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Returns to Shareholders and Dividend

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The fundamental view over the Returns to Shareholders

Our basic policy on profit sharing is to pay dividends based on consolidated payout ratio of around 40% or above, comprehensively taking into consideration our medium-term profit forecast, investment plans, and cash flows.

History of our dividend

Basic Policy Consolidated payout ratio of at least 30% Consolidated payout ratio of around 40% or above Payout Ratio 36% 38% 37% 35% 35% 33% 33% 43% 44% 45% 45% Dividend per share : Yen FY2016 Annual : 25, FY2017 Annual : 30, FY2018 Annual : 30, FY2019 Annual : 30, FY2020 Annual : 30, FY2021 Annual : 37.5, FY2022 Annual : 45, FY2023 Annual : 60, FY2024 Annual : 70, FY2025 Annual : 85, FY2026 Forecast* : 95
  • *
    The starting of paying a dividend-interim dividend : Late in August / year-end dividend : Late in March

(Dividend:Yen / Payout Ratio:%)

FY Interim Year-end Annual Payout Ratio
(Full Year)
2025 35 50 85 45
2024 30 40 70 44
2023 25 35 60 43
2022 20 25 45 33
2021 15 22.5 37.5 33
2020 10 20 30 35
2019 15 15 30 35
2018 12.5 17.5 30 37
2017 12.5 17.5 30 38
2016 10 15 25 36
  • *
    The Company conducted a share split in the proportion of two shares for one share of common stock, with the record date set as March 31, 2026 and the effective date set as April 1, 2026. Annual dividends per share for 2025 and earlier have been calculated on the assumption that the share split was conducted at the beginning of each relevant consolidated fiscal year.

Status of Treasury Stock

Acquisition period Means of acquisition Aggregate number of
shares acquired		 Acquisition cost:Yen
July 27, 2026 Repurchase of shares on the Tokyo Stock Exchange Trading Network Off Auction Own Share Repurchase Trading System (ToSTNeT-3) 97,500 348,465,000
February 2, 2026 to
May 21, 2026		 Market purchase in the form of trust 8,437,000 29,999,906,200
October 27, 2025 to
December 19, 2025		 Market purchase in the form of trust 1,492,800 9,999,455,500
July 24, 2025 Repurchase of shares on the Tokyo Stock Exchange Trading Network Off Auction Own Share Repurchase Trading System (ToSTNeT-3) 202,700 1,066,202,000
December 12, 2024 Repurchase of shares on the Tokyo Stock Exchange Trading Network Off Auction Own Share Repurchase Trading System (ToSTNeT-3) 747,500 3,718,812,500
July 25, 2024 to
August 22, 2024		 Acquisition through a tender offer 20,025,320 81,923,584,120
November 5, 2013 to
December 12, 2013		 Market purchase in the form of trust 3,402,900 4,999,939,300
October 24, 2012 to
December 3, 2012		 Market purchase in the form of trust 4,248,200 4,999,973,500
November 8, 2010 to
December 3, 2010		 Market purchase in the form of trust 4,348,500 4,999,952,200
October 24, 2008 to
November 12, 2008		 Market purchase in the form of trust 3,406,100 4,999,932,400
August 11, 2008 to
September 11, 2008		 Market purchase in the form of trust 2,861,300 4,999,986,000
February 14, 2008 to
March 11, 2008		 Market purchase in the form of trust 2,764,700 4,999,986,000
October 23, 2007 to
November 27, 2007		 Market purchase in the form of trust 2,257,200 4,999,873,000
August 10, 2007 to
September 5, 2007		 Market purchase in the form of trust 2,368,300 4,999,843,800
  • *
    The Company cancelled 20,000,000 of its own stock at March 11,2020.
  • *
    The Company cancelled 20,000,000 of its own stock at September 30,2024.
  • *
    The Company conducted a share split in the proportion of two shares for one share, with an effective date of April 1, 2026. However, the aggregate number of shares acquired is shown on a pre-share split basis for fiscal years up to 2025.