The Company constantly endeavors to increase the Group’s earnings 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 business results and future capital requirements into consideration.
With respect to the use of retained earnings, 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 investment risks taken into account.
For the year ended March 31, 2017, the Company plans to pay a year-end dividend of ¥45 per share, for an annual dividend of ¥85 per share combined with an interim dividend of ¥40 per share paid in November 2016.
For the year ending March 31, 2018, the Company plans to pay an ordinary annual dividend of ¥90 per share (including an interim dividend of ¥45 per share), resulting in a payout ratio of 38.2%.