Shareholder Return

Dividend policy under “To zero, from zero,” our long-term management plan

Recognizing the importance of capital efficiency and emphasizing the stable and continuous return of profits to shareholders which are not easily influenced by short-term profit volatility, we pay dividends targeting a dividend on equity (DOE) of at least 4.0%, maintaining a balance between a return on equity of at least 10%, our medium to long-term performance target, and a dividend payout ratio of at least 40%. In addition, we will consider the acquisition of treasury stock flexibly.

Dividend Growth