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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 to “maintain stable dividends, with a dividend payout ratio of at least 30% on a consolidated basis excluding the effects of extraordinary income/losses arising from business combination and the amortization of goodwill as a standard,” comprehensively considering the consolidated business results and the business plans, among other aspects.
In terms of internal reserves, the Group seeks to use such reserves to fund investment in manufacturing equipment, research and development, and new businesses development, to prepare for future business.
For This fiscal year, the Group expects to pay an annual dividend of 46 yen (an interim dividend of 23 yen).
(Unit: Yen/%)
| Fiscal year ended March 31, 2015 |
Fiscal year ended March 31, 2016 |
Fiscal year ended March 31, 2017 |
Fiscal year ended March 31, 2018 |
Fiscal year ended March 31, 2019 |
|
|---|---|---|---|---|---|
| Interim | 15 | 15 | 15 | 18 | 22 |
| Year-end | 15 | 15 | 17 | 20 | 22 |
| Annual Total | 30 | 30 | 32 | 38 | 44 |
| Consolidated Dividend Payout Ratio |
44.4 | 13.6 | 37.9 | 41.7 | 32.8 |
| Payout ratio based on profit distribution policy |
- | 32.0 | 30.4 | 30.4 | 26.2 |
| Fiscal year ended March 31, 2020 |
Fiscal year ended March 31, 2021 |
Fiscal year ended March 31, 2022 |
Fiscal year ending March 31, 2023 |
Fiscal year ending March 31, 2024 |
|
|---|---|---|---|---|---|
| Interim | 23 | 23 | 23 | 23 | 23(forecast) |
| Year-end | 23 | 23 | 23 | 23 | 23(forecast) |
| Annual Total | 46 | 46 | 46 | 46 | 46(forecast) |
| Consolidated Dividend Payout Ratio |
40.4 | 53.1 | 32.9 | 32.9 | 25.5(forecast) |
| Payout ratio based on profit distribution policy |
31.6 | 29.7 | 32.9 | 31.9 | 23.6(forecast) |