ReproCELL Incorporated

<h3>3. Dividend Policy</h3>
The Company has not paid dividends since its establishment and is not currently in a position to do so. Going forward, we will continue to conduct research and development activities requiring substantial upfront investments on a continuous and planned basis. Therefore, our policy is to prioritize securing research and development funds by retaining earnings internally for the time being.
However, we recognize that returning profits to shareholders is an important management priority. We will consider implementing dividends at an early stage, taking into account future business performance and financial conditions.
When distributing surplus earnings, we plan to pay dividends once annually at the fiscal year-end. The dividend decision-making authority rests with the shareholders' meeting. Additionally, our Articles of Incorporation provide that interim dividends may be paid by board of directors resolution pursuant to Article 454, Paragraph 5 of the Companies Act, enabling us to respond to dividend opportunities flexibly.

The Company currently does not pay dividends. For the time being, the Company prioritizes securing funds for research and development and maintains a policy of retaining earnings internally. In the future, the Company will consider implementing dividends at an early stage, taking into account business performance and financial condition. When dividends are implemented, the Company will base its policy on an annual year-end dividend.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2025/05/14)	0	0	0	-
FY2025	Actual(2025/05/14)	0	0	0	-
	Forecast(2024/05/13)	0	0	0	-
FY2024	Actual(2024/05/13)	0	0	0	-
	Forecast(2023/05/12)	0	0	0	-
FY2023	Actual(2023/05/12)	0	0	0	-
	Forecast(2022/05/13)	0	0	0	-
FY2022	Actual(2022/05/13)	0	0	0	-
	Forecast(2021/05/12)	0	0	0	-
FY2021	Actual(2021/05/12)	0	0	0	-
	Forecast(2020/11/12)	0	0	0	-
FY2020	Actual(2020/11/12)	0	0	0	-

ReproCELL Incorporated【JP:4978】Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)