Shareholder Returns / Dividends

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We believe in the importance of returning profits to shareholders in the form of dividends. While it is our basic policy to provide stable, sustainable dividends, when determining dividend amounts we take into consideration such factors as operating performance trends, the need for investment to enhance our corporate value and secure funding for R&D to reinforce our competitiveness, and strengthening our financial standing.

After taking into overall consideration our operating performance for the year and the need to prepare for financial risk in the face of the COVID-19 pandemic, we have decided to forego the disbursement of dividends for the fiscal year ending March 31, 2021.

Note: Fiscal years are from April 1 of the indicated year to March 31 of the following year.


  FY2017 FY2018 FY2019 FY2020 FY2021
Dividend per share (full-year) 60.00* 60.00 20.00 0.00 85.00
Interim dividend 3.00 0.00 0.00 - -
Payout ratio (%) 23.6 259.3 47.3 - 20.5

* The Company conducted a 1-for-10 reverse stock split on common shares with an effective date of October 1, 2017. The indicated dividend per share for the fiscal year ended March 31, 2018 (full-year) takes this reverse stock split into account.

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