<h3 class="smt_head2">3 [Dividend Policy]</h3>The Company recognizes returning profits to shareholders as an important management priority. However, space technology research and development requires substantial initial capital investment, and the recovery of such investments typically takes a long time. Since its founding, the Company and its group have consistently recorded operating losses and net losses.Under these circumstances, the Company believes that aggressively pursuing development to accelerate market formation, drive growth of the Company and its group, and thereby enhance corporate value will ultimately maximize shareholder value. This principle forms the basis of our dividend policy.The Company intends to effectively utilize retained earnings to strengthen its financial position for long-term stability of its management foundation and to fund investments necessary for future ongoing business operations.Based on the above policy, the Company has prioritized internal reserves over dividend payments since its founding. The timing and other details of future dividend payments remain undetermined.The Company's Articles of Incorporation provide that, pursuant to Article 459, Paragraph 1 of the Companies Act, matters specified in each item may be determined by Board of Directors resolution rather than shareholder approval, except where otherwise provided by law. When distributing surplus, the Board of Directors serves as the decision-making body. The Articles of Incorporation provide that the Company may pay year-end dividends with a record date of April 30 each year and interim dividends with a record date of October 31 each year, as well as other surplus distributions with designated record dates.

Our basic policy is to maximize shareholder returns through market development driven by aggressive R&D investment and enhancement of corporate value. We will effectively utilize retained earnings to strengthen our financial position and fund investments for future business expansion. The timing of dividend payments has not been determined. When dividends are paid, we may implement them at fiscal year-end or as interim dividends.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2025/09/12)	0	0	0	-
FY2025	Actual(2025/09/12)	0	0	0	-
	Forecast(2024/06/13)	0	0	0	-
FY2024	Actual(2024/06/13)	0	0	0	-
FY2023	Actual(2024/06/13)	0	0	0	-

【JP:186A】Dividends

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