February 26, 2025 | |
For Immediate Release | |
Company name | Okabe Co., Ltd. |
Representative | Hirohide Kawase, Representative Director, |
President and Chief Executive Officer | |
(Securities Code: 5959, TSE Prime Market) | |
Contact | Yasushi Hosomichi, Director and |
Senior Managing Executive Officer | |
in charge of Administrative Division | |
(TEL. +81-3-3624-5119) |
Notice of Dividends of Surplus
Okabe Co., Ltd. (the "Company") announced that at a meeting held on February 26, 2025, the Company's Board of Directors resolved to pay dividends of surplus with December 31, 2024 as the record date. Details are as follows.
Details | |||||
1. Year-end dividend for the fiscal year ended December 31, 2024 | |||||
Immediately preceding | Results for the previous year | ||||
dividend forecast | |||||
Amount determined | (Fiscal year ended | ||||
(Announced on | |||||
December 31, 2023) | |||||
February 14, 2025) | |||||
Record date | December 31, 2024 | December 31, 2024 | December 31, 2023 | ||
Dividend per share | 20.00 yen | 20.00 yen | 12.50 yen | ||
(Ordinary dividend: 15.00 yen) | (Ordinary dividend: 15.00 yen) | ||||
(Special dividend: 5.00 yen) | (Special dividend: 5.00 yen) | ||||
Total dividend | 930 million yen | ‒ | 580 million yen | ||
Effective date | March 12, 2025 | ‒ | March 14, 2024 | ||
Source of dividends | Retained earnings | ‒ | Retained earnings | ||
2. Reason
Although profit attributable to owners of parent was significantly lower than expected due mainly to the posting of the extraordinary loss, steady business growth is expected going forward as business performance is progressing as expected, excluding special factors such as the extraordinary loss. Therefore, with respect to the ordinary year-end dividend, the Company will distribute 15 yen per share as initially forecast for the fiscal year ended December 31, 2024. Although the year-end dividend for the fiscal year ended December 31, 2024 will be based on the existing dividend policy, the Company will pay a special dividend of 5 yen per share as part of its efforts to improve capital efficiency and enhance profit distribution, in order to rapidly implement measures to raise ROE and quickly achieve a P/B ratio of over 1x through optimization of capital structure in conjunction with strengthening profitability. The Company will consider paying special dividends in a flexible manner in order to improve ROE and achieve a P/B ratio of over 1x as soon as possible in the next fiscal year and beyond.
As a result, the year-end dividend for the fiscal year ending December 31, 2024 is 20 yen per share (ordinary dividend: 15 yen per share, special dividend: 5 yen per share). Since we have already paid an interim dividend of 15 yen per share, the annual dividend for the current fiscal year will be 35 yen per share (ordinary dividend: 30 yen per share, special dividend: 5 yen per share).
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As part of the Company's efforts to accelerate its corporate value enhancement strategy, the Company has recast its shareholder return policy (dividend policy). For details, please refer to the "Notice of Change in Shareholder
Return Policy (Dividend Policy), Revision of Year-End Dividend Forecast for the Fiscal Year Ending December
31, 2024 (Dividend Increase) and Decision on Matters Related to Purchase of Treasury Shares" released on
February 14, 2025.
Under the new policy, the Company plans to pay an annual dividend of 41 yen per share for the fiscal year ending December 31, 2025 (interim dividend of 20 yen per share (ordinary dividend: 15 yen per share, special dividend: 5 yen per share), year-end dividend of 21 yen per share (ordinary dividend: 16 yen per share, special dividend: 5 yen per share)) as described in the "Summary of Financial Results for the Year Ended December 31, 2024," disclosed on February 14, 2025.
End