Notice Regarding Revision to Dividends Forecasts (Increase)
and Abolishment of Shareholder Benefit Plan
Warabeya Nichiyo Holdings Co., Ltd. (hereinafter the "Company") has decided to revise the dividends forecasts (increase) and abolish the shareholder benefit plan today as follows.
1. Revisions to dividends forecasts
Details of the revisions
Dividends forecasts for the year ending February 28, 2022 (from March 1, 2021 to February 28, 2022)
Dividends per share (Yen)
2nd quarter-end
Fiscal year-end
Total
Previous forecast
0.00
40.00
40.00
Revised forecast
0.00
50.00
50.00
Results for the fiscal year
0.00
40.00
40.00
ended February 28, 2021
(2) Reasons for the revisions
The Company's basic policy is to pay dividends, targeting a consolidated dividend payout ratio of 25%, while taking into consideration consolidated results, internal reserves for investments for future business expansion, etc. With this basic policy, the dividend forecast for the fiscal year ending February 28, 2022 will be 50 yen per share, which is a 10 yen increase from the previous forecast announced on October 7, 2021, based on the results up to the nine months ended November 30, 2021 and the forecast of consolidated financial results for the year ending February 28, 2022.
2. Abolishment of the shareholder benefit plan
(1) Reasons for the abolishment
The Company recognizes that the return of profits to shareholders is an important management issue, and implemented the shareholder benefit plan with the aim of expressing the Company's gratitude to shareholders for their support, increasing the attractiveness of investing in the Company's shares and encouraging more shareholders to retain shares over the medium to long term.
As a result of careful, detailed consideration from the perspective of how the fair return of profits should be based on the principle of shareholder equality in the Corporate Governance Code, the Company has deemed that enhancement of the direct return of profits through dividends is more appropriate, and has accordingly abolished the shareholder benefit plan.
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The Company continues to consider the return of profits to shareholders as an important management issue, and will work to enhance corporate value. The Company sincerely requests your understanding.
(2) Timing of abolishment of the shareholder benefit plan
The Company will give benefits to the Company's shareholders listed on the final shareholder register as of February 28, 2022, and after that the shareholder benefit plan will be deemed abolished.
Note: This English translation is provided solely for information purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
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WARABEYA NICHIYO Holdings Co. Ltd. published this content on 17 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2022 07:34:09 UTC.
WARABEYA NICHIYO HOLDINGS CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of cooked food such as cooked rice, cooked bread, prepared foods, and Japanese sweets, and the purchase, process and sale of food materials. The Company operates through five business segments. The Food related segment manufactures and sells cooked foods such as cooked rice, cooked bread, prepared meals, and Japanese sweets for convenience stores. The Food Ingredients segment is engaged in the purchase and sale of food materials for food makers. The Logistical segment is engaged in the provision of food related transportation. The Food Production Equipment segment is engaged in the sale, repair and maintenance of food production equipment. The Temporary Staffing related segment is engaged in temporary staff dispatch and other business contracts.
WARABEYA NICHIYO HOLDINGS CO., LTD. 
