NIHON DENGI CO., LTD.

<h3>3. Dividend Policy</h3>
Our basic policy is to implement capital allocation while balancing "growth investments," "shareholder returns," and "financial soundness" to enhance corporate value over the medium to long term. We target a consolidated ROE of 12.5% or higher as our key management indicator and aim to realize aggressive growth investments and shareholder returns based on our cost of capital.
Regarding shareholder returns, unless significant events occur that materially impact earnings, we will implement progressive dividends based on a DOE (consolidated dividend payout ratio on shareholders' equity) of 5%, and will conduct flexible share buybacks.
Our basic policy is to distribute retained earnings twice per fiscal year: an interim dividend and a year-end dividend. The interim dividend is decided by the Board of Directors, and the year-end dividend is decided by the General Meeting of Shareholders.
For the current fiscal year, based on the above basic policy, the year-end dividend is planned at 81 yen per share. Combined with the interim dividend of 82 yen per share already paid, the total annual dividend is planned at 163 yen per share.
The Company implemented a stock split at a ratio of 2 shares for each 1 ordinary share, effective January 1, 2025. Therefore, the interim dividend paid on November 5, 2024 is on a pre-split basis, while the year-end dividend to be approved at the Ordinary General Meeting of Shareholders scheduled for June 26, 2025 is on a post-split basis.
The Company's Articles of Incorporation provide that the Board of Directors may declare an interim dividend with September 30 as the record date each year.
The dividends of retained earnings for the current fiscal year are as follows:
<div style="margin-left: 30px">
<table style="table-layout: fixed; width: 389px" cellpadding="0" cellspacing="0">
<colgroup>
<col style="width: 155px"/>
<col style="width: 120px"/>
<col style="width: 114px"/>
</colgroup>
<tbody>
<tr style="height: 40px">
<td style="vertical-align: middle; width: 155px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; background-color: #FFFFFF">
Date of Resolution
</td>
<td style="vertical-align: middle; width: 120px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; background-color: #FFFFFF">
Total Dividend Amount
(Millions of Yen)
</td>
<td style="vertical-align: middle; width: 114px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; background-color: #FFFFFF">
Dividend per Share
(Yen)
</td>
</tr>
<tr style="height: 1.33px">
<td style="vertical-align: middle; width: 155px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 0px none ; background-color: #FFFFFF">
November 5, 2024
</td>
<td style="vertical-align: middle; width: 120px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 0px none #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; background-color: #FFFFFF" rowspan="2">
659
</td>
<td style="vertical-align: middle; width: 114px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 0px none #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; background-color: #FFFFFF" rowspan="2">
82
</td>
</tr>
<tr style="height: 1.33px">
<td style="vertical-align: middle; width: 155px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 1px solid #000000; border-top: 0px none ; border-right: 1px solid #000000; border-bottom: 1px solid #000000; background-color: #FFFFFF">
Board of Directors Resolution
</td>
</tr>
<tr style="height: 1.33px">
<td style="vertical-align: middle; width: 155px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 0px none ; background-color: #FFFFFF">
June 26, 2025
</td>
<td style="vertical-align: middle; width: 120px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 0px none #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; background-color: #FFFFFF" rowspan="2">
1,302
</td>
<td style="vertical-align: middle; width: 114px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 0px none #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; background-color: #FFFFFF" rowspan="2">
81
</td>
</tr>
<tr style="height: 1.33px">
<td style="vertical-align: middle; width: 155px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 1px solid #000000; border-top: 0px none ; border-right: 1px solid #000000; border-bottom: 1px solid #000000; background-color: #FFFFFF">
Ordinary General Meeting of Shareholders Resolution (Planned)
</td>
</tr>
</tbody>
</table>
</div>

Our basic dividend policy is progressive dividends based on a DOE (consolidated payout ratio) target of 5%, while also implementing flexible share buybacks as appropriate. We pay dividends twice annually—interim and year-end dividends—as a standard practice. With a target consolidated ROE of 12.5% or higher, we prioritize balancing growth investments, shareholder returns, and financial soundness.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Revision(2026/01/28)	61	91	152	-
	Forecast(2025/05/07)	61	71	132	32.6%
FY2025	Actual(2025/05/07)	82	81	-	30.3%
	Revision(2025/04/23)	82	77	-	-
	Revision(2024/11/05)	82	74	-	-
	Forecast(2024/05/07)	82	94	176	32.6%
FY2024	Actual(2024/05/07)	76	108	184	31.4%
	Forecast(2023/05/08)	76	84	160	40.1%
FY2023	Actual(2023/05/08)	10	142	152	38.4%
	Revision(2023/04/26)	10	142	150	-
	Revision(2022/11/02)	10	140	150	-
	Forecast(2022/05/06)	10	98	108	30.1%
FY2022	Actual(2022/05/06)	10	104	114	30.1%
	Revision(2022/04/27)	10	104	106	-
	Forecast(2021/05/07)	10	96	106	30.0%
FY2021	Actual(2021/05/07)	10	115	125	30.1%
	Revision(2021/04/27)	10	115	125	-
	Revision(2021/01/29)	10	100	110	-
	Forecast(2020/11/02)	10	82	110	-
FY2020	Actual(2020/11/02)	10	109	119	-

NIHON DENGI CO., LTD. (1723) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)