ValueCommerce : Notice of Dividends(62KB)pdf

	January 29, 2020
Financial Release
Corporate Name	ValueCommerce Co., Ltd.
Representative	Jin Kagawa, Representative Director,
	President and CEO
Ticker Symbol	2491
Inquiries	Masatomo Endo, Director of the Board,
	CFO
Phone	81 3 6438 6860

Notice of Dividends

ValueCommerce Co., Ltd. ("the Company") announced that, at the meeting of its Board of Directors held on January 29, 2020, it has declared dividend payable to the shareholders whose record date was December 31, 2019. Details are as follows.

The articles of incorporation of the Company provide that the meeting of Board of Director of the company is authorized to resolve the payment of dividends in accordance with the provision of paragraph (1) of Article 459 of the Companies Act.

1. Details of Dividends

	FY 2019	Most recent dividend forecast	FY 2018
	(Announced on
	Year-end dividend	Year-end dividend
	December 13, 2019)
Record date	December 31, 2019	Same as at left	December 31, 2018
Dividend per share	¥19.00	Same as at left	¥18.00
Total dividend amount	¥613 million	―	¥581 million
Effective date	March 9, 2020	―	March 11, 2019
Source of funds for	Retained earnings	―	Retained earnings
dividend

2. Reason

Considering a shareholder return policy as one of the most important managerial issues, the Company has established its minimum target dividends payout ratio of 30% on the company's consolidated profits in each fiscal year, while retaining certain earnings for our future growth.

(Reference) Breakdown of annual dividend

	Dividend per share		Total dividend	Payout ratio
					amount
	Interim	Year-end		Total	(Consolidated)
		(Annual)
	Yen	Yen		Yen	Million Yen	%
FY2019	14.00	19.00		33.00	1,065	31.9
FY2018	7.00	18.00		25.00	806	30.9