Return to Shareholders (Dividends, etc.)

Investor RelationsStock and bond information

Return to Shareholders (Dividends, etc.)

Basic Policies Regarding Distribution of Profits and Dividends

The Company regards the return of profits to shareholders to be one of its most important policies. Our basic policy is to determine the distribution of profits targeting a payout ratio of 25% or more while maintaining a stable dividend policy under the Medium- and Long-Term Management Plan “Value Frontier 2020,” comprehensively taking into consideration our business results and the future business environment as well as the capital requirements for medium- and long-term business development, etc. The Company pay year-end dividends of ¥8.0 per share (annual dividends of ¥16.0) in consideration of the aforementioned policy. As a result, the dividend payout ratio for this fiscal year is 53.1%.
Based on the long-term vision “GROUP VISION 2030,” which began in the fiscal year ending March 31, 2022, the Company will increase earnings per share over the medium to long term through growth investment, such as medium- and long-term business development including development in the greater Shibuya area, and improve shareholder value while maintaining a basic policy of returning profits created to our shareholders. Regarding the return of profits, the Company is targeting a dividend payout ratio of 30% or more for the time being and will strive to continue providing stable dividends while comprehensively taking into consideration our business results, future business environment, financial condition and other factors. For the next fiscal year, the Company plans to pay second quarter-end dividends of ¥8.0 per share and year-end dividends of ¥8.0 per share for total annual dividends of ¥16.0 per share with the dividend payout ratio of 38.4%.

Changes to Dividend per Share




  2017/3 2018/3 2019/3 2020/3 2021/3
Interim 6.5 7.0 7.5 8.0 8.0
Year-end 6.5 7.5 8.0 8.0 8.0
Total 13.0 14.5 15.5 16.0 16.0
Dividend payout ratio (%) 25.1 25.1 27.3 29.8 53.1

There were no stock splits during above period.

Acquisition of Treasury Stock, etc.

Fiscal 2020
(1) Acquires pursuant to resolutions passed at the general meeting of shareholders.
Not applicable
(2) Acquires pursuant to resolutions passed by the board of directors
Not applicable
(3) Items not based on board of directors' resolutions or resolutions passed at the general meeting of shareholders
· Treasury stock acquired in the current fiscal year

Year Number of shares
Fiscal 2020 2,187

· Total number of treasury shares held (as of year ended March 2021)

Accumulated Number of shares
Fiscal 2020 (as of March 2021) 274,292
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