Basic policy regarding return of profits to shareholders
Recognizing that shareholders' interests represent one of the Company's highest management priorities, the Company has been striving to meet shareholder expectations by working to maximize its corporate value through a diversity of business operations worldwide.
The Company aims to balance aggressive growth investments with stock dividends and loan repayments and provide shareholder returns that reflect comprehensive consideration of the business environment, including trends in business performance and retained earnings, while maintaining a minimum dividend payout ratio of 20% of consolidated net income.
1. Forecast for Cash Dividends
The Company paid annual cash dividends of ¥10(a second-quarter end dividend of ¥5.0 and a year-end dividend of ¥5.0).
In addition, based on the fiscal 2013 full-year forecast, the Company will pay annual cash dividends of ¥17 per share ( a second-quarter end dividend of ¥8.5 and a year-end dividend of ¥8.5) with a payout ratio of 20% for fiscal 2013.
| |
Forecast for December 2013 | ||
|---|---|---|---|
| Interim Dividend | Year-end Dividend | Annual Dividend | |
| Dividend per share (Yen) | 8.5 | 8.5 | 17.0 |
2. History of Dividend per Share (Yen)
| Interim Dividend | Year-end Dividend | Annual Dividend | |
|---|---|---|---|
| March 2001 | 4.00 | 4.00 | 8.00 |
| March 2002 | 4.00 | 4.00 | 8.00 |
| March 2003 | 4.00 | 6.00 | 10.00 |
| March 2004 | 5.00 | 7.00 | 12.00 |
| December 2004 | - | 14.00 | 14.00 |
| December 2005 | 8.50 | 19.50 | 28.00 |
| December 2006 | 15.00 | 21.00 | 36.00 |
| December 2007 | 20.50 | 20.50 | 41.00 |
| December 2008 | 20.50 | 5.00 | 25.50 |
| December 2009 | 0 | 0 | 0 |
| December 2010 |
0 | 0 | 0 |
| December 2011 |
0 | 15.50 | 15.50 |
| December 2012 |
5.00 | 5.00 | 10.50 |
Note 1:The fiscal year ended December 31, 2004 is an irregular 9-month accounting period.
Note 2:FY2005, the 50th anniversary commemorative dividend of 5 yen is included in the year-end dividend of 19.5 yen.