Dividends and Dividend Policy

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Dividend Policy

We position the return of profits to shareholders as a key management priority.

Under the Medium-Term Management Plan (MTMP) 2025–2027, we aim to balance growth investments with shareholder returns by enhancing capital efficiency and strengthening our balance sheet.

Our dividend policy for the MTMP 2025–2027 is as follows:

  • For the fiscal year ending March 2026, we will maintain a dividend payout ratio of 100%.
  • From the fiscal year ending March 2027 onward, we will adopt a progressive dividend policy to ensure stable and sustainable dividends.

Total Dividends and Dividend Payout Ratio

graph

FY2019 FY2020 FY2021 FY2022 FY2023
Dividends per share (yen)
(of which interim dividend per share)		 24.00
（12.00）		 25.00
（12.00）		 55.00
（12.00）		 133.00
（24.00）		 158.00
（53.00）
Payout ratio (%) 112.1 40.6 55.8 98.7 99.7

* The year-end dividend for the fiscal year ended March 2022 consisted of a regular dividend of ¥28 and a 70th anniversary commemorative dividend of ¥15.