Dividend Payout at Fiscal Year-end
SOFTBANK CORP. (hereafter “the Company”) announces to submit a request for approval regarding the matter of dividend payout to the 32nd Annual General Meeting of Shareholders scheduled on June 22, 2012. This applies to shareholders on record as of the base date of March 31, 2012. The details are described below.
1. Details of Dividend
| Resolution Content | Latest Forecast (Announced on May 9, 2011) | Actual of Fiscal year ended March 2011 (FY2010) | |
|---|---|---|---|
| Base date | March 31, 2012 | Same as on the left | March 31, 2011 |
| Dividend per share | JPY 40.00 | TBD | JPY 5.00 |
| Total amount of dividends | JPY 43,940 million | — | JPY 5,411 million |
| Effective date | June 25, 2012 | — | June 27, 2011 |
| Resource of dividend | Retained earnings | — | Retained earnings |
2. Reasons
The Company has prioritized reduction of its net interest-bearing debt in order to improve the Group's financial status after the acquisition of Vodafone K.K. (currently SOFTBANK MOBILE). The Company has steadily reduced its net interest-bearing debt, supported by strong results in the Mobile Communications segment. Net interest-bearing debt has been reduced to under 30% of the level at March 31, 2009 over three years. As a result of these efforts, the Company's credit ratings have been raised substantially.
In light of this improvement in the Group's financial status, growth potential of businesses and other factors, the Company has decided to change its policy. The Group will now focus on investing actively for sustained growth and returning profits to shareholders, while maintaining a sound financial status.
Under this new policy, the Company has decided to propose raising the year-end dividend per share for the fiscal year by JPY 35.00 from JPY 5.00 in the previous fiscal year to JPY 40.00. This increase in the dividend for the fiscal year includes early implementation of the dividend increase previously planned for the fiscal year ending March 31, 2015.
(Reference) Dividend break down
| Dividend per Share | |||
|---|---|---|---|
| Base date | Second Quarter End | Fiscal Year End | Total |
| FY2011 actual and plan | JPY 0.00 | JPY 40.00 (plan) | JPY 40.00 (plan) |
| FY2010 actual | JPY 0.00 | JPY 5.00 | JPY 5.00 |
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