Tokushu Tokai Paper Co., Ltd.
3708・Prime Market・Pulp & Paper
Governance
The company has adopted the audit and supervisory committee structure, with a Board of Directors composed of 10 directors (5 of whom are outside directors). As advisory bodies to the Board of Directors, it has established a Nomination and Compensation Committee and a Compliance Committee (in both of which more than half of the members are outside members), aiming to strengthen oversight functions and improve transparency.
Risk Management
Based on the
Shareholder Returns
From the 7th Medium-Term Management Plan, the dividend policy has been strengthened to "the higher of a payout ratio of 50% or DOE of 4.0%." The annual dividend for FY2026 (ending March 2026) is planned at ¥53.67 per share (payout ratio of 42.9%), and ¥94 for FY2027 (ending March 2027). Share buybacks are also conducted flexibly.
Dividend Policy
Through FY2026 (ending March 2026), the basic policy is stable dividends targeting a payout ratio of around 30%. The annual dividend for FY2026 (ending March 2026) is ¥53.67 per share (interim ¥21.67 + year-end ¥32, after accounting for the effect of the stock split), with a payout ratio of 42.9% and total dividends of ¥1,879 million. From FY2027 (ending March 2027), based on the 7th Medium-Term Management Plan, the basic policy will change to "the higher of a payout ratio of 50% or DOE of 4.0%," strengthening shareholder returns together with flexible share buybacks. The planned dividend for FY2027 (ending March 2027) is ¥94 per share (interim ¥47 + year-end ¥47).
ESG
The company has expressed support for the TCFD recommendations and has conducted scenario analysis. It has set a target of reducing CO₂ emissions by 38% by FY2030 compared to FY2013 levels (FY2024 actual: 37.5% reduction), with a goal of net zero by FY2050. In terms of human capital, the ratio of female managers and managerial candidates stood at 11.6% (FY2025 actual, exceeding the 10% target), and the company is also working on promoting DE&I, health management, and improving employee engagement.
Last updated: June 24, 2026