Konami Holdings Corporation Distribution of retained earnings (8983M)

TIDMKNM

RNS Number : 8983M

Konami Holdings Corporation

14 May 2020

 
                                                May 14, 2020 
 
 FOR IMMEDIATE RELEASE 
                    KONAMI HOLDINGS CORPORATION 
                    Kimihiko Higashio, Representative 
                     Director, President 
   Shares listed:   Tokyo and London Stock Exchanges 
 
         Contact:   Junichi Motobayashi, Corporate Officer, 
                     General Manager, Finance and Accounting 
             Tel:   [phone] 
 
 
News Release: Notice Regarding Distribution of Retained Earnings 
 

KONAMI HOLDINGS CORPORATION (the "Company") hereby announces it resolved the dividend amount of retained earnings at the Board of Directors meeting held today with a record date of March 31, 2020, as follows.

The dividend amount will be formally decided at the meeting of its board of directors, after the statutory audit procedures of the financial statements for the fiscal year ended March 31, 2020.

   1.    Dividend distribution 
 
                     Year-end dividend  Previous year-end   Year-end dividend 
                                         dividend forecast   for prior year, 
                                           (announced on          actual 
                                           May 9, 2019)        (year ended 
                                                             March 31, 2019) 
 Record date          March 31, 2020      March 31, 2020     March 31, 2019 
                     -----------------  ------------------  ----------------- 
 Dividend per            7.00 yen           38.00 yen           65.50 yen 
  share                                                       (Regular 40.50 
                                                                   yen) 
                                                              (Commemorative 
                                                                25.00 yen) 
                     -----------------  ------------------  ----------------- 
 Amount of dividend   933 million yen           -           8,858 million yen 
                     -----------------  ------------------  ----------------- 
 Date of payment       June 10, 2020            -             June 12, 2019 
                     -----------------  ------------------  ----------------- 
 Source of dividend  Retained earnings          -           Retained earnings 
                     -----------------  ------------------  ----------------- 
 

Breakdown of annual dividend (reference)

 
                                    Cash dividends per share 
    Record date       Second quarter end       Year end          Annual 
                     ---------------------  ---------------  --------------- 
 Year ended March          38.00 yen           7.00 yen         45.00 yen 
  31, 2020 
                     ---------------------  ---------------  --------------- 
 Year ended March          60.50 yen           65.50 yen       126.00 yen 
  31, 2019 (actual)   (Regular 35.50 yen)    (Regular 40.50   (Regular 76.00 
                      (Commemorative 25.00        yen)             yen) 
                              yen)           (Commemorative   (Commemorative 
                                               25.00 yen)       50.00 yen) 
                     ---------------------  ---------------  --------------- 
 
   2.    Reasons 

As the payment of dividends for the fiscal year ending March 31, 2020 was intended to maintain the same level of regular dividends for the year ended March 31, 2019 which was based on the record profits achieved, the Company announced the year-end dividend forecast for the consolidated year ended March 31, 2020 would be 38.00 yen per share. However, it is a shared value with all shareholders to maintain the foundation for sustainable growth and prepare for its stable management and employment even under the severe business environment for the next fiscal year with concerns from the impact of coronavirus outbreak. Thus, the Company will revise the year-end dividend to be 7.00 yen per share for the fiscal year ended March 31, 2020. Since the dividends on an annual basis will be 45.00 yen per share, including the distributed second-quarter-end dividend (38.00 yen per share), the Company maintains a consolidated payout ratio of more than 30% as our basic policy on the distribution on profits.

As a result, the total annual returns will be 12.6 billion yen (approximately 93.00 yen per share), which includes 6.1 billion yen (45.00 yen per share) of total dividends for the consolidated year ended March 31, 2020, in addition to 6.5 billion yen of treasury shares acquired on March 27, 2020. Thus, the total return ratio will be 63.2%.

End

Cautionary statement with respect to forward-looking statements and other matters:

Statements made in this document with respect to our current plans, estimates, strategies and beliefs, including the above forecasts, are forward-looking statements about our future performance. These statements are based on management's assumptions and beliefs in light of information currently available to it and, therefore, you should not place undue reliance on them. A number of important factors could cause actual results to be materially different from and worse than those discussed in forward-looking statements. Such factors include, but are not limited to: (i) changes in economic conditions affecting our operations; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar and the Euro; (iii) our ability to continue to win acceptance of our products, which are offered in highly competitive markets characterized by the continuous introduction of new products, rapid developments in technology and subjective and changing consumer preferences; (iv) the timing of the release of new game titles and products, especially game titles and products that are part of historically popular series; (v) our ability to successfully expand internationally with a focus on our Digital Entertainment, Amusement, and Gaming & Systems businesses; (vi) our ability to successfully expand the scope of our business and broaden our customer base through our Sports business; (vii) regulatory developments and changes and our ability to respond and adapt to those changes; (viii) our expectations with regard to further acquisitions and the integration of any companies we may acquire; and (ix) the outcome of existing contingencies.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

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May 14, 2020 03:11 ET (07:11 GMT)