The Company constantly endeavors to increase the Group's earning potential, recognizing growth in the corporate value and the provision of appropriate shareholder returns as the most important management priorities. Our basic policy is to provide continuous and stable returns to shareholders while taking consolidated business results and future capital requirements into consideration.
With respect to the use of internal reserves, we will provide for capital needs, such as capital investments, R&D spending, and M&A, for the purpose of further increasing corporate value, and will efficiently invest surplus funds with risks taken into account.
With respect to future dividends to shareholders, we will endeavor to have a consolidated payout ratio of approximately 40%.
For the year ended March 31, 2020, the Company paid a year-end dividend of ¥55 per share, for an annual dividend of ¥110 per share combined with an interim dividend of ¥55 per share paid in November 2019.
For the year ending March 31, 2021, the Company plans to pay an ordinary annual dividend of ¥110 per share (including an interim dividend of ¥55 per share), resulting in a payout ratio of 37.6%.