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Dividend / Shareholder Returns

Shareholder Return (As of June 20 , 2025)

The Company recognizes that the return of profits to shareholders is an important management priority, and that constantly raising enterprise value is the key element in ensuring improved shareholder returns. Accordingly, the Company returns profits to shareholders. Taking the opportunity of the development of the medium-term management plan “Progressive Plus 2027” (FY 2025 to FY 2027), the Company has decided to further clarify its policy to enhance returns to shareholders, including not only dividends but also purchase of treasury shares. The name of the policy will be changed from the Basic Policy on Dividends to the Shareholder Return Policy.

Shareholder Return Policy（Announced on May 15, 2025）

The Company recognizes that the return of profits to shareholders is an important management priority, and that constantly raising enterprise value is the key element in ensuring improved shareholder returns. Accordingly, the Company's basic policy is to determine return of profits to shareholders in consideration of continuity and the consolidated dividend payout ratio. Specifically, we have decided on a consolidated dividend payout ratio of 40% or more and will be purchasing treasury shares in a flexible manner.
During the period of the medium-term management plan “Progressive Plus 2027” (FY 2025 to FY 2027), we will ensure a total return ratio of 50% or more, cumulative over three years, and will not reduce dividends.

Dividend Per Share and Consolidated Payout Ratio

　 Annual dividend（Yen） Interim（Yen） Year-end（Yen） Consolidated Payout Ratio（％）
2026/3（forecast） 115 45 70 40.6
2025/3 95 35 60 34.5
2024/3 75 25 50 33.0
2023/3 69 24 45 45.9
2022/3 60 18 42 70.7
2021/3 51 10 41 59.4
2020/3 68 22 46 55.2
2019/3 68 22 46 36.2
2018/3 58 20 38 40.1
2017/3 36 12 24 36.8
  • *1. Includes a dividend of ¥2 (interim dividend of ¥1 and year-end dividend of ¥1) to commemorate the 70th anniversary of our foundation in FY2017 (2018/3).
  • *2. FY2018 (2019/3) was an irregular 15-month fiscal period for overseas consolidated subsidiaries. The dividend payout ratio for a 12-month period is 39% (reference).
  • *3. Includes a dividend of ¥4 (interim dividend of ¥2 and year-end dividend of ¥2) to commemorate the 75th anniversary of our foundation in FY2022 (2023/3).

Share Repurchase

Date of Share Buyback Method of Repurchase Total number of shares acquired Acquisition costs Material
November 14, 2022 Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) 567,600 shares 1,105 million yen Notice Concerning Results and Completion of Acquisition of Own Shares
Through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3)
June 9, 2021 Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) 500,000 shares 1,066 million yen Notice Concerning Results and Completion of Acquisition of Own Shares
Through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3)

Dividend per Share and Dividend Payout Ratio/Total Return Ratio

Graph: Dividend per Share and Dividend Payout Ratio/Total Return Ratio

  • *1. Includes a dividend of ¥2 (interim dividend of ¥1 and year-end dividend of ¥1) to commemorate the 70th anniversary of our foundation in FY2017 (2018/3).
  • *2. FY2018 (2019/3) was an irregular 15-month fiscal period for overseas consolidated subsidiaries. The dividend payout ratio for a 12-month period is 39% (reference).
  • *3. Includes a dividend of ¥4 (interim dividend of ¥2 and year-end dividend of ¥2) to commemorate the 75th anniversary of our foundation in FY2022 (2023/3).

Shareholder Benefit Program (as of March 31, 2025)

ESPEC does not offer such a program at this time.