In line with our company's basic profit returns policy and the current mid-2016 three year business plan, we will maintain dividend levels, with the prospect of consolidated payout ratio of 50%. 

 

For FY03/2018, we paid an interim dividend of ¥11 per share. And the year-end dividend, after a comprehensive consideration of performance for the year ending March 2018, the most recent dividend forecast of ¥11 per share increased by ¥1 to ¥12. As a result, we declared a total annual dividend of ¥23 (a consolidated dividend payout ratio of 51.6%).

 

For FY03/2019, we paid an interim dividend of ¥11.5 per share, year-end dividends are also projected to be ¥11.5 per share, meaning a prospective annual dividend of ¥23 per share (a consolidated payout ratio of 50.4%).

2014.3 2015.3 2016.3 2017.3 2018.3 2019.3
(Forecast)
Interim Dividends (Yen) 4.00 5.00 7.50 10.00 11.00 11.50
Year-end Dividends (Yen) 4.00 7.50 7.50 12.00 12.00 11.50
Commemorative Dividends (Yen) 1.25 - - - - -
Total (Yen) 9.25 12.50 15.00 22.00 23.00 23.00

* On April 1, 2014 and April 1, 2016 a common stock split of 2-for-1 came into effect. 
* For dividends before March 2016, the recorded values are adjusted to reflect stock split above.