The COVID-19 pandemic caused a slowdown in demand across our industry.8.4% at Dentsu Japan Network, and -13.0% at Dentsu International.Group organic revenue decline was -11.1%. Organic revenue decline impacted revenue by JPY 103.9 bn, M&A contributed JPY 13.8 bn, and currency translation negatively impacted revenues by JPY -14.3 bn.-8.3% at Dentsu Japan Network, and -13.1% (-10.9% on a constant currency basis) at Dentsu International.
Group revenue (LCoS): JPY 835.0 bn (YoY -11.1%, or -9.8% on a constant currency basis). The Board believes that greater clarity on the market is required before earnings and further dividend guidance can be meaningfully resumed for FY2021. Our short-term outlook remains highly dependent on the variable macro outlook and the progress of the pandemic with restrictions still in place across many of our markets, particularly across EMEA and the Americas.The Group aims to progressively raise the dividend payout ratio to 35% of underlying basic EPS over the next few years from FY2021, under our renewed dividend policy in the Mid-Term Management Plan, announced today.This led to a statutory operating loss of JPY 140.6 bn. Previously announced restructuring costs arising from the Comprehensive Review totalled JPY 78.3 bn and an impairment loss, reflecting the downturn caused by the pandemic, was JPY 144.7 bn. FY2020 Group underlying operating margin stabilized at 14.8%, -20 bps yoy as cost savings offset the revenue decline.FY2020, Dentsu Japan Network organic revenue declined -8.4% and Dentsu International organic revenue declined -13.0%, attributed to the unprecedented impact that the continuing COVID-19 pandemic has had on advertising and media markets globally.
Although organic revenue declined -11.1%, it was ahead of guidance with progressive quarterly improvement in organic revenues from Q2 FY2020 onwards.
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