NOK Corporation announces dividend increase, director nominees

NOK Corporation announced plans to increase its year-end dividend and nominated a new director, Chikashi Takeda, at its Board of Directors meeting today. The proposed dividend of JPY55.00 per share, up from JPY50.00 in the previous fiscal year, reflects the company's commitment to improving shareholder returns as outlined in its three-year medium-term management plan concluding in March 2026. If approved, the total annual dividend, including the interim dividend of JPY50.00, will be JPY105.00 per share. This compares favorably to the JPY87.50 per share total dividend from the previous fiscal year. Alongside the dividend announcement, NOK nominated Chikashi Takeda, formerly of Olympus Corporation, as a director and Group Chief Financial Officer, replacing the role previously held by Akira Watanabe. This nomination, along with re-elections of current directors, will be subject to shareholder approval at the annual meeting scheduled for June 26, 2025. Takeda's nomination brings experience as an executive at both Astellas Pharma and Olympus. The decisions underline NOK's strategic direction as it aims to strengthen its financial performance and enhance shareholder value.