Dividends and Dividend Payout Ratios

• Dividend policy / Dividends
• Stock Split
• Status of Acquisition / Cancellation of Treasury Shares

Dividend policy

We position the return of profits to our shareholders as an important management task. Our basic policy is to pay dividends stably and continuously, taking into comprehensive consideration the business performance, dividend payout ratio, and other factors.
Our basic policy is to pay dividends from surplus twice a year as interim and year-end dividends. These dividends from surplus are decided at the general meeting of shareholders for year-end dividends and by the Board of Directors for interim dividends. Our Articles of Incorporation stipulate that we may pay interim dividends with September 30 as the record date.

Dividends

	2020/03	2021/03	2022/03	2023/03	2024/03
Interim dividend (Yen)	15.00	13.00	15.00	15.00	15.00
Year-end dividend (Yen)	15.00	17.00	15.00	15.00	-
Annual dividend (Yen)	30.00	30.00	30.00	30.00	-
Dividend payout ratio (%)	43.3	83.9	-	411.2	-

Stock Split

Effective date	Split ratio	Number of shares after split
January 1, 2016	1：4	72,376,400

*The current total number of shares outstanding is 73,896,400.

Status of Acquisition/Cancellation of Treasury Shares

(Unit：Shares)

	Number of shares held at beginning of year	Number of shares acquired during fiscal year	Number of treasury shares disposed of during fiscal year	Number of treasury shares held at end of year	Ownership to total number of shares issued at end of year (%)
FY2018	3,048,638	92	5,800	3,042,930	4.1%
FY2019	3,042,930	-	-	3,042,930	4.1%
FY2020	3,042,930	80	128,029	2,914,981	3.9%
FY2021	2,914,981	-	36,082	2,878,899	3.9%
FY2022	2,878,899	-	54,594	2,824,305	3.8%