Central Glass : Notice of Dividend of Surplus and Reversal of General Reserve（135KB）

Published May 25, 2023 at 10:22 a.m. UTC

Source: MarketScreener

May 24, 2023

Central Glass Co., Ltd.

Note: This document is a translation of the Japanese original for reference purposes only. In case of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from or in connection with the translation.

Notice of Dividend of Surplus and Reversal of General Reserve

At a meeting of the Board of Directors held on May 24, Central Glass Co., Ltd. (hereinafter the Company) has resolved to pay dividends from retained earnings with a record date of March 31, 2023, and to reverse the general reserve as follows;

In accordance with Article 459-1 of the Companies Act, the Articles of Incorporation stipulate that dividends from retained earnings shall be paid by resolution of the Board of Directors.

1.Dividend of surplus

(1) Details of dividends

		Most recent dividend	Dividends paid in the
	Amount Decided	forecast	previous fiscal year
	(announced on September 20,	(fiscal year ended March

		2022)	31, 2022)

Record date	March 31, 2023	Same as the date stated	March 31, 2022
left


Dividend per share	77.50 yen	77.50 yen	37.50 yen

Total dividends	1,922 million yen	－	1,518 million yen

Effective date	June 8, 2023	－	June 8, 2022

Fund used for	Retained earnings	－	Retained earnings
dividends payment

(2) Reasons for the payment

The Company aims to maximize corporate value, and targets to build a capital structure that emphasizes the optimization of investment and financing. In distributing profits, the Company's basic policy is to pay stable dividends commensurate with business performance from a long-term perspective, while taking into account the need to increase internal reserves for future business development, such as R&D and capital investment, in order to strengthen the Company's corporate structure.

Based on this policy, the Company decided to pay a year-end dividend of 77.50 yen per share as of March 31, 2023.

(Reference) Annual Ordinary Dividend Breakdown

				Dividend per share

Record Date		Second quarter	Year-end	Total

Fiscal year Ended March 31, 2022		37.50 yen	37.50 yen	75.00 yen

Fiscal year Ended March 31, 2023		37.50 yen	77.50 yen	115.00 yen

Forecast for the year ending March 31,		57.50 yen	57.50 yen	115.00 yen
2024


2.Reversal of general reserve
(1) Items and amounts of retained surplus to be decreased
General reserve	22,000,000,000 yen
(2) Items and amounts of surplus to be increased
Retained earnings brought forward	22,000,000,000 yen
(3) Purpose of implementation

In order to respond to the cancellation of treasury stock and to enable the realization of a continuous dividend policy.

Effective date May 24, 2023
Future Outlook

This matter has no impact on our business results.

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