May 13, 2025
To Whom It May Concern:
Company name: Mitsui Matsushima Holdings Co., Ltd.
Representative: Taishi Yoshioka, Representative Director and President (Stock Code: 1518, Prime Market of the Tokyo Stock Exchange and Fukuoka Stock Exchange)
Contact: Mikiko Abe, Senior Executive Officer in Charge of Business Planning Dept.
(Tel: +81-92-771-2171)
Notice of Shareholder Returns in FY2025
Mitsui Matsushima Holdings Co., Ltd. (the "Company") hereby announces that it resolved, at its Board of Directors meeting held on May 13, 2025, to implement the three measures listed below as part of its shareholder return and capital policies for FY2025. For details, please refer to the Attachment.
Increase in the annual dividend forecast to 230 yen (100 yen increase from the previous fiscal year) and the introduction of "progressive dividends"
Planned acquisition of own shares of 20 billion yen in total (subject to the upper limit of 3.5 million shares)
Stock split (1 share to be split into 5 shares)
Please refer also to the following other notices disclosed today: "Notice of Dividends from Surplus (Dividend Increase) and Dividend Forecast for the Next Fiscal Year (Dividend Increase)," "Notice of Establishment of Upper Limits and Other Terms of Acquisition of Own Shares," and "Notice of a Stock Split and the Related Partial Amendment of the Articles of Incorporation."
Progress of "Management Strategy 2024""Management Strategy 2024" announced in May 2024 is expected to be achieved early.
Going forward, we will strengthen shareholder return measures to achieve a PBR of 1x or above while continuing to promote a growth strategy focusing mainly on M&A.
Management Strategy 2024
Being strongly conscious of its targets of a PBR above 1 and an ROE of at least 8%, the Company will implement the following management strategy over the next three years:
Create, through M&A, a revenue structure that enables the Group to
1 continuously generate an annual net profit of 5 billion yen by the fiscal year ending March 2027.
⇒ Following the fiscal year ended March 2025, net profit for the fiscal year ending March 2026 is expected to exceed 5 billion yen.
Use the net cash and deposit balance (21.6 billion yen) outstanding at the end of
2 March 2024 actively to fund M&A investments or shareholder returns (share repurchases and dividends) over the next three years in order to maximize the shareholder value of the Company per share.
⇒ In the fiscal year ended March 2025, a total of 15 billion yen was allocated to M&A investments and shareholder returns.
Strengthening shareholder returns in FY2025!
In addition, MM Investments started an investment business in August 2024. (Amount of investments through March 31, 2025: 23 billion yen)
EBITDA TrendsAs a result of actively promoting the development and strengthening of new businesses, EBITDA from Non-coal Business has steadily increased.
In FY2022 and FY2023, EBITDA from the Coal Business rose sharply due to rising coal prices.
The Coal Business was terminated at the end of FY2023. From FY2024, Consumer Goods and Services segment has been reorganized into three segments: Consumer Goods, Industrial Products, and Financial Services, Other.
180億円
40 billion yen
160億円
30 billion yen
140億円
14 billion yen
120億円
12 billion yen
100億円
10 billion yen
Financial Services, Other
80億円
8 billion yen
60億円
6 billion yen
Industrial Products
40億円
4 billion yen
20億円
2 billion yen Consumer Goods
0億円
0 billion yen
FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Toward achieving stock price growth in FY2025
Targets
Achieve a PBR of 1x or above early
Raise expectations for long-term and sustainable stock price growth
(1) Achieve a PBR of 1x or more early (2) Stably maintain our stock price at a PBR of 1x or more for the long term 2. Acquisition of own shares totaling 20 billion yen (up to 3.5 million shares*) 3. Stock split (1 share → 5 shares)
Three major measures to achieve the targets 1. Drastic increase in dividend (from 130 yen to 230 yen) and the introduction of progressive dividends
*Equivalent to approximately 30% of the number of issued shares (excluding treasury shares)
Shareholder return and capital policies for FY2025
1. Increase in the annual dividend to 230 yen (100 yen increase from the previous fiscal year) and the introduction of "progressive dividends"
While securing growth capital, the Company is also conscious of the dividend yield required in the stock market and will increase its dividend by 100 yen compared to the previous fiscal year.
The Company has newly adopted a "progressive dividend policy*" in order to increase returns in line with growth through M&A and other strategies.
< Progressive dividend policy starting
from annual dividend of 230 yen >
230 yen
100 yen 130 yen
* A dividend policy to maintain or increase annual dividend per share
every year
2024/3
2025/3 2026/3
(forecast)
2027/3
(expectation)
2028/3
(expectation)
2. Share repurchase plan (for a total amount of 20 billion yen subject to the upper limit of 3.5 million shares)
The Company plans to acquire its own shares equivalent to 30% of its issued shares (excluding treasury shares).
The Company will implement capital policies flexibly in response to market trends, aiming to right-size its balance sheet.
< Outline of share repurchase plan >
Total acquisition amount
20 billion yen (upper limit)
Number of shares to be acquired
3.5 million shares (upper limit)
Acquisition period
From June 2, 2025 to June 1, 2026
* It should be noted that depending on market conditions, etc., some
or all of the acquisition may not be completed.
3. Stock split (1 share to be split into 5 shares, effective date: October 1, 2025)
The minimum amount required for each investment will be reduced to improve the liquidity of our shares and