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Shareholder Returns Policy and Dividends

Basic Policy for Shareholder Returns

Our total shareholder return policy emphasizes maximizing returns to shareholders through direct means in addition to generating medium- and long-term share price gains. Based on this approach, our fundamental policy is not only to give highest priority to strategic investments to realize sustainable growth for the purpose of maximizing corporate value but also enhance the efficiency of investment capital while focusing on capital cost, which will lead to medium- to long-term increases in dividends and higher share prices.
We focus on consolidated performance and free cash flow in determining dividends and have set a dividend on equity attributable to owners of the parent (DOE) of 2.5% or higher as one indicator that reflects our capital policy to ensure stable and consistent growth in shareholder returns over the long term. Our policy with respect to share buybacks is to remain flexible and make such decisions based on the market environment.

Dividend Record Dates and Payable Dates

Interim dividend Year-end dividend
Record date June 30th December 31st
Payable date Early September Following the ordinary general meeting of shareholders (late March)

Dividends per Share

Business Term Interim dividend
per share (Yen)
Year-end dividend
per share (Yen)
Annual dividends
per share (Yen)
FY2024 30(Forecast) 30(Forecast) 60(Forecast)
FY2023 30 30 60
FY2022 25 75
(Ordinary dividend 25)
(Commemorative dividend 50)
FY2021 20 30 50
FY2020 20 20 40
FY2019 30 30 60
FY2018 20 25 45
FY2017 12.50 15 27.50
FY2016 10 10 20
FY2015 10 10 20