Kotobuki Spirits Co.,Ltd.

<h3>3. Dividend Policy</h3>
<p style="margin-left: 24px; text-align: left">The Company recognizes returning profits to shareholders as an important management priority. Our basic policy is to make consistent profit returns to shareholders over the long term by comprehensively considering internal reserves, business performance levels, dividend payout ratios, and other factors.</p>
<p style="margin-left: 24px; text-align: left">Regarding the frequency of surplus dividends, our basic policy is to pay year-end dividends once annually. However, in preparation for potential interim dividend payments in the future, the Company's Articles of Incorporation provide that "interim dividends may be paid to shareholders or registered pledgees of shares, with a record date of September 30 each year, by resolution of the Board of Directors."</p>
<p style="margin-left: 24px; text-align: left">For the year-end dividend of the current fiscal year, based on the above basic policy, we plan to pay an ordinary dividend of 32 yen per share (no interim dividend).</p>
<p style="margin-left: 24px; text-align: left">Retained earnings will be used to further strengthen our management foundation and support future business development.</p>
<p style="margin-left: 24px; text-align: left">The record dates for surplus dividends are March 31 each year for year-end dividends and September 30 each year for interim dividends, as specified in the Articles of Incorporation. The decision-making body for year-end dividends is the shareholders' meeting, and for interim dividends is the Board of Directors.</p>
<p style="margin-left: 24px; text-align: left">Surplus dividends for the current fiscal year are as follows:</p>
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<p style="line-height: 13.333333333333333333333333333px; text-align: center">Date of Resolution</p>
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<p style="line-height: 13.333333333333333333333333333px; text-align: center">Total Dividend Amount</p>
<p style="line-height: 13.333333333333333333333333333px; text-align: center">(Million Yen)</p>
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<p style="line-height: 13.333333333333333333333333333px; text-align: center">Dividend per Share</p>
<p style="line-height: 13.333333333333333333333333333px; text-align: center">(Yen)</p>
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<p style="margin-left: 5.9333333333333333333333333333px; margin-right: 5.9333333333333333333333333333px; text-align: left">
<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" format="ixt:dateyearmonthdaycjk">June 24, 2025</ix:nonNumeric>
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<p style="margin-right: 11.933333333333333333333333333px; text-align: right">
<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPY" decimals="-6" scale="6" format="ixt:numdotdecimal">4,939</ix:nonFraction>
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<p style="margin-right: 11.933333333333333333333333333px; text-align: right">
<ix:nonFraction name="jpcrp_cor:DividendPerShareDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPYPerShares" decimals="2" scale="0" format="ixt:numdotdecimal">32.00</ix:nonFraction>
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<p style="margin-left: 5.9333333333333333333333333333px; margin-right: 5.9333333333333333333333333333px; text-align: left">
<ix:nonNumeric name="jpcrp_cor:ResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" escape="false">Ordinary General Meeting of Shareholders (planned)</ix:nonNumeric>
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<p style="margin-left: 24px; text-align: left">Regarding future profit returns, the Company has newly established the medium- to long-term management targets "Value Up Vision 2030." Under this plan, for the fiscal years ending March 2026 through March 2030, the Company will target a total shareholder return ratio of 50% or higher, implementing dividend increases in line with profit growth and executing flexible share buybacks.</p>

<p>We view returning profits to shareholders as an important management priority. Our basic policy is to provide profit returns by comprehensively considering retained earnings, business performance levels, and dividend payout ratios. Dividends are paid once annually at the fiscal year-end. From the fiscal year ending March 2026 onwards, we plan to increase dividends in line with profit growth while targeting a total return ratio of 50% or more, and to flexibly execute share buybacks. Retained earnings will be used to strengthen our management foundation and support future business development.</p>

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2025/05/13)	0	35	35	40.8%
FY2025	Actual(2025/05/13)	0	32	32	41.0%
	Revision(2025/04/11)	0	28	32	-
	Forecast(2024/05/14)	0	28	28	36.9%
FY2024	Actual(2024/05/14)	0	28	-	40.2%
	Revision(2023/11/01)	0	25	-	-
	Revision(2023/08/01)	0	14	14	-
	Forecast(2023/05/15)	0	70	70	27.7%
FY2023	Actual(2023/05/15)	0	70	70	31.0%
	Revision(2023/03/16)	0	70	30	-
	Forecast(2022/05/13)	0	30	30	27.5%
FY2022	Actual(2022/05/13)	0	30	30	48.7%
	Forecast(2021/11/04)	0	30	30	-
FY2021	Actual(2021/05/13)	0	30	30	-
	Forecast(2020/11/04)	0	30	30	-
FY2020	Actual(2020/11/04)	0	40	40	-

Kotobuki Spirits Co.,Ltd. (2222) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)