Dividends and Payout Ratio

Dividend Policy

We recognize enhancing corporate value and returning profits to our shareholders as one of our most important management priorities.

While maintaining an appropriate balance between retained earnings for strengthening our business foundation and preparing for future growth opportunities, we strive to allocate profits appropriately among shareholder returns, growth investments, and investments in human capital that contribute to the enhancement of corporate value.

Regarding dividends, with the aim of ensuring both dividend stability and continuity while improving capital efficiency, during the period of our Medium-Term Management Plan covering fiscal years 2026 through 2030, we will target a Dividend on Equity (DOE) ratio of 2.5%, while also taking the dividend payout ratio into consideration. Dividend levels will be determined based on a comprehensive assessment of business performance, financial position, and other relevant factors.

In addition, subject to maintaining a sound financial position, we will consider flexible measures to enhance shareholder returns, including the acquisition of treasury shares.

Note:
DOE (Dividend on Equity) = Annual dividends ÷ Average consolidated shareholders’ equity (average of opening and closing balances) × 100