Dividend Policy

Daio Paper (“the Company”) places top priority on the return of profit to shareholders and sets a basic policy to continue to pay stable dividends, while taking into consideration factors such as the status of business and the sufficiency of retained earnings. The Company’s basic policy is to pay dividends twice a year, an interim dividend and a year-end dividend. The decision-making bodies for the distribution of retained earnings are the General Meeting of Shareholders for the year-end dividend and the Board of Directors for the interim dividend. For the fiscal year ended March 31, 2021, we paid an annual dividend of ¥17.00 per share, which includes an interim dividend of ¥7.00, in line with the policy described above. Retained earnings are used effectively for upfront investments in growth areas, capital expenditures to enhance future corporate competitiveness, and the improvement of our financial position, to further strengthen our corporate foundation. In its articles of incorporation, the Company stipulates that “the Company may, by a resolution of the Board of Directors, pay interim dividends to the shareholders or registered share pledgees whose names appear or are recorded as such on the register of shareholders as at the closing thereof on the 30th day of September each year.”

Resolution

Total Amount of Dividends (millions of yen)Cash Dividends per Share (yen)
Board of Directors’ Meeting held on November 11, 20201,1647.00
General Shareholders’ Meeting held on June 29, 20211,62910.00
(FY)2016/32017/32018/32019/32020/32021/32022/3(Forecast)
Interim4.005.005.005.005.007.0010.00
Fiscal year-end6.505.505.505.508.5010.0010.00
Total10.5010.5010.5010.5013.5017.0020.00

Treasury stock

Class of shares, etc.

Acquisition of common stock under Article 155(vii) of the Companies Act

  1. Status of acquisition based on resolution approved at the General Meeting of Shareholders Not applicable.
  2. Status of acquisition based on resolution approved by the Board of Directors Not applicable.
  3. Contents of acquisition of treasury shares not based on a resolution approved at the General Meeting of Shareholders or by the Board of Directors
    ClassificationNumber of Shares (shares)Total Amount of Acquisition Price (yen)
    Treasury stock acquired during the fiscal year ended March 31, 2021389659,238
    Treasury stock acquired between April 1, 2021 and May 31, 20215093,250
    ※ The number of treasury stocks acquired between April 1, 2021 and May 31, 2021 does not include shares less than one full unit purchased between June 1, 2021 and the date of submission of the annual securities report (June 29, 2021).
  4. Status of disposition and holding of acquired treasury stocks

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    ClassificationFiscal year ended March 31, 2021April 1, 2021 to May 31, 2021
    Number of Shares (shares)Total Amount of Disposal Price (yen)Number of Shares (shares)Total Amount of Disposal Price (yen)
    Acquired treasury stock for which subscribers were solicited
    Acquired treasury stock that was retired
    Acquired treasury stock that was transferred in association with merger, share exchange or corporate split
     Other (disposal of treasury stock through third-party allotment)1,232,2001,080,404,920
    Number of treasury stocks held1,383,1901,383,240
    ※ The number of treasury stocks held between April 1, 2021 and May 31, 2021 does not include shares less than one full unit purchased between June 1, 2021 and the date of submission of the annual securities report (June 29, 2021).
    ※ Other (disposal of treasury stock through third-party allotment) during the fiscal year ended March 31, 2021 is the disposal of treasury stock by allotting the Company’s stocks to Sumitomo Mitsui Trust Bank, Limited (Re-trustee: Japan Trustee Services Bank, Ltd. (trust account)) carried out on March 29, 2021 following expansion of the Scope of the Employee Share Grant System to Employees and introduction of Trust-Type Employee Stock Ownership Plan (ESOP).
    ※ The number of treasury stocks held does not include the stocks held by trust bank in relation to the trusts for delivery of stocks.
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