Stable dividends guided by a 25% payout ratio, with retained earnings allocated to store-opening investments
First written in FY2017. 6 of 10 entries say "Restated". Latest entry: FY2026.
- FY2026RestatedAnnual report
「We intend to pay dividends based on a target payout ratio of approximately 35% and DOE of approximately 3.0%.」
The policy, raised in fiscal 2025, of targeting a dividend payout ratio of approximately 35% and DOE of approximately 3.0% remains in place. - FY2025RaisedAnnual report
「Based on the medium-term management plan ending in the fiscal year ending February 2027, we intend to pay dividends based on a target payout ratio of approximately 35% and DOE of approximately 3.0%, in order to secure sufficient retained earnings amid difficult economic conditions over the medium term and pursue growth investment aimed at expanding our scale.」
Under the plan ending in the fiscal year ending February 2027, the targets were raised from a dividend payout ratio of 25% and DOE of approximately 2.0% to a payout ratio of approximately 35% and DOE of approximately 3.0%. - FY2021SoftenedAnnual report
「Amid difficult economic conditions over the medium term, we intend for the time being to pay dividends based on a target dividend payout ratio of 25% and DOE of approximately 2.0%, in order to secure sufficient retained earnings, strengthen our management foundation, accelerate new store openings and continue research and development of new businesses.」
The wording was changed from “dividend payout ratio of 25% or more” to “dividend payout ratio of 25% and DOE of approximately 2.0%,” eliminating the lower-bound wording and adding DOE. - FY2020RestatedAnnual report
「Amid difficult economic conditions over the medium term, we intend for the time being to pay dividends based on a target payout ratio of 25% or more, in order to secure sufficient retained earnings, strengthen our management foundation, accelerate new store openings and continue research and development of new businesses.」
The policy of targeting a dividend payout ratio of 25% or more and using retained earnings to strengthen the financial position, open new stores and conduct research on new businesses remains in place. - FY2019RaisedAnnual report
「Amid difficult economic conditions over the medium term, we intend for the time being to pay dividends based on a target payout ratio of 25% or more, in order to secure sufficient retained earnings, strengthen our management foundation, accelerate new store openings and continue research and development of new businesses.」
The wording was changed from “targeting a dividend payout ratio of 25%” to “targeting a dividend payout ratio of 25% or more,” making the lower bound of the dividend policy explicit. - FY2018RestatedAnnual report
「Amid difficult economic conditions over the medium term, we intend for the time being to pay dividends based on a target payout ratio of 25%, in order to secure sufficient retained earnings, strengthen our management foundation, accelerate new store openings and continue research and development of new businesses.」
The policy of targeting a dividend payout ratio of 25% and using retained earnings to strengthen the financial position and management foundation, open new stores and conduct research on new businesses continued to be disclosed. - FY2017First statedAnnual report
「Amid difficult economic conditions over the medium term, we intend for the time being to pay dividends based on a target payout ratio of 25%, in order to secure sufficient retained earnings, strengthen our management foundation, accelerate new store openings and continue research and development of new businesses.」
A policy was presented of using retained earnings to strengthen the management foundation, open new stores and conduct research and development of new businesses, while targeting a dividend payout ratio of 25%.