Nippn : Notice Concerning Distribution of Dividends from Surplus407 KB

May 12,2023

Notice Concerning Distribution of Dividends from Surplus

NIPPN CORPORATION (the "Company") announces that at a meeting of the Board of Directors held on May 12, 2023, it passed a resolution regarding the distribution of dividends from surplus with a record date of March 31, 2023. Details are as follows. The Company will submit this matter to the 199th Ordinary General Meeting of Shareholders to be held on June 29, 2023.

１． Outline of dividends

					Most recent dividend			Dividends in the previous
		Amount determined			forecast			fiscal year
				(Announced on May 13,			(ended March 31, 2022)
					2022)
Record date		March 31, 2023		Same as left		March 31, 2022
Dividend per share		21.00 yen		19.00 yen		20.00 yen
Total dividends		1,640 million yen		－		1,539 million yen
Effective date		June 30, 2023		－		June 30, 2022
Source of dividends		Retained earnings		－		Retained earnings

２． Reason

The Company considers the return of profits to shareholders to be one of its most important management issues, and its basic policy is to maintain stable and sustainable dividends with a target payout ratio of 30% or more, while securing retained earnings, giving consideration to strengthening of the corporate structure, future business development, and the business environment.

Based on this basic policy, the Company has decided to pay a year-end dividend of 21 yen per share, up from the initial forecast of 19 yen per share, in order to respond to its shareholders' ongoing support, taking into consideration its consolidated business results for the fiscal year under review. As a result, the annual dividend will be 40 yen per share, including the interim dividend already paid.

(Reference) Breakdown of dividends

				Dividend per share
		End of 2nd quarter		End of fiscal year		Total
Dividends in the year ended March			21.00 yen		40.00 yen
31, 2023		19.00 yen
Dividends in the year ended March			20.00 yen		38.00 yen
31, 2022		18.00 yen

(Reference)

1. Changes in consolidated results

						(Million yen)
	Year ended	Year ended	Year ended	Year ended	Year ended	Year ending
	March 2018	March 2019	March 2020	March 2021	March 2022	March 2023
Net sales	323,495	335,399	344,839	288,324	321,317	365,525
Operating income	10,060	11,222	11,101	10,370	11,282	12,288
Ordinary income	11,862	13,065	12,740	12,659	14,270	14,816
Profit attributable	7,651	8,455	8,941	8,636	9,327	10,260
to owners of parent
Payout ratio	31.5%	29.4%	29.1%	32.0%	31.3%	30.3%
(consolidated)

(Note) The figures for the fiscal year ended March 31, 2021 reflect those to which retrospective accounting has been applied due to accounting policy changes.

2. Changes in dividend per share