Orchestra Holdings has reset its shareholder return plan for the year ending December 2026, lifting its forecast year-end dividend to ¥30 a share from ¥13. The revised payout consists of a ¥25 ordinary dividend plus a ¥5 commemorative dividend tied to the company's 10th anniversary on the Tokyo Stock Exchange. The company said the payment remains subject to approval at the annual shareholders' meeting planned for March 2027.
That is the easy part. The fine print sits in the shareholder benefit. Orchestra said the Digital Gift program will apply to shareholders recorded at each December year-end who own at least 200 shares and have held them continuously for more than one year.
| Feature | Terms |
|---|---|
| Year-end dividend forecast | Previous forecast: ¥13.00. Revised forecast: ¥30.00, made up of ordinary dividend ¥25.00 and commemorative dividend ¥5.00. |
| Prior-year actual | ¥12.00 for the year ended December 2025. |
| Benefit eligibility | Shareholders with 200 shares or more, held continuously for more than 1 year. |
| Continuous-holding test | The same shareholder number must appear on the June and December shareholder registers at least 3 consecutive times while holding 200 shares or more. |
| Benefit content | Digital Gift worth ¥15,000, once a year. |
| Base dates | First base date: December 31, 2026. Next base date: December 31, 2027. For the 2027 benefit, the filing specifies December 2026, June 2027 and December 2027 as the three checks. |
| Company-calculated yields | Benefit yield 7.5%, dividend yield 3.0%, total yield 10.6%. |
"Continuously" is defined more tightly than many retail investors may assume. The holder must appear under the same shareholder number on the June and December shareholder registers at least three consecutive times while owning 200 shares or more. Orchestra said the first base date is planned for December 31, 2026, with the next one on December 31, 2027. For the 2027 benefit, it explicitly said eligible holders must appear on the register at the end of December 2026, the end of June 2027 and the end of December 2027.
The perk itself is an annual Digital Gift worth ¥15,000. Orchestra also published company-calculated yield figures based on a June 1 closing price of ¥995 and a 200-share holding: 7.5 per cent for the benefit, 3.0 per cent for the dividend, and 10.6 per cent in total. Those numbers apply only if the shareholder clears the one-year holding condition.
The read-through is straightforward. Orchestra is offering a visibly larger cash payout, but the non-cash reward is built for holders who stay put, keep at least 200 shares and remain recorded under the same shareholder number. In this disclosure, the small print is doing real work.