Shareholder Returns and Dividends

Calbee regards the return of profits to shareholders as one of its top management priorities.
Under our growth strategy toward 2035, “Accelerate the Future,” we have introduced a progressive dividend policy of maintaining or increasing dividends by at least ¥3 per share each fiscal year over the five-year period from the fiscal year ending March 2027 to the fiscal year ending March 2031, in order to provide stable and disciplined returns based on cash generation. By strengthening our earning power, improving capital efficiency, and enhancing growth expectations, we aim to enhance corporate value and further enhance returns to our shareholders.

History Data on Dividends

• *A 4-for-1 share split was implemented on October 1, 2013. Per share figures were retroactively adjusted to reflect the stock splits.

Growth Strategy ‘Change 2025’: Status of Shareholder Returns
(Three-Year Period: FY2024/3 – FY2026/3)

Based on the cash allocation framework and the shareholder return policy outlined in “Change 2025,” which aims for a total payout ratio of 50% or more while implementing stable dividend increases with a target DOE of 4%, we implemented shareholder return measures as follows.