Shareholder Returns and Dividends
Dividend Policy
We consider the return of profits to shareholders to be an important goal for our management along with increasing medium-to long-term corporate value. To increase corporate value, we will make capital investments efficiently to further raise the sophistication of communication networks, such as by expanding 5G SA (Standalone) areas, as well as continuing investments in AI-related businesses and other new businesses. Our basic policy is to distribute surplus twice a year as interim and year-end dividends, and to pay attention to the stability and sustainability of dividends while considering factors such as performance trends, financial condition, and cash flow position on a comprehensive basis.
Under this policy, we aim to continuously increase dividend per share for common shares in line with profit growth during the Medium-term Management Plan from the fiscal year ending March 31, 2027 to the fiscal year ending March 31, 2031.
For the fiscal year ending March 31, 2027, we plan to pay an annual dividend per share for common shares of ¥8.80 (comprising interim and year-end dividends of ¥4.40 and ¥4.40, respectively), and a prescribed amount of dividend for the Series 1 Bond-Type Class Shares and the Series 2 Bond-Type Class Shares.
Dividend History
Common Shares
| Dividend per Share (JPY) | Payout Ratio (Consolidated) (%) | |||
|---|---|---|---|---|
| Interim | Year-end | |||
| Fiscal year ending March 31, 2027 | 8.80 (Forecast) |
4.40 (Forecast) |
4.40 (Forecast) |
76.2 (Forecast) |
| Fiscal year ended March 31, 2026 | 8.60 | 4.30 | 4.30 | 75.8 |
| Fiscal year ended March 31, 2025 | 8.60 | 4.30 | 4.30 | 78.3 |
| Fiscal year ended March 31, 2024 | 8.60 | 4.30 | 4.30 | 83.4 |
| Fiscal year ended March 31, 2023 | 8.60 | 4.30 | 4.30 | 76.4 |
| Fiscal year ended March 31, 2022 | 8.60 | 4.30 | 4.30 | 78.2 |
| Fiscal year ended March 31, 2021 | 8.60 | 4.30 | 4.30 | 82.8 |
| Fiscal year ended March 31, 2020 | 8.50 | 4.25 | 4.25 | 85.6 |
| Fiscal year ended March 31, 2019 | - | - | 3.75 | 83.3*1 |
- [Notes]
-
- *1Converted to annual ratio
- *The Company has conducted a stock split at a ratio of 10 shares per common share, with the effective date being October 1, 2024. The dividend per share prior to October 1, 2024 has been adjusted to reflect this stock split.
- *1
Bond-Type Class Shares
Bond-Type Class Shares are “shares”, a type of equity in accordance with the Companies Act while also possessing characteristics similar to “bonds”. They entitle the holder to receive a fixed dividend*1 for approximately 5 years from the date of issuance.
Refer to Bond-Type Class Shares for details.
| Dividend per Share (JPY) | ||||
|---|---|---|---|---|
| Interim | Year-end | |||
| Series 1 Bond-Type Class Shares | Fiscal year ending March 31, 2027 | 100.00 (Forecast) |
50.00 (Forecast) |
50.00 (Forecast) |
| Fiscal year ended March 31, 2026 | 100.00 | 50.00 | 50.00 | |
| Fiscal year ended March 31, 2025 | 100.00 | 50.00 | 50.00 | |
| Fiscal year ended March 31, 2024 | 41.53*2 | - | 41.53*2 | |
| Series 2 Bond-Type Class Shares | Fiscal year ending March 31, 2027 | 256.00 (Forecast) |
128.00 (Forecast) |
128.00 (Forecast) |
| Fiscal year ended March 31, 2026 | 256.00 | 128.00 | 128.00 | |
| Fiscal year ended March 31, 2025 | 126.24*3 | - | 126.24*3 | |
- [Notes]
-
- *1(Regarding the annual dividend rate of the Series 1 Bond-Type Class Shares) If the record date falls in a fiscal year ending on or before March 31, 2029: 2.500% per annum. If the record date falls in a fiscal year ending on or after April 1, 2029: The interest rate of One-Year Japanese government bonds (JGBs) as of the date two business days before the last day of the fiscal year immediately before the fiscal year in which the record date falls plus 3.182%.
(Regarding the annual dividend rate of the Series 2 Bond-Type Class Shares) If the record date falls in a fiscal year ending on or before March 31, 2030: 3.200% per annum. If the record date falls in a fiscal year ending between April 1, 2030 and March 31, 2050: The interest rate of One-Year Japanese government bonds (JGBs) as of the date two business days immediately before the last day of the fiscal year immediately before the fiscal year (the “Annual Rate Quotation Date”) in which the record date falls plus 2.960%. If the record date falls in a fiscal year ending on or after April 1, 2050: The interest rate of One-Year Japanese government bonds (JGBs) as of the Annual Rate Quotation Date with respect to the fiscal year in which the record date falls plus 3.710%. - *2Calculated based on actual day counts on a 366-day year basis
- *3Calculated based on actual day counts on a 365-day year basis
- *1
Share Buyback
| Period of Acquisition | Method of Acquisition | Total Number of Shares Acquired | Total Amount Paid for Acquisition |
|---|---|---|---|
| May 11, 2023 to February 16, 2024 |
Market purchase on the Tokyo Stock Exchange, Inc. through a discretionary investment account trade to a securities company | 56,179,100 | JPY 100.0 billion |
| October 1, 2020 to March 5, 2021 |
Market purchase on the Tokyo Stock Exchange, Inc. through a discretionary investment account trade to a securities company | 78,461,400 | JPY 100.0 billion |
| August 6, 2019 to December 5, 2019 |
Open market purchase | 46,000,000 | JPY 68.7 billion |
Press Releases
| February 19, 2024 | Notice Concerning Status and Conclusion of Share Buyback Program |
|---|---|
| March 8, 2021 | Notice Concerning Status of Share Buyback Program |
| December 6, 2019 | Notice Concerning Status of Share Buyback Program |
Shareholder Benefits Program
We announced that it has established a shareholder benefits program for common shares, as described below.