Shareholder Returns
Shareholder return policy
Shareholder returns aimed at improving corporate value and capital efficiency
FY2025 & FY2026
To maintain an optimal capital structure (equity ratio of 60%), we have adopted a policy of a 100% total return ratio (over a two-year period).
After the end of the medium-term plan period
Similar to the current medium-term plan, capital in excess of the appropriate equity level will be returned to shareholders primarily through dividends.
We will continue to maintain a stable dividend (at least 5% of DOE) while also flexibly implementing share buybacks.
* DOE is calculated as DPS ÷ Average BPS at the beginning and end of the period × 100
FY2026 forecast
Fiscal Year 2026: In order to improve capital efficiency, we have decided to increase dividends (from 300 yen to 350 yen) and repurchase our own shares (on the exchange market, 8 billion yen).
* DOE is calculated as DPS ÷ Average BPS at the beginning and end of the period × 100
Dividend (per share)
Our dividend forecast for fiscal year 2026 is 350 yen per share.
| FY | FY2018 | FY2019 | FY2020 | 2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 (prediction) |
|---|---|---|---|---|---|---|---|---|---|
| Interim dividend (yen) | 45.0 | 45.0 | 30.0 | 40.0 | 45.0 | 60.0 | 100.0 | 150.0 | 175.0 |
| Final dividend (yen) | 45.0 | 45.0 | 30.0 | 50.0 | 45.0 | 60.0 | 150.0 | 150.0 | 175.0 |
| Total (yen) | 90.0 | 90.0 | 60.0 | 90.0 | 90.0 | 120.0 | 250.0 | 300.0 | 350.0 |