Long-Term Stable Dividends and a 20–30% Consolidated Payout Ratio Target
First written in FY2016. 15 of 25 entries say "Restated". Latest entry: 2026-07-10.
- 2026-07-10RestatedManagement Planning
「Maintain stable dividends over the long term」
The policy of maintaining stable dividends over the long term was reiterated, while shareholder returns were described as flexible and including share repurchases. - FY2026-H1RaisedAnnual report
「Dividend per share: ¥53.50」
The interim dividend was ¥53.50 per share, totaling ¥1,979 million, up from ¥23 in the same period of the previous year. The per-share dividend includes a ¥27 commemorative dividend for the company’s 80th anniversary. - 2026-06-05RaisedEarnings
「Breakdown of the dividend at the end of the second quarter of the fiscal year ending October 2026 Regular dividend: ¥26.50 Commemorative dividend: ¥27.00」
The interim dividend was ¥53.50 per share, including a commemorative dividend in addition to the regular dividend. - FY2025-H1RaisedAnnual report
「At a meeting of the Board of Directors held on 6 June 2025, the company resolved the following interim dividend for the period. Common shares; 863; 23.0」
The interim dividend was ¥23 per share, totaling ¥863 million, up from ¥20 per share and ¥750 million in total in the same period of the previous year. - FY2024RaisedAnnual report
「Although the company faces a challenging environment, including intensifying global competition, the need to address environmental conservation and expanding corporate social responsibility, the year-end dividend was set at ¥20.00 per share, or ¥40.00 per share including the interim dividend, in order to return profits to shareholders.」
The annual dividend totaled ¥40, comprising an interim dividend of ¥20 and a year-end dividend of ¥20, up from ¥34 in the previous year. Dividend payments were increased under the policy of considering long-term stable dividends and the consolidated dividend payout ratio. - FY2024-Q2RaisedAnnual report
「At a meeting of the Board of Directors held on 7 June 2024, the company resolved the following interim dividend for the period.」
The interim dividend was ¥20 per share, totaling ¥750 million, up from ¥17 per share and ¥638 million in total in the same period of the previous year. Dividend payments have been increased under the policy centered on long-term stable dividends. - FY2024-Q1RestatedAnnual report
「Annual General Meeting of Shareholders, 27 January 2024; common shares; 638; 17.0; 31 October 2023; 29 January 2024; retained earnings」
Based on a resolution of the Annual General Meeting of Shareholders, the company paid a dividend of ¥17 per share, totaling ¥638 million. The payment was in line with the policy centered on long-term stable dividends. - FY2023-Q2RestatedAnnual report
「At a meeting of the Board of Directors held on 2 June 2023, the company resolved the following interim dividend for the period.」
The interim dividend totaled ¥638 million, or ¥17 per share, at the same level as the interim dividend in the previous period. - FY2023-Q1RestatedAnnual report
「Annual General Meeting of Shareholders, 28 January 2023; common shares; 638; 17.0; 31 October 2022; 30 January 2023; retained earnings」
Based on a resolution of the Annual General Meeting of Shareholders, the company paid a dividend of ¥17 per share, totaling ¥638 million. The payment is described as being in line with the policy centered on long-term stable dividends. - FY2022-Q3RestatedAnnual report
「At a meeting of the Board of Directors held on 3 June 2022, the company resolved the following interim dividend for the period.」
The interim dividend resolved on 3 June 2022 was ¥17 per share, totaling ¥638 million, at the same level as the interim dividend in the previous period. The payment is described as being in line with the policy centered on long-term stable dividends. - FY2022-Q2RestatedAnnual report
「At a meeting of the Board of Directors held on 3 June 2022, the company resolved the following interim dividend for the period.」
At a meeting of the Board of Directors held on 3 June 2022, the company resolved an interim dividend of ¥17 per share, totaling ¥638 million. It was at the same level as the interim dividend in the previous period under the dividend policy centered on long-term stable dividends. - FY2022-Q1RestatedAnnual report
「Annual General Meeting of Shareholders, 29 January 2022; common shares; 637; 17.0; 31 October 2021; 31 January 2022; retained earnings」
Based on a resolution of the Annual General Meeting of Shareholders held on 29 January 2022, the company paid a dividend of ¥17 per share. The disclosed dividend was at the same level as the interim dividend in the previous period, under the policy centered on long-term stable dividends. - FY2021-Q2Increase the interim dividend to ¥17 per shareAnnual report
「At a meeting of the Board of Directors held on 4 June 2021, the company resolved the following interim dividend for the period.」
The interim dividend for the period was ¥17 per share, totaling ¥647 million, up from ¥11 per share in the same period of the previous year. Dividend payments have recovered under the policy centered on long-term stable dividends. - FY2020SoftenedAnnual report
「Although the company faces a challenging environment, including the impact of COVID-19, intensifying global competition, the need to address environmental conservation and expanding corporate social responsibility, the year-end dividend was set at ¥23.00 per share, or ¥34.00 per share including the interim dividend, in order to return profits to shareholders.」
The annual dividend totaled ¥34, comprising an interim dividend of ¥11 and a year-end dividend of ¥23, down from ¥53 in the previous year. The policy of considering long-term stable dividends and the consolidated dividend payout ratio remains in place, but the actual dividend amount was reduced in response to the challenging operating environment. - FY2020-Q3RestatedAnnual report
「At a meeting of the Board of Directors held on 26 June 2020, the company resolved the following interim dividend for the period.」
The interim dividend for the period was resolved and paid at ¥11 per share, totaling ¥418 million, confirming the dividend level after the reduction disclosed previously. - FY2020-Q2SoftenedAnnual report
「At a meeting of the Board of Directors held on 26 June 2020, the company resolved the following interim dividend for the period.」
The interim dividend for the period totaled ¥418 million, or ¥11 per share, down from ¥26.50 per share in the same period of the previous year. The actual dividend amount was reduced under the policy of long-term stable dividends. - FY2020-Q1RestatedAnnual report
「Annual General Meeting of Shareholders, 25 January 2020; common shares; 1,008; 26.5; 31 October 2019; 27 January 2020; retained earnings」
Based on a resolution of the Annual General Meeting of Shareholders, the company paid a dividend totaling ¥1,008 million, or ¥26.50 per share, on 27 January 2020. It is described as a payment made in line with the policy of emphasizing long-term stable dividends. - FY2019RestatedAnnual report
「The company’s basic policy on the allocation of profits is to maintain long-term stable dividends, taking into account returns to shareholders, future earnings forecasts and future business development.」
The company did not disclose the specific 20%–30% dividend payout ratio and continues its policy of considering long-term stable dividends and the consolidated dividend payout ratio. Dividends for the period totaled ¥53 per share for the interim and year-end payments. - FY2019-Q3RestatedAnnual report
「At a meeting of the Board of Directors held on 7 June 2019, the company resolved the following interim dividend for the period.」
The company resolved an interim dividend of ¥1,008 million in total, or ¥26.50 per share, for the period and paid it on 1 July 2019. The dividend was at the same level as in the previous period, and no return to a specific dividend payout ratio target was disclosed. - FY2019-Q2RestatedAnnual report
「Total interim dividend: ¥1,008 million; dividend per share: ¥26.50」
At a meeting of the Board of Directors held on 7 June 2019, the company resolved an interim dividend totaling ¥1,008 million, or ¥26.50 per share. The dividend was at the same level as in the previous period, and no return to a specific dividend payout ratio target was disclosed. - FY2019-Q1RestatedAnnual report
「Annual General Meeting of Shareholders, 26 January 2019; common shares; 1,008; 26.5; 31 October 2018; 28 January 2019; retained earnings」
The company resolved to pay a dividend totaling ¥1,008 million, or ¥26.50 per share, and the payment became effective on 28 January 2019. It was at the same level as in the corresponding period of the previous year, and no return to a specific dividend payout ratio target was disclosed. - FY2018-Q3RestatedAnnual report
「At a meeting of the Board of Directors held on 8 June 2018, the company resolved the following interim dividend for the period.」
The company resolved and paid an interim dividend totaling ¥1,008 million, or ¥26.50 per share. The dividend was at the same level as in the previous period, and no return to a specific dividend payout ratio target was disclosed. - FY2018-Q2RestatedAnnual report
「Total interim dividend: ¥1,008 million; dividend per share: ¥26.50」
The company resolved to pay a total interim dividend of ¥1,008 million, or ¥26.50 per share, for the period. This was at the same level as the interim dividend for the previous period, and there was no disclosure indicating a return to a specific dividend payout ratio target. - FY2017SoftenedAnnual report
「The company’s basic policy on the allocation of profits is to maintain long-term stable dividends, taking into account returns to shareholders, future earnings forecasts and future business development. The company will implement a dividend policy that considers the level of retained earnings appropriate to changes in the operating environment, long-term stable dividends and the consolidated dividend payout ratio.」
The policy of considering long-term stable dividends and the consolidated dividend payout ratio continues, but the previously stated specific payout ratio of 20%–30% is no longer disclosed. Dividends for the period totaled ¥53 per share for the interim and year-end payments. - FY2016First statedAnnual report
「The company will implement a dividend policy that takes into account its level of retained earnings and long-term stable dividends, together with a target consolidated dividend payout ratio of 20%–30%.」
The company stated a dividend policy targeting long-term stable dividends and a consolidated dividend payout ratio of 20%–30%. It also stated that, under the policy from the 74th fiscal period onward, the specific 20%–30% figure would be removed and the wording revised to refer to consideration of the consolidated dividend payout ratio.