Hokuryo Co., Ltd.

<h3>3. Dividend Policy</h3>
<p style="margin-left: 24px; text-align: left">The Company aims to enhance shareholder returns by setting a dividend payout ratio of approximately 30%, taking into account overall business performance and strengthening of the corporate foundation, as well as growing social awareness regarding "management with capital cost consciousness" and "enhanced shareholder return measures."</p>
<p style="margin-left: 24px; text-align: left">The Company's basic policy is to pay dividends once per fiscal year as a year-end dividend. The Board of Directors is the decision-making body for such dividends.</p>
<p style="margin-left: 24px; text-align: left">For the current fiscal year, reflecting business performance, the Company has increased the dividend by 30 yen from the previous period and is implementing a dividend of 70 yen per share (year-end dividend).</p>
<p style="margin-left: 24px; text-align: left">Retained earnings will be reserved for effective investments focused on strengthening the corporate foundation, enhancing future business activities, and reinforcing production and manufacturing facilities to meet market needs.</p>
<p style="margin-left: 24px; text-align: left">Based on the provisions of Article 454, Paragraph 5 of the Companies Act, the Company's Articles of Incorporation provide that "interim dividends may be paid with September 30 as the record date each year by Board of Directors resolution."</p>
<p style="margin-left: 24px; text-align: left">Additionally, the Company's Articles of Incorporation provide that matters specified in Article 459, Paragraph 1 of the Companies Act, including dividend distributions, shall be determined by Board of Directors resolution without requiring a shareholders' meeting resolution, except where otherwise provided by law. This is intended to enable prompt profit distribution to shareholders by vesting dividend authority in the Board of Directors.</p>
<p style="text-align: left"> </p>
<p style="margin-left: 24px; text-align: left">Dividends for the current fiscal year are as follows:</p>
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<p style="line-height: 13.333333333333333333333333333px; text-align: center">Date of Resolution</p>
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<p style="line-height: 13.333333333333333333333333333px; text-align: center">Total Dividend Amount (Million Yen)</p>
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<p style="line-height: 13.333333333333333333333333333px; text-align: center">Dividend Per Share (Yen)</p>
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<p style="margin-left: 6px; margin-right: 4px; text-align: left">May 14, 2025</p>
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<p style="margin-left: 6px; margin-right: 4px; text-align: left">Board of Directors Resolution</p>
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<p style="margin-right: 24px; text-align: right">592</p>
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<p style="margin-right: 24px; text-align: right">70</p>
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<p>Our basic policy is to enhance shareholder returns with a dividend payout ratio of approximately 30% as a target, and we pay dividends once per year at the fiscal year-end. We plan to use retained earnings for effective investments focused on strengthening our corporate foundation, enhancing future business activities, and reinforcing production and manufacturing facilities.</p>

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Revision(2026/02/12)	0	120	120	-
	Revision(2025/11/12)	0	85	85	-
	Revision(2025/08/13)	0	70	70	-
	Forecast(2025/05/14)	0	50	50	28.6%
FY2025	Actual(2025/05/14)	0	70	70	27.1%
	Revision(2025/02/12)	0	54	0	-
	Revision(2024/11/14)	0	40	0	-
	Revision(2024/11/13)	0	40	54	-
	Forecast(2024/05/14)	0	40	40	35.2%
FY2024	Actual(2024/05/14)	0	40	40	20.4%
	Revision(2023/11/14)	0	40	40	-
	Forecast(2023/05/12)	0	20	20	15.3%
FY2023	Actual(2023/05/12)	0	20	20	22.7%
	Revision(2023/02/13)	0	20	20	-
	Revision(2022/11/11)	0	17	17	-
	Forecast(2022/05/13)	0	10	10	37.2%
FY2022	Actual(2022/05/13)	0	15	15	10.7%
	Revision(2021/08/12)	0	15	15	-
	Forecast(2021/05/13)	0	10	10	34.8%
FY2021	Actual(2021/05/13)	0	10	10	63.7%
	Forecast(2020/11/13)	0	10	10	-
FY2020	Actual(2020/11/13)	0	10	10	-

Hokuryo Co., Ltd. (1384) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)