Shareholder return strategy of Futsho Trading Co., Ltd. (6257)

From the fiscal year ending March 2024, the dividend policy has been changed. Previously, the basic policy was a stable dividend, and we have continued to pay a dividend of 50.0 yen per share while comprehensively considering management performance, dividend payout ratio, etc. However, as mentioned above, we have set 50.0 yen (minimum) stable dividend as an earnings-linked part, targeting a consolidated dividend payout ratio of 30% or more. As a result, the dividend per share for the fiscal year ending March 2024 is set at 55.0 yen (31.5% dividend payout ratio), an increase of 5.0 yen from the previous year, and we have implemented a dividend increase for the 11th consecutive period as a regular dividend. For the fiscal year ending March 2025, we plan to offer the same amount of dividend as the previous year, 55.0 yen (31.1% dividend payout ratio), but if the dividend payout ratio falls below 30%, a dividend increase can be expected.

In addition to strengthening dividends as a measure against stock prices, we also believe that introducing a shareholder benefits system is effective. SANKYO and Heiwa, in the same industry, have introduced a shareholder benefits system, but our company has not. For example, if we give an original QUO card featuring a popular character from the "Toaru" series, it would increase the number of individual shareholders, centered on fixed fan groups, and would have a certain impact on the stock price. This is considered as a future study subject.

(Written by FISCO guest analyst, Jo Sato)