Gradual Increase Toward a Dividend Payout Ratio of Around 20%
First written in FY2018. 3 of 9 entries say "Raised", first in FY2020. Latest entry: 2026-05-30.
- FY2025RaisedAnnual report
「Under the shareholder return policy in the medium-term management plan for fiscal 2025 through fiscal 2027, … the Company will set the minimum annual dividend per share at ¥103.8, equivalent to DOE of 4% based on actual results for the fiscal year ended March 2025, and will target a total payout ratio of 50% or more.」
Based on actual results equivalent to DOE of 4%, the Company updated its policy for fiscal 2025 through fiscal 2027 to set a minimum dividend of ¥103.8 per share and target a total payout ratio of 50% or more. - FY2023AdvancedAnnual report
「The Company plans active shareholder returns, targeting DOE of 4% in fiscal 2024, and raised DOE to 3.5% in fiscal 2022 as forecast.」
Against the fiscal 2024 DOE target of 4%, DOE was raised to 3.5% in fiscal 2022. - FY2022AdvancedAnnual report
「With a target of DOE of 4% in fiscal 2024, DOE was raised to 3% in fiscal 2021 as planned.」
Against the fiscal 2024 DOE target of 4%, DOE was raised to 3% in fiscal 2021 as planned. - FY2021ReframedAnnual report
「The Company has decided to review its shareholder return policy in the medium-term management plan beginning in fiscal 2021 and adopt DOE (dividend on equity attributable to the consolidated equity ratio) as its primary dividend financial metric. Taking comprehensive account of cash flows and the maintenance of a sound financial base over the medium to long term, the Company has decided to pursue active shareholder returns, targeting DOE of 4% in fiscal 2024.」
The primary shareholder return metric changed from a dividend payout ratio of 20% or more to DOE, with the policy shifting to a target DOE of 4% in fiscal 2024. - FY2020RaisedAnnual report
「The target is to gradually raise the dividend payout ratio, while ensuring that annual dividends per share do not fall below those of the previous fiscal year and taking comprehensive account of performance, financial position and the business environment, to maintain it at 20% or more.」
The stated target for the dividend payout ratio was raised from approximately 20% in the previous fiscal year to 20% or more. - FY2018First statedAnnual report
「The medium-term target for the dividend payout ratio is to raise it gradually to approximately 20%, while ensuring that annual dividends per share do not fall below those of the previous fiscal year and taking comprehensive account of performance, financial position and the business environment.」
The Company has explicitly stated for the first time its target of raising the dividend payout ratio to approximately 20% over the medium term, on the condition that annual dividends do not fall below those of the previous fiscal year.