Dividend policy

We recognize the passing on of profits to shareholders as an important management issue, and our basic policy is to issue dividends on a stable, continuous basis (twice a year, with the interim dividend and year-end dividend) while retaining profits internally as needed to strengthen the essential nature of the business and prepare for future expansion.
Regarding the fiscal year ending March 31, 2021, in accordance with the above policy, we plan on an annual dividend of 9 yen per share.

Trend in dividend and dividend yield

2016/3 2017/3 2018/3 2019/3 2020/3
Interim dividend per share 3 yen 3 yen 3 yen 4 yen 4.5 yen
Year-end dividend per share 3 yen 4 yen 4 yen 4.5 yen 4.5 yen
Annual dividend per share 6 yen 7 yen 8 yen 8.5 yen 9 yen
Dividend yield 1.7 % 1.9 % 1.8 % 3.0 % 2.8 %

Note: The forecast above is a projection by Mitani Sangyo based on information available at the time. Actual performance and the actual dividend may differ from the amount projected because of various factors in the future.