Shareholder Return Policy

T&D Holdings's shareholder return policy is to realize stable and sustainable shareholder returns based on capital by implementing the following measures.

(1) Cash dividend・・・ To pursue stable and sustainable increase, using adjusted DOE as a guide (to be gradually raised to approximately 4%).

(2) Share buyback・・・To implement agile and strategic share buyback that takes into account the level of core ESR*1 considering the quality of capital and others*2.

*1 core ESR = Surplus that is non applicable of UFR, exempt of subordinated debt / Economic value based risk amount

*2 To consider opportunity for growth investment, status of adjusted ROE / ROEV, our share price, and others.

cash dividends + Share buyback

* Group adjusted profit = Net income ± [1]Valuation gains/losses caused by discrepancy of accounting treatment of assets and liabilities + [2]Additional internal reserves in excess of the legal standard requirements

Historical Dividends

Dividend per Share
Interim Year-end Annual(Total)
FY ended March 31, 2022 ¥28(Forecast) ¥28(Forecast) ¥56(Forecast)
FY ended March 31, 2021 ¥22 ¥24 ¥46
FY ended March 31, 2020 ¥22 ¥22 ¥44
FY ended March 31, 2019 ¥20 ¥22 ¥42
FY ended March 31, 2018 ¥17.5 ¥20 ¥37.5
FY ended March 31, 2017 ¥15 ¥17.5 ¥32.5
FY ended March 31, 2016 ¥30 ¥30
FY ended March 31, 2015 ¥25 ¥25
FY ended March 31, 2014 ¥25 ¥25
FY ended March 31, 2013 ¥22.5 ¥22.5
FY ended March 31, 2012 ¥22.5 ¥22.5
FY ended March 31, 2011 ¥45 ¥45
FY ended March 31, 2010 ¥45 ¥45
FY ended March 31, 2009 ¥45 ¥45
FY ended March 31, 2008 ¥65 ¥65
FY ended March 31, 2007 ¥65 ¥65
FY ended March 31, 2006 ¥55 ¥55

* T&D Holdings conducted a 2 for 1 stock split on October 1, 2011.
Please see "TANSHIN Reports" page for the projected dividend.

Share Buybacks

Total amount of acquisition
FY ended March 31, 2022 About ¥10 billion
FY ended March 31, 2021 About ¥13 billion
FY ended March 31, 2020 About ¥13 billion
FY ended March 31, 2019 About ¥17 billion
FY ended March 31, 2018 About ¥17 billion
FY ended March 31, 2017 About ¥19 billion
FY ended March 31, 2016 About ¥30 billion
FY ended March 31, 2015 About ¥10 billion
FY ended March 31, 2014 About ¥3 billion
FY ended March 31, 2013
FY ended March 31, 2012 About ¥5 billion

Stockholder Benefit Program

Not Implemented.