Mitsui O.S.K. Lines, Ltd.

<h3>3. Dividend Policy</h3>
The Company's basic management policy is to enhance corporate value through active business investment and to provide direct returns to shareholders through dividends. For fiscal year 2024, the Company will utilize retained earnings to strengthen its financial position while working to enhance per-share corporate value. Based on a consolidated dividend payout ratio policy of 30% (with a minimum dividend per share of 150 yen), the Company plans to pay a dividend of 360 yen per share (interim dividend of 180 yen and year-end dividend of 180 yen).
The year-end dividend (with a record date of March 31 each year) is subject to approval at the shareholders' meeting. The Company's articles of incorporation provide that interim dividends may be paid by board of directors resolution with a record date of September 30 each year.
For shareholder returns in fiscal year 2025, the Company will maintain its current shareholder return policy and pay dividends linked to performance based on a consolidated dividend payout ratio target of 30%. The Company will also maintain the minimum dividend per share of 150 yen.
 
Forward-looking statements in this section are based on judgments made by the Company Group as of the end of this consolidated fiscal year.
 
(Note) Dividends of surplus with record dates falling within this fiscal year are as follows:
<div>
<table style="table-layout: fixed; width: 653.33333333333333333333333333px" cellpadding="0" cellspacing="0">
<colgroup>
<col style="width: 218.66666666666666666666666667px"/>
<col style="width: 217.33333333333333333333333333px"/>
<col style="width: 217.33333333333333333333333333px"/>
</colgroup>
<tbody>
<tr style="height: 26.67px">
<td style="vertical-align: middle; width: 218.66666666666666666666666667px; 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">
Date of Resolution
</td>
<td style="vertical-align: middle; width: 217.33333333333333333333333333px; 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">
Total Dividend Amount
(Millions of Yen)
</td>
<td style="vertical-align: middle; width: 217.33333333333333333333333333px; 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">
Dividend Per Share
(Yen)
</td>
</tr>
<tr style="height: 1.33px">
<td style="vertical-align: middle; width: 218.66666666666666666666666667px; 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">
October 31, 2024
</td>
<td style="vertical-align: middle; width: 217.33333333333333333333333333px; 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">
65,252
</td>
<td style="vertical-align: middle; width: 217.33333333333333333333333333px; 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">
180.0
</td>
</tr>
<tr style="height: 1.33px">
<td style="vertical-align: middle; width: 218.66666666666666666666666667px; 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">
Board of Directors Resolution
</td>
</tr>
<tr style="height: 1.33px">
<td style="vertical-align: middle; width: 218.66666666666666666666666667px; 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">
June 24, 2025
</td>
<td style="vertical-align: middle; width: 217.33333333333333333333333333px; 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">
62,904
</td>
<td style="vertical-align: middle; width: 217.33333333333333333333333333px; 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">
180.0
</td>
</tr>
<tr style="height: 1.33px">
<td style="vertical-align: middle; width: 218.66666666666666666666666667px; 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">
Annual Shareholders' Meeting Resolution (Planned)
</td>
</tr>
</tbody>
</table>
</div>

Our basic policy is to enhance corporate value through aggressive business investment and provide direct returns to shareholders through dividends. We target a consolidated payout ratio of 30% and pay dividends linked to business performance, while maintaining a minimum dividend of 150 yen per share. We conduct semi-annual dividends (interim and year-end) while using retained earnings to strengthen our financial position.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Revision(2026/01/30)	85	115	200	-
	Revision(2025/11/04)	85	90	200	-
	Revision(2025/08/01)	85	75	175	-
	Forecast(2025/04/30)	75	75	150	30.5%
FY2025	Actual(2025/04/30)	180	180	360	30.3%
	Revision(2025/01/31)	180	160	340	-
	Revision(2024/10/31)	180	120	300	-
	Forecast(2024/07/31)	180	100	280	-
FY2024	Actual(2024/07/31)	110	110	220	-
	Revision(2024/01/31)	110	90	200	-
	Revision(2023/10/31)	110	70	190	-
	Forecast(2023/04/28)	100	80	180	31.0%
FY2023	Actual(2023/04/28)	300	260	560	25.4%
	Revision(2022/07/29)	300	200	500	-
	Forecast(2022/04/28)	200	150	350	25.2%
FY2022	Actual(2022/04/28)	300	900	1,200	20.3%
	Revision(2022/01/31)	300	750	1,050	-
	Revision(2021/10/29)	300	500	800	-
	Revision(2021/07/30)	300	250	550	-
	Forecast(2021/04/30)	70	80	150	19.9%
FY2021	Actual(2021/04/30)	15	135	150	19.9%
	Revision(2021/01/29)	15	85	100	-
	Revision(2020/10/30)	15	20	35	-
	Forecast(2020/09/24)	10	-	-	-
FY2020	Actual(2020/09/24)	30	35	65	-

Mitsui O.S.K. Lines, Ltd. (9104) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)