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 fiscal year ended March 2021, we paid an interim dividend of ¥12.50 per share.

Based on a comprehensive review of business performance and other factors during the fiscal year in question, we decided to increase the year-end dividend to ¥16.00 per share, up ¥3.50 yen from the dividend forecast of ¥12.50 per share announced on May 14, 2020. This resulted in a total annual dividend of ¥28.50 per share (a consolidated dividend payout ratio of 50.2%).


We plan to revise upward the most recent projected interim dividend for the fiscal year ending March 2022 (projected dividend per share with a basis date of September 30, 2021) of ¥14.00 per share by ¥13.50 per share to ¥27.50 per share, through the payment of a special dividend of ¥13.50 per share, funded by 50% of the increase in net income attributable to owners of the parent resulting from gains on sales of investment securities included in the projected consolidated results for the fiscal year ending March 2022.
We plan to pay a year-end dividend of ¥14.00 per share.
As a result, we plan to revise upward our most recent projected full-year dividend of ¥28.00 per share by ¥13.50 per share to ¥41.50 per share.

* The projected 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.

* The projected consolidated payout ratio for the fiscal year ending 2022 shown above was calculated using 34,693,083 shares of common stock issued and outstanding (not including treasury stock) as of the end of the first quarter of the fiscal year ending March 2022.

2017.3 2018.3 2019.3 2020.3 2021.3 2022.3
Interim dividend (Yen) 10.00 11.00 11.50 12.50 12.50 27.50
[Ordinary dividend 14.00]
[Special dividend 13.50]
Year-end dividend (Yen) 12.00 12.00 14.50 15.50 16.00 14.00
[Ordinary dividend 14.00]
[Special dividend 00.00]
Total (Yen) 22.00 23.00 26.00 28.00 28.50 41.50
[Ordinary dividend 28.00]
[Special dividend 13.50]

* Breakdown indicated in brackets