NIPPON STEEL NISSHIN CO., LTD.

<h3>3. Dividend Policy</h3>
<p style="margin-left: 24px; text-align: left; text-indent: 12px">The Company's basic policy is to distribute appropriate dividends from retained earnings in line with consolidated financial performance, while securing internal reserves necessary for future business development aimed at enhancing corporate value and providing shareholder returns based on future earnings forecasts.</p>
<p style="margin-left: 24px; text-align: left; text-indent: 12px">As a guideline for profit distribution, the Company targets a consolidated dividend payout ratio of 20–30% annually.</p>
<p style="margin-left: 24px; text-align: left; text-indent: 12px">Regarding the frequency of dividends in each fiscal year, the Articles of Incorporation establish record dates for interim and year-end dividends, with two payments per year as the standard practice.</p>
<p style="margin-left: 24px; text-align: left; text-indent: 12px">The Articles of Incorporation provide that matters specified in Article 459, Paragraph 1 of the Companies Act, including dividend distributions, may be determined by Board of Directors resolution, except where otherwise provided by law. Such dividends may be implemented by resolution of either the Board of Directors or the General Meeting of Shareholders.</p>
<p style="margin-left: 24px; text-align: left; text-indent: 12px">For the current fiscal year, the dividend was set at 30 yen per share (including 15 yen interim dividend), determined by comprehensively considering business performance, economic outlook, and the Company Group's business development.<br/>　Internal reserves will be allocated to investments for sustained revenue growth and competitive strengthening aimed at enhancing corporate value, as well as to strengthening the Company's financial position.<br/>　The dividend distribution for the 6th fiscal period is as follows.</p>
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<p style="margin-left: 6px; text-align: center">Resolution Date</p>
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<p style="text-align: center">Total Dividend Amount<br/>(Millions of Yen)</p>
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<p style="text-align: center">Dividend per Share<br/>(Yen)</p>
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<p style="text-align: center">October 27, 2017</p>
<p style="text-align: center">Board of Directors Resolution</p>
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<span style="font-size: 12px">1,646</span>
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<span style="font-size: 12px">15</span>
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<p style="text-align: center">May 16, 2018</p>
<p style="text-align: center">Board of Directors Resolution</p>
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<span style="font-size: 12px">1,646</span>
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<span style="font-size: 12px">15</span>
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<p>We aim to distribute appropriate dividends based on consolidated earnings, targeting a consolidated payout ratio of 20-30% annually. Dividends are paid twice per year as a general rule. We retain earnings to invest in sustainable revenue growth and competitive strengthening to enhance corporate value, as well as to strengthen our financial position.</p>

NIPPON STEEL NISSHIN CO., LTD. (E26712) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)