TSE:4751Media
CyberAgent’s ¥11.6b Internal Dividend Raises New Questions About Capital Allocation Discipline (TSE:4751)
Earlier this year, CyberAgent, Inc. announced it will receive ¥11,603 million in dividends from nine subsidiaries, booking this as non-operating income in its non-consolidated results for the fiscal year ending September 30, 2026, without changing its consolidated financial statements.
This internal dividend stream highlights how CyberAgent can tap cash flows from its subsidiaries to fine-tune its parent-level balance sheet and capital allocation.
We’ll now explore how this large subsidiary...