Basic Dividend Policy

The basic dividend policy of the Company is to pay out dividends based upon the followings subject to business results and financial conditions of the Company including the optimum level of capital to support the margin trading services and strategic investment opportunities:

  • Dividends Payout Ratio: 60% and above, and
  • Dividends on Equity (DOE): 8% and above

The Company sets out the policy on DOE to payout cash dividend which is equivalent to the cost of equity capital (currently 8%) and the policy on dividends payout ratio to secure performance-linked factor of dividend payment in light of the situation that business results of securities brokerage companies depend on the market conditions considerably.

The Company regards ROE as an important benchmark with respect to creation of shareholders’ value. Therefore, the Company aims to attain a high ROE level that exceeds the cost of equity capital (currently 8%) in the medium-to-long term.

Dividend information

Dividend per share


Dividend payout ratio

(Payout ratio for the ordinary dividend)

Dividend on equity

Dividend payment for the past fiscal years

Dividend per share (JPY) Dividend
payout ratio
Interim Year-end Annual
FY2021 20.00 20.00 40.00 89.9% 14.5% 13.1%
FY2020 20.00 20.00 40.00 100.0% 12.9% 12.9%
FY2019 22.50 22.50 44.50 188.4% 7.0% 13.1%
FY2018 19 26
120.8% 9.8% 11.8%
FY2017 17 27 44 87.5% 13.4% 11.7%
  • The Company paid 84 yen per share for FY2018 including ordinary dividend of 45 yen and commemorative dividend of 39 yen per share.
  • Payout ratio and DOE are calculated based on the ordinary dividend.

Dividends since FY2002(42KB)