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Dividends / Shareholder Returns

Dividend Policy

With the aim of providing shareholders with returns in excess of capital cost, while targeting to maximize the shareholder value, the Group makes management decisions with attention paid to the medium to long-term maintenance and enhancement of consolidated return on equity (ROE). The Company’s basic policy for shareholder return is to return profits with due consideration to ensuring sufficient internal reserves for the purpose of stabilizing investment funds and financial base with a view to the medium to long-term growth, and have been increasing or maintaining our dividend per share at a constant level. With respect to the required level of shareholders’ equity, the Company’s basic philosophy is as follows.
- Prepare a financial basis sound enough for the Company to capture growing business opportunities promptly and accurately
- Ensure sufficiency in comparison with risks associated with business activities and assets
- Maintain the level of financial rating required for conducting financial business, while sustaining the level of shareholders equity in compliance with regulatory requirements
Purchase of treasury stock is being considered as an option of financial measures for the purpose of flexibly addressing the changes in the business environment and contributing to the enhancement of shareholder value.
For the current fiscal year, the Company decided to pay dividend of ¥4.5 per share (¥4.5 per share for the previous fiscal year) at the Meeting of the Board of Directors held on February 12, 2016, in accordance with the aforementioned basic policy.
As a general rule of the Company, distribution of dividends of surplus is decided by the Board of Directors, and payment in principle is made once a year in the form of year-end dividend. Payment of dividends in accordance with the provisions of Article 459, Paragraph 1 of the Companies Act shall be subject to the flexible judgment allowing for the management circumstances and other factors.


Fiscal Year Dividend per Share
Dividend per Share
(Adjusted for stock splits)
FY2015 4.5 4.5
FY2014 4.5 4.5
FY2013 4.0
(incl. Commemorative dividend) 1.0
(incl. Commemorative dividend) 1.0
FY2012 3.0 3.0
FY2011 250 2.5
FY2010 200 2.0
FY2009 100 1.0
FY2008 100 * 1.0 *
FY2007 100 1.0
FY2006 50 0.5
FY2005 50 0.5
FY2004 250 0.25
FY2003 250 0.25
  • *Rakuten's dividend paid on March 30, 2009 (JPY 100 per share) has been paid out from capital surplus.

Share Repurchase

Period for Share Repurchase Method of Repurchase Number of Shares Repurchased (Shares) Total Cost of Shares Repurchased (JPY)
May 9, 2001 –
May 28, 2001
Purchased in the market 700 674,704,000
August 23, 2002 –
September 17, 2002
Purchased in the market through a trust bank 4,340 474,970,500
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