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Returns to Shareholders and Dividend

Dividend Policy

We consider shareholder return as one of our priority management issues and have made it a policy to maintain stable dividend payment, giving due consideration to our business performance and a dividend payout ratio for each fiscal period, the level of retained earnings necessary for future growth, and other relevant factors. We aim to maintain a dividend payout ratio of around 30% over the medium to long term.

We will use our retained earnings for investment to increase the competitiveness of our core businesses and expand our overseas businesses, and thereby seek to enhance our profitability.

Dividends are paid twice a year in principle, after closing the first half of each fiscal year and each full fiscal year. Under our Articles of Incorporation, in order to implement the distribution of profits and retained earnings to shareholders in a timely manner, the Board of Directors is authorized to decide the level of dividends paid.

Trends in per-share dividend

As of May 16, 2017

Period Type of dividend Dividend per share (¥)
FY2008 ended March 31, 2009 (For 128th Fiscal Period) Interim dividend 6
Year-end dividend 3
FY2009 ended March 31, 2010 (For 129th Fiscal Period) Interim dividend
Year-end dividend 6
FY2010 ended March 31, 2011 (For 130th Fiscal Period) Interim dividend 3
Year-end dividend 6
FY2011 ended March 31, 2012 (For 131st Fiscal Period) Interim dividend 6
Year-end dividend 3
FY2012 ended March 31, 2013 (For 132nd Fiscal Period) Interim dividend 6
Year-end dividend
FY2013 ended March 31, 2014 (For 133rd Fiscal Period) Interim dividend 6
Year-end dividend 3
FY2014 ended March 31, 2015 (For 134th Fiscal Period) Interim dividend 6
Year-end dividend 3
FY2015 ended March 31, 2016 (For 135th Fiscal Period) Interim dividend 8 (ordinary dividend of 6, commemorative dividend of 2)
Year-end dividend 6
FY2016 ended March 31, 2017 (For 136th Fiscal Period) Interim dividend 7
Year-end dividend 7
FY2017 ended March 31, 2018 (For 137th Fiscal Period) Interim dividend 7 (Forecast)
Year-end dividend 7 (Forecast)