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Shareholder Return Policy

Use steadily generated cash flow effectively as shown below from an EVA standpoint toward further development.

  • Investment for future development (capital expenditures, M&A, etc.)
  • Steady and continuous cash dividends (40% payout ratio target)
  • Share repurchases

Kao places priority on providing shareholders with stable, continuous cash dividends.

Kao has raised annual dividends to 144 yen per share for the fiscal year ended December 31, 2021, the 32nd consecutive increase in cash dividends.

FY2021: 32nd consecutive increase in dividends


  • * Impacts of share splits are retroactively reflected.

Aggregated to December 31, 2021, Kao Corporation repurchased 186.9 million shares at a cost of 643.8 billion yen.

Total cost of share repurchases: 643.8 billion yen


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