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Investor Relations

Dividend Policy

We have been targeting the Dividend Payout Ratio over 30% level based on our Dividend Policy to return to our shareholders in consideration of our financial performance while securing the internal reserve necessary for our future business development as well as strengthening of the management base.

*A stock split was implemented at a ratio of 200 shares for every share with the base date of September 30, 2012 and effective date of October 1, 2012. The figures above take into consideration this stock split as well as previous stock splits.

'04
March
'05
March
'06
March
'07
March
'08
March
'09
March
'10
March
Adjusted Dividend per
Share (Yen)
12.50 22.50 18.75 22.50 25.00 27.50 30.00
Dividend Payout Ratio(%) 30.8 50.0 35.0 36.0 40.9 35.7 37.8

'11
March
'12
March
'13
March
'14
March
'15
March
'16
March
(Forecast)
Adjusted
Dividend per Share (Yen)
27.50 32.50 35.00 35.00 37.50 41.00
Dividend Payout Ratio(%) 37.3 35.0 42.3 40.3 33.3 31.3
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