Capital Policy

We will achieve sustainable growth, even in uncertain business environments, by investing to strengthen, expand and create businesses.


Internal reserves after shareholder returns are used for investments that aim to improve the competitiveness of existing businesses, for investments to diversify and expand the business portfolio, and for investments to create new business territories in cooperation with partners, with the ultimate aim of sustaining growth and increasing shareholder value.
For business investments, acquisition candidates are screened for their affinity with our corporate culture and for operations that can generate synergies with existing businesses while dispersing risk, in order to contribute to sustained improvement in the Groupʼs capital efficiency.
Through these investments, we aim to accelerate improvements in capital efficiency and secure competitiveness in the future, even in uncertain business

Shareholder Return Policy

  • For FY2018, the annual dividend is  140yen. (up 10yen from the previous year)  In addition, share buybacks of up to 32yen billion are planned.
  • For FY2019, the annual dividend is forecast to rise by 10yen to 150yen.

Shareholder Return Policy

Provide shareholder return based on shareholder dividends and repurchase of our own shares by adopting a benchmark of 40%~60% of Group Adjusted  Profit

Adopt basic policy of providing stable dividends. (DOE: Dividend on equity ratio: Aim for level of 2.0%~3.0%)
<Share buybacks>
Repurchase own shares flexibly, and as opportunities arise, with due consideration paid to market conditions and the state of capital.

Shareholder Return Plan

FY2018: The annual dividend is 140yen (up 10yen from the previous year)
FY2019: The annual dividend is forecast at 150yen (up 10yen from the previous year)
<Share buybacks>
FY2018: Share buybacks maximum 32yen billion are to be implemented (resolved on May 20, 2019)

Past Shareholder Returns

Total shareholder returns

Replacement of Group Adjusted Profit and Group Adjusted ROE