Dividends

Dividends Paid per Share / Payout Ratio

(as of June 21, 2023)

Matters related to the year-end dividends

TOA positions enhancing returns of profits to shareholders as one of the management priorities.

For the distribution of earnings, while targeting sustainable growth and having a policy of increasing investment in businesses as a basis, TOA endeavors to provide more stable dividends with fiscal discipline. We adopt a basic policy of maintaining an annual dividend of 40 yen (interim dividend 20 yen and year-end dividend 20 yen) taking our business performance into account and make a decision targeting 45% of consolidated dividend payout ratio.

Based on this policy, we propose payment of a year-end dividend of 20 yen per share for the fiscal year ended March 31, 2023.

1. Type of dividend property
   Cash
2. Matters related to the allotment of dividend property to shareholders and the total amount
   20 yen per share of common stock of TOA
   Total amount: 643,320,040 yen
   We paid 20 yen per share as an interim dividend; therefore the total annual dividend for the fiscal year ended March 31, 2023, including the interim dividend, will be 40 yen per share.
3. Effective date of distribution of retained earnings
   June 22, 2023

Dividend Policy

The Company views an increase in returns of profits to shareholders as an important managerial task.

Regarding the distribution of profits, we try to improve stable dividends in compliance with the financial rules while aiming for sustainable growth and investing more in businesses as a basic policy.
We plan to maintain an annual dividend of ¥40 per share (interim dividend of ¥20 and year-end dividend of ¥20) and, based on business performance, determine the amount by taking the consolidated dividend payout ratio of 45% as a guide.

For the fiscal year ended March 31, 2023, we plan to pay an annual dividend of ¥40 per share (stable annual dividend of ¥40), which includes the interim dividend of ¥20 per share already paid.
We also aim to maintain sufficient internal reserves, so as to secure a stable management foundation in the long term, and to raise the competitiveness of the Company through actively carrying out R&D investments. By endeavoring to strengthen our financial structure, we aim to increase our corporate value.

The decision-making body regarding dividends of surplus at the Company is the Board of Directors for interim dividends and the Ordinary General Shareholders’ Meeting for year-end dividends. The Articles of Incorporation allow for interim dividends according to a resolution by the Board of Directors with September 30 of each year as the record date.

Dividends of surplus with a record date in the current fiscal year are as follows.

Shareholder Benefit Program

The Company has not introduced a shareholder benefit program.