Central Glass : Notice of Dividend of Surplus and Reversal of General Reserve（135KB）
May 25, 2023 at 06:23 am EDT
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May 24, 2023
Central Glass Co., Ltd.
Note: This document is a translation of the Japanese original for reference purposes only. In case of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from or in connection with the translation.
Notice of Dividend of Surplus and Reversal of General Reserve
At a meeting of the Board of Directors held on May 24, Central Glass Co., Ltd. (hereinafter the Company) has resolved to pay dividends from retained earnings with a record date of March 31, 2023, and to reverse the general reserve as follows;
In accordance with Article 459-1 of the Companies Act, the Articles of Incorporation stipulate that dividends from retained earnings shall be paid by resolution of the Board of Directors.
1.Dividend of surplus
(1) Details of dividends
Most recent dividend
Dividends paid in the
Amount Decided
forecast
previous fiscal year
(announced on September 20,
(fiscal year ended March
2022)
31, 2022)
Record date
March 31, 2023
Same as the date stated
March 31, 2022
left
Dividend per share
77.50 yen
77.50 yen
37.50 yen
Total dividends
1,922 million yen
－
1,518 million yen
Effective date
June 8, 2023
－
June 8, 2022
Fund used for
Retained earnings
－
Retained earnings
dividends payment
(2) Reasons for the payment
The Company aims to maximize corporate value, and targets to build a capital structure that emphasizes the optimization of investment and financing. In distributing profits, the Company's basic policy is to pay stable dividends commensurate with business performance from a long-term perspective, while taking into account the need to increase internal reserves for future business development, such as R&D and capital investment, in order to strengthen the Company's corporate structure.
Based on this policy, the Company decided to pay a year-end dividend of 77.50 yen per share as of March 31, 2023.
(Reference) Annual Ordinary Dividend Breakdown
Dividend per share
Record Date
Second quarter
Year-end
Total
Fiscal year Ended March 31, 2022
37.50 yen
37.50 yen
75.00 yen
Fiscal year Ended March 31, 2023
37.50 yen
77.50 yen
115.00 yen
Forecast for the year ending March 31,
57.50 yen
57.50 yen
115.00 yen
2024
2.Reversal of general reserve
(1) Items and amounts of retained surplus to be decreased
General reserve
22,000,000,000 yen
(2) Items and amounts of surplus to be increased
Retained earnings brought forward
22,000,000,000 yen
(3) Purpose of implementation
In order to respond to the cancellation of treasury stock and to enable the realization of a continuous dividend policy.
Effective date May 24, 2023
Future Outlook
This matter has no impact on our business results.
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Central Glass Co. Ltd. published this content on 24 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2023 10:22:00 UTC.
Central Glass Co.,Ltd. is a Japan-based company mainly engaged in manufacturing and sales of glass products and chemical products. The Company operates in two segments. The Glass Products segment is engaged in manufacturing and sales of building glass, automobile glass and glass for electronic materials. The Chemical Products segment is engaged in manufacturing and sales of chemicals, fine chemicals, fertilizers, glass fibers. The Company mainly operates in Japan, North Americas and other areas.
CENTRAL GLASS CO., LTD. 
