Dividends

Dividend Policy

The Company is managed with a focus on ROE, as it aims for a sustainable increase in shareholder value, including the distribution of profits. The Company also aims to accelerate investment for growth, including R&D, improving facilities, and M&A, while also acting as an Environment and Energy Company group that is highly admired and trusted by society, markets, and stakeholders.
Regarding dividends, using the issuing of dividends twice a year, an interim and year-end dividend, as a base, the Company’s policy is to maintain a stable dividend on a continuous on a continuous basis, with a consolidated dividend payout ratio of about 30% as a benchmark.
Furthermore, the Company’s policy is also to proactively return profits to shareholders, including share buybacks and other methods, in cases when it has secured the internal reserves necessary for implementing future growth strategy, and after consideration of the stability of the Company. In principle, the Company will cancel treasury stock, although it may utilize treasury stock for share exchanges, in cases when an M&A deal exists that may contribute significantly to the improvement of shareholder value.

Dividend Per Share

  2012 2013 2014 2015 2016 2017
Forecast
Interim ¥7.5 ¥7.5 ¥7.5 ¥15 ¥15 ¥15
Term end ¥7.5 ¥7.5 ¥7.5 ¥15 ¥15 ¥15
Total ¥15 ¥15 ¥15 ¥30 ¥30 ¥30