Shareholder Returns and Dividends

Basic policy on shareholder returns

The Company regards the return of profits to its shareholders as a key management priority. Our basic policy is to return profits in accordance with corporate earnings while focusing on maximizing corporate value and maintaining sufficient internal reserves to support active business expansion and other development. In order to further clarify our position regarding shareholder returns, we have established a benchmark consolidated payout ratio of approximately 40%. We will pursue a sustained allocation of profit, taking into account consolidated results, ROE, and other factors.

Dividend payments


Dividend payments
Dividends per share 2014/3 2015/3 2016/3 2017/3 2018/3
Dividend per share
15.0 28.0 38.0 42.0 44.0
Interim dividend 5.0 11.0 15.0 20.0 22.0
Year-end dividend 10.0 17.0 23.0 22.0 22.0
Payout ratio (%) 30.3 41.6 42.1 41.1 68.6

Annual dividends per share

  • ※Gurunavi implemented a 2-to-1 split on April 1, 2014. To facilitate comparison, the above shows this share split as having been carried out at the beginning of FY2012.

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