Stock and Bonds

Dividend Information

Dividend Policy

As a holding company of the Group, under the Medium-Term Management Policy formulated in 2016, the Company has strengthened earning power by positioning the domestic profit base as the cornerstone of earnings and the overseas business as a growth engine. The Company has also been giving top priority to utilizing the generated cash flows to acquire foundations for growth including domestic and foreign M&As. In terms of shareholder returns, the Company has aimed to steadily increase dividends, targeting a dividend payout ratio of 30% (IFRS basis) by fiscal 2018.
*Dividend payout ratio is calculated after the deduction of one off special factors including business portfolio restructuring and foreign exchange impact.

Fixed Date of Dividend Payout and Starting Date of Payout

Interim Dividend Year-end Dividend
Date of record June 30 December 31
Payment date Late August - Early September The following business day of the Annual General Meeting of Shareholders

Historical Data on Dividends per Share

(yen / %) < J GAAP > < IFRS >
2014 2015 2016 2017 2018(E)
Interim Dividend 22.0 24.0 26.0 30.0 45.0
Year-end Dividend 23.0 26.0 28.0 45.0 54.0(E)
Total Dividend 45.0 50.0 54.0 75.0 99.0(E)
Basic earnings per share 148.9 166.3 194.8 262.2 329.0
Dividend payout ratio 30.2 30.1 27.7 28.6 30.1(E)