Our business model aims to enhance corporate value in the medium- to long-term, while at the same time recognizing the vital importance of distributing profits back to our shareholders. We are committed to continuously returning profits to shareholders at a total return ratio of 30% or more (annually) based on consolidated performance, in the form of dividends and the repurchase of treasury stock in order to improve capital efficiency. In principle, dividends will be paid twice a year, in the form of an interim dividend and a year-end dividend.
Dividends per share and changes in dividend payout ratio
Dividend payout ratio
Dividend payout ratio
（YEN、％）
2020/3
2021/3
2022/3
2023/3
2024/3
Dividends per share
Interim
―
―
―
15
15
Term-end
10
10
20
16
17
Annua
10
10
20
31
32
Dividend payout ratio
40.2
18.9
24.1
48.5
36.3
*We conducted a two-for-one stock split of the common shares held by shareholders on August 1, 2022. Dividends per share values have been retrospectively adjusted, taking into account the stock split.
Shareholder Incentive Program
Our shareholder incentive program was introduced with the aim of increasing our number of medium- and long-term shareholders, fostering increased understanding and support for our business and giving back to shareholders in exchange for their continued support.
Shareholders on our shareholder registry who hold at least 1 share unit (100 shares) of our company stock each year on the last day of March are eligible for the incentive program.
Shareholder Incentive Program Details
As shown in the table below, shareholders will be awarded JF Gourmet Card gift certificates, valid throughout Japan, according to the number of shares held.
Number of Shares Held (as of record date)
Incentive
100 to 299 shares
¥500 JF Gourmet Gift Card
300 to 499 shares
¥1,500 JF Gourmet Gift Card
500 to 999 shares
¥2,500 JF Gourmet Gift Card
1,000 to 4,999 shares
¥5,000 JF Gourmet Gift Card
5,000 or more shares
¥10,000 JF Gourmet Gift Card
JF Gourmet Gift Cards can be used for the purchase of food and drink at any of some 35,000 participating establishments throughout Japan. This is our way of giving back to our shareholders in the form of a delicious meal, whether eat-in, take-out or delivery, while at the same time helping to support the food and drink industry.
Issue Date
JF Gourmet Gift Cards are issued once yearly after the Annual General Shareholders' Meeting held around the end of June each year.
