Investor Presentaiton
Policy on returns to shareholders
◆ To clarify our stance on returning gains to shareholders, we revised the payout table to reflect a consolidated payout
ratio of roughly 31-36%. We will increase dividends accordingly from FY2020.
☐ Revisions to the payout table
After
Before
Dividends per share
Dividends per share
Net income attributable
to owners of the parent
2 Performance-
1Fixed
1 +②
Consolidated
payout ratio
1Fixed
2 Performance-
based
Consolidated payout
ratio
% Change
1+2
based
18 yen
36 yen
Less than 34.1%
+11.4%pt or less
More than 33 billion yen
12 yen
24 yen
Less than 22.7%
More than 30 and not
10 yen
22 yen
exceeding 33 billion yen
More than 27 and not
8 yen
20 yen
20.8% or more and
less than 22.9%
20.8% or more and
less than 23.1%
15 yen
33 yen
31.2% or more and
less than 34.4%
12 yen
30 yen
31.2% or more and
less than 34.7%
exceeding 30 billion yen
More than 24 and not
exceeding 27 billion yen
More than 21 and not
exceeding 24 billion yen
12 yen
6 yen
18 yen
20.8% or more and
less than 23.4%
18 yen
9 yen
27 yen
31.2% or more and
less than 35.1%
4 yen
16 yen
20.8% or more and
less than 23.8%
6 yen
24 yen
31.2% or more and
less than 35.7%
20.8% or more and
3 yen
21 yen
31.2% or more and
less than 36.4%
+10.4-11.5%pt
+10.4-11.6%pt
+10.4-11.7%pt
+10.4-11.9%pt
+10.4-12.1%pt
More than 18 and not
2 yen
14 yen
less than 24.3%
exceeding 21 billion yen
0 yen
18 yen
31.2% or more
+10.4%pt or more
18 billion yen or less
0 yen
12 yen
20.8% or more
[Trends in consolidated payout ratio]
(%)
35.0
30.0
24.3%
25.0
20.0
15.0
10.0
FY2018
28.8%
33.2%
Payout table referred to starting
with year-end dividends for FY2019
FY2019
Consolidated
payout ratio
11.0%
10.8%
FY2020 (planned)
10.7%
The amount of dividends/share (payout) is projected to
increase based on the revised payout table.
We expect to be able to maintain a
consolidated capital adequacy ratio of
10%, our medium- to long-term target.
We will also reconsider capital policies
with the capital adequacy ratio in mind.
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