<h3 class="smt_head2">3 [Dividend Policy]</h3>
The Company's basic dividend policy is to provide shareholders with stable dividends that reflect business performance, while taking into account the strengthening of our management foundation and preparation for future business development.
Dividend decisions are made by resolution of the Board of Directors in accordance with Article 459 of the Companies Act.
Regarding the year-end dividend for the current fiscal year, the Board of Directors resolved on April 9, 2018 to set the dividend at 25 yen per share, in accordance with our basic dividend policy of providing stable dividends that reflect business performance. Since an interim dividend of 25 yen per share was paid during the interim period, the total annual dividend for this fiscal year is 50 yen per share.
Retained earnings will be effectively utilized for opening new stores, renovating existing stores, and information technology investments.
The Company's Articles of Incorporation provide for the ability to pay interim dividends.
The following shows dividend distributions with record dates in the current fiscal year:
<div class="tbld" style="margin-left:36pt;margin-right:0pt;margin-top:0pt;margin-bottom:0pt;">
<table cellspacing="0" cellpadding="0" style="border-collapse:collapse;border:solid 0pt #000000;width:315pt;">
<colgroup>
<col style="width:135.0pt;min-width:135.0pt;"/>
<col style="width:90.0pt;min-width:90.0pt;"/>
<col style="width:90.0pt;min-width:90.0pt;"/>
</colgroup>
<tr style="height:25.5pt">
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;">
Resolution Date
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;">
Total Dividend Amount (Millions of Yen)
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;">
Dividend per Share (Yen)
</td>
</tr>
<tr style="height:25.5pt">
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;">
October 10, 2017 Board of Directors
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;">
158
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;">
25.0
</td>
</tr>
<tr style="height:25.5pt">
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;">
April 9, 2018 Board of Directors
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;">
158
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;">
25.0
</td>
</tr>
</table>
 
</div>

Our basic policy is to continue providing stable dividends in line with our business performance, while also strengthening our management foundation and preparing for future business expansion. We pay dividends twice a year—at the interim and year-end periods—with dividend decisions made by the Board of Directors. We use retained earnings effectively for new store openings, store renovations, and information technology investments.

(E03073) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)