Shareholder Dividends and Incentives

Dividends

In allocating profits, the Company's policy is to continue to provide stable and long-term dividends while considering earnings and also setting aside internal reserves to maintain and strengthen the Company's business structure. The Company's divided payout ratio target is 20%.The Company's basic policy is to use retained earnings to pay dividends once a year at the end of the fiscal year. Decisions on the distribution of retained earnings are made at the general shareholders'meeting.

Historical Data of Dividends

Date of resolution Dividend amount
per share (yen)
Payout ratio(%)
FYE March 31, 2020(Forcast) 60 15.2
June 27, 2019
Resolution at 96th General shareholders' meeting
55 19.4
June 28, 2018
Resolution at 95th General shareholders' meeting
50 15.7
June 29, 2017
Resolution at 94th General shareholders' meeting
45 16.9
June 29, 2016
Resolution at 93rd General shareholders' meeting
35 16.4
June 26, 2015
Resolution at 92nd General shareholders' meeting
35 41.5
June 27, 2014
Resolution at 91st General shareholders' meeting
35 35.7

EPS (net profit per share), Payout Ratio

Shareholder Incentive Program

The Company offers a shareholder incentive program with the aim of deepening understanding of our products as well as showing appreciation to those shareholders who always support the Company.
The Company sends Company products commensurate with the number of shareholdings to those shareholders who are listed in the shareholder registry as of September 30 of every year and hold 100 or more shares (one unit) between late November and early December.

*For domestic shareholders

Shareholder Incentives

Number of shares held:100-199
Products sent:6 blocks of Company product Morinaga Silken TOFU (value equivalent to 870 yen)

Number of shares held:200-499
Products sent:12 blocks of Company product Morinaga Silken TOFU (value equivalent to 1,740 yen)

Number of shares held:500 or more
Products sent:A combination of Company products with a value equivalent to 3,000 yen (including six blocks of Morinaga Silken TOFU)

Example of a product bundle:Shareholders with 500 or more shares are eligible

*The following photo is for illustrative purposes only and the actual products sent may differ.

Column Morinaga 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 7.2 months (216 days) 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.

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