To Whom It May Concern
Date: May 9, 2016
Company Name: Sanken Electric Co., Ltd. Code No.: 6707 (the TSE, 1st Section) Inquiries: Yasunobu Murano Finance and Investor Relations Division
TEL: (048) 487-6121
Notice of Distribution of retained earnings (Skipping of the Dividend)The Company hereby announces the resolution of its Board of Directors not to distribute retained earnings regarding March 31, 2016.
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Details of the Dividend
Actual results
Previously announced forecast
(Disclosed on Feb. 8, 2016)
Actual results of the previous year
(Year ended Mar. 31, 2015)
Record Date
Mar 31, 2016
Same as left
Mar 31, 2015
Dividend per Share
0yen 00sen
3yen 50sen
3yen 50sen
Total Dividends Paid
-
-
424million yen
Effective Date
-
-
Jun. 26, 2015
Dividend Resource
-
-
Retained earnings
- Reasons
The management of the Company places distribution of profits to our shareholders as one of the most important corporate policies, and is committed to ensure a steady and stable stream of dividends through improvements in our profitability while securing the internal reserves necessary to develop businesses and strengthen a financial basis and an overall management foundation for the future. In the consolidated financial statements for the current fiscal year, however, net income attributable to owners of the parent company was
¥171 million, an amount significantly lower than the previous year, due to the posting of extraordinary losses resulting from various structural reforms in the Group and the disposal of defective wafers attributable to contaminated chemicals purchased. In the non-consolidated financial statements, we were forced to record a net loss of ¥1,178 million as a result of the posting of losses in association with the execution of various structural reforms in the Group. Under these circumstances, we regret to announce that the Company has decided not to pay any year-end dividend for the current fiscal year, in comprehensive consideration of the status of the individual net assets that would constitute the source of dividends, and the amount of investment necessary to improve performance in the future. We appreciate your understanding of the circumstances and ongoing trust and support.
(Reference) Breakdown of annual dividend per share
Dividend per share | |||
Record Date | Interim | End of year | Total |
Yen | Yen | Yen | |
Actual results of the previous year (Year ended March 31, 2015) | 3.00 | 3.50 | 6.50 |
Actual results of this year (Year ended March 31, 2016) | 3.50 | - | 3.50 |