Tsuburaya Fields Sets Record Special Dividend of ¥70 for Ultraman's 60th
Tsuburaya Fields announced on the 27th a special interim dividend of ¥70 per share to commemorate the 60th anniversary of Ultraman. The total payout of ¥4,357 million marks the company's largest dividend ever. With earnings set to exceed initial plans, the move underscores a commitment to boosting shareholder returns.
Special Dividend Details
Tsuburaya Fields will pay a special dividend of ¥70 per share, with a record date of September 30, 2026. The total dividend amount is ¥4,357 million, and the payment date is December 1, 2026. Both the previous period (second quarter of the fiscal year ended September 2025) and the latest dividend forecast (announced on May 12, 2026) had projected ¥0, making this an effective increase. The dividend is classified as an interim payment, broken down as 0 ordinary interim dividend and ¥70 special dividend. This is the company's first interim dividend and, compared with past records, the largest dividend amount since its founding. The dividend will be sourced from retained earnings, highlighting a direct return to shareholders while maintaining financial soundness. The decision was made by the board of directors under the company's articles of incorporation for interim dividends.
Strong Performance Drives Payout
The company cited strong current-term performance as the reason for the special dividend. Earnings are expected to significantly exceed initial plans, reflecting the results of ongoing efforts to strengthen its business foundation. In particular, the 60th anniversary of its flagship IP "Ultraman" appears to have boosted content business and pachinko/pachislot machine sales. President Hidetoshi Yamamoto commented, "We place the highest priority on returning profits to shareholders, and we will pay a special dividend that reflects our strong current-term earnings." The message that a portion of excess earnings will be directly returned is seen as aiming not only for short-term stock price support but also for expanding the long-term investor base. While the quarterly report has yet to be disclosed, the market is already factoring in an upward revision of full-year earnings.
Future Shareholder Return Policy
The special dividend is not a one-off event; the company disclosed that it plans to implement interim dividends on an ongoing basis from the next fiscal year onward. This marks a significant shift in dividend policy, signaling a move to semi-annual dividends. Previously, only year-end dividends were paid. The introduction of interim dividends enhances predictability for investors. While higher dividend yields and a broader shareholder base are expected, the stability of earnings to fund such payouts will be key. Tsuburaya Fields stated it "will strive for further corporate value improvement and stable profit returns," which can be interpreted as confidence in its ability to generate sustainable cash flow. The global expansion of anime and tokusatsu IP and growth in the digital business will determine future dividend capacity, making it a focal point whether this measure remains a lasting change.
Analyst take
From an analyst perspective, the special dividend is not just a commemorative payout but a stepping stone to regular interim dividends. It demonstrates the improved profitability and stable cash flow of the IP business. However, the balance with the payout ratio and free cash flow needs verification in future disclosures. While reducing dependence on the pachinko-centric revenue structure remains a challenge, if content revenue continues to expand, the currently undervalued stock could be re-evaluated.

