To Our Shareholders and Investors

We would like to take this chance to thank you for your continued support. 

 

We recognize the distribution of profits to shareholders as a key management topic. We make decisions on dividends in consideration of the need to ensure adequate internal reserves to strengthen management foundations. At the same time, we strive to provide returns to shareholders while keeping in mind the dividend on equity ratio so that we can maintain our dividend payout ratio while increasing capital productivity.

 

Our basic policy is to enhance distribution to shareholders by maintaining a consolidated payout ratio of 50% while continually improving profits, the source of dividends, by achieving the goals of the current 2019 Five-Year Mid-Term Management Plan.

 

For the FY03/2023, both the interim dividend and year-end dividend were ¥14.00 per share, meaning an annual dividend of ¥28.00 per share(a consolidated payout ratio of 49.4%).

 

For the FY03/2024, we paid an interim dividend of \15.00 per share, a year-end dividend is projected to be ¥15.00 per share, meaning a prospective annual dividend of ¥30.00 per share(a consolidated payout ratio of 51.4%).

* The interim dividend for the fiscal year ending 2022 shown above consists of an ordinary dividend of ¥14.00 and a special dividend of ¥13.50.

2019.3 2020.3 2021.3 2022.3* 2023.3 2024.3
Interim dividend (Yen) 11.50 12.50 12.50 27.50
[Ordinary dividend 14.00]
[Special dividend 13.50]
14.00 15.00
Year-end dividend (Yen) 14.50 15.50 16.00 14.00
[Ordinary dividend 14.00]
[Special dividend 00.00]
14.00 15.00
(Fore-
cast)
Total (Yen) 26.00 28.00 28.50 41.50
[Ordinary dividend 28.00]
[Special dividend 13.50]
28.00 30.00
(Fore-
cast)

* Breakdown indicated in brackets

We will continue to adopt a sound management approach so that shareholders and investors will invest with peace of mind. Further, through improved investor relations, we will seek sympathetic investors with an understanding of our management philosophy and corporate culture.

October 2023

President and Representative Director
Nippon Air Conditioning Services Co., Ltd.