Returning Shareholders and Dividend Policy

Dividend Policy

The Company regards the distribution of profits to shareholders, in the form of dividend payments, as a matter of the highest priority. Management has targeted a payout ratio of about 40% (consolidated basis). The Company's fundamental policy is one of stable, long-term distribution of dividends to shareholders in line with the growth of operations.

In addition, the Company has not introduced a shareholder benefit plan.

Dividend Information

Full-year dividend per share(yen) 106.00 110.00 112.00 112.00 144.00 40.00
Interim dividend per share(yen) 53.00 55.00 56.00 56.00 63.50 20.00

*The Company conducted a 4-for-1 share split of its common shares on March 1, 2019. The dividends per share stated above for the fiscal year ended February 28, 2019 reflect the number of shares existing before the share split. Note that the dividends per share (est.) of the fiscal year ending February 29, 2020 reflect the number of shares existing after the share split.

Share Repurchase

Repurchase periodMethod of acquisitionTotal number of shares repurchasedTotal amount*
February 23, 2018 Over the counter 135,357 shares 1.1 billion yen
From May 22, 2006 to August 7, 2006 Purchase on the TSE 5,000,000 shares 16.4 billion yen

*Amounts less than 100 million JPY are rounded off.