<h3 class="smt_head2">3 [Dividend Policy]</h3>The Company recognizes the continuous expansion of corporate value and the return of profits to shareholders as important management priorities. However, at this time, we believe it is important to strengthen our financial position and build up internal reserves to enhance system infrastructure for service delivery. Accordingly, we have continued a policy of paying no dividends.Going forward, our basic dividend policy will prioritize building internal reserves to strengthen our financial position in the near term. We will then consider returning profits to shareholders while taking into account our financial condition, operating results, and business developments.When distributing surplus earnings, our Articles of Incorporation provide that year-end dividends may be paid to shareholders or registered pledgees of shares listed or recorded in the final shareholder register as of May 31 each year, subject to approval by the shareholders' meeting. Additionally, our Articles of Incorporation provide that interim dividends may be paid to shareholders or registered pledgees of shares listed or recorded in the final shareholder register as of November 30 each year, subject to approval by the Board of Directors.

Our policy prioritizes strengthening internal reserves to enhance our financial position and invest in system improvements for service delivery. We will consider returning profits to shareholders while taking into account our financial condition, business performance, and operational developments. When dividends are paid, they will be distributed twice annually—as interim and year-end dividends. Our articles of incorporation stipulate that year-end dividends are approved by shareholder resolution, while interim dividends are approved by board resolution.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Revision(2026/01/14)	0	15	15	-
	Forecast(2025/07/15)	0	0	0	-
FY2025	Actual(2025/07/15)	0	0	0	-
	Forecast(2025/01/14)	0	0	0	-
FY2024	Actual(2025/01/14)	0	0	0	-

(277A) Dividends

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