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Print
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Let’s next look at the Publication segment. As print media sales decline, we are focusing on making more content available on apps and as e-books. The segment now generates somewhere around 25% of its sales in digital formats. The “MANGA UP!” and “Gangan pixiv” platforms we launched in FY2018/3 are performing well, and we will leverage them to make further strides toward digitization.
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The Merchandising segment saw net sales rise, in part on the back of a variety of events commemorating the 30th anniversaries of DRAGON QUEST in FY2017/3 and FINAL FANTASY in FY2018/3, respectively. Operating income fell, however, due partially to a rise in advertising costs. I note that FY2018/3 also saw the opening of our third Square Enix Cafe, this time in Shanghai.
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As regards to shareholders return, we will maintain our consolidated payout ratio of 30%. Since net income totaled ¥25.8 billion in FY2018/3, we will pay a year-end dividend per share of ¥55, which combined with our interim dividend of ¥10, brings our annual dividend per share to ¥65.
