SHINAGAWA REFRA CO.,LTD.
5351・Prime Market・Glass & Ceramics Products
Governance
As a company with an Audit and Supervisory Committee, the Audit and Supervisory Committee, in which highly independent outside directors constitute a majority, is responsible for auditing and oversight, and a voluntary Nomination and Compensation Committee has been established to ensure fairness and transparency in director nominations and compensation. The Board of Directors meets at least once a month to deliberate on management strategy, risk management, sustainability, and other matters.
Risk Management
The Internal Control Committee provides cross-functional oversight of compliance, risk management, information security, and related matters, while the subordinate Risk Management Subcommittee operates the prevention/mitigation cycle for potential risks, including BCP formulation and drills. The Sustainability Committee evaluates short-term and medium-to-long-term risks and opportunities, and a system is in place for regular reporting to the Board of Directors.
Shareholder Returns
Dividend policy to be changed from FY2027 (ending March 2026 -> March 2027) to a progressive dividend policy based on DOE of 4% or more. Annual dividend for FY2026 (ending March 2026) is ¥90 per share (interim ¥45, year-end ¥45), with a payout ratio of 15.7%. Annual dividend of ¥95 is planned for FY2027 (ending March 2027). Share buybacks are minor.
Dividend Policy
For FY2026 (ending March 2026), the annual dividend is ¥90 per share (interim ¥45, year-end ¥45), with total dividends of ¥4,106 million and a payout ratio of 15.7% (below the 40% target for the current fiscal year due to a sharp increase in net income from gains on sale of fixed assets). From FY2027 (ending March 2027), the company will change from its previous policy based on a 40% payout ratio target to a progressive dividend policy based on a consolidated Dividend on Equity (DOE) of 4% or more. The annual dividend for FY2027 (ending March 2027) is planned to be ¥95 per share.
ESG
The company has established a Sustainability Committee chaired by the Representative Director and President, promoting ESG management based on 7 themes and 11 materiality issues. As part of its climate change response, it aims to reduce Scope 1 and 2 CO2 emissions by 50% by 2030 compared to FY2022 levels and to achieve carbon neutrality by 2050. In terms of human capital, the company discloses indicators such as a male childcare leave uptake rate of 71.8%.
Last updated: June 22, 2026