Translation - Original text in Japanese
April 28, 2023
Company name: CHORI CO., LTD.
Representative: Kazuo Sakihama, President, CEO & COO (Code: 8014, Tokyo (Prime Market))
Inquiries: Yasutaka Kawamura
Manager, Corporate Management Dept.
(+81-3-5781-6201)
Notice Regarding Dividend of Surplus for the Year Ended March 31, 2023 and Changes in Dividend Policy from the Year Ending March 31, 2024
CHORI CO., LTD. ("the Company") hereby announces that it resolved to pay a dividend of surplus with March 31, 2023 as the date of record and change its dividend policy from the year ending March 31, 2024, following passage of a resolution by the Board of Directors at a meeting held on April 28, 2023, as outlined below.
1. Dividend of Surplus
- Details of dividends
Resolved | Latest forecast | Dividend paid for the year | |
(Announced on January 27, 2023) | ended March 31, 2022 | ||
Date of record | March 31, 2023 | March 31, 2023 | March 31, 2022 |
Dividend per share | 55.00 yen | 55.00 yen | 42.00 yen |
Total dividend | 1,353 million yen | 1,033 million yen | |
Effective date | June 1, 2023 | June 1, 2022 | |
Dividend resource | Retained earnings | Retained earnings | |
- Reason
The Company believes that returning profits to shareholders is an important management priority. Accordingly, the Company has adopted a basic policy of distributing dividends twice a year, specifically an interim and a year-end dividend. From the standpoint of expeditious return of profits and ensuring stable management and financial affairs, the Company implements performance-based dividends according to the level of net profit attributable to owners of parent. The amount of dividends is set at a level consistent with a consolidated dividend payout ratio of at least 30% (annually) based on net profit attributable to owners of parent. In determining the amount of dividends, the Company considers a comprehensive range of factors including the management environment, while remaining mindful of the importance of securing the investment funds needed to develop business.
Under this policy, the Company has decided to pay a year-end dividend of 55 yen per share, taking into account the full-year consolidated business performance for the year ended March 31, 2023. Consequently, combined with the interim dividend of 50 yen per share, the annual dividend will be 105 yen per share.
(Reference) Details of total annual dividend payments | ||||||
Dividend per share | Consolidated | |||||
dividend | ||||||
Date of record | 2nd quarter-end | Year-end | Annual | |||
payout ratio | ||||||
Payment for the year ended March 31, 2023 | 50.00 | yen | 55.00 | yen | 105.00 yen | 31.8% |
Payment for the year ended March 31, 2022 | 42.00 | yen | 42.00 | yen | 84.00 yen | 30.3% |
2. Change in Dividend Policy from the Year Ending March 31, 2024
-
Reason for change in dividend policy
The Company believes that returning profits to shareholders is an important management priority and implements performance-based dividends according to the level of net profit attributable to owners of parent. While maintaining this basic policy, from the standpoint of emphasizing continuous and stable return of profits to shareholders, the Company will change its dividend policy to a dividend on equity (DOE) ratio of at least 3.5% as a new standard, in addition to a consolidated dividend payout ratio of at least 30% (annually) based on net profit attributable to owners of parent. - Dividend policy following the change
The amount of dividends is set at a level consistent with a consolidated dividend payout ratio of 30% (annually) based on net profit attributable to owners of parent, and a dividend on equity (DOE) ratio of at least 3.5%. In determining the amount of dividends, the Company considers a comprehensive range of factors including the management environment, while remaining mindful of the importance of securing the investment funds needed to develop business. - Effective date
Applicable for dividends for the fiscal year ending March 31, 2024 (including the interim dividend).
(Reference) Dividend forecast
Dividend per share | Consolidated | |||
dividend | ||||
Date of record | 2nd quarter-end | Year-end | Annual | |
payout ratio | ||||
Fiscal year ending March 31, 2024 (Forecast) | 58.00 yen | 58.00 yen | 116.00 yen | 30.4% |
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Chori Co. Ltd. published this content on 07 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 June 2023 02:03:01 UTC.