THERMAE-YU HOLDINGS CO.,LTD.
3521・Standard Market・Services
Governance
The Board of Directors consists of a company with a Board of Corporate Auditors, comprising 4 directors (2 outside directors) and 3 corporate auditors (all outside). The outside director ratio is 50%. The Board of Directors meets 14 times per year. Neither a Nomination Committee nor a Compensation Committee has been established.
Risk Management
Legal and compliance risks are addressed through consultation with outside counsel, while accounting risks are discussed with the accounting auditor as needed. Sustainability-related risks (economic, environmental, social, and human capital) are identified and assessed through meetings of officers and department heads, and material issues are discussed at the Board of Directors meeting, held in principle once a month.
Shareholder Returns
Resumed dividend payments for the first time in 56 years since FY1969 (ending March 1969), paying ¥5 per share (total dividends of ¥132,258 thousand) at the end of FY2025 (ending March 2025). The payout ratio was 84.0%. The articles of incorporation stipulate that share buybacks can be executed flexibly by resolution of the Board of Directors.
Dividend Policy
The company has adopted a policy of paying dividends once annually at fiscal year-end. Judging that improvements in profitability and financial base have progressed steadily, it resumed dividend payments in FY2025 (ending March 2025) for the first time in 56 years (¥5 per share). Going forward, the company intends to secure distributable profits through expansion of earnings in the Bathing (Onsen/Spa) and Real Estate businesses. No explicit payout ratio target has been disclosed (actual result: 84.0%).
ESG
Sustainability basic policy formulated around three axes: Environment (CO₂ reduction), Society (contribution to a safe and secure health-oriented society), and Governance. Human capital is positioned as the most critical issue, with goals set for diverse talent recruitment, human rights-respecting management, and development of candidates for manager positions at bathing facilities. Quantitative disclosure of CO₂ emissions and similar metrics is not confirmed in the Annual Securities Report.
Last updated: June 29, 2026