With regard to our Group’s basic policy of profit redistribution, the 2019 Five-Year Mid-Term Management Plan we established in 2019, set out our intention to maintain a consolidated dividend payout ratio of 50%, thus improving returns to all shareholders.

 

For FY03/2021, we paid an interim dividend of ¥12.5 per share. And the year-end dividend, after a comprehensive consideration of performance for the year ending March 2021, dividend forecast of ¥12.5 per share (published on May 14, 2020) increased by ¥3.5 to ¥16.0. As a result, we declared a total annual dividend of ¥28.5 (a consolidated dividend payout ratio of 50.2%).

 

For FY03/2022, we paid an interim dividend of ¥14.0 per share, year-end dividend is also projected to be ¥14.0 per share, meaning a prospective annual dividend of ¥28.0 per share (a consolidated payout ratio of 50.2%).

2017.3 2018.3 2019.3 2020.3 2021.3 2022.3
(Forecast)
Interim Dividends (Yen) 10.00 11.00 11.50 12.50 12.50 14.00
Year-end Dividends (Yen) 12.00 12.00 14.50 15.50 16.00 14.00
Total (Yen) 22.00 23.00 26.00 28.00 28.50 28.00

* On 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.