Returns to Shareholders
Basic Policy on Returning Profits to Shareholders
We intend to meet the expectations of all shareholders by achieving steady earnings growth at Group companies, improving capital efficiency and returning profits to shareholders as appropriate.
Our basic dividend policy is to steadily increases in dividends in line with earnings growth over the medium to long terms. Our target for the dividend payout ratio is 40% to 50% of profit attributable to owners of the parent.
Management will determine specific dividend amounts for each fiscal year by taking into account a comprehensive range of factors, including the capital adequacy of each Group company relative to risk, investment opportunities, business forecasts and legal and regulatory developments worldwide.
We pay dividends once a year as a year-end dividend. Our Articles of Incorporation stipulate that it may also issue an interim dividend. In regard to the decision-making entities for the payment of dividends, the General Meeting of Shareholders decides the year-end dividend, while the Board of Directors decides on interim dividend.
Record Date for Dividend : March 31
|For the years ended March 31||2013||2014||2015||2016
|Profit attributable to owners of the parent **||¥45.0 billion||¥40.5 billion||¥54.4 billion||¥43.3 billion||¥46.0 billion|
|Net income per share||¥103.60||¥93.11||¥125.10||¥99.67||¥105.75|
|Dividend per share||¥25||¥30||¥40||¥55||¥55|
|Dividend payout ratio (consolidated)||24.1%||32.2%||32.0%||55.2%||52.0%|
*Figures less than the indicated unit have been truncated, and dividend payout ratios have been rounded.
**Starting FY2015, the figures previously reported as "Consolidated net income" are stated as "Profit attributable to owners of the parent" in accordance with the Accounting Standard for Business Combinations (ASBJ Statement No. 21, on Sep. 13, 2013) and the related revision.
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