Capital Allocation Considering Growth Investment, Shareholder Returns and Cash Liquidity
First written in FY2020. 3 of 5 entries say "Restated". Latest entry: 2026-05-08.
- 2026-05-08RestatedEarnings presentation
「Regarding dividends, after making the investments necessary for sustainable medium- to long-term growth, we will strive to maintain our progressive dividend policy while also taking into account indicators such as the dividend payout ratio and DOE.」
The company reaffirmed its capital allocation policy of maintaining progressive dividends while making growth investments and considering the dividend payout ratio and DOE. - FY2025RestatedAnnual report
「The Group's basic capital allocation policy is to allocate a certain percentage of net income for the period to growth investment while improving liquidity on hand. With respect to dividends, after making the investments necessary for sustainable growth from a medium- to long-term perspective, we will work to maintain a progressive dividend policy while also taking into account indicators such as the payout ratio and DOE (dividend on equity).」
It continues to pursue a capital allocation policy combining growth investment, liquidity on hand and progressive dividends. - FY2024ReframedAnnual report
「With respect to dividends, after making the investments necessary for sustainable growth from a medium- to long-term perspective, we will work to maintain a progressive dividend policy while also taking into account indicators such as the payout ratio and DOE (dividend on equity).」
In addition to the balance between stable, sustainable shareholder returns and growth investment under the previous policy, it explicitly states a progressive dividend policy. - FY2022RestatedAnnual report
「The Group's basic capital allocation policy is to allocate a certain percentage of net income for the period to growth investment while improving liquidity on hand. With respect to dividends, our basic principle is to maintain shareholder returns at stable and sustainable levels, while considering the balance between growth investment to raise ROE and the payout ratio based on the dividend on equity (DOE).」
It reconfirms liquidity on hand, growth investment, stable shareholder returns, and the balance between DOE and the payout ratio as the basic capital allocation policy. - FY2020First statedAnnual report
「The Group's basic capital allocation policy is to allocate a certain percentage of net income for the period to growth investment while improving liquidity on hand. With respect to dividends, our basic principle is to maintain shareholder returns at stable and sustainable levels, while considering the balance between growth investment to raise ROE and the payout ratio based on the dividend on equity (DOE).」
It explicitly states that liquidity on hand, growth investment, stable shareholder returns, and the balance between DOE and the payout ratio are the basic capital allocation policy.