Reasons for the Revision
The Company strives to enhance its corporate value through sustained growth achieved by undertaking investments in game development and other efforts funded by securing an appropriate level of retained earnings. At the same time, one of management s key policies is to return profits to shareholders. By rewarding shareholders primarily with dividends, the Company works to return profits in a way that strikes the optimal balance between recognizing the level of earnings achieved and providing stable rewards. In determining the amount of its dividend, the Company references a consolidated dividend payout ratio of 30%, making its final decision based upon comprehensive considerations of the balance between investment needs and the distribution of profits. The consolidated dividend payout ratio of 30% serves as the guideline for shareholder return policy for the fiscal year ended March 31, 2021.
Reasons for the Revisions
The Company now expects higher net sales, operating income, ordinary income, and profit attributable to owners of parent than previously anticipated under its consolidated financial forecasts for the fiscal year through March 31, 2021. Among the factors contributing to these revisions is a solid performance by the Digital Entertainment segment as a whole, as well as brisk sales of both printed and digital media in the Publication segment. The above forecasts are based on information available at the time of this document s release and are subject to various uncertainties. As such, actual performance may differ from these forecasts.