<h3>3. Dividend Policy</h3>
<p style="line-height: 24px; text-align: left">　The Company shall pay dividends once per fiscal year at the end of the fiscal period, with the General Meeting of Shareholders serving as the decision-making body. The record date for dividends is set as December 31 each year, and this provision is stipulated in the Articles of Incorporation. As a basic policy, the Company does not pay dividends. This is because our shareholders are members, and we prioritize member interests by providing a more comfortable club experience as our guiding principle. Accordingly, we do not implement dividends and instead focus on building internal reserves to make effective investments in better course development and maintenance, as well as facility improvements.</p>
<p style="line-height: 24px; text-align: left"> </p>

<p>As a basic policy, we do not pay dividends. Instead, we prioritize members' interests and operate under the principle of providing a comfortable club experience to our member shareholders. We retain earnings internally and invest them effectively in course development, maintenance, facility improvements, and other enhancements.</p>

(E04658) Dividends

Dividend Policy

Dividend per Share

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Dividend History (Forecasts, Revisions, Actuals)