We regard shareholder interests as a vital management issue. With this recognition, we will deliver well-balanced return of profits to all stakeholders based on our earnings, investment plans, and the business environment in each fiscal year, while securing an equity ratio of 50% or higher and setting a minimum level of net cash at two months' worth of net sales. Our focus will be on providing stable and continuous returns with dividends as the main form of returns to shareholders.
Our yearly dividend payments will be 144 yen per share from the fiscal year ending March 2019 to the fiscal year ending March 2021. We will also flexibly conduct share repurchases depending on our cash flow situation.

Dividend Payout Ratio, Dividend Yield

Dividend Per Share

Term Year Dividend per share (yen) Note
89th
(FYE 2020)
2020 (R 2) End of term 72.0 (forecast)  
2019 (R 1) Interim 72.0 (forecast)  
88th
(FYE 2019)
2019 (H 31) End of term 72.0  
2018 (H 30) Interim 72.0  
87th
(FYE 2018)
2018 (H 30) End of term 72.0  
2017 (H 29) Interim 72.0  
86th
(FYE 2017)
2017 (H 29) End of term 72.0  
2016 (H 28) Interim 72.0  
85th
(FYE 2016)
2016 (H 28) End of term 72.0  
2015 (H 27) Interim 72.0  
84th
(FYE 2015)
2015 (H 27) End of term 37.0  
2014 (H 26) Interim 31.0  
83th
(FYE 2014)
2014 (H 26) End of term 33.0 Ordinary dividends ¥28
Commemorative dividends ¥5
2013 (H 25) Interim 20.0  
82th
(FYE 2013)
2013 (H 25) End of term 10.0  
2012 (H 24) Interim 5.0  
81th
(FYE 2012)
2012 (H 24) End of term 4.5  
2011 (H 23) Interim 4.5  
80th
(FYE 2011)
2011 (H 23) End of term 4.5  
2010 (H 22) Interim 4.5  
79th
(FYE 2010)
2010 (H 22) End of term 0.0  
2009 (H 21) Interim 0.0  
78th
(FYE 2009)
2009 (H 21) End of term 0.0  
2008 (H 20) Interim 4.5  
77th
(FYE 2008)
2008 (H 20) End of term 4.5  
2007 (H 19) Interim 4.5  
76th
(FYE 2007)
2007 (H 19) End of term 4.5  
2006 (H 18) Interim 4.5  
75th
(FYE 2006)
2006 (H 18) End of term 4.5  
2005 (H 17) Interim 4.5  
74th
(FYE 2005)
2005 (H 17) End of term 4.5  
2004 (H 16) Interim 4.5  
73th
(FYE 2004)
2004 (H 16) End of term 4.5  
2003 (H 15) Interim 4.5  
72th
(FYE 2003)
2003 (H 15) End of term 4.5  
2002 (H 14) Interim 4.5  
71th
(FYE 2002)
2002 (H 14) End of term 4.5  
2001 (H 13) Interim 4.5  
70th
(FYE 2001)
2001 (H 13) End of term 4.5  
2000 (H 12) Interim 4.5  
69th
(FYE 2000)
2000 (H 12) End of term 5.0 Common dividend ¥4
Memorial dividend ¥1
1999 (H 11) Interim 4.0  
68th
(FYE 1999)
1999 (H 11) End of term 4.5  
1998 (H 10) Interim 3.5  
67th
(FYE 1998)
1998 (H 10) End of term 3.5  
1997 (H 9) Interim 3.5  
66th
(FYE 1997)
1997 (H 9) End of term 7.0  
1996 (H 8) Interim 0.0  
65th
(FYE 1996)
1996 (H 8) End of term 5.0  
1995 (H 7) Interim 0.0  
64th
(FYE 1995)
1995 (H 7) End of term 0.0  
1994 (H 6) Interim 0.0  
63th
(FYE 1994)
1994 (H 6) End of term 0.0  
1993 (H 5) Interim 0.0