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.
This applies shareholders who hold 100 shares (1 unit) or more listed in the shareholder registry as of September 30 of the relevant year. Shareholders will have the choice of either Course A or Course B. The benefits are scheduled to be delivered in early February of the following year.
*For domestic shareholders
Shareholder Incentives
Shareholders will have the choice of either Course A or Course B.
A course ： This course offers Company’s products centering on Morinaga Silken TOFU
B course ： This course offers Company’s products other than Morinaga Silken TOFU
Number of shares held：100-199
Products sent ： Company products with a value equivalent to 870 yen
| A course | 「Morinaga Silken TOFU」6 blocks |
|---|---|
| B course | A combination of beverages (total 8 products) 「Morinaga Mammy 200ml」,「Sunkist 100% Orange 200ml」,「Sunkist 100% apple 200ml」,「Lipton Lemon Tea 200ml」4 kinds × 2 |
Number of shares held：200-499
Products sent ： Company products with a value equivalent to 1,740 yen
| A course | 「Morinaga Silken TOFU」12 blocks |
|---|---|
| B course | 「Milk Life」300g |
Number of shares held：500 or more
Products sent ： Company products with a value equivalent to 3,000 yen
| A course | 「Morinaga Silken TOFU」12 blocks and 「Milk Life」stick type |
|---|---|
| B course | A combination of company products 「Vegetable Jelly 」assortment（3 kinds × 2）,「Creap (creaming powder) stick type」,「KRAFT 100% Parmesan Cheese 40g」,「Morinaga Condensed Milk」 and 5 beverages × 2（「Morinaga Mammy 200ml」,「Sunkist 100% Orange 200ml」,「Sunkist 100% apple 200ml」,「Lipton Lemon Tea 200ml」,「Lipton Milk Tea 200ml」） |
※This applies shareholders who hold 100 shares (1 unit) or more listed in the shareholder registry as of September 30 of the relevant year.
※Shareholders with fewer than 100 shares are not eligible for the shareholder incentive program.
※Shareholders will have the choice of either Course A or Course B.
※The equivalent values of the Company’s products are applicable when Course A is selected.
※Postcards with information on shareholder incentives will be sent from mid to late November.Shareholders will be requested to fill in the necessary items and return the postcards. The benefits are scheduled to be delivered in early February of the following year.
Morinaga Silken TOFU
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.