BUNKYODO GROUP HOLDINGS CO.,LTD.

<h3>3. Dividend Policy</h3>
The Company recognizes dividend decisions for shareholders as one of its most important management priorities. We believe it is essential to maintain stable dividends for our shareholders while strengthening our corporate foundation through building internal reserves, taking into account future business developments. Our policy is to continue providing stable dividends with increases in mind, taking into consideration the dividend payout ratio as business performance grows.
Under the provisions of Article 459, Paragraph 1 of the Companies Act, the Company is authorized to pay dividends from surplus through board resolution. Additionally, the Company's articles of incorporation provide that interim dividends may be paid with a record date of the end of February each year by board resolution. Our basic policy is to pay dividends twice annually—interim and year-end dividends.
However, regarding dividends for the current fiscal year, the business environment remains challenging. The Company has been implementing business restructuring based on the business rehabilitation plan approved by relevant creditors under the business rehabilitation ADR procedure concluded on September 27, 2019. Given that we remain in the midst of business rehabilitation, and after considering full-year performance and the status of retained earnings, the Board of Directors has determined that strengthening our financial position is the highest priority. Therefore, we have decided to pay no year-end dividend.

Our basic dividend policy is to maintain stable dividends while strengthening our financial position through building up retained earnings, taking into account future business development. We aim to continue providing stable dividends with potential increases as earnings grow, while considering our dividend payout ratio and other factors. We distribute dividends twice annually, with interim and year-end dividends as our standard practice.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2025/10/15)	0	0	0	-
FY2025	Actual(2025/10/15)	0	0	0	-
	Forecast(2024/10/15)	0	0	0	-
FY2024	Actual(2024/10/15)	0	0	0	-
	Forecast(2023/10/13)	0	0	0	-
FY2023	Actual(2023/10/13)	0	0	0	-
	Forecast(2022/10/14)	0	0	0	-
FY2022	Actual(2022/10/14)	0	0	0	-
	Forecast(2021/10/15)	0	0	0	-
FY2021	Actual(2021/10/15)	0	0	0	-
	Forecast(2020/10/15)	0	0	0	-
FY2020	Actual(2020/10/15)	0	0	0	-
FY2019	Actual(2020/10/15)	0	0	0	-

BUNKYODO GROUP HOLDINGS CO.,LTD.【JP:9978】Dividends

Dividend Policy

Dividend per Share

Payout Ratio

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Dividend History (Forecasts, Revisions, Actuals)