SALA CORPORATION

<h3>3. Dividend Policy</h3>
The Company's basic policy is to pay dividends from surplus twice per year—an interim dividend and a year-end dividend. The Board of Directors is the decision-making body for these dividend payments.
The Company's Articles of Incorporation provide that, pursuant to Article 459, Paragraph 1 of the Companies Act, the Board of Directors may resolve to pay dividends from surplus.
 
The Company has established the following basic dividend policy:
"Dividends will be maintained at or above the prior period level, with a consolidated dividend payout ratio of 40% or higher, excluding the impact of derivative valuation gains and losses related to foreign exchange forward contracts. Share buybacks will be implemented flexibly, taking into account market conditions and capital efficiency."
 
The Company's consolidated subsidiary, Saura e-Power Co., Ltd., entered into foreign exchange forward contracts in November 2017 to cover payments for foreign currency-denominated import material purchases. As a result, derivative valuation gains and losses from the fair value evaluation of these forward contracts are expected to be recorded each quarter for the foreseeable future.
Since these fair value evaluation differences represent only point-in-time valuations at the fiscal year-end with no accompanying cash flow impact, such fluctuating factors are excluded from the earnings base used for dividend distribution.
Based on this policy, the dividend for the current period consists of an interim dividend of 16 yen per share and a year-end dividend of 16 yen per share, for a total of 32 yen per share.
The consolidated dividend payout ratio, excluding the impact of derivative valuation gains and losses related to foreign exchange forward contracts, is 45.7%. The Company plans to implement dividends for the next period in accordance with the above basic policy.
Retained earnings will be used for capital investments and other funding needs of subsidiaries, as the Company operates as a pure holding company.
The dividends from surplus for the current fiscal year are as follows:
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Date of Resolution
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Total Dividend Amount
(Millions of Yen)
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Dividend per Share
(Yen)
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<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" format="ixt:dateyearmonthdaycjk">July 8, 2025</ix:nonNumeric>

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<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPY" decimals="-6" scale="6" format="ixt:numdotdecimal">1,056</ix:nonFraction>

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<ix:nonFraction name="jpcrp_cor:DividendPerShareDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPYPerShares" decimals="0" scale="0" format="ixt:numdotdecimal">16</ix:nonFraction>

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<ix:nonNumeric name="jpcrp_cor:ResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" escape="false">Board of Directors Resolution</ix:nonNumeric>

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<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" format="ixt:dateyearmonthdaycjk">January 13, 2026</ix:nonNumeric>

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<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" unitRef="JPY" decimals="-6" scale="6" format="ixt:numdotdecimal">1,056</ix:nonFraction>

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<ix:nonFraction name="jpcrp_cor:DividendPerShareDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" unitRef="JPYPerShares" decimals="0" scale="0" format="ixt:numdotdecimal">16</ix:nonFraction>

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<ix:nonNumeric name="jpcrp_cor:ResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" escape="false">Board of Directors Resolution</ix:nonNumeric>

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Our basic dividend policy is to pay dividends twice per year. We aim to maintain dividends at or above the previous fiscal year's level while targeting a consolidated payout ratio of 40% or more, excluding the impact of derivative valuation gains and losses related to foreign exchange hedging. We will flexibly implement share buybacks taking into account market conditions and capital efficiency, while using retained earnings for capital investments at subsidiaries and other purposes.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2026/01/13)	16	17	33	40.8%
FY2025	Actual(2026/01/13)	16	16	32	35.0%
	Forecast(2025/01/14)	16	16	32	41.1%
FY2024	Actual(2025/01/14)	13	17	30	36.6%
	Revision(2024/07/05)	13	17	30	-
	Forecast(2024/01/12)	13	14	27	30.8%
FY2023	Actual(2024/01/12)	13	13	26	27.2%
	Forecast(2023/01/12)	13	13	26	30.7%
FY2022	Actual(2023/01/12)	11	15	26	29.2%
	Revision(2022/07/06)	11	14	25	-
	Forecast(2022/01/12)	11	12	23	29.9%
FY2021	Actual(2022/01/12)	10	13	23	27.7%
	Revision(2021/07/07)	10	12	22	-
	Forecast(2021/01/13)	10	11	21	30.7%
FY2020	Actual(2021/01/13)	10	10	20	35.8%
	Forecast(2020/10/07)	10	10	20	-
FY2019	Actual(2020/10/07)	9	11	20	-

SALA CORPORATION (2734) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)