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Returns to Shareholders

Returns to Shareholders

Dividend policy

Yamazen makes it a basic policy to return profits to shareholders taking into account the level of profits, grounded in the continuation of a stable dividend to shareholders through working to establish a more stable financial position and to improve profitability. With regard to internal reserves, while working to increase shareholders’ equity further, we allocate funds to investments that lead to sustainable growth in the business, and meet the expectations of shareholders by increasing corporate value through growth in the medium- to long-term.

Dividends

FY2020 FY2021 FY2022 FY2023 FY2024 (Forecast)
Interim ¥16.0 ¥10.0 ¥10.0 ¥20.0 ¥20.0
year-end ¥14.0 ¥10.0 ¥25.0 ¥20.0 ¥25.0
(fiscal) ¥30.0 ¥20.0 ¥35.0 ¥40.0 ¥45.0
Payout ratio 35.0% 24.9% 26.2% 28.4% 40.0%

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