Stable Dividend Policy and Dividends Undecided During the Structural Reform Period
First written in FY2016. 12 of 27 entries say "Advanced", first in FY2023-Q2. Latest entry: 2026-10-02.
- FY2026RaisedAnnual report
「Based on this shareholder return policy, the Company plans to provide at least ¥880 billion in shareholder returns. ・Approximately ¥674 billion will be implemented by FY2025. During the remaining medium-term management plan period, an annual dividend of ¥120 per share, comprising a ¥40 base dividend and an ¥80 additional dividend, is planned for FY2026. ・In FY2026, the Company plans to acquire treasury shares for up to ¥130 billion in addition to paying dividends.」
The Company raised the cumulative shareholder return target for the current medium-term management plan period from at least ¥800 billion to at least ¥880 billion and indicated an annual dividend of ¥120 per share for FY2026 and share repurchases capped at ¥130 billion. - FY2026-H1AdvancedAnnual report
「At the Board of Directors meeting held on 5 November 2025, the following resolution was passed regarding the interim dividend for the current fiscal year. (1) Total interim dividend: ¥38,283 million (2) Dividend per share: ¥60」
The Company resolved to pay an interim dividend of ¥60 per share, totaling ¥38,283 million, for FY2025. The dividend increased from the previous year's interim dividend of ¥50 per share. - FY2025RaisedAnnual report
「Based on this shareholder return policy, the Company plans to provide at least ¥800 billion in shareholder returns, an increase of ¥100 billion from the amount announced in May 2024. Approximately ¥610 billion will be implemented by FY2024. During the remaining medium-term management plan period, annual dividends of ¥120 per share in FY2025, comprising a ¥40 base dividend and an ¥80 additional dividend, and ¥100 per share in FY2026, comprising a ¥40 base dividend and a ¥60 additional dividend, are planned. In addition, the Company plans to provide at least ¥50 billion in further flexible additional returns during the remaining plan period.」
The Company raised its cumulative shareholder return target for the medium-term management plan period from at least ¥700 billion to at least ¥800 billion. It also specified dividend levels for FY2025 and FY2026 and plans for at least ¥50 billion in additional returns. - FY2025-H1RaisedAnnual report
「Our basic policy is to enhance shareholder value over the medium to long term by pursuing shareholder returns, including share repurchases, while remaining mindful of the optimal capital structure and cash allocation, securing investments necessary to increase corporate value and financial soundness, and taking cash flow into account. The Company has raised the minimum cumulative shareholder returns during the 5-year medium-term management plan period from FY2022 through FY2026 from at least ¥700 billion to at least ¥730 billion. From FY2024 onward, in addition to base and additional dividends, the Company plans to provide approximately ¥180 billion in additional returns, of which ¥90.8 billion in share repurchases has already been implemented. In view of the scale of these additional returns, the Company determined that it would be preferable to conduct share repurchases capped at ¥90 billion, and these share repurchases will be conducted based on these policies.」
The Company raised the minimum cumulative shareholder returns during the medium-term management plan period from at least ¥700 billion to at least ¥730 billion and increased the planned additional returns from approximately ¥150 billion to approximately ¥180 billion from FY2024 onward. Following the acquisition of 39,556,000 treasury shares in May 2024 and their cancellation in August of the same year, the Company decided on additional acquisitions capped at ¥90 billion and, as of 7 November, had acquired 17,186,500 shares for ¥36,366,634,000. - FY2024RaisedAnnual report
「The Company has raised the minimum cumulative shareholder returns during the 5-year medium-term management plan period from FY2022 through FY2026 from at least ¥500 billion to at least ¥700 billion. From FY2024 onward, in addition to base and additional dividends, the Company plans to provide approximately ¥150 billion in additional returns. In view of the scale of these additional returns, the Company determined that it would be preferable to conduct them through share repurchases capped at ¥100 billion.」
The Group raised its cumulative shareholder return target for the medium-term management plan period to at least ¥700 billion and indicated plans for approximately ¥150 billion in additional returns from FY2024 onward, including share repurchases capped at ¥100 billion. - FY2024-Q3AdvancedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, based on a resolution at the Board of Directors meeting held on 24 November 2023, the Company cancelled 12,469,700 treasury shares effective 1 December 2023. Capital surplus decreased by ¥788 million, retained earnings by ¥54,954 million and treasury shares by ¥55,743 million.」
Following the share repurchases conducted under the shareholder return policy, the Company cancelled 12,469,700 treasury shares on 1 December 2023. Cumulative share repurchases totaled 11,676,000 shares, with an acquisition cost of ¥56,201 million. - FY2024-Q2AdvancedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the Company acquired 10,154,700 treasury shares based on a resolution at the Board of Directors meeting held on 2 August 2023, increasing treasury shares by ¥48,209 million. At the Board of Directors meeting held on 2 November 2023, the following resolution was passed regarding the interim dividend for the current fiscal year. (1) Total interim dividend: ¥23,848 million (2) Dividend per share: ¥100」
Share repurchases progressed to 10,154,700 shares, or ¥48,209 million, during the cumulative second quarter of the current fiscal year. In addition, following the ¥300-per-share dividend for the fiscal year ending March 2023, the Group resolved to pay an interim dividend of ¥100 per share. - FY2024-Q1AdvancedAnnual report
「In view of the scale of the additional returns planned for FY2023, the Group determined that it would be preferable to make all of them through share repurchases, and these share repurchases will be conducted based on these policies. (3) Total number of shares that may be acquired: 11,676,000 shares (maximum) (4) Total acquisition cost of shares: ¥60,000,000,000 (maximum) (5) Acquisition period: 3 August 2023 to 31 October 2023 (7) Other: In principle, the treasury shares acquired this time are scheduled to be cancelled. Total number of shares acquired: 6,212,100 shares Total acquisition cost: ¥28,227,782,400」
Based on the policy to raise the minimum cumulative shareholder returns during the medium-term management plan period to at least ¥500 billion, the Group decided on a specific measure to provide all of the additional FY2023 returns through share repurchases. Of the repurchases capped at ¥60 billion, 6,212,100 shares had been acquired for ¥28,227,782,400 as of 4 August 2023. - FY2023RaisedAnnual report
「The Group implemented ¥250 billion in shareholder returns through FY2022. For the remaining period of the medium-term management plan, from FY2023 through FY2026, the base dividend will be ¥120 per share, and an additional dividend of ¥80 per share is planned for FY2023, resulting in a planned dividend of ¥200 per share. In addition, the Group plans to provide approximately ¥110 billion in additional shareholder returns during the remaining plan period, of which at least ¥50 billion is scheduled to be implemented in FY2023.」
The Group set a policy of total shareholder returns of at least ¥500 billion during the medium-term management plan period and specified plans for base dividends, additional dividends and further returns. - FY2023-Q3AdvancedAnnual report
「Board of Directors meeting held on 4 November 2022 Common shares 28,388 300 30 September 2022 5 December 2022 Retained earnings In addition, based on a resolution at the Board of Directors meeting held on 4 November 2022, the Company acquired 28,954,700 treasury shares (after the stock split), increasing treasury shares by ¥70,721 million.」
Based on its stable dividend policy, the Group paid an interim dividend of ¥300 per share. It also acquired 28,954,700 treasury shares, making progress in implementing shareholder returns. - FY2023-Q2AdvancedAnnual report
「These share repurchases will be conducted based on these policies. (3) Total number of shares that may be acquired: 35,236,000 shares (maximum) (after the stock split) (4) Total acquisition cost of shares: ¥100,000,000,000 (maximum) (5) Acquisition period: 8 November 2022 to 31 March 2023 Total number of shares acquired: 16,391,900 shares Total acquisition cost: ¥38,225,910,800」
Based on the shareholder return policy for the medium-term management plan period, the Group resolved to repurchase shares for up to ¥100 billion and, as of 8 November 2022, had acquired 16,391,900 shares for ¥38,225,910,800. - FY2022RaisedAnnual report
「We regard maximizing returns to shareholders through stable dividends as an important management priority. Our basic policy is to enhance shareholder value over the medium to long term by comprehensively considering business performance, investments necessary to increase corporate value, strengthening our financial position and other factors. ... The year-end dividend for the current fiscal year will be ¥600 per share.」
The Group shifted from its previous policy of paying no dividend and leaving the dividend undecided while prioritizing structural reforms and improvements to its financial position to resuming stable dividends, paying a year-end dividend of ¥600 per share for the fiscal year ending March 2022. The medium-term plan also set out a shareholder return policy of ¥400-500 billion. - FY2020RestatedAnnual report
「However, amid concerns over a slowdown in the global economy and the risk of declining transportation demand due to the worldwide spread of COVID-19 and continuing concerns over US-China trade friction, we have identified improving our financial position and stabilizing our business base as the highest priorities. Accordingly, regrettably, no year-end dividend will be paid. The dividend for the following fiscal year will remain undecided for the time being under these circumstances, as improving our financial position and stabilizing our business base remain the highest priorities.」
While maintaining its basic stable dividend policy, the Group paid no dividend for the current fiscal year and left the following fiscal year’s dividend undecided amid COVID-19 and the risk of declining transportation demand, prioritizing improvements to its financial position and the stabilization of its business base. - FY2018RestatedAnnual report
「However, the medium-term management plan announced in April FY2017 identifies improving our financial position and stabilizing our business base as the highest priorities for the current fiscal year. Accordingly, regrettably, no year-end dividend will be paid. The dividend for the following fiscal year will remain undecided for the time being, as improving our financial position and stabilizing our business base remain the highest priorities.」
The Group paid no dividend for the current fiscal year and left the following fiscal year’s dividend undecided, while maintaining its stable dividend policy itself. - FY2017SoftenedAnnual report
「However, with regard to the FY2017 dividend, we will prioritize improving our financial position and stabilizing our business base for the time being, and the dividend has been left undecided at this point.」
While maintaining a stable dividend policy, the Group paid no dividend and left the following fiscal year’s dividend undecided, prioritizing improvements to its financial position and the stabilization of its business base. - FY2016First statedAnnual report
「Although we plan to continue our stable dividend policy, dividends for FY2016 have been left undecided because of the structural reforms implemented in FY2015 and FY2016, and we intend to prioritize securing the Group’s “stability.” Thereafter, we will assess structural changes in the business environment, restore the Group’s earnings power and seek to return profits to shareholders under the original stable dividend policy.」
While maintaining a stable dividend policy, the Group left the FY2016 dividend undecided, prioritizing structural reforms and the securing of stability.