YELLOW HAT LTD.
9882・Prime Market・Wholesale Trade
Governance
A company with a board of corporate auditors, comprising 9 directors (3 outside) and 3 auditors (2 outside). A Nomination and Compensation Committee, composed of independent outside officers and the representative director and president, has been established to ensure transparency and fairness in the selection of director candidates and the determination of compensation. Following the annual general meeting of shareholders in June 2026, the board is scheduled to be reduced to 6 directors (3 outside), and an executive officer system is planned to be introduced.
Risk Management
The General Affairs Department serves as the risk management and compliance oversight unit, distributing the code of conduct based on the "Yellow Hat Charter" to all employees, establishing an internal reporting hotline, and maintaining advisory agreements with legal and tax advisors. The company has established a Sustainability Promotion Committee and a Crisis Management Committee, building a forward-looking risk management framework that includes climate change risk (TCFD response).
Shareholder Returns
Annual dividend for FY2026 (ending March 2026) is ¥62 (interim ¥29 + year-end ¥33), with a payout ratio of 45.0%. For FY2027 (ending March 2027), the company forecasts an annual dividend of ¥68 (interim and year-end ¥34 each), implying a payout ratio of 47.7%. A share buyback (upper limit of 6,000,000 shares / ¥7.5 billion) was also resolved, continuing an active shareholder return policy.
Dividend Policy
The company aims to continue stable dividends targeting a consolidated payout ratio of 30% or more. During the medium-term management plan period (FY2026 (ending March 2026) through FY2028 (ending March 2028)), it targets a payout ratio of 45%, with a policy of achieving a total return ratio of 100% or more cumulatively over three years. Dividends from surplus are paid twice a year (interim and year-end), with the decision-making body being the Board of Directors. The annual dividend for FY2026 (ending March 2026) is ¥62 (interim ¥29 + year-end ¥33, payout ratio 45.0%). Note that the year-end dividend was increased from the originally planned ¥29 to ¥33. For FY2027 (ending March 2027), the company forecasts an annual dividend of ¥68 (interim and year-end ¥34 each, payout ratio 47.7%). A stock split at a ratio of 2 shares for every 1 share of common stock was implemented effective April 1, 2025 (the ¥100 figure for FY2025 (ended March 2025) is the pre-split actual result).
ESG
The company conducted climate change scenario analysis (1.5°C and 4°C) in accordance with TCFD recommendations, setting targets of a 37.8% reduction in GHG emissions by 2030 (versus FY2021, consistent with SBT 1.5°C level) and carbon neutrality by 2050. In terms of human capital, the company aims to build a workforce of 1,900 mechanics and inspectors by FY2028 (ending March 2028), while also promoting diversity (female officer ratio of 16.6%, mid-career hire management ratio of 47.3%).
Last updated: June 23, 2026