Shareholder Returns/Dividends

Dividend Policy

We intend to keep dividends stable while also comprehensively taking into account earnings performance and cash flows when determining shareholder returns.

We will endeavor to return profits to shareholders based on a target total return ratio of 30 %.




Fiscal Year Dividend (Yen) Payout Ratio
FY2017 24Yen 23.7%
FY2016 20Yen 22.3%
FY2015 18Yen 22.2%
FY2014 13Yen 20.8%
FY2013 9Yen 27.3%

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