NISSIN KOGYO CO.,LTD.

<h3>3. Dividend Policy</h3>

Operating globally with a worldwide perspective, we are committed to enhancing corporate value while positioning the return of profits to shareholders as one of our highest management priorities.


In allocating profits, we comprehensively consider future capital needs. Our dividend policy is to implement dividends on a stable basis over the long term, taking into account trends in consolidated performance. Retained earnings are allocated to fund product development and business expansion, which are essential for future growth.


For the current fiscal year, we paid an interim dividend of 22.5 yen per share on November 27, 2019. As announced in our notice dated October 30, 2019 regarding the revision of dividend forecasts for the fiscal year ending March 2020 (no dividend) and the discontinuation of the shareholder benefit program, the Board of Directors resolved on October 30, 2019 not to pay a year-end dividend.


Regarding the following fiscal year, no dividend is planned as our common shares are scheduled to be delisted following Honda Motor Co., Ltd.'s tender offer for our shares and the subsequent series of transactions.

The surplus dividends for the current fiscal year are as follows.
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Date of Resolution

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Total Dividend Amount


(Millions of Yen)

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Dividend per Share


(Yen)

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<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" format="ixt:dateyearmonthdaycjk">October 30, 2019</ix:nonNumeric>

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

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Our basic policy is to implement stable dividends while taking a long-term perspective and considering trends in consolidated earnings. We allocate retained earnings to fund product development and business expansion, which are essential for future growth.

NISSIN KOGYO CO.,LTD. (E02235) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)