Komori Corporation (hereunder the "Company") hereby announces that it resolved at a meeting of the Board of Directors held on today, to distribute dividends from surplus with a date of record of March 31, 2023. Details of the dividends are outlined below.
This matter will be submitted to the 77th Annual General Meeting of Shareholders to be held on June 19, 2023.
1.
Content of Dividends
Most Recent Dividend
Dividends Paid for the
Previous Fiscal Year
Determined Amount
Forecasts (Announced
Ended March 31,
on January 31, 2023)
2022
Record Date
March 31, 2023
March 31, 2023
March 31, 2022
Dividends per Share
¥30.00
¥25.00
¥41.00
Total Dividends
¥1,643 million
-
¥2,245 million
Effective Date
June 20, 2023
-
June 21, 2022
Source of Dividends
Retained earnings
-
Retained earnings
2.
Reason of revision
While considering the level of retained earnings required to prudently secure a robust operating platform and ensure future business growth from a long-term perspective, Komori positions maintaining the robust and stable return of profits to its shareholders as a key management priority. Moreover, in line with the revised Sixth Medium-Term Management Plan disclosed in
1
May 2021, the Company aims for a total shareholder return ratio of 80% or more. (However, in the future, if an extraordinary profit or loss is unexpectedly recorded, Komori may determine the volume of funds to be used for shareholder returns by making case-by-case judgments that involve the analysis of such factors as the reasons behind the profit or loss.)
With regard to year-end dividends for the fiscal year ended March 31, 2023, the Company has decided to set the planned amount of such dividends to ¥30 per share, an increase of ¥5 per share from the previous dividend forecasts announced on January 31, 2023. This decision takes into account higher annual profit, in excess of forecasts, due to a lower selling, general and administrative (SG&A) expenses than expected. The decrease in SG&A expenses is due to factors such as a decrease in delivery and installation along with other costs due to differences in the sales mix by region and by product. The payment of the abovementioned dividends is expected to be proposed to the 77th Annual General Meeting of Shareholders scheduled for June 19, 2023 for its approval. In addition, profit attributable to owners of the parent totaling ¥5,716 million includes adjustment for income tax expenses of ¥867 million in connection with losses recorded in past fiscal years. The latter amount is not designated for dividends due to its nature as an adjustment for losses recorded in past fiscal years.
The payment of ¥30 per share in year-end dividends will bring the total amount of full-year dividends to ¥45 per share (with the inclusion of the interim dividend of ¥15 per share that was paid in November 2022). Accordingly, funds to be appropriated for these dividends are expected to total ¥2,464 million. In addition, the company announced in a separate statement today that it will acquire treasury stock during the period from May 16, 2023 to January 31, 2024, with a total acquisition amount of 1.5 million shares (at maximum) or ¥1.5 billion (at maximum) is planned. Combined with dividends, the total return to shareholders is planned to be ¥3,964 million (at maximum).
Reference: Breakdown of annual Dividends
Record Date
Second Quarter
Results for the Fiscal Year
¥15.00
Ended March 31,2023
Results for the Previous Fiscal Year
¥15.00
Ended March 31,2022
Per-Share Dividends
Fiscal Year-end
¥30.00
¥41.00
Total
¥45.00
¥56.00
End of Document
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Komori Corporation published this content on 17 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 May 2023 08:29:07 UTC.
KOMORI CORPORATION is a Japan-based company mainly engaged in the manufacture and sale of printing equipment, as well as the provision of related materials, finance services and real estate management services. The Company operates in three regional segments. The Japan segment is engaged in the manufacture and sale of securities printing equipment and other printing equipment in Japan, Latin America and Asia, as well as the purchase and sale of small printing equipment, the provision of inks, paper, folding machines, electrical equipment and other equipment parts and printing materials. The North America segment is mainly engaged in the sale of printing equipment in the United States. The Europe segment is mainly engaged in the sale of printing equipment in Western Europe, Eastern Europe and the Middle East, as well as the manufacture and sale of paper printing equipment . The Company also operates in Hong Kong, Taiwan, Singapore, Malaysia and India.