Shareholder Return
Basic Policy on Return to Shareholders
The Company regards the return of profits to shareholders as a key management decision and has adopted a basic policy of maintaining sufficient internal reserves required for business growth from a medium- to long-term management perspective, while continually paying a stable dividend in consideration of its consolidated financial results.
Through the medium-term management plan(2021-2023) , Balancing efforts to leverage growth investment, maintain financial health and strengthen return to shareholders,TIS will lay the groundwork for an increase in the total return ratio yardstick to 45%, from 40%, and constantly enrich dividends per share.
In so doing, the Company will raise shareholder engagement.
Promote growth investment
Take vigorous approach to investment in human resources as well as upfront investment, M&As and other growth investment opportunities. Respect investment discipline ROIC of 8%, with maximum investment of ¥100 billion over three years. Provide higher level of DX value and work to acquire new technology to achieve strategic domain ratio of 60% and operating margin of 11.6%.
Maintain financial health
Have cash and deposits equivalent to two months’ worth of monthly sales, mindful of maintaining A rating.
Strengthen return to shareholders
Boost total return ratio benchmark to 45%, from 40%, and then strive for stable increase in dividend per share.
The amount of treasury stock held by TIS will, in principle, be no more than 5% of total number of shares issued, and any shares exceeding this limit will be canceled
*Total return ratio: Ratio of dividends and treasury stock buybacks to income attributable to owners of the parent
For details on medium-term management plan, go to Medium-term Strategies .
Dividends
* The Company carried out a three-for-one common stock split on April 1, 2020.
The impact of said stock split is reflected in "Dividends per share" from fiscal 2021.
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Dividend per share | Payout ratio | Total return ratio |
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|---|---|---|---|---|---|
| (Interim) | (Year-end) | (Annual) | |||
| Fiscal 2024(plan) | 17 yen | 36 yen | 53 yen | 30.4% | 45.2% |
| Fiscal 2023 | 15 yen | 35 yen | 50 yen | 22.0% | 31.9% |
| Fiscal 2022 | 13 yen | 31 yen | 44 yen | 27.9% | 39.3% |
| Fiscal 2021 | 11 yen | 24 yen | 35 yen | 31.9% | 42.8% |
| Fiscal 2020 | 30 yen | 60 yen | 90 yen | 25.7% | 39.8% |
| Fiscal 2019 | 20 yen | 50 yen | 70 yen | 22.8% | 39.0% |
| Fiscal 2018 | 14 yen | 26 yen | 40 yen | 16.6% | 30.5% |
| Fiscal 2017 | 12 yen | 24 yen | 36 yen | 19.0% | 31.9% |
| Fiscal 2016 | 11 yen | 22 yen | 33 yen | 22.7% | 35.3% |
| Fiscal 2015 | 10 yen | 20 yen | 30 yen | 25.6% | 30.4% |
| Fiscal 2014 | 8 yen | 17 yen | 25 yen | 27.7% | 27.7% |
| Fiscal 2013 | 7 yen | 14 yen | 21 yen | 31.4% | 31.4% |
| Fiscal 2012 | - | 18 yen | 18 yen | 74.0% | 74.0% |
| Fiscal 2011 | 12 yen | 20 yen | 32 yen | 46.9% | 46.9% |
| Fiscal 2010 | 12 yen | 20 yen | 32 yen | 35.9% | 35.9% |
| Fiscal 2009 | - | 32 yen | 32 yen | 28.9% | 28.9% |
*No interim dividend was distributed in fiscal 2009 — the Company's first fiscal year — because the books for this inaugural term had not yet closed. The year-end dividend included a 5 yen per share bonus.
Share Repurchase
| Share repurchase period | Total number of shares acquired | Aggregate acquisition amount |
|---|---|---|
| May 10, 2023 - July 12, 2023 | 1,678,900 shares | 6,199,897,691 yen |
| May 12, 2022 - December 19, 2022 | 8,223,000 shares | 29,999,853,433 yen |
| May 13, 2021 - September 2, 2021 | 1,430,400 shares | 4,470,000,000 yen |
| May 13, 2020 - May 14, 2020 | 1,395,600 shares | 3,029,847,600 yen |
| May 14, 2019 - July 31, 2019 | 749,800 shares | 4,139,444,981 yen |
| May 11, 2018 - July 30, 2018 | 809,100 shares | 4,209,858,472 yen |
| May 11, 2017 - July 18, 2017 | 908,300 shares | 2,859,885,484 yen |
| May 11, 2016 - June 23, 2016 | 834,900 shares | 2,099,829,682 yen |
| October 30, 2015 - December 9, 2015 | 540,400 shares | 1,599,738,482 yen |
| May 12, 2014 - May 29, 2014 | 311,800 shares | 499,954,400 yen |
Cancellation of Treasury Stock
| Date of cancellation | Total number of shares to be cancelled |
Percentage of issued shares before the cancellation |
|---|---|---|
| February 28, 2023 | 6,715,483 shares | 2.7% |
| September 28, 2021 | 12,206,400 shares | 4.6% |
Preferential Treatment for Shareholders Program
The Company does not have a preferential treatment for shareholders program.