The Company’s policy for shareholder returns

Returning profit to the Company’s shareholders and maintaining sufficient retained earnings to achieve stable future business development are the fundamental principles adopted by the Company. In concrete terms, the Company has adopted a progressive dividend (*1) system, which the amount of dividend is expected to increase in line with the Company’s medium-to-long term profit growth, along with a total payout ratio (*2) of 30% or more.
In addition, the policy of the Company is to pay dividends from surplus once a year, but the Company stipulates in its Articles of Incorporation that it may pay an interim dividend provided for in Article 454, paragraph (5) of the Companies Act. The bodies that decide dividends from surplus are the general meeting of shareholders for year-end dividends, and the Board of Directors for interim dividends.
For the fiscal year under review, the Company proposes to pay a year-end dividend per share of ¥44 (ordinary dividend of ¥44) in accordance with the dividend forecast announced on May 11, 2023. In that event, the total payout ratio would be 36.4%.

*1 Progressive dividends: Dividends are either maintained or increased, and not reduced.
*2 Total payout ratio: The ratio of the amount of dividends plus purchase of treasury shares to profit attributable to owners of parent

Acquisition of treasury shares