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Shareholders Return
1. Basic Policy for Earnings Distribution
Our basic policy for distribution of earnings to shareholders is:
(1) to allocate an appropriate portion of earnings as a dividend in accordance with business results while retaining the means to strengthen the corporate structure; and
(2) to strive to make continued, stable dividend payments. We will distribute annual dividends from surplus at the end of every fiscal year. Decisions regarding year-end dividends are made by the general meeting of shareholders. Internal reserves are used for reinforcing our financial position and for capital investment and R&D in an effort to improve business performance.
2. Share buyback
We regard the repurchasing of shares as a measure for allocating earnings to shareholders and will effectuate it taking into account stock price levels and market trends. As a general rule, we will retire treasury stock that it holds.
| Fiscal year ended | 20/3 | 21/3 | 22/3 | 23/3 | 24/3 |
|---|---|---|---|---|---|
| Cash dividends per share (Yen) | 15.00 | 40.00 | 100.00 | 120.00 | 100.00 |
| Cash dividends paid (million yen) | 520 | 1,388 | 3,373 | 4,008 | 3,284 |
| Repurchase of treasury stock (million yen) | 1,999 | — | 1,999 | 799 | 1,499 |
| Payout ratio (%) | 77.4 | 84.0 | 95.1 | 87.1 | 68.7 |
| Total return ratio (%) | 368.8 | 84.0 | 150.2 | 104.0 | 99.0 |
Notes : Amounts less than the unit expressed are omitted.
Total return ratio = (Cash dividends paid + Repurchase of treasury stock) / Net income (loss)
