Change in Dividends Per Share
(Including Special Commemorative Dividend)

2017/03 2018/03 2019/03 2020/03 2021/03 2022/03 2023/03
Year-end Dividend (Yen) 13.0 16.0 18.0 20.0 21.0 37.0 38.0


Note: The year-end dividend for FY2016 include a commemorative dividend of ¥1.00.

Share Buybacks

Period in which
buybacks were made		 Number of
shares
(thousands)		 Aggregate purchase price of
shares (Millions of Yen)		 Method of buybacks
2009/3 From May 16, 2008
through May 26, 2008		 1,500 1,113 Purchased through the
Tokyo Stock Exchange
From Nov. 14, 2008
through Nov. 20, 2008		 2,000 1,054 Purchased through the
Tokyo Stock Exchange
2010/3 From May 15, 2009
through Jun. 3, 2009		 2,500 1,366 Purchased through the
Tokyo Stock Exchange
2011/3 From May 14, 2010
through Jun. 1, 2010		 2,500 1,178 Purchased through the
Tokyo Stock Exchange
2012/3 From Nov. 10, 2011
through Dec. 5, 2011		 2,200 1,070 Purchased through the
Tokyo Stock Exchange
2013/3 From Aug. 2, 2012
through Aug. 21, 2012		 2,800 1,565 Purchased through the
Tokyo Stock Exchange
2014/3 From Nov. 7, 2013
through Nov. 27, 2013		 1,500 1,471 Purchased through the
Tokyo Stock Exchange
2018/3 From Nov. 10, 2017
through Nov. 24, 2017		 1,592 2,000 Purchased through the
Tokyo Stock Exchange
2020/3 From Nov. 18, 2019
through Jan. 9, 2020		 1,925 2,000 Purchased through the
Tokyo Stock Exchange

Financial policy (Medium-Term Management Plan for 2025)

The Takara Group's financial policy is to create cashflow by increasing the efficiency of assets and through the sale of strategic shareholdings while enhancing global cash management, for the purpose of accelerating investments in growth and high-priority fields based on the maintenance of sound financial fundamentals. In addition, The Takara Group expand monitoring from the perspective of investment efficiency. The Company’s specific policy on shareholder returns is to provide shareholder returns commensurate with profit levels (payout ratio of about 35%).