Keeping in mind the improvement of its consolidated return on equity, Yamaha Corporation undertakes investments for growth—including R&D, investing in marketing capabilities and the making of other capital investments—on the basis of its medium-term consolidated income level, while proactively returning profits to shareholders. Taking continuous and steady cash dividends as the basis of its shareholder returns, Yamaha will implement flexible shareholder returns as it sees fit with the aim of improving its capital efficiency, while giving due consideration to the maintaining of a balance between adequate internal reserves of investment for future growth. Yamaha Corporation will implement shareholder returns with a target consolidated total return ratio of 50% (cumulative amount of medium-term management plan period).
Shareholder Return
Dividends
Profit Distribution Policy
Acquisition of Treasury Shares
Purpose
Yamaha aims to improve shareholder returns and capital efficiency through flexible acquisition and cancellation of treasury shares.
Acquisition of Treasury Shares
| Acquisition period | Acquisition method | Amount of acquisition | Number of shares acquired |
|---|---|---|---|
| February 8, 2023 to June 16, 2023 (Trade Base) | Purchase on the Tokyo Stock Exchange market | 2,858,500 shares | 14,999,565,349 yen |
| August 24, 2021 to November 12, 2021 (Trade Base) | Purchase on the Tokyo Stock Exchange market (Including Off-Auction Own Share Repurchase Trading (ToSTNeT-3)) | 4,252,200 shares | 27,999,534,968 yen |
| November 5, 2019 to February 20, 2020 (Trade Base) | Purchase on the Tokyo Stock Exchange market | 2,534,800 shares | 14,999,927,963 yen |
| February 6, 2019 to April 26, 2019 (Trade Base) | Purchase on the Tokyo Stock Exchange market | 3,625,200 shares | 19,999,945,000 yen |
| December 1, 2017 to March 23, 2018 (Trade Base) | Purchase on the Tokyo Stock Exchange market | 5,660,700 shares | 24,999,818,463 yen |
| February 5, 2016 to April 8, 2016 | Purchase in the market through a trust bank | 6,182,400 shares | 19,999,748,900 yen |
February 9, 2011 |
Off-hours trading system of the Tokyo Stock Exchange for own share acquisitions | 910,000 shares | 1,023,750,000 yen |
| November 10, 2010 | Off-hours trading system of the Tokyo Stock Exchange for own share acquisitions | 2,674,900 shares | 2,626,751,800 yen |
| May 5, 2008 to June 6, 2008 | Market purchases on the Tokyo Stock Exchange | 9,033,800 shares | 17,999,998,700 yen |
Cancellation of Treasury Stock
| Date of cancellation | Number of treasury shares to be cancelled |
|---|---|
| December 1, 2021 | 4,255,025 shares |
| June 26, 2018 | 5,700,000 shares |
| June 30, 2008 | 9,269,601 shares |