Shareholder Return (Dividend/Share Repurchase)

As of March 31, 2023

Basic policies for capital and shareholder distributions

Our capital policy is based on striving for effective management that places emphasis on return on equity (ROE) while being aware of the capital cost and improving corporate value by improving shareholder return and optimizing the balance between financial soundness and strategic investments.
For shareholder distributions, we will maintain a stable dividend while aiming for the distribution of earnings linked with results of operations.
Decisions about the repurchase of stock will be made based on the current level of capital, the market environment and other applicable considerations.
Shareholders’ equity will be effectively used for the improvement of production, sales and construction systems as well as for new businesses, global operations and other activities in order to achieve medium- and long-term growth and build a solid foundation for business operations.

Shareholder Return Policy in the Medium-Term Management Plan GP25 3rd Stage

Shareholder return in the Medium-Term Management Plan GP25 3rd Stage for four years (FY 2023‒2026) puts emphasis on the improvement of profit return linked with the results of operations and the maintenance of a stable dividend that is less affected by the short-term profit fluctuation and we implement the dividend payment with goals of the dividend payout ratio at 35% and DOE (Dividend On Equity ratio) at 3.5%.

Transition of Dividend per Share

*Excluding temporary factors
Dividend per Share (yen) Dividend Payout Ratio DOE
Interim dividends Year-end dividends Fiscal year (total)
(forecast 5/11)
60.00 60.00 120.00 52.1% 3.7%
FY2023/3 50.00 60.00 110.00 27.8%
FY2022/3 45.00 55.00 100.00 33.1% 3.6%
FY2021/3 30.00 40.00 70.00 32.4% 2.9%
FY2020/3 35.00 35.00 70.00 33.4% 3.2%
FY2019/3 37.00 37.00 74.00 42.4% 3.4%
35.00 39.00 74.00 30.3% 3.5%
FY2017/3 25.00 39.00 64.00 30.1% 3.5%
FY2016/3 26.25 23.75 50.00 30.4% 3.0%
FY2015/3 18.75 18.75 37.50 33.6% 2.4%
FY2014/3 18.75 18.75 37.50 37.0% 2.6%
Transition of Dividend per Share

*The company consolidated shares at a rate of one share per five as of October 1, 2016. The past figures were also consolidated retrospectively for ease of comparison.

Treasury Stock

As of March 31, 2023

(1)Status of acquisition upon resolution of general meeting of shareholders
Not applicable.

(2)Status of acquisition upon resolution of the Board of Directors
Not applicable.

(3)Matters contingent neither on resolution of general meeting of shareholders nor on resolution of the Board of Directors

Shares Yen
Treasury shares acquired in the current fiscal year 32 76,736

(4)Status of disposal and possession of treasury shares acquired

Shares Yen
Treasury shares offered to subscriber - -
Treasury shares disposed - -
Treasury shares transferred in relation to merger, share exchange or demerger - -
(provision of transfer-restricted stock-based compensation)
12,850 17,145,768
(Sold due upon request for sale of shares constituting less than one full unit)
- -
Number of treasury shares held 1,022,456 -

Stock Split

No stock split for the past 5 years.

Cancellation of treasury stock

Date of cancellation of shares Aggregate Number of Cancelled Shares (shares) Issued shares before amortization Percentage to total (%)
June 5, 2015 5,000,000 3.82