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Dividend Policy and Treasury Share Acquisition Policy
Our dividend policy is basically to distribute dividends according to consolidated business performance of each fiscal year. In determining the amount of the dividends, we take into account the trends in business performance, the business development in the future and the amount of the reserves necessary for keeping the financial condition.
Shareholder Returns Policy（announced 2024）
Payout ratio of approximately 40% based on underlying profit * (up 10% from the previous policy)
Minimum dividend per share: ¥11
Acquisition of treasury shares is positioned to supplement dividends
* Underlying ordinary profit (ordinary profit excluding the impact of inventory and one-time factors) × 0.7 (income taxes, etc.)
Dividends Trend
| FYE December 2022 | FYE December 2023 | FYE December 2024 | FYE December 2025 | FYE December 2026 (Forecast) |
|
|---|---|---|---|---|---|
| Interim dividend | ¥8 | ¥3 | ¥4 | ¥5 | ¥5.5 |
| Year-end dividend * | ¥9 | ¥6 | ¥7 | ¥7 | ¥7.5 |
| Total | ¥17 | ¥9 | ¥11 | ¥12 | ¥13 |
* The year-end dividend is a matter to be decided by the resolution of the Annual General Meeting of Shareholders.
