Shareholder Return and Dividend


Basic policy concerning the distribution of profits

Our company works to strengthen its management base to achieve continued increase in corporate value, and at the same time we consider return of profits to its shareholders to be one of our most important management tasks.
For this reason, with respect to paying dividends with surplus funds, we have the basic policy of paying stable dividends appropriate to business results long into the future, aiming to set aside 30% of consolidated net income of a reporting period for dividends, while taking care that there are adequate retained earnings for the strategic investment etc. necessary for medium- to long-term growth.

Changes in dividends and dividend payout ratio

  FY2014 FY2015 FY2016 FY2017 FY2018
Interim dividends ¥13 ¥14 ¥14 ¥17 ¥19
Year-end dividends ¥15 ¥14 ¥20 ¥21 ¥21
Annual dividends ¥28 ¥28 ¥34 ¥38 ¥40
Total amount of dividends ¥5,294 million ¥5,491 million ¥6,670 million ¥7,458 million ¥7,852 million
Net income for this reporting period ¥20,702 million ¥20,139 million ¥22,337 million ¥25,173 million ¥26,468 million
Dividend payout ratio 25.6% 26.5% 29.7% 29.5% 29.6%
ROE (Return on Equity) 9.6% 8.7% 9.1% 9.4% 9.3%