Dividend Payments and Share Buybacks
Dividend Policy
The Company has positioned the distribution of profits to shareholders as a key management policy. Accordingly, it has set the progressive dividend policy of the dividend on equity (DOE) at 2.5% or higher for the period of the 25-27 Medium-term Management Plan. DOE will be determined based on the Company’s consolidated financial results with comprehensive consideration for strengthening of the financial standing, stabilization of the management base, and development of future business.
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Note 1: Since the Company was founded in September 2003, the figure for fiscal 2003 includes the year-end dividend only.
Note 2: The Company implemented a 4-to-1 stock split of ordinary shares on October 1, 2014, and the dividends are stated retroactively reflecting this stock split.
Dividend on Equity (DOE)
This is the numerical value derived by dividing total dividends by net assets, and is used as a management indicator to measure how much a company is returning to shareholders in the form of dividends relative to capital in terms of investment by shareholders, and net assets, the accumulation of profit gained through business. DOE can also be calculated by multiplying return on equity (profit* divided by net assets) with the dividend payout ratio (total dividend amount divided by profit*). (The amount of net assets used for this calculation is the amount excluding non-controlling interests from the net assets section of the balance sheet.)
* Profit is stated as profit attributable to owners of the parent.
Details of share Buyback
| Share buybacks period | Method of share buybacks |
Total number of share buybacks |
Total share buybacks amount |
|---|---|---|---|
| August 6, 2015-October 28, 2015 | Purchased on the Tokyo Stock Exchange |
6,984,500 shares | JPY 14,999,852,612 |
| May 14, 2018-August 14, 2018 | Purchased on the Tokyo Stock Exchange |
5,000,000 shares | JPY 13,334,468,179 |
| November 5, 2021-March 24, 2022 | Purchased on the Tokyo Stock Exchange |
9,147,800 shares | JPY 14,999,865,978 |
| May 16, 2023-October 2, 2023 | Purchased on the Tokyo Stock Exchange |
15,201,200 shares | JPY 34,999,803,457 |
| November 8, 2024-February 19, 2025 | Purchased on the Tokyo Stock Exchange |
5,113,600 shares | JPY 10,999,857,633 |
*Information relating to share buybacks after FY2013.
Cancellation of Treasury Stock
| Date of cancellation | Class of shares to be cancelled |
Number of shares to be cancelled |
Ratio of the total issued shares before cancellation |
|---|---|---|---|
| 15-Jul-22 | Common stock | 32,177,600 shares | 13.7% |
| 14-Mar-25 | Common stock | 11,540,000 shares | 5.7% |
*Information relating to cancellation of treasury shares after FY2013.