TOA positions enhancing returns of profits to shareholders as one of the management priorities. Having a policy of providing stable dividends as a basis, and taking our business performance into account, we endeavor to provide returns to shareholders.
With respect to distribution of retained earnings, we adopt a basic policy of maintaining an annual dividend of 20 yen, and aim for a consolidated dividend payout ratio of 35% based on our business performance. The amount of dividends paid will also be determined by considering the overall balance with our internal reserves, so as to enable sustainable growth of TOA.
Based on this policy, we propose payment of a year-end dividend of 10 yen per share for the fiscal year ended March 31, 2022.
The Company views an increase of returns of profits to shareholders as an important managerial task.
Regarding the distribution of profits, in addition to our basic policy of providing stable dividends, we endeavor to provide returns to shareholders by taking our business performance into consideration. We also aim to maintain sufficient internal reserves, so as to secure a stable management foundation in the long term, and to raise the competitiveness of the Company through actively carrying out R&D investments. By endeavoring to strengthen our financial structure, we aim to increase our corporate value.
The decision-making body regarding dividends of surplus at the Company is the Board of Directors for interim dividends and the Ordinary General Shareholders’ Meeting for year-end dividends. The Articles of Incorporation allow for interim dividends according to a resolution by the Board of Directors with September 30 of each year as the record date.
Dividends of surplus with a record date in the current fiscal year are as follows.
| Resolution Date | Total Dividends (Million Yen) | Dividends Paid per Share (Yen) |
|---|---|---|
| November 2, 2021 Board of Directors resolution | 325 | 10 |
| June 23, 2022 Ordinary General Shareholders' Meeting resolution | 325 | 10 |
The Company has not introduced a shareholder benefit program.