiscal years ending July 2024 through July 2027, the company has reorganized its policy for the fiscal year ending July 2028 onward to target progressive dividends and DOE of at least 5%. The FY2026 annual dividend was ¥27 per share. - FY2025AchievedAnnual report
「With respect to the distribution of surplus for the fiscal year, the Company resolved at a meeting of the Board of Directors held on 11 September 2025 to pay a dividend of ¥26 per share, with 31 July 2025 as the record date. Accordingly, the annual dividend for the fiscal year will be ¥26 per share.」
Under the four-year total shareholder return policy based on a payout ratio of 50% as a guideline, the Company resolved on an FY2025 annual dividend of ¥26 per share, totaling ¥1,457 million. - FY2025-H1AchievedAnnual report
「At a meeting of the Board of Directors held on 12 September 2024, the Company resolved to pay a year-end dividend to shareholders recorded on the shareholder register as of 31 July 2024 as follows: ① total dividends: ¥1,267 million; ② dividend per share: ¥22.00; ③ effective date of dividend payment claims and payment commencement date: 8 October 2024.」
For the FY2024 annual dividend, the Company disclosed total dividends of ¥1,267 million and payment of ¥22 per share, and paid the dividend announced in its FY2024 annual report. - FY2024RaisedAnnual report
「Specifically, for the four years from the fiscal year ending July 2024 through the fiscal year ending July 2027, the Company aims to return value to shareholders through total shareholder returns, comprising stable dividends based on a payout ratio of 50% as a guideline and flexible share buybacks depending on share price levels, market conditions and other factors.」
The Company raised its policy from the previous policy based on a payout ratio of 30% and DOE of 5% as guidelines to a policy based on a payout ratio of 50% as a guideline for the four years from the fiscal year ending July 2024 through the fiscal year ending July 2027. It resolved on an FY2024 annual dividend of ¥22 per share, totaling ¥1,267 million. - FY2024-Q1AchievedAnnual report
「At a meeting of the Board of Directors held on 7 September 2023, the Company resolved to pay a year-end dividend to shareholders recorded on the shareholder register as of 31 July 2023 as follows: ① total dividends: ¥772 million; ② dividend per share: ¥40.00; ③ effective date of dividend payment claims and payment commencement date: 10 October 2023.」
For the FY2023 annual dividend, the Company disclosed that payment was made in the total amount of ¥772 million, at ¥40 per share. - FY2023AchievedAnnual report
「With respect to the distribution of surplus for the fiscal year, the Company resolved at a meeting of the Board of Directors held on 7 September 2023 to pay a dividend of ¥40 per share, with 31 July 2023 as the record date. Accordingly, the annual dividend for the fiscal year will be ¥40 per share.」
Under the total shareholder return policy based on a payout ratio of 30% and DOE of 5% as guidelines, the Company resolved on an FY2023 annual dividend of ¥40 per share, totaling ¥772 million. - FY2023-Q2RestatedAnnual report
「7 September 2022 | Board of Directors | Ordinary shares | 764 | 38.00 | 31 July 2022 | 11 October 2022 | Retained earnings」
For the FY2022 year-end dividend, the Company reiterates that the dividend was paid in the total amount of ¥764 million, at ¥38 per share, with 11 October 2022 as the effective date. - FY2023-Q1AchievedAnnual report
「At a meeting of the Board of Directors held on 7 September 2022, the Company resolved to pay a year-end dividend to shareholders recorded on the shareholder register as of 31 July 2022 as follows: ① total dividends: ¥764 million; ② dividend per share: ¥38.00; ③ effective date of dividend payment claims and payment commencement date: 11 October 2022.」
For the FY2022 year-end dividend, the Company disclosed total dividends of ¥764 million, a dividend of ¥38 per share, and payment commencing on 11 October 2022. - FY2022RaisedAnnual report
「The Company's basic policy is to return value to shareholders through total shareholder returns after securing funds to maintain its business foundation and achieve sustainable growth, while comprehensively considering trends in performance and its financial position, retained earnings and other factors. Specifically, the Company aims to return value to shareholders through stable and consistent dividends based on a payout ratio of 30% and a dividend on equity (DOE) of 5% as guidelines, flexibly supplemented by share buybacks.」
The policy has been made more specific by adding a DOE of 5% to the previous policy based on a payout ratio of 30% as a guideline and combining it with share buybacks in a total shareholder return policy. - FY2022-Q2AchievedAnnual report
「Resolution | Class of shares | Total dividends (¥ million) | Dividend per share (¥) | Record date | Effective date | Source of dividends | 8 September 2021 | Board of Directors | Ordinary shares | 2,150 | 100.00 | 31 July 2021 | 6 October 2021 | Retained earnings」
For the FY2021 year-end dividend resolved at ¥100 per share, the Company disclosed that the dividend was paid in the total amount of ¥2,150 million, with 6 October 2021 as the effective date. - FY2022-Q1AchievedAnnual report
「At a meeting of the Board of Directors held on 8 September 2021, the Company resolved to pay a year-end dividend to shareholders recorded on the shareholder register as of 31 July 2021 as follows: ① total dividends: ¥2,150 million; ② dividend per share: ¥100.00; ③ effective date of dividend payment claims and payment commencement date: 6 October 2021.」
For the ¥100 per-share year-end dividend resolved for FY2021, the Company disclosed total dividends of ¥2,150 million and payment commencing on 6 October 2021. - FY2021AchievedAnnual report
「At a meeting of the Board of Directors held on 8 September 2021, the Company resolved to pay a dividend of ¥100 per share, comprising an ordinary dividend of ¥30 and a commemorative dividend of ¥70, with 31 July 2021 as the record date. Accordingly, the annual dividend for the fiscal year will be ¥100 per share.」
The Company resolved to pay a dividend for the fiscal year for the first time after having paid no dividends since its founding, disclosing a dividend of ¥100 per share, including a commemorative dividend of ¥70. - FY2021-Q3RestatedAnnual report
「Dividend payments Not applicable.」
The Company disclosed that no dividends were paid during the nine-month cumulative period of the current consolidated fiscal year. - FY2021-Q2RestatedAnnual report
「Dividend payments Not applicable.」
The Company disclosed that no dividends were paid during the six-month cumulative period of the current consolidated fiscal year. - FY2020RaisedAnnual report
「The Company will work to provide stable and consistent dividends based on a payout ratio of 30% as a guideline. Over the medium to long term, it aims to return value to shareholders through total shareholder returns, including dividends and share buybacks, taking comprehensive account of trends in performance, its financial position, business investment plans and retained earnings.」
The policy has been made more specific, moving from the policy of paying no dividends since the Company's founding to a stable dividend policy based on a payout ratio of 30% as a guideline, together with a total shareholder return policy including share buybacks. - FY2019RestatedAnnual report
「The Company has not paid dividends since its founding, prioritizing the retention of funds necessary for future business expansion and strengthening its financial position. However, recognizing the maximization of shareholder value as one of its important management objectives, the Company intends to consider future dividend payments to shareholders comprehensively, taking into account trends in performance, its financial position, future business and investment plans, and retained earnings.」
The policy of continuing to pay no dividends while prioritizing retained earnings and considering dividends in the future is reiterated. - FY2018RestatedAnnual report
「The Company has not paid dividends since its founding. However, recognizing the maximization of shareholder value as one of its important management objectives, the Company intends to consider future dividend payments to shareholders comprehensively, taking into account trends in performance, its financial position, and future business and investment plans, while balancing them against retained earnings.」
The policy of continuing to pay no dividends while prioritizing retained earnings and considering dividends in the future is reiterated. The possibility and timing of dividend payments remain undecided. - FY2017RestatedAnnual report
「The Company has not paid dividends since its founding. However, recognizing the maximization of shareholder value as one of its important management objectives, the Company intends to consider future dividend payments to shareholders comprehensively, taking into account trends in performance, its financial position, and future business and investment plans, while balancing them against retained earnings.」
The policy of continuing to pay no dividends while prioritizing retained earnings and considering dividends in the future is reiterated. - FY2017-Q3RestatedAnnual report
「Dividend payments Not applicable」
The Company disclosed that no dividends were paid during the nine-month cumulative period of the current consolidated fiscal year. - FY2016SoftenedAnnual report
「The Company will consider distributing profits to shareholders in the future while taking into account its operating results and financial position, but the possibility and timing of dividend payments have not been determined at this time.」
The policy of considering dividends in the future remains in place, while the possibility and timing of dividend payments are explicitly stated to be undecided. - FY2015First statedAnnual report
「The Company has not paid dividends since its founding, prioritizing the retention of funds necessary for future business expansion and strengthening its financial position. However, recognizing the maximization of shareholder value as one of its important management objectives, the Company intends to consider future dividend payments to shareholders comprehensively, taking into account trends in performance, its financial position, and future business and investment plans, while balancing them against retained earnings.」
The Company currently pays no dividends, prioritizing retained earnings for business expansion and strengthening its financial position while considering dividends in the future.