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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

FY2015 FY2016 FY2017 FY2018 FY2019
Interim ¥12.0 ¥13.5 ¥13.0 ¥15.0 ¥16.0
year-end ¥18.0 ¥16.5 ¥19.5 ¥21.0 ¥14.0
(fiscal) ¥30.0 ¥30.0 ¥32.5 ¥36.0 ¥30.0
Payout ratio 30.6% 33.0% 30.2% 28.0% 35.0%

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