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Shareholder Returns

Profit distribution policy (dividend principle)

Recognizing that one of the key management issues is the return of profits to shareholders, the Group endeavors to increase its earnings power and improve its financial position. In addition, our basic policy on the payment of dividends is “Total return ratio of 40% or higher” and ”Ongoing payment of annual dividends of at least 46 yen as stable dividends,“ while comprehensively considering the consolidated business results and the business plans, among other aspects.
(During the period of the Eighth Medium-term Business Plan, since we will pursue treasury share acquisitions funded by reductions in cross-shareholdings, we will aim to improve the total return ratio to at least 50%.)

Basic policy on the payment of dividends until the fiscal year ended March 2024:
Continued to pay stable dividends with a consolidated payout ratio of 30% as the basis
(Excluding the effects of extraordinary income/losses arising from business combination and the amortization of goodwill)

Trend of Dividends and Payout Ratio

Shareholder Returns
Interim (yen) Year-end (yen) Annual Total (yen) Consolidated Dividend
Payout Ratio (%)
※Payout ratio based on profit
distribution policy (%)
FY2015 15 15 30 13.6 32.0
FY2016 15 17 32 37.9 30.4
FY2017 18 20 38 41.7 30.4
FY2018 22 22 44 32.8 26.2
FY2019 23 23 46 40.4 31.6
FY2020 23 23 46 53.1 29.7
FY2021 23 23
46
32.9
31.8
FY2022 23 23 46 32.9 32.4
FY2023 23 24 47 26.0 24.8
FY2024 24 24
(forecast)
48
(forecast)
34.2
(forecast)
-

Shareholder Benefit Program (only in Japan).

The shareholder benefit program has been changed to a selective system.
Please find more details from the following page.

Number of Shares Held Description
100 to less than 200 shares Selected from a group product assortment,donation,etc. Equivalent to 1,000 yen
200 to less than 1,000 shares Selected from a group product assortment,donation,etc. Equivalent to 2,000 yen
1,000 shares or more Selected from a group product assortment,donation,etc. Equivalent to 3,000 yen
Number of Shares Held / Description 100 to less than 200 shares /
Selected from a group product assortment,donation,etc. Equivalent to 1,000 yen
200 to less than 1,000 shares /
Selected from a group product assortment,donation,etc. Equivalent to 2,000 yen
1,000 shares or more /
Selected from a group product assortment,donation,etc. Equivalent to 3,000 yen

Report on Donation through Shareholder Benefit Program

We donated funds equivalent to the shareholder benefit program of the shareholders who had selected a donation in the returns to the shareholders listed in the shareholder list as of March 31, 2023 and September 30, 2023 to Japan Kodomo Shokudo Support Center Musubie.

No. of shareholders who selected donation 1,864
Total donation money 2,660,000 yen
Donated on February 29, 2024

Japan Kodomo Shokudo Support Center Musubie has set up a vision of "Creating a society that does not ignore anybody through support for children cafeterias (kodomo shokudo)" and is undertaking activities based on the following three pillars: Supporting the children cafeteria network in each region, connecting with companies and organizations that wish to contribute to society to deliver their support to children cafeterias, and continuing awareness building through surveys and studies.