Dividend Policy• Tokai Carbon’s policy to determine profit sharing is based on the earnings performance from a medium-term perspective, with due consideration given to securing sufficient retained earnings while aiming to strengthen the Group-wide business foundation, increase corporate value and pursue shareholders’ interest.• Our basic policy is to distribute dividends of surplus twice a year, an interim dividend and a year-end dividend. The decision-making body of such dividends of surplus is the Shareholders’ Meeting for the year-end dividend, and the Board of Directors for the interim dividend.• Retained earnings will be appropriated to strengthen financial condition and is intended to be used as funds to maintain stable dividend payments.• The Articles of Incorporation provide that an interim dividend may be distributed with a record date of June 30 every year by the resolution of the Board of Directors.2010201120122013201420152016201720182019*Dividends per share (yen)8876666122448Dividend payout ratio (%)66.052.8102.442.740.838.1(11.8)31.123.821.9Dividends per share and dividend payout ratioEditorial PolicyThe Tokai Carbon Group pursues medium-to-long term business strategies to realize its long-term vision of being “A Global Carbon Company Contributing to a Better Society.” This Annual Report presents our business results and outlook, and overviews of individual businesses, from both financial and non-financial perspectives.Our website presents the latest information and details on our businesses and on environmental and social matters. We invite you to visit it to learn more about Tokai Carbon.Issue DateJuly 2019Reporting scopeThis report applies to Tokai Carbon Co., Ltd. and affiliated companies. The scope of applicability for reports with a limited reporting scope shall be indicated separately.Reporting periodExcluding content with specific dates, this report reflects activities between January 1, 2018 and December 31, 2018.DisclaimersThis report contains future-oriented statements based on information available at the time the report was issued. Actual results could vary greatly from forecasts. Factors affecting results include, and are not limited to, economic conditions, raw material prices, product demand/supply trends, product market conditions, and currency exchange rates.Share Owner InformationShareholderNumber of shares held(1,000 shares)Shareholding ratioFinancial Institutions68,658 (32%)Individuals/Others67,684 (32%)Foreign Corporations, etc.47,769 (22%)Japanese Corporations22,038 (10%)Financial Instruments Business Operators7,001 (3%)Total213,150 (99%)10%Japanese Corporations22%Foreign Corporations, etc.3%Financial Instruments Business Operators32%Individuals/Others32%Financial Institutions1. Share numbers are rounded down to the nearest 1,000 shares. 2. The shareholding ratio was calculated excluding treasury stock.(as of December 31, 2018)* 2019=Forecast 201967TOKAI CARBON ANNUAL REPORT 2018
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