Transition to a consolidated dividend payout ratio of at least 25%
First written in FY2016. 15 of 37 entries say "Raised", first in FY2019. Latest entry: 2026-08-05.
- FY2026RaisedAnnual report
「During the Medium-Term Management Strategy “GC2027” period (fiscal 2025 to fiscal 2027), progressive dividends will continue, with increases in line with medium- to long-term earnings growth. Based on the above policy, the annual dividend for fiscal 2025 will be ¥107.50 per share (¥50.00 interim dividend and ¥57.50 year-end dividend), while the annual dividend forecast for fiscal 2026 will be ¥115.00 per share (¥57.50 interim dividend and ¥57.50 year-end dividend).」
Under the GC2027 policy of progressive dividends and a total payout ratio of approximately 40%, the fiscal 2025 annual dividend result was updated to ¥107.5 and the fiscal 2026 forecast to ¥115. - FY2026-H1Update to dividend amounts and treasury share acquisition resultsAnnual report
「During the current interim consolidated accounting period, a year-end dividend of ¥50.00 per share of common stock was paid, for a total of ¥82,939 million. The Board of Directors resolution date for the interim dividend for the current consolidated fiscal year (¥50.00 per share of common stock, for a total of ¥82,326 million) was 4 November 2025, the record date was 30 September 2025, and the effective date was 1 December 2025.」
A year-end dividend of ¥50 per share was paid, and an interim dividend of ¥50 per share was approved. In addition, cumulative treasury share acquisitions through 30 September 2025 totaled ¥32.7 billion. - FY2025RaisedAnnual report
「Raised the total payout ratio to approximately 40%」
The policy was changed from the GC2024 guideline of a total payout ratio of approximately 30% to 35% to a guideline of approximately 40% under GC2027, while continuing progressive dividends starting from an annual dividend of ¥100 per share. The fiscal 2024 dividend was ¥95. - FY2025-H1Update to Interim DividendAnnual report
「The Board of Directors resolution date for the interim dividend for the current consolidated fiscal year (¥45.00 per share of common stock, for a total of ¥74,636 million) was 1 November 2024, the record date was 30 September 2024, and the effective date was 2 December 2024.」
Under the progressive dividend policy during the GC2024 period, an interim dividend of ¥45 per share was approved for the current consolidated fiscal year. - FY2024RaisedAnnual report
「The annual dividend for fiscal 2023 will be ¥85.00 per share (¥41.50 interim dividend and ¥43.50 year-end dividend). In addition, based on the above policy, the annual dividend for fiscal 2024 will be ¥90.00 per share (¥45.00 interim dividend and ¥45.00 year-end dividend).」
Under the progressive dividend policy, the annual dividend for fiscal 2023 was raised to ¥85, and the fiscal 2024 forecast was raised to ¥90. In addition, the company began acquiring treasury shares, subject to a maximum of ¥50 billion or 38 million shares, pursuant to the resolution of 2 May 2024. - FY2024-Q3AdvancedAnnual report
「To pursue a flexible capital policy and enhance shareholder returns, the company decided to acquire treasury shares through market purchases during the period from 6 November 2023 to 9 February 2024, subject to a maximum of ¥20 billion or 20 million shares. Based on the resolution adopted at the Board of Directors meeting held on 2 November 2023, the cumulative value of treasury shares acquired by 31 December 2023 was ¥15.8 billion.」
Under the policy of progressive dividends during the GC2024 period and a total payout ratio guided by approximately 30% to 35%, the company reported treasury share acquisitions of ¥15.8 billion by 31 December 2023, against a maximum of ¥20 billion or 20 million shares. - FY2024-Q2RaisedAnnual report
「In the full-year consolidated earnings forecast announced on 2 November 2023, net income attributable to owners of the parent was revised from ¥420 billion to ¥450 billion. As a result, based on the above basic policy, the annual dividend forecast per share for fiscal 2023 was revised from the previous forecast of ¥78.00 announced on 8 May 2023 to ¥83.00. Accordingly, the interim dividend and year-end dividend forecast per share were each revised from the previous forecast of ¥39.00 announced on 8 May 2023 to ¥41.50. To pursue a flexible capital policy and enhance shareholder returns, the company decided to acquire treasury shares through market purchases during the period from 6 November 2023 to 9 February 2024, subject to a maximum of ¥20 billion or 20 million shares.」
The fiscal 2023 net income forecast was raised from ¥420 billion to ¥450 billion, and the annual dividend forecast was raised from ¥78 to ¥83. In addition, the company decided to acquire treasury shares, subject to a maximum of ¥20 billion or 20 million shares. - FY2024-Q1Update to year-end dividend paidAnnual report
「During the first quarter of the current consolidated cumulative period, a year-end dividend of ¥40.50 per share of common stock was paid, for a total of ¥68,694 million.」
Under the policy of maintaining a consolidated dividend payout ratio of at least 25% and progressive dividends during the GC2024 period, a year-end dividend of ¥40.50 per share was paid for fiscal 2022. - FY2023RestatedAnnual report
「During the Medium-Term Management Strategy “GC2024” period (fiscal 2022 to fiscal 2024), dividends will be progressive, starting from an annual dividend of ¥78 per share and increasing in line with medium- to long-term earnings growth.」
The annual report reaffirmed the policy of progressive dividends starting from ¥78 and flexible treasury share acquisitions guided by a total payout ratio of approximately 30% to 35%. The annual dividend for fiscal 2022 was ¥78, and the fiscal 2023 forecast was also set at ¥78. - FY2023-Q3ReframedAnnual report
「<Shareholder returns during the Medium-Term Management Strategy “GC2024” period> “Dividends” ・Implement progressive dividends (※), starting from an annual dividend of ¥78 per share and increasing dividends in line with medium- to long-term earnings growth (※) Progressive dividends: maintaining or increasing dividends without reducing them. “Acquisition of treasury shares” ・Implement acquisitions flexibly to improve capital efficiency and per-share metrics, among other objectives ・Determine the amount and timing based on the operating environment, using a total payout ratio of approximately 30% to 35% as a guide」
The policy was reorganized from the previous policy centered on a consolidated dividend payout ratio of at least 25% and a forecast dividend floor to a combination of progressive dividends starting from an annual dividend of ¥78 and flexible treasury share acquisitions guided by a total payout ratio of approximately 30% to 35%. The fiscal 2022 dividend forecast was revised to ¥78, and treasury share acquisitions were completed at approximately ¥30 billion. - FY2023-Q2RaisedAnnual report
「The annual dividend forecast per share for fiscal 2022 was set at ¥60.00 (¥30.00 interim dividend and ¥30.00 year-end dividend), with this amount as the floor, based on the above basic policy, as net income attributable to owners of the parent in the consolidated results was expected to be ¥400 billion. However, as net income attributable to owners of the parent was revised to ¥510 billion in the full-year consolidated earnings forecast announced on 4 November 2022, the annual dividend forecast per share was set at ¥75.00 (¥37.50 interim dividend and ¥37.50 year-end dividend), which will be the floor (the interim dividend of ¥37.50 per share has already been approved). <Regarding the acquisition of treasury shares> To pursue a flexible capital policy and enhance shareholder returns, the company decided to acquire treasury shares through market purchases during the period from 7 November 2022 to 31 January 2023, subject to a maximum of ¥30 billion or 35 million shares.」
Based on the annual dividend floor of ¥60 during the GC2024 period, the annual dividend forecast for fiscal 2022 was raised to ¥75. In addition, the company decided to acquire treasury shares, subject to a maximum of ¥30 billion or 35 million shares, and scheduled the cancellation of the acquired shares for 20 February 2023. - FY2023-Q1Update to the year-end dividendAnnual report
「During the first quarter of the current consolidated cumulative period, a year-end dividend of ¥36.50 per share of common stock was paid, for a total of ¥62,864 million.」
Under the policy of maintaining a consolidated dividend payout ratio of at least 25% and an annual dividend floor of ¥60 during the GC2024 period, the year-end dividend paid was updated. ¥10.9 billion was also spent on treasury share acquisitions. - FY2022RaisedAnnual report
「Maintain the current consolidated dividend payout ratio of at least 25% and seek to increase dividends through earnings growth ・Set the annual dividend announced at the beginning of fiscal 2022 (¥60 per share) as the floor for annual dividends during the GC2024 period “Acquisition of treasury shares” ・Implement acquisitions flexibly to improve capital efficiency and per-share metrics, among other objectives」
While maintaining a dividend payout ratio of at least 25%, the annual dividend floor during the GC2024 period was set at ¥60 per share. The policy was changed to include treasury share acquisitions, and acquisitions totaling approximately ¥30 billion were completed by 28 April 2022. - FY2022-Q3RaisedAnnual report
「The annual dividend forecast per share was changed from ¥51.00 to ¥58.00 (¥25.50 interim dividend and ¥32.50 year-end dividend), which will be the floor. In addition, the company decided to acquire treasury shares through market purchases during the period from 4 February 2022 to 28 April 2022, subject to a maximum of ¥30 billion or 35 million shares.」
The annual dividend forecast for the fiscal year ending March 2022 was raised from ¥51 to ¥58, and specific measures for the acquisition of treasury shares were decided, with a maximum of ¥30 billion or 35 million shares. - FY2022-Q2RaisedAnnual report
「The annual dividend forecast per share for the fiscal year ending March 2022 was set at ¥34.00 (¥17.00 interim dividend and ¥17.00 year-end dividend), with this amount as the floor, based on the above basic policy, as net income attributable to owners of the parent in the consolidated results was expected to be ¥230 billion. However, as net income attributable to owners of the parent was revised to ¥350 billion in the full-year consolidated earnings forecast announced on 2 November 2021, the annual dividend forecast per share was set at ¥51.00 (¥25.50 interim dividend and ¥25.50 year-end dividend), which will be the floor. In light of the improvement in our financial position, we will consider acquiring treasury shares (changing our previous policy of not acquiring treasury shares in order to pursue a flexible capital policy).」
While retaining the basic policy of maintaining a consolidated dividend payout ratio of at least 25% and setting the forecast dividend as the floor, the annual dividend forecast was raised from ¥34 to ¥51. In addition, the previous policy of not acquiring treasury shares was changed, and the company stated that it would consider such acquisitions. - FY2022-Q1Update to the year-end dividendAnnual report
「During the first quarter of the current consolidated cumulative period, a year-end dividend of ¥22.00 per share of common stock was paid, for a total of ¥38,206 million.」
Under the policy of maintaining a consolidated dividend payout ratio of at least 25% and setting the forecast dividend as the floor, the year-end dividend paid was ¥22 per share. - FY2021RaisedAnnual report
「For the annual dividend for fiscal 2021, we expect net income attributable to owners of the parent in the consolidated results to be ¥230 billion. Accordingly, we plan to pay ¥34.00 per share (¥17.00 interim dividend and ¥17.00 year-end dividend), which will be the floor.」
The policy of maintaining a consolidated dividend payout ratio of at least 25% and setting the initial forecast dividend as the floor was retained, and the floor for the fiscal 2021 dividend forecast was raised from the fiscal 2020 actual dividend of ¥33 to ¥34. - FY2021-Q3RaisedAnnual report
「As net income attributable to owners of the parent was revised again, from ¥150 billion to ¥190 billion, the annual dividend forecast per share was changed from ¥22.00 to ¥28.00 (¥11.00 interim dividend and ¥17.00 year-end dividend), which will be the floor.」
The policy of maintaining a consolidated dividend payout ratio of at least 25% and setting the forecast dividend as the floor was retained, while the annual dividend forecast was raised from ¥22 to ¥28. - FY2021-Q2RaisedAnnual report
「The forecast annual dividend for the fiscal year ending March 2021 had been set at ¥15.00 per share (¥7.50 interim and ¥7.50 year-end), as the forecast profit attributable to owners of the parent in the consolidated results was ¥100.0 billion, with this amount serving as the minimum under the basic policy above. However, following the revision of forecast profit attributable to owners of the parent to ¥150.0 billion in the full-year consolidated earnings forecast announced on 4 November 2020, the forecast annual dividend per share has been revised to ¥22.00 (¥11.00 interim and ¥11.00 year-end), with this amount serving as the minimum.」
While maintaining the policy of a consolidated dividend payout ratio of 25% or higher and setting the forecast dividend as the minimum, the forecast annual dividend was raised from ¥15 to ¥22. - FY2020SoftenedAnnual report
「Continue the current dividend policy of maintaining a consolidated dividend payout ratio of 25% or higher and setting the forecast dividend announced at the beginning of each fiscal year as the minimum ・The dividend for FY2020 will be ¥15 per share (¥7.5 per share interim, ¥7.5 per share year-end), which will be the minimum ・No share repurchases will be conducted during the GC2021 period, with priority given to restoring and strengthening the financial base」
While maintaining the policy of a dividend payout ratio of 25% or higher and setting the forecast dividend as the minimum, the minimum dividend for FY2020 was set at ¥15, and a policy of no share repurchases during the GC2021 period was stated. - FY2020-Q2Update to Interim DividendAnnual report
「The date of the Board of Directors' resolution concerning the interim dividend for the current consolidated fiscal year, ¥17.50 per common share for a total of ¥30,374 million, was 5 November 2019; the record date was 30 September 2019; and the effective date was 2 December 2019.」
While maintaining a consolidated dividend payout ratio of 25% or higher as the basic policy, an interim dividend of ¥17.50 per share was approved for FY2019. - FY2019RaisedAnnual report
「As for dividends during the medium-term management strategy period (FY2019–FY2021), our basic policy is to link dividends to performance in each fiscal year, maintain a consolidated dividend payout ratio of 25% or higher, and set the forecast dividend announced at the beginning of each fiscal year as the minimum.」
While maintaining a consolidated dividend payout ratio of 25% or higher, a policy of setting each fiscal year's forecast dividend as the minimum was stated for FY2019–FY2021. Flexible share repurchases after achieving a net debt-to-equity ratio of approximately 0.8x were also added. - FY2019-Q2Update to Interim DividendAnnual report
「The date of the Board of Directors' resolution concerning the interim dividend for the current consolidated fiscal year, ¥17 per common share for a total of ¥29,504 million, was 2 November 2018; the record date was 30 September 2018; and the effective date was 3 December 2018.」
While maintaining the basic policy of a consolidated dividend payout ratio of 25% or higher, an interim dividend of ¥17 per share was approved. - FY2018RestatedAnnual report
「As a basic policy, specific dividend amounts are determined based on a consolidated dividend payout ratio of 25% or higher. The annual dividend for the fiscal year was set at ¥31 per share, comprising an interim dividend of ¥12.50 and a year-end dividend of ¥18.50.」
The basic policy of a consolidated dividend payout ratio of 25% or higher was maintained, and the annual dividend for the fiscal year was ¥31 per share. - FY2018-Q3RestatedAnnual report
「Consolidated dividend payout ratio 25% or higher of profit attributable to owners of the parent 25% or higher of profit attributable to owners of the parent 25% or higher of profit attributable to owners of the parent 25% or higher of profit attributable to owners of the parent」
The basic policy of a consolidated dividend payout ratio of 25% or higher was reiterated. - FY2018-Q2RestatedAnnual report
「Consolidated dividend payout ratio 25% or higher of profit attributable to owners of the parent 25% or higher of profit attributable to owners of the parent 25% or higher of profit attributable to owners of the parent 25% or higher of profit attributable to owners of the parent」
The basic policy of a consolidated dividend payout ratio of 25% or higher was reiterated. An interim dividend of ¥12.50 per share was approved. - FY2018-Q1RestatedAnnual report
「Consolidated dividend payout ratio 25% or higher of profit attributable to owners of the parent 25% or higher of profit attributable to owners of the parent 25% or higher of profit attributable to owners of the parent 25% or higher of profit attributable to owners of the parent」
The basic policy of a consolidated dividend payout ratio of 25% or higher was reiterated. A year-end dividend of ¥13.50 per share was paid during the cumulative first-quarter period. - FY2017RestatedAnnual report
「25% or higher of profit attributable to owners of the parent」
The basic policy of a consolidated dividend payout ratio of 25% or higher was maintained. The annual dividend for the fiscal year was ¥23 per share. - FY2017-Q3RestatedAnnual report
「Consolidated dividend payout ratio 25% or higher of profit attributable to owners of the parent —」
The policy of a consolidated dividend payout ratio of 25% or higher was reiterated. An interim dividend of ¥9.50 per share was paid during the cumulative third-quarter period. - FY2017-Q1RestatedAnnual report
「Consolidated dividend payout ratio 25% or higher of profit attributable to owners of the parent」
The policy of a consolidated dividend payout ratio of 25% or higher was reiterated. It was stated that a year-end dividend of ¥10.50 per share had been paid during the current quarter. - FY2016First statedAnnual report
「As a basic policy, specific dividend amounts will be determined based on a consolidated dividend payout ratio of 25% or higher from the fiscal year ending March 2017.」
A performance-linked dividend policy was explicitly stated from the fiscal year ending March 2017.