Using retained earnings for growth investment while maintaining stable dividends
First written in FY2017. 4 of 11 entries say "Restated". Latest entry: FY2026.
- FY2026RaisedAnnual report
「With respect to capital allocation, the Company will prioritize investment in growth opportunities and productivity improvements, including its store network, DX, supply chain, human capital, and M&A, and pursue higher ROE. With respect to shareholder returns, it will seek to enhance shareholder value by combining stable dividends with treasury share acquisitions and other measures.」
The Company has defined its policy for using retained earnings as capital allocation combining investment in its store network, DX, supply chain, human capital, and M&A with stable dividends and treasury share acquisitions. - FY2023ReframedAnnual report
「The Company will effectively use retained earnings for business investment, including new store openings, renovations of existing stores, DX, human capital, and new businesses. It will also seek to further enhance corporate value by considering comprehensive returns to shareholders, including treasury share acquisitions.」
The Company has organized its policy for using retained earnings around business investment in new store openings, renovations, DX, human capital, and new businesses, together with comprehensive shareholder returns including treasury share acquisitions. - FY2023-Q1RestatedAnnual report
「The Company is acquiring treasury shares to enhance shareholder returns and improve capital efficiency.」
The Company reaffirms its capital allocation direction of emphasizing shareholder returns and improved capital efficiency as the reasons for acquiring treasury shares. - FY2021ReframedAnnual report
「Under a sound balance sheet, the Company's basic policy is to provide shareholders with stable and continuous dividends after comprehensively considering consolidated performance, the total payout ratio, free cash flow, and other factors.」
The wording has been revised from the previous policy of targeting a 30% consolidated payout ratio to a policy of comprehensively considering consolidated performance, the total payout ratio, and free cash flow. - FY2020RestatedAnnual report
「The Company's basic policy is to enhance returns to shareholders and maintain stable dividends. In addition, it determines the allocation of profits after comprehensively considering measures to strengthen its financial position through retained earnings in preparation for future business development. As an indicator for allocating profits in line with consolidated performance, the Company aims to gradually achieve a consolidated payout ratio of 30%.」
The Company continues its policy of providing shareholder returns, maintaining stable dividends, securing retained earnings, and gradually targeting a 30% consolidated payout ratio. - FY2019RaisedAnnual report
「As an indicator for allocating profits in line with consolidated performance, the Company aims to gradually achieve a consolidated payout ratio of 30%.」
The Company has added a phased target of a 30% consolidated payout ratio to its existing policy of emphasizing stable dividends and retained earnings. - FY2018RestatedAnnual report
「The Company's basic policy is to enhance returns to shareholders and maintain stable dividends. In addition, it determines the allocation of profits after comprehensively considering measures to strengthen its financial position through retained earnings in preparation for future business development.」
The Company reiterates its policy of prioritizing shareholder returns and stable dividends while retaining earnings to support business development and strengthen its financial position. - FY2017First statedAnnual report
「Based on its policy of maintaining stable dividends, the Company determines dividends and other distributions of surplus after comprehensively considering business performance, the payout ratio, and retained earnings to prepare for future business development.」
The Company states a policy of determining dividends and retained earnings based on stable dividends while taking business performance, the payout ratio, and future business development into account.