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.

Notice Regarding Revision of the Basic Dividend Policy(210KB)

Dividend information

Dividend per share


Dividend payout ratio

Dividend on equity

Notice Regarding Dividends for the Fiscal Year Ending March 2020(114KB)

Dividend payment for the past fiscal years

Dividend per share (JPY) Dividend
payout ratio
Interim Year-end Annual
FY2017 17 27 44 87.5% 13.4% 11.7%
FY2016 13 20 33 79.2% 11.4% 9.0%
FY2015 25 20 45 78.3% 16.2% 12.6%
FY2014 20 20 40 66.0% 17.8% 11.7%
FY2013 30 20 50 78.8% 19.6% 15.4%

Dividends since FY2002 (33KB)