We continue to provide stable dividends, taking the payout ratio into account as well as the need for internal reserves to maintain and reinforce the corporate structure.

Historical data of dividends

Date of resolution Dividend amount
per share (yen)
Payout ratio(%)
FYE March 31, 2018(Forecast) (*)50 17.7
June 29, 2017
Resolution at 94th General shareholders’ meeting
9 16.9
June 29, 2016
Resolution at 93rd General shareholders’ meeting
7 16.4
June 26, 2015
Resolution at 92nd General shareholders’ meeting
7 41.5
June 27, 2014
Resolution at 91st General shareholders’ meeting
7 35.7
June 27, 2013
Resolution at 90th General shareholders’ meeting
7 34.9
June 28, 2012
Resolution at 89th General shareholders’ meeting
7 38.1

(*)The per share amount of the year-end dividend for the FYE March 31, 2018 (Forecast) will take into consideration the effect of a reverse stock split with a ratio of 1 share for every 5 shares of common stock, with an effective date of October 1, 2017.
The amount not reflecting the reverse stock split will be a total year-end dividend of 10 yen.

EPS (net profit per share), payout ratio

EPS (net profit per share), payout Ratio

Shareholder incentive program

Shareholder incentive programIn this program, which is intended to show our gratitude for our shareholders’ support and also to deepen understanding of the products we offer, the Company sends its products (equivalent to 1,740 yen for 12 boxes of Morinaga silken tofu) to all shareholders with at least one unit (1,000 shares) as recorded in the shareholder registrar as of September 30 of that year. *For domestic shareholders

ColumnMorinaga Silken Tofu, a shareholder gift

Tofu is very nutritious, inexpensive and delicious. The only downside is that it does not last long. However, the Company uses its manufacturing technology for aseptic packaging of milk in cardboard packages and its own long-life manufacturing methods applying packaging technology to make Morinaga Silken Tofu, which has a long life of 10 months even though preservatives and antiseptics are not used.
This tofu is made with carefully selected whole soybeans that have not been genetically modified. The patented manufacturing method for Morinaga Milk eliminates the grassy smell of soybeans and instead offers a rich, smooth taste with a fragrant and delicious tofu that brings out all of the inherent sweetness of soybeans.