The article explores how companies in Southeast Asian countries, including Japan, decide on their dividend payments. They found that factors like financial leverage, return on equity, and corporate governance influence these decisions. The study also showed that firms in the region tend to have a consistent dividend policy and are hesitant to reduce dividends over time. Additionally, the research revealed that last year's dividends and current earnings play a significant role in determining dividend payments. Overall, the findings suggest that companies in these countries have similar dividend policies and are cautious about changing them.