Dividend policy
We consider it our top priority to provide returns to shareholders while also maximizing our corporate value. Specifically, our basic policy is to comprehensively take into account our business plans, financial condition, operating results, payout ratio, dividend on equity ratio, and so on so that dividends remain stable. As for retained earnings, we plan to allocate them to investment in strengthening our R&D capabilities, to capital expenditure, and to M&A involving golf courses.
Dividend trend (Units: dividend: yen, payout ratio: %)
| Interim | Final | Full year | Payout ratio | |
|---|---|---|---|---|
| FY 3/2026 | 40 | 40 | 80 | 67.6 |
| FY 3/2025 | 40 | 40 | 80 | 60.4 |
| FY 3/2024 | 40 | 40 | 80 | 47.5 |
| FY 3/2023 | 40 | 40 | 80 | 38.1 |
| FY 3/2022 | 40 | 40 | 80 | 359.7 |
| FY 3/2021 | 40 | 40 | 80 | 912.1 |
| FY 3/2020 | 40 | 40 | 80 | 49.7 |
| FY 3/2019 | 40 | 40 | 80 | 48.3 |
| FY 3/2018 | 40 | 40 | 80 | 115.9 |
| FY 3/2017 | 40 | 40 | 80 | 29.1 |
| FY 3/2016 | 40 | 40 | 80 | 26.8 |
Payout ratio (%) = dividend per share / net income per share X 100