Decision and Details
Board of DirectorsChanges to the shareholder benefits program
The number of shareholders holding small lots of shares increased sharply, partly because the program was structured to disproportionately favor shareholder benefit yields for such shareholders. In addition, the Company resumed dividend payments in the fiscal year ended June 2025, and the environment is gradually becoming more conducive to targeting stable dividends.
Shareholder-related costs are expected to continue increasing and are certain to place pressure on management.
| Item | Details |
|---|---|
| Matter Covered | Changes to the shareholder benefits program |
| Decision-Making Body | Board of Directors |
| Decision Date | 10 August 2026 |
| Implementation Date | The changes are scheduled to apply to shareholder benefits with a record date of 31 December 2026. |
| Period Covered | The shareholder benefit program applicable to record dates on or after 31 December 2026 |
| Amount | Shareholder-related costs: ¥56 million in the fiscal year ended June 2020 and ¥186 million in the fiscal year ended June 2026; voucher denomination: changed from ¥1,000 to ¥500; benefit amounts after the change: ¥500, ¥1,500, ¥2,000, ¥2,500, ¥3,500, ¥5,000 and ¥6,500 |
| Quantity / scale | Voucher usage requirement: one voucher for each purchase of ¥1,000, including tax; benefit frequency: once or twice a year; verification of continuous shareholding: 3 consecutive entries on the shareholder register for 1 year or more, and 7 consecutive entries for 3 years or more |
| Impact on Business Performance | Shareholder-related costs are expected to continue increasing and are certain to place pressure on management. |
| Reason | The number of shareholders holding small lots of shares increased sharply, partly because the program was structured to disproportionately favor shareholder benefit yields for such shareholders. In addition, the Company resumed dividend payments in the fiscal year ended June 2025, and the environment is gradually becoming more conducive to targeting stable dividends. |
| Future plans | The new program will begin with benefits for which the record date is 31 December 2026. Details of the special benefits will be announced on the Company's website and elsewhere once finalized. Benefits with a record date of 30 June are scheduled to be shipped in late September, and benefits with a record date of 31 December are scheduled to be shipped in early March of the following year. Use of the vouchers at 株式会社ヴォーグ学園 will end on 30 September 2026, and the service for transferring voucher value to クラフトハートトーカイ membership points is scheduled to end on 28 February 2027. |
Items this document does not state (2)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Shareholder-related costs have increased due in part to the rise in shareholders holding small lots of shares, and these costs are expected to continue placing pressure on management if left unchanged. In addition, the Company resumed dividend payments in the fiscal year ended June 2025, and the environment is gradually becoming more conducive to targeting stable dividends. The Company therefore intends to optimize the balance between dividends and shareholder benefits, with dividends as the primary focus.