Outline of Results Briefing held on May 12, 2016

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Our basic policy is to target a payout ratio of 30%, with a minimum annual dividend of ¥30/share. FY2016/3 saw net income of ¥19.9 billion, so we have set an annual dividend of ¥48/share based on a payout ratio of 30%. We have already paid an interim dividend of ¥10, meaning that our year-end dividend will be ¥38/share. We have no intention of changing our basic policy in FY2017/3 or beyond. However, we will need to invest in new development for VR/AR and the development of new content, so we intend to take a comprehensive view of the balance between investment and shareholder return in determining our dividends going forward.

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That concludes my presentation.

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