Dividends Information and Shareholder Benefit Programs

Dividends Information

Dividend Policy

The Sanwa Group’s policy is to maintain a stable payout ratio and distribute profits in proportion to consolidated results while continuing to improve our corporate fundamentals, strengthen our management infrastructure, and implement management policies designed to increase corporate value. Specifically, we distribute profits with a target payout ratio of 40% of net income attributable to owners of the parent company. Our basic policy is to provide dividends from retained earnings twice a year – an interim dividend and a year-end dividend. The decision-making body for dividends shall be the Board of Directors for the interim dividend and the Board of Directors or General Shareholders’ Meeting for the year-end dividend.

Dividends and Payout Ratio

  Interim
(Yen)
Term End
(Yen)
Full Year
(Yen)
Payout Ratio
(%)
Net Income
per Share
(Yen)
Net Assets
per Share
(Yen)
88th Term
(Forecast)
22.00 23.00 45.00 39.8 113.16
87th Term 17.00 19.00 36.00 34.8 103.40 912.70
86th Term 17.00 17.00 34.00 35.3 96.21 814.10
85th Term 17.00 17.00 34.00 34.4 97.14 742.90
84th Term 16.00 16.00 32.00 34.4 92.95 713.50
83rd Term 15.00 15.00 30.00 37.1 80.97 667.09
82nd Term 12.00 13.00 25.00 33.5 74.61 607.16
81st Term 10.00 13.00※ 23.00 36.5 63.07 565.64

*The year-end dividend for the 81st Term includes a 60th anniversary commemorative dividend of ¥3 per share

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