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Dividend / Shareholder Returns

Dividends (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 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

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

  2021/3 2022/3 2023/3※ 2024/3 2025/3 2026/3
(forecast)
Interm (Yen) 10 18 24 25 35 45
Year-end (Yen) 41 42 45 50 60 70
Total (Yen) 51 60 69 75 95 115
Consolidated Payout Ratio 59.4% 70.7% 45.9% 33.0% 34.5% 40.6%

* 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.

Shareholder Benefit Program (March 31, 2025)

ESPEC does not offer such a program at this time.