<h3>3. Dividend Policy</h3>
Since its founding, our Group has rapidly expanded its business through proactive forward-looking investments. We believe that maximizing retained earnings to fund business expansion—including M&A and real estate development—and strengthening our management foundation will ultimately deliver the greatest value to shareholders by realizing further business growth and maximizing corporate value. For this reason, we have not paid cash dividends since our founding.
However, we recognize that returning profits to shareholders is an important management priority. Going forward, we intend to consider implementing cash dividends based on a comprehensive assessment of our operating performance and financial condition.
As part of our flexible and dynamic approach to shareholder returns, we announced and executed approximately 3.5 billion yen in share buybacks in the current period (completed March 19, 2025). We also plan to execute 3.5 billion yen in share buybacks in the fiscal year ending February 2026 (announced April 14, 2025). Going forward, we will continue to implement share buybacks flexibly with the aim of improving capital efficiency, taking into account our financial position, stock price trends, and other relevant factors.
 
When we pay dividends from retained earnings, we plan to do so twice annually: an interim dividend and a year-end dividend. Our Articles of Incorporation authorize the payment of interim dividends.
The Board of Directors has authority to decide on both year-end and interim dividends.

Our basic policy is to build up retained earnings and allocate them to business expansion investments such as M&A and real estate development, thereby maximizing corporate value. While we have maintained a no-dividend policy since our founding, we will consider implementing profit dividends in the future based on our operating results and financial condition. We will conduct share buybacks flexibly based on our financial situation and stock price trends, with the aim of improving capital efficiency. When dividends are implemented, they will be paid twice per year.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2025/04/14)	0	0	0	-
FY2025	Actual(2025/04/14)	0	0	0	-
	Forecast(2024/04/15)	0	0	0	-
FY2024	Actual(2024/04/15)	0	0	0	-
	Forecast(2023/04/13)	0	0	0	-
FY2023	Actual(2023/04/13)	0	0	0	-
	Forecast(2022/04/14)	0	0	0	-
FY2022	Actual(2022/04/14)	0	0	0	-
	Forecast(2021/04/14)	0	0	0	-
FY2021	Actual(2021/04/14)	0	0	0	-
	Forecast(2021/01/14)	0	0	0	-
FY2020	Actual(2021/01/14)	0	0	0	-

(3479) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

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Dividend History (Forecasts, Revisions, Actuals)