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%

Dividend

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)

(Unit:JPY)

  Interim FY-end Total
Nov.202310.0010.0020.00
Nov.20229.5010.0019.50
Nov.20216.5010.0016.50
Nov.20208.008.0016.00
Nov.20198.008.0016.00
Nov.20187.758.2516.00

(The Date as of Jan 12, 2024)

Share Buyback

    Resolution Details Transaction Details
Resolution Date Period # of shares Amount(JPY) # of shares Amount(JPY)
10/17/202410/18/2024~11/30/2024360,000200,000,000306,300199,948,200
08/06/202408/06/2024~11/30/2024220,000100,000,000166,80099,946,900
01/19/202401/19/2024~02/15/2024180,000100,000,000167,10099,952,400
08/17/202308/17/2023~01/19/2024180,000100,000,000168,20099,957,100
01/19/202301/19/2023~06/30/2023320,000200,000,000312,900199,942,900
04/04/202204/04/2022~04/21/20221,800,0003,100,000,0001,800,0003,078,000,000
08/26/202108/26/2021~01/20/2022250,000300,000,000223,200299,905,300
07/21/202107/21/2021~08/26/2021250,000300,000,000237,500299,917,700
03/31/202104/01/2021~07/21/2021250,000300,000,000250,000299,885,700
01/11/201301/15/2013~2/28/201370,00050,000,0005,8004,715,800
09/28/201210/01/2012~11/30/2012100,00050,000,00071,00037,761,200
07/19/201207/20/2012~08/31/2012100,00050,000,00064,80033,860,600
02/09/201202/10/2012~02/10/20121,260,000738,360,0001,260,000738,360,000
01/16/201201/17/2012~02/09/201250,00035,000,00017,90012,062,100