Dividends / Shareholder Returns

Dividend Policy

As for the policy for dividend and shareholder return, the Company strives to pay stable and continuous dividends, while taking into account the importance of making investments for medium-to long-term growth and ensuring sufficient internal reserves for the purpose of stabilizing our financial base. 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 stable financing, while sustaining the level of shareholders equity in compliance with regulatory requirements

Considering the current financial situation of the Company, and with the aim of ensuring its financial soundness, and under the policy of not increasing the total amount of interest-bearing debt, we have been actively pursuing various types of capital-based procurement to secure funds for investment in growth businesses without relying solely on interest-bearing debt and have also been working to reduce the balance of interest-bearing debt. Therefore, at the Board of Directors meeting held on February 14, 2024, we decided not to pay a dividend for the fiscal year ended December 31, 2023, considering that allocation of dividend resources to the reduction of interest-bearing debt will ultimately enhance shareholder value.

The timing of the resumption of dividends for the fiscal year ending December 31, 2024, and beyond, is currently undetermined. However, we strive to resume appropriate dividends in a timely and appropriate manner as we continue to work to return to profitability on a consolidated basis and reduce interest-bearing debt as soon as possible.


Fiscal Year Dividend per Share
Dividend per Share
(Adjusted for stock splits)
FY2023 0 0
FY2022 4.5 4.5
FY2021 4.5 4.5
FY2020 4.5 4.5
FY2019 4.5 4.5
FY2018 4.5 4.5
FY2017 4.5 4.5
FY2016 4.5 4.5
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
February 22, 2017-December 18, 2017 Purchased on the Tokyo Stock Exchange 81,991,300 99,999,911,300