Earnings Distributions (dividends and others)

Basic Policy for Earnings Distributions

Distributing earnings to shareholders is one of the highest priorities of the Paramount Bed Group. Since we became a publicly owned company, we have raised the dividend per share to reflect growth in earnings, conducted stock splits, paid commemorative dividends and used other methods to distribute earnings.
We plan to continue to distribute earnings to shareholders in a manner that reflects earnings. Dividend decisions will incorporate all applicable factors, including the need to increase financial soundness and other aspects of operations in order to continue growing and respond to rapid changes in our markets.
We will work to achieve a dividend payout ratio of 30% as the benchmark of our distribution of earnings to shareholders.

Dividend per Share

(yen)

2015/3 2016/3 2017/3 2018/3 2019/3(forecast)
Interim 25.0 35.0 40.0 45.0 50.0
Year-end 35.0 35.0 50.0 45.0 50.0
Total 60.0 70.0 90.0 90.0 100.0
Payout ratio (%) 24.6 31.6 28.1 30.3 36.7

* The FY2015/3 year-end dividend and the FY2017/3 year-end dividend includes a commemorative dividend of 10 yen.
* The forecast for the FY2019/3 dividends and dividend payout ratio are as of May 9, 2018, which is when FY2018/3 results of operations were announced.