Shareholders Return

Under our Medium-Term Management Program “IGNITION 2028,” we maintain stable and sustainable dividends as a base, while pursuing progressive dividends supported by profit growth. Furthermore, we aim for a DOE of 3% or higher in FY 2028.
We implement flexible share buybacks, with due consideration to both strengthening our financial position and optimizing our capital structure.
Policy on Shareholders Return

Dividends

J-GAAP

Yen, %

(FY) 2015 2016 2017 2018 2019
Interim 6.0 7.0 7.0 8.0 8.0
Year-end 7.0 7.0 8.0 8.0 8.0
Total 13.0 14.0 15.0 16.0 16.0
Net Income per Share 56.38 62.17 59.97 49.61 34.83
Payout Ratio 23.1% 22.5% 25.0% 32.3% 45.9%

IFRS

Yen, %

(FY) 2020 2021 2022 2023 2024 2025
Interim 4.5 8.0 9.0 9.0 9.0 10.0
Year-end 4.5 8.0 9.0 9.0 9.0 10.0
(plan)
Total 9.0 16.0 18.0 18.0 18.0 20.0
(plan)
Earnings per Share 28.61 52.63 45.49 13.67 48.93 54.16
(estimate)
Payout Ratio 31.5% 30.4% 39.6% 132% 37% 37%
(estimate)
  • * Toray Group has applied the International Financial Reporting Standards (IFRS) from the first quarter of the fiscal year ended March 31, 2021.
    The financial figures for the fiscal year ended March 31, 2020 are presented in accordance with IFRS in addition to Japanese generally accepted accounting principles.