Hokuetsu Corporation
3865・Prime Market・Pulp & Paper
Governance
Company with a Board of Corporate Auditors. The Board of Directors consists of 10 members (6 internal and 4 independent outside directors, including 1 woman), with a Nomination and Compensation Committee (chaired by an outside director) established as an advisory body. The Board of Directors meets 14 times per year, and all members maintain a high attendance rate.
Risk Management
The Group Sustainability Committee leads an annual risk assessment based on impact and likelihood. For material risks related to sustainability issues, each business site and group company Sustainability Committee reviews the status of countermeasures, which is managed through committee meetings attended by the Representative Director and Chairman, directors, and executive officers. A BCP (Business Continuity Plan) has also been established.
Shareholder Returns
For FY2026 (ending March 2026), the annual dividend per share was increased to ¥26 (interim ¥13, year-end ¥13); total dividends paid amounted to ¥4,268 million, with a payout ratio of 59.6%. The annual dividend of ¥26 is expected to be maintained in FY2027 (ending March 2027). During the fiscal year, the company conducted share buybacks totaling ¥10,986 million.
Dividend Policy
The company's basic policy is to pay stable and continuous dividends by implementing a capital policy that balances financial soundness, capital efficiency, and shareholder returns. Dividends are paid twice a year, as an interim dividend and a year-end dividend. For FY2026 (ending March 2026), the annual dividend per share was ¥26 (interim ¥13, year-end ¥13), with total dividends of ¥4,268 million, a payout ratio of 59.6%, and a dividend on equity (DOE) ratio of 1.6%. For FY2027 (ending March 2027), the annual dividend is forecast at ¥26 (interim ¥13, year-end ¥13), with an expected payout ratio of 82.6%. In addition, in FY2026 (ending March 2026), the company spent ¥10,986 million on share buybacks.
ESG
Under its "Zero CO2 2050" declaration, the company has earned CDP ratings of A- for Climate Change, A for Forests, and A for Water Security. It has established materiality across nine ESG items and is advancing a wide range of sustainability initiatives, including CO2 reduction, forest management, human capital management, human rights due diligence, and TCFD/TNFD disclosure.
Last updated: June 25, 2026