Shareholder Returns

Basic Policy on Profit Distribution

We regard the return of profits to shareholders as an important management issue.

Therefore, based on the following capital allocation policy, we will prioritize growth investment and pay stable and increased dividends twice a year as interim and FY-end dividends. In addition, we aim to achieve 40% of the total shareholder return by flexible conducting share buyback when we consider that our stock is undervalued especially when PBR falls below 1.0x.

(Capital Allocation Policy)
To maximize corporate value over the long term, we aim to achieve disciplined growth investment and shareholder returns based on the following 5 basic policies.
1. Maximize corporate value by improving ROE & maintaining an appropriate level of WACC
2. Low-cost debt finance by keeping a close eye on adequate Equity Ratio
3. Prioritize growth investment to create new value
4. Continue to pay stable & increased dividends from surplus funds after growth investment
5. When our stock is undervalued (e.g. PBR < 1.0x), flexibly conduct Buyback to achieve Total Shareholder Return 40% / EPS growth 5%

Basic Dividend Information

Interim Dividend

Payable in August with a record date of May 31

FY-end Dividend

Payable in February of the following year with a record date of November 30

Dividend per Share (JPY)