（執筆：フィスコ客員アナリスト 柴田郁夫）Shareholder return The dividend policy of NEC Capital Solution <8793> is based on maintaining stable dividends, while securing internal reserves necessary for investment in growth strategies and strengthening financial health, and reviewing appropriate dividend levels taking into account market trends and performance fluctuations. For the dividend of the 2024 fiscal year, a dividend of 130 yen per share (including an interim dividend of 65 yen) with a 20 yen increase compared to the previous fiscal year will be implemented. Regarding the dividend for the fiscal year ending March 2025, the company plans to pay a dividend of 150 yen per share (including an interim dividend of 75 yen) with a 20 yen increase compared to the dividend in the fiscal year ending March 2024, taking into account the profit forecast. The company plans to reward shareholders in accordance with the dividend policy, as it plans to achieve the highest profit on the profit side as a profit forecast. As a result, the company's dividend payout ratio reaches 40.4%. The actual PBR (price-to-book ratio) is in the 0.7x range and is below the PBR 1.0x that the Tokyo Stock Exchange is requesting improvement. Therefore, we believe that the company will actively pursue initiatives to strengthen shareholder return policies along with profit growth in the future, and the trend of increased dividends will continue.
Caster <9331> positions the return of profits to shareholders as the most important management issue, and believes that strengthening financial structure, enhancing internal reserves for business expansion, and investing in diversifying revenue base and strengthening profitability will lead to the greatest return of profits to shareholders. However, there has been no dividend payment since its founding.
In our company as well, it is believed that the return of profits to shareholders in the form of dividends may be postponed for a while, as the company is currently in a stage where growth investment should be prioritized.
(Written by Fisco Guest Analyst Ikuo Shibata)
