Stable Dividends and Shareholder Returns with a Dividend Payout Ratio of 30% or Higher
First written in FY2016. 18 of 38 entries say "Advanced", first in FY2018-Q2. Latest entry: FY2026.
- FY2026Higher dividends, including a commemorative dividend, and a lower payout ratio due to one-off gainsAnnual report
「Regarding dividends of surplus for the fiscal year (the 41st fiscal year), in accordance with the basic policy described above, an interim dividend of ¥26.00 per share has been paid and a year-end dividend of ¥31.00 per share is planned, including a ¥5.00 commemorative dividend for the 40th anniversary. As a result, the consolidated payout ratio for the fiscal year is expected to be 22.0% (35.4% excluding the gain on the bargain purchase).」
The annual dividend is expected to be ¥57, an increase of ¥9 from ¥48 in the previous fiscal year. Meanwhile, the payout ratio including the gain on the bargain purchase fell to 22.0%, but is expected to be 35.4% excluding that gain. - FY2026-H1AdvancedAnnual report
「Board of Directors meeting held on 13 November 2025 Common shares 1,985 26 30 September 2025 8 December 2025 Retained earnings」
The interim dividend was ¥26 per share, an increase from ¥24 per share in the same period of the previous year. The Company reported progress in shareholder returns in line with its stable and progressive dividend policies. - FY2025AdvancedAnnual report
「Regarding dividends of surplus for the fiscal year (the 40th fiscal year), in accordance with the basic policy described above, an interim dividend of ¥24.00 per share has been paid and a year-end dividend of ¥24.00 per share is planned. As a result, the consolidated payout ratio for the fiscal year is expected to be 40.3%.」
Both the interim and year-end dividends are set at ¥24 per share, resulting in an annual dividend of ¥48 and an expected payout ratio of 40.3%. The progressive dividend policy and policy of a payout ratio of at least 30% continued. - FY2025-H1AdvancedAnnual report
「At the Board of Directors meeting held on 6 November 2024, the following resolution was adopted concerning the interim dividend for the current period.」
The interim dividend was set at ¥24 per share, or ¥1,832 million in total, an increase from ¥22 per share in the same period of the previous year. - FY2024Lower payout ratio but above target; progressive dividend policy continuedAnnual report
「The basic policy of the Group is to implement progressive dividends, maintaining or increasing dividends while securing the retained earnings necessary for future business development and working to improve performance, and to promote the further return of profits generated by improved performance. The Group will strive to maintain and improve a payout ratio of 30% of consolidated net income attributable to owners of the parent.」
The Company continued its policy of progressive dividends and maintaining and improving a 30% payout ratio. The payout ratio for FY2024 was 36.7%, down from 42.0% in FY2023 but above 30%. Both the interim and year-end dividends were ¥22 per share. - FY2024-Q3RestatedAnnual report
「At a meeting of the Board of Directors held on 14 November 2023, the following resolution was passed concerning the interim dividend for the current fiscal year.」
Payment of the ¥22 per-share interim dividend, ¥1,831 million in total, began on 8 December, continuing the stable and increasing dividend policy. - FY2024-Q2AdvancedAnnual report
「At a meeting of the Board of Directors held on 14 November 2023, the following resolution was passed concerning the interim dividend for the current fiscal year.」
The interim dividend for the fiscal year was set at ¥22 per share, or ¥1,831 million in total, an increase from ¥20 per share in the same period of the previous year. - FY2024-Q1AdvancedAnnual report
「23 June 2023 Annual General Meeting of Shareholders Common shares 1,690 20 31 March 2023 26 June 2023 Retained earnings」
A total of ¥1,690 million, or ¥20 per share, was paid as the year-end dividend for the fiscal year ended March 2023, an increase from ¥18 per share in the previous fiscal year. - FY2023ReframedAnnual report
「The basic policy of the Group is to implement progressive dividends, maintaining or increasing dividends while securing the retained earnings necessary for future business development and working to improve performance, and to promote the further return of profits generated by improved performance. The Group will strive to maintain and improve a payout ratio of 30% of consolidated net income attributable to owners of the parent.」
The wording changed from the previous target of “at least 30%” to a basic policy of “maintaining and improving 30%” and progressive dividends through maintaining or increasing dividends. The payout ratio for the fiscal year was 42.0%. - FY2023-Q3AdvancedAnnual report
「At a meeting of the Board of Directors held on 8 November 2022, the following resolution was passed concerning the interim dividend for the fiscal year: (a) Total interim dividend: ¥1,690 million (b) Dividend per share: ¥20.00」
The interim dividend was ¥20 per share, an increase from ¥19 per share for the interim dividend in the previous fiscal year. Stable shareholder returns continued. - FY2023-Q2AdvancedAnnual report
「At a meeting of the Board of Directors held on 8 November 2022, the following resolution was passed concerning the interim dividend for the fiscal year: (a) Total interim dividend: ¥1,690 million (b) Dividend per share: ¥20.00」
The interim dividend after the stock split was ¥20 per share, an increase from ¥19 per share for the interim dividend in the previous fiscal year. - FY2022AchievedAnnual report
「With regard to dividends of surplus, the Company targets a payout ratio of at least 30% of consolidated net income attributable to owners of the parent, based on its policy of maintaining stable dividends and actively using retained earnings to expand the businesses of the Group, and will promote the further return of profits generated by improved performance through measures including stock splits and dividend increases. As a result, the consolidated payout ratio for the fiscal year was 32.2%.」
The payout ratio target of at least 30% remained in place. The ratio was 32.2% for the fiscal year, up from 27.1% in the previous fiscal year and above the target. - FY2022-Q3RestatedAnnual report
「At a meeting of the Board of Directors held on 9 November 2021, the following resolution was passed concerning the interim dividend for the fiscal year: (a) Total interim dividend: ¥1,731 million (b) Dividend per share: ¥19.00」
A ¥19 per-share interim dividend was paid for the fiscal year, providing continuing shareholder returns. - FY2022-Q2AdvancedAnnual report
「At a meeting of the Board of Directors held on 9 November 2021, the following resolution was passed concerning the interim dividend for the fiscal year: (a) Total interim dividend: ¥1,731 million (b) Dividend per share: ¥19.00」
The interim dividend for the fiscal year was set at ¥1,731 million in total, or ¥19 per share. The per-share amount reflects the stock split effective 1 April 2021. - FY2022-Q1AdvancedAnnual report
「23 June 2021 Annual General Meeting of Shareholders Common shares 1,639 36 31 March 2021 24 June 2021 Retained earnings」
A total of ¥1,639 million, or ¥36 per share, was paid as the year-end dividend for the fiscal year ended March 2021, an increase from ¥31 per share in the previous fiscal year. - FY2021-Q3RestatedAnnual report
「At a meeting of the Board of Directors held on 5 November 2020, the following resolution was passed concerning the interim dividend for the fiscal year: (a) Total interim dividend: ¥1,499 million (b) Dividend per share: ¥33.00」
A ¥33 per-share interim dividend was paid, continuing the increase from the ¥30 per-share interim dividend in the previous fiscal year. - FY2021-Q2AdvancedAnnual report
「At a meeting of the Board of Directors held on 5 November 2020, the following resolution was passed concerning the interim dividend for the fiscal year: (a) Total interim dividend: ¥1,499 million (b) Dividend per share: ¥33.00」
The interim dividend was set at ¥33 per share, an increase from ¥30 per share for the interim dividend in the previous fiscal year. - FY2021-Q1AdvancedAnnual report
「24 June 2020 Annual General Meeting of Shareholders Common shares 1,359 31 31 March 2020 25 June 2020 Retained earnings」
A year-end dividend of ¥31 per share was paid for the fiscal year ended March 2020, an increase from the previous fiscal year's year-end dividend of ¥28 per share. - FY2020Continued failure to meet the payout ratio target and dividend increaseAnnual report
「With regard to dividends of surplus, the Company targets a payout ratio of at least 30% of consolidated net income attributable to owners of the parent, based on its policy of maintaining stable dividends and actively using retained earnings to expand the businesses of the Group, and will promote the further return of profits generated by improved performance through measures including stock splits and dividend increases. As a result, the consolidated payout ratio for the fiscal year was 27.1%.」
The Company continued to target a payout ratio of at least 30%, but the payout ratio for the fiscal year was 27.1%, below the target. Meanwhile, the interim dividend was ¥30 per share and the year-end dividend was ¥31 per share. - FY2020-Q3AdvancedAnnual report
「At a meeting of the Board of Directors held on 6 November 2019, the following resolution was passed concerning the interim dividend for the fiscal year: (a) Total interim dividend: ¥1,287 million (b) Dividend per share: ¥30.00」
The interim dividend was set at ¥30 per share, an increase from ¥28 per share for the interim dividend in the previous fiscal year. - FY2020-Q1RestatedAnnual report
「26 June 2019 Annual General Meeting of Shareholders Common shares 1,199 28 31 March 2019 27 June 2019 Retained earnings」
A total of ¥1,199 million, or ¥28 per share, was paid as the year-end dividend for the fiscal year ended March 2019. The Company continued its stable dividend policy. - FY2019Continued failure to meet the payout ratio target and maintenance of the dividendAnnual report
「The Company targets a payout ratio of at least 30% of consolidated net income attributable to owners of the parent and will promote the further return of profits generated by improved performance through measures including stock splits and dividend increases. As a result, the consolidated payout ratio for the fiscal year was 29.8%.」
The Company continued to target a payout ratio of at least 30%, but the ratio was 29.8% for the fiscal year, below the target. Both the interim and year-end dividends were ¥28 per share. - FY2019-Q3RestatedAnnual report
「The Company paid total interim dividends of ¥1,155.196 million, or ¥28.00 per share, from 6 December 2018.」
A ¥28 per-share interim dividend was paid, maintaining shareholder returns at the same level as in the same period of the previous year. - FY2019-Q2AdvancedAnnual report
「At a meeting of the Board of Directors held on 6 November 2018, the Company resolved the following with respect to the interim dividend for the fiscal year. (a) Total interim dividend: ¥1,155.196 million (b) Dividend per share: ¥28.00」
The Company resolved to pay an interim dividend of ¥28 per share, an increase from ¥22 in the same period of the previous year. Stable dividends have continued. - FY2019-Q1RestatedAnnual report
「27 June 2018 Annual General Meeting of Shareholders Common shares 1,113,380 28 31 March 2018 28 June 2018 Retained earnings」
The Company paid total year-end dividends of ¥1,113.380 million, or ¥28 per share, for the fiscal year ended March 2018. Stable dividends have continued. - FY2018Continued failure to meet the payout ratio targetAnnual report
「Regarding dividends from retained earnings, based on the continuation of stable dividends and the active use of retained earnings to expand the Group's business, the Company targets a consolidated payout ratio of at least 30% of net income attributable to owners of the parent. It will promote greater shareholder returns through improved performance, including stock splits and dividend increases. As a result, the consolidated payout ratio for the fiscal year was 27.4%.」
While maintaining its target payout ratio of at least 30%, the Company's consolidated payout ratio for the fiscal year was 27.4%, below target for the second consecutive year after 27.8% in the previous fiscal year. Interim and year-end dividends of ¥22 and ¥28, respectively, were paid. - FY2018-Q3RestatedAnnual report
「The Company paid total interim dividends of ¥868.230 million, or ¥22.00 per share, from 7 December 2017.」
The Company paid an interim dividend of ¥22 per share, continuing stable shareholder returns. - FY2018-Q2AdvancedAnnual report
「6 November 2017 Board of Directors Common shares 868,230 22 30 September 2017 7 December 2017 Retained earnings」
The Company resolved to pay an interim dividend of ¥22 per share. Although this was an increase from the ¥20 interim dividend in the same period of the previous year, it did not represent an increase in the payout ratio target itself. - FY2018-Q1RestatedAnnual report
「28 June 2017 Annual General Meeting of Shareholders Common shares 985,740 25 31 March 2017 29 June 2017 Retained earnings」
The Company paid total year-end dividends of ¥985.740 million, or ¥25 per share, for the fiscal year ended March 2017. Stable dividends have continued, but the quarterly report contains no new disclosure concerning the payout ratio target. - FY2017Failure to meet the payout ratio targetAnnual report
「As a result, the consolidated payout ratio for the fiscal year was 27.8%.」
While targeting a payout ratio of at least 30%, the consolidated payout ratio for the fiscal year was 27.8%. Interim and year-end dividends of ¥20 and ¥25, respectively, were paid. - FY2017-Q3RestatedAnnual report
「The Company paid total interim dividends of ¥788 million, or ¥20.00 per share, from 5 December 2016.」
The Company paid an interim dividend, demonstrating continued shareholder returns. - FY2017-Q2RestatedAnnual report
「At a meeting of the Board of Directors held on 7 November 2016, the Company passed the following resolution concerning the interim dividend for the current fiscal year.」
The Company resolved to pay total interim dividends of ¥788 million, or ¥20 per share, indicating continued shareholder returns. - FY2017-Q1RestatedAnnual report
「28 June 2016 Annual General Meeting of Shareholders Common shares 985,741 25 31 March 2016 29 June 2016 Retained earnings」
During the quarter, the Company paid total dividends of ¥985.741 million on common shares, or ¥25 per share. - FY2016First statedAnnual report
「Based on the continuation of stable dividends and the active use of retained earnings to expand the Group's business, the Company targets a consolidated payout ratio of at least 30% of net income attributable to owners of the parent. It will promote greater shareholder returns through improved performance, including stock splits and dividend increases.」
The consolidated payout ratio for the fiscal year was 33.7%.