Kanematsu raises dividend despite profit drop in Q1

Kanematsu Corporation reported first-quarter net profit of 7.0 billion yen, down 6.4% year-on-year, while revenue held flat at 251.1 billion yen.

Despite the profit decline, the company raised its annual dividend forecast to 115 yen per share from 90 yen previously, representing a 28% increase as part of its target to return 30-35% to shareholders.