Shareholder Return

Return Policy

The policy of the Company is to continuously and stably distribute dividends, while working to strengthen financial position and the management base through growth investment, R&D investment and capital investment in order to enhance the long-term shareholder's value.

The Company has decided to revise its shareholder return policy as follows, effective from dividends for fiscal 2026.
This revision maintains the Company’s fundamental approach while further clarifying and specifying its policy in light of dialogue with shareholders and investors.
Going forward, the Company will continue to strive to enhance shareholder value and achieve progressive dividend increases in line with growth, as well as stable dividends with a high degree of predictability.

Shareholder Return Policy (Effective from dividends for fiscal 2026)
The policy of the Company is to continuously and stably distribute dividends while strengthening its financial position and management base through growth investment, R&D investment, and capital investment in order to enhance long-term shareholder value, while also striving to achieve dividend increases in line with growth and stable, predictable dividend payments.
Under this policy, the Company targets a dividend payout ratio of approximately 30% and aims to implement a progressive dividend policy, taking into account business performance trends and the balance with growth investments.

Fluctuations in Dividends

(JPY)
Dividend Dividend per share (annual) Interim dividend
(paid in December of relevant year)
Year-end dividend
(paid in June of following year)
Dividend payout (consolidated) (%)
2019 12.0 0.0 12.0 92.0
2020 12.0 0.0 12.0 47.5
2021 12.0 0.0 12.0 25.6
2022 18.0 0.0 18.0 19.5
2023 23.0 0.0 23.0 20.4
2024 25.0 0.0 25.0 19.0
2025(proposed) 25.0 0.0 25.0 37.8
2026(forecast) 38.0 0.0 38.0 30.5

Acquisition of Treasury Shares

Not planned at present.

Special Benefit for Shareholders

Not planned at present.