Morinaga & Co.,Ltd.
2201・Prime Market・Foods
Governance
The company has a Board of Corporate Auditors. The Board of Directors consists of 9 directors (including 4 outside directors and 4 independent officers), and the Board of Corporate Auditors consists of 4 auditors (including 3 outside auditors). The company adopts a two-tier structure comprising the Board of Directors and the Executive Committee. An executive officer system has been introduced to accelerate decision-making and strengthen management oversight functions.
Risk Management
The "Total Risk Management Committee," chaired by the President and Representative Director, identifies and assesses risks, examines countermeasures, and monitors progress, with deliberation results reported to the Board of Directors. A complementary framework is in place whereby the "Sustainability Committee" manages sustainability risks and the "Personnel Committee" manages human capital risks.
Shareholder Returns
For FY2026 (ending March 2026), the annual dividend is ¥65 per share (interim ¥32.50, year-end ¥32.50), with a payout ratio of 30.8% and DOE of 4.0%. For FY2027 (ending March 2027), the dividend is planned to increase to ¥70 per share (interim ¥35, year-end ¥35). The company also intends to flexibly implement share buybacks.
Dividend Policy
While maintaining a sound balance sheet, the company aims to raise its DOE (Dividend on Equity ratio) over the medium to long term, taking into account the payout ratio level and free cash flow. For FY2026 (ending March 2026), actual dividends were ¥65 per share (total dividends of ¥5,464 million, payout ratio of 30.8%, DOE of 4.0%). For FY2027 (ending March 2027), the dividend is planned to increase to ¥70 per share (interim ¥35, year-end ¥35), with a payout ratio of 35.7%. With awareness of the total payout ratio, the company will also flexibly implement share buybacks as necessary.
ESG
The company has endorsed TCFD and TNFD, and has set targets of achieving net-zero GHG emissions by 2050 and reducing CO2 emissions by 30% or more by 2030, obtaining SBT Near-term certification in March 2026. In terms of human capital, the company is advancing initiatives spanning environmental, social, and governance areas as a whole, including promoting D&I, being certified as an Excellent Health Management Corporation (White 500) for 9 consecutive years, and receiving its first Gold rating in the PRIDE Index.
Last updated: June 25, 2026