SRA Holdings,Inc.

<h3>3. Dividend Policy</h3>
The Company is actively pursuing business investments to improve profitability and ensure growth, with the aim of increasing the enterprise value of the Company and its group. The Company positions "further enhancing shareholder returns" as a key management priority and has established the following dividend policy: to "target a dividend payout ratio of approximately 50% and aim for stable, high dividends," and to "consistently and continuously maintain ROE, an indicator of efficient capital utilization, at 10% or higher."
To clarify the dividend policy for retained earnings, the Company established a dividend policy in October 2022 stating "realize high dividends by considering one-time valuation gains and losses that do not involve cash outflows," ensuring that dividend payments are not directly affected by market conditions such as foreign exchange rates and stock market trends. The Company will continue to examine measures to enhance enterprise value and shareholder value, working to create frameworks that further increase appeal for shareholders.
Regarding dividends for the current fiscal year, as sales, operating profit, and ordinary profit all exceeded full-year forecasts, the Company increased the year-end dividend from the originally planned 90 yen per share by 10 yen to 100 yen per share to further enhance shareholder returns, resulting in an annual dividend of 180 yen per share.
For the next fiscal year, the Company plans a dividend of 180 yen per share (interim dividend of 90 yen and year-end dividend of 90 yen). If this dividend is implemented, the expected dividend payout ratio will be 46.4%.
The Company also considers share buybacks as an effective means of returning profits to shareholders and will respond appropriately while taking into account stock price trends and financial conditions.
The Company's articles of incorporation provide that, except where otherwise prescribed by law, the decision authority for dividend distributions rests with the Board of Directors rather than requiring shareholder approval. This is intended to enable prompt profit returns to shareholders through Board of Directors authority.
The Company's articles of incorporation also provide that interim dividends may be paid by Board of Directors resolution, with September 30 as the record date each year.
Retained earnings will be used to strengthen the revenue base through sustained growth of existing businesses and productivity improvements, establishment of high-profit business models utilizing the Company's own intellectual property products and services, and promotion of overseas business.
The dividend distributions for Fiscal Year 35 are as follows:
<div style="margin-left: 24px">
<table style="table-layout: fixed; width: 440.00000000000000000000000001px" cellpadding="0" cellspacing="0">
<colgroup>
<col style="width: 146.66666666666666666666666667px"/>
<col style="width: 146.66666666666666666666666667px"/>
<col style="width: 146.66666666666666666666666667px"/>
</colgroup>
<tbody>
<tr style="height: 40px">
<td style="vertical-align: middle; width: 146.66666666666666666666666667px; 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: 146.66666666666666666666666667px; 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
(Million Yen)
</td>
<td style="vertical-align: middle; width: 146.66666666666666666666666667px; 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: 146.66666666666666666666666667px; 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">

<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" format="ixt:dateyearmonthdaycjk">November 13, 2024</ix:nonNumeric>

</td>
<td style="vertical-align: middle; width: 146.66666666666666666666666667px; 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">

<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPY" decimals="-6" scale="6" format="ixt:numdotdecimal">1,010</ix:nonFraction>

</td>
<td style="vertical-align: middle; width: 146.66666666666666666666666667px; 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">

<ix:nonFraction name="jpcrp_cor:DividendPerShareDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPYPerShares" decimals="2" scale="0" format="ixt:numdotdecimal">80.00</ix:nonFraction>

</td>
</tr>
<tr style="height: 1.33px">
<td style="vertical-align: middle; width: 146.66666666666666666666666667px; 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">

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

</td>
</tr>
<tr style="height: 1.33px">
<td style="vertical-align: middle; width: 146.66666666666666666666666667px; 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">

<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" format="ixt:dateyearmonthdaycjk">May 14, 2025</ix:nonNumeric>

</td>
<td style="vertical-align: middle; width: 146.66666666666666666666666667px; 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">

<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" unitRef="JPY" decimals="-6" scale="6" format="ixt:numdotdecimal">1,263</ix:nonFraction>

</td>
<td style="vertical-align: middle; width: 146.66666666666666666666666667px; 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">

<ix:nonFraction name="jpcrp_cor:DividendPerShareDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" unitRef="JPYPerShares" decimals="2" scale="0" format="ixt:numdotdecimal">100.00</ix:nonFraction>

</td>
</tr>
<tr style="height: 1.33px">
<td style="vertical-align: middle; width: 146.66666666666666666666666667px; 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">

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

</td>
</tr>
</tbody>
</table>
</div>

Our basic policy is to target stable, high dividends with a payout ratio of approximately 50%, while continuously maintaining ROE of 10% or higher. We implement dividends twice annually and conduct share buybacks appropriately, taking into account stock price trends and financial conditions. Retained earnings are allocated to strengthen our revenue base through growth in existing businesses, utilization of our own IP products, and international expansion.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2027	Forecast(2026/05/13)	100	120	220	50.5%
FY2026	Actual(2026/05/13)	90	110	200	45.1%
	Revision(2025/11/12)	90	100	190	-
	Forecast(2025/05/14)	90	90	180	46.4%
FY2025	Actual(2025/05/14)	80	100	180	67.3%
	Forecast(2024/05/14)	80	90	170	46.5%
FY2024	Actual(2024/05/14)	40	120	160	43.5%
	Revision(2024/02/08)	40	110	150	-
	Forecast(2023/05/18)	40	100	140	48.3%
FY2023	Actual(2023/05/18)	40	100	140	196.8%
	Forecast(2022/05/12)	40	90	130	48.6%
FY2022	Actual(2022/05/12)	40	90	130	44.8%
	Forecast(2021/05/13)	40	80	120	50.2%
FY2021	Actual(2021/05/13)	40	80	120	48.2%
	Forecast(2020/11/05)	40	70	110	-
FY2020	Actual(2020/11/05)	40	70	110	-

SRA Holdings,Inc. (3817) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)