Basic Policy on Capital Management
The Nichirei Corporation aims to achieve sustainable growth and raise medium-to long-term corporate value while helping communities deal with issues they face. Furthermore, we allocate corporate resources to initiatives making communities more sustainable in addition to proactively investing to stimulate growth and strengthen our business foundations.
To ensure that we can efficiently and stably procure the funds necessary for achieving these goals, we will maintain a balanced capital structure while carefully considering our capital efficiency, growth and financial health.
Capital from operating cash flow and asset liquidation will be used for investments to maintain and enhance enterprise value, and for shareholder returns through dividends and stock buy-backs.
Basic Policy on Shareholder Return
The basic policy for shareholder returns is to maintain a stable dividend based on the consolidated dividend on equity (DOE) ratio, while considering each fiscal year’s consolidated business results and free cash flow, and to conduct flexible stock buy-backs in consideration of capital efficiency and the market environment.
・Maintain a return on equity (ROE) ratio of 10% or higher.
・Provide a dividend with a target DOE of 3.0%.
Trend in Dividend Payments
- The figure for FY 2016(indicated as"16/3") includes the 70th anniversary commemorative dividend of 4 yen.