<h3 class="smt_head2">3 [Dividend Policy]</h3>The Company has not paid dividends since its establishment, as we believe that building up internal reserves is important for strengthening our financial position toward long-term stability of our management foundation and for the continuous expansion and development of our business. However, we recognize maximizing shareholder value as one of our important management objectives. Regarding future dividend distributions to shareholders, we will consider them in a balanced manner with internal reserves, taking into comprehensive account business performance trends, financial condition, and future business and investment plans.We intend to use internal reserve funds effectively as resources for strengthening our financial position toward long-term stability of our management foundation and for realizing continuous expansion and development of our business.Our Articles of Incorporation provide that matters specified in Article 459, Paragraph 1 of the Companies Act regarding dividend distributions may be determined by Board of Directors resolution, except where otherwise provided by law.<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;font-size:9pt;">Our Articles of Incorporation also provide that the record date for dividend distributions shall be March 31 for year-end dividends and September 30 for interim dividends, and that dividends may be distributed with other record dates as determined.<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;font-size:9pt;">We are submitting a proposal for "Partial Amendment to the Articles of Incorporation" as an agenda item at the ordinary general meeting of shareholders scheduled for June 25, 2025. If this proposal is approved, the record date for year-end dividends is expected to change to April 30.

We consider dividends by comprehensively taking into account business performance trends, financial condition, and future business and investment plans, while maintaining a balance with retained earnings. We use retained earnings to strengthen our financial position for long-term business stability and to fund the continuous expansion and development of our operations.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2025/05/14)	0	0	0	-
FY2025	Actual(2025/05/14)	0	0	0	-
	Forecast(2024/05/10)	0	0	0	-
FY2024	Actual(2024/05/10)	0	0	0	-
FY2023	Actual(2024/05/10)	0	0	0	-

(147A) Dividends

Dividend Policy

Dividend per Share

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Dividend History (Forecasts, Revisions, Actuals)