HIDAKA COUNTRY CLUB CO.,LTD.

<h3>3. Dividend Policy</h3>
<p style="margin-left: 36px; text-align: left">The Company operates a membership-based golf club and believes that providing members with an enhanced club experience constitutes the primary return of value to shareholders. Accordingly, the Company's basic policy is not to pay dividends. However, should the Company decide to pay dividends, such decision will be made at the shareholders' meeting.</p>
<p style="margin-left: 36px; text-align: left">In accordance with this basic policy, no year-end dividend will be paid for the current fiscal year.</p>
<p style="text-align: left"> </p>

<p>In the operation of membership-based golf clubs, we believe that realizing a better club experience for members constitutes our primary return of profits to shareholders. Accordingly, our basic policy is not to pay dividends. Any dividend payments will be decided at the shareholders' meeting.</p>

HIDAKA COUNTRY CLUB CO.,LTD. (E04641) Dividends

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