Village Vanguard CO.,LTD.

<h3>3. Dividend Policy</h3>
<p style="margin-left: 24px; text-align: left">We recognize that returning profits to our shareholders is a critical management priority. We believe it is important to provide stable profit returns to shareholders while strengthening our corporate foundation through building internal reserves, taking into account future business developments. Our policy is to increase profit returns in line with business performance growth.</p>
<p style="margin-left: 24px; text-align: left">Our basic policy is to pay dividends once per fiscal year as a year-end dividend. The dividend decision-making authority rests with the shareholders' meeting. Additionally, our articles of incorporation provide that the Board of Directors may declare an interim dividend with a record date of November 30 each year.</p>
<p style="margin-left: 24px; text-align: left">Regarding the fiscal year ending May 2025, net income fell below initial projections, resulting in insufficient retained earnings available for dividend distribution. Accordingly, no dividend was paid.</p>

<p>We recognize returning profits to shareholders as a top management priority. Our basic policy is to strengthen our corporate foundation through building internal reserves while providing stable profit returns to shareholders. We return profits in line with business performance growth, with dividends paid once annually as a year-end dividend as a general rule.</p>

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2025	Actual(2025/10/10)	0	0	0	-
FY2024	Actual(2024/07/12)	0	0	0	-
FY2023	Actual(2023/07/14)	0	0	0	-
FY2022	Actual(2022/07/15)	0	0	0	-
FY2021	Actual(2021/07/15)	0	0	0	-
FY2020	Actual(2020/10/15)	0	0	0	-

Village Vanguard CO.,LTD. (2769) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)