Dividend policy

Concerning the distribution of the Company’s profits, we regard the return of profits to shareholders as an important management issue, and our basic policy is to maintain stable and steady dividends. 


On the other hand, we are considering investment going forward related to the strengthening of facilities associated with sales expansion in the cheese manufacturing business in Asia as well as investment related to initiatives to ensure supply sources, in order to realize medium- to long-term growth aimed at the enhancement of corporate value. Therefore, we intend to endeavor to strengthen our financial structure for these purposes. 


Accordingly, for the time being, we intend to increase the dividend payout ratio while maintaining the basic principle of "stable and increased dividends."


FY2018 FY2019 FY2020 FY2021 FY2022 FY2023
Dividend Per Share(yen) 1Q ------
2Q ---0.000.0024.00
3Q ------
FY-End 20.0022.0030.0032.0040.0024.00
Total 20.0022.0030.0032.0040.0048.00
Amount of Dividends(million yen) 195216296315395-
Payout Ratio(%)
Ratio of Total Amount of Dividends to Net Assets(%)

(Note) Lacto Japan split its common shares on May 1, 2019 in a 2-for-1 split. 
The share split has been treated as occurring at the beginning of the previous consolidated fiscal year, and net income per share has been calculated accordingly.