Shareholder Return Policy

Policy on Decision of Appropriation of Surplus

As a pure holding company, the Company conducts its business with the goal of maximizing the entire Group’s corporate value. Accordingly, with respect to the appropriation of surplus, the Company’s policy is to pay dividends with the goal of having a payout ratio of 30% of profit attributable to owners of parent. Retained earnings are used to facilitate the growth of the Group as a whole through capital expenditure—to strengthen the network, one of our management resources, and develop new businesses and products, for example—and investments are aimed at raising the corporate value in the future. Finally, the use of treasury shares is strategically positioned for flexible utilization, such as M&A, as a part of our capital policy.

Shareholder Returns

Interim dividend
(yen)
Final dividend
(yen)
Full-year dividend
(yen)
Payout ratio (%)
FY2022/3 23.00(Forecast) 23.00(Forecast) 46.00(Forecast)
FY2021/3 16.00 30.00 46.00 30.4
FY2020/3 15.00 26.00
(commemorative dividends 10yen)
41.00 72.2
FY2019/3 14.00 14.00 28.00 43.0
FY2018/3 13.00 14.00 27.00 58.4
FY2017/3 13.00 14.00 27.00 59.5
FY2016/3 13.00 15.00
(commemorative dividends 2yen)
28.00 29.0
FY2015/3 12.00 13.00 25.00 27.7
FY2014/3 12.00 12.00 24.00 29.2
FY2013/3 11.00 12.00 23.00 28.1
FY2012/3 11.00 11.00 22.00 47.8

Acquisition of Treasury Stock

Acquisition period

Method of acquisition

Total number of shares acquired

Total acquisition price

February 6, 2020 to September 8, 2020 Market purchases on the Tokyo Stock Exchange 22,764,400 shares 49,999,923,900 yen
January 31, 2017 to March 3, 2017 Market purchases on the Tokyo Stock Exchange 4,238,000 shares 9,999,800,600 yen
January 29, 2016 to March 18, 2016 Market purchases on the Tokyo Stock Exchange, including through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) 12,563,600 shares 29,999,981,500 yen
July 31, 2015 to August 13, 2015 Market purchases on the Tokyo Stock Exchange 7,284,300 shares 19,999,935,600 yen
October 31, 2014 to November 28, 2014 Market purchases on the Tokyo Stock Exchange, including through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) 11,962,100 shares 29,999,917,050 yen
January 30, 2014 to February 5, 2014 Market purchases on the Tokyo Stock Exchange, including through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) 4,766,300 shares 9,999,933,400 yen
February 22, 2013 to March 8, 2013 Market purchases on the Tokyo Stock Exchange, including through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) 6,428,700 shares 9,999,982,300 yen
February 18, 2011 to April 26, 2011 Market purchases on the Tokyo Stock Exchange, including through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) 23,615,500 shares 29,999,996,900 yen

Cancellation of Treasury Stock

Date of Cancellation

Type of shares

Total number of shares canceled

October 13, 2020 Common shares 22,764,400 shares
March 31, 2016 Common shares 13,821,700 shares
August 13, 2015 Common shares 10,403,100 shares
November 13, 2014 Common shares 19,120,200 shares
February 10, 2014 Common shares 6,660,500 shares
March 4, 2013 Common shares 6,707,400 shares