HIKARI BUSINESS FORM CO., LTD.

<h3>3. Dividend Policy</h3>
<p style="margin-left: 36px; text-align: left">Our basic policy is to determine dividend amounts on a stable basis by comprehensively considering the current fiscal year's performance, future business developments and earnings outlook, and internal reserves needed to strengthen our corporate foundation.</p>
<p style="margin-left: 36px; text-align: left">We distribute dividends twice annually as a basic policy: interim dividends and year-end dividends. The interim dividend is decided by the Board of Directors, while the year-end dividend is decided by the General Shareholders' Meeting.</p>
<p style="margin-left: 36px; text-align: left">For the current fiscal year, the year-end dividend per share is set at 20.00 yen. We have also paid an interim dividend of 18.00 yen per share, bringing the total annual dividend to 38.00 yen per share.</p>
<p style="margin-left: 36px; text-align: left">We intend to use retained earnings effectively for new business development to build a strong corporate foundation, timely reinvestment, and investments in various measures to establish future management foundations, such as strengthening cost competitiveness.</p>
<p style="margin-left: 36px; text-align: left">The dividend distribution for the current fiscal year is as follows:</p>
<div style="margin-left: 30px">
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<col style="width: 155px"/>
<col style="width: 120px"/>
<col style="width: 114px"/>
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<td style="vertical-align: middle; width: 155px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="margin-left: 6px; text-align: center">Date of Resolution</p>
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<td style="vertical-align: middle; width: 120px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 0px none ; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="text-align: center">Total Dividend Amount<br/>(Thousands of Yen)</p>
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<td style="vertical-align: middle; width: 114px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 0px none ; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="text-align: center">Dividend per Share<br/>(Yen)</p>
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<tbody>
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<p style="text-align: center">
<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" format="ixt:dateyearmonthdaycjk">August 8, 2024</ix:nonNumeric><br/><ix:nonNumeric name="jpcrp_cor:ResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" escape="false">Board of Directors Resolution</ix:nonNumeric>
</p>
</td>
<td style="vertical-align: middle; width: 120px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 0px none ; border-top: 0px none ; border-right: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="margin-right: 12px; text-align: right">
<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPY" decimals="-3" scale="3" format="ixt:numdotdecimal">100,654</ix:nonFraction>
</p>
</td>
<td style="vertical-align: middle; width: 114px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 0px none ; border-top: 0px none ; border-right: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="margin-right: 12px; text-align: right">
<ix:nonFraction name="jpcrp_cor:DividendPerShareDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPYPerShares" decimals="2" scale="0" format="ixt:numdotdecimal">18.00</ix:nonFraction>
</p>
</td>
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<tr style="height: 38px">
<td style="vertical-align: middle; width: 155px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 1px solid #000000; border-top: 0px none ; border-right: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="text-align: center">
<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" format="ixt:dateyearmonthdaycjk">March 28, 2025</ix:nonNumeric><br/><ix:nonNumeric name="jpcrp_cor:ResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" escape="false">Annual General Shareholders' Meeting Resolution</ix:nonNumeric>
</p>
</td>
<td style="vertical-align: middle; width: 120px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 0px none ; border-top: 0px none ; border-right: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="margin-right: 12px; text-align: right">
<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" unitRef="JPY" decimals="-3" scale="3" format="ixt:numdotdecimal">111,138</ix:nonFraction>
</p>
</td>
<td style="vertical-align: middle; width: 114px; padding-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; border-left: 0px none ; border-top: 0px none ; border-right: 1px solid #000000; border-bottom: 1px solid #000000">
<p style="margin-right: 12px; text-align: right">
<ix:nonFraction name="jpcrp_cor:DividendPerShareDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" unitRef="JPYPerShares" decimals="2" scale="0" format="ixt:numdotdecimal">20.00</ix:nonFraction>
</p>
</td>
</tr>
</tbody>
</table>
</div>
<p style="margin-left: 36px; text-align: left"> </p>

<p>Our basic policy is to determine dividend amounts stably by comprehensively considering business performance, future business developments, and internal reserves needed to strengthen our corporate foundation. We distribute dividends twice annually as a general rule: interim dividends and year-end dividends. We effectively utilize retained earnings for investments in various initiatives to establish our management foundation, including new business development and strengthening cost competitiveness.</p>

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2026/02/10)	25	25	50	128.1%
FY2025	Actual(2026/02/10)	20	25	45	162.3%
	Revision(2025/11/10)	20	25	45	-
	Forecast(2025/02/13)	20	20	40	63.5%
FY2024	Actual(2025/02/13)	18	20	38	131.6%
	Forecast(2024/05/10)	18	20	38	-
FY2023	Actual(2024/02/13)	-	35	35	26.4%
	Forecast(2023/05/11)	-	35	35	-
FY2022	Actual(2023/05/11)	-	50	50	-
	Revision(2022/12/07)	-	50	45	-
	Forecast(2022/02/10)	-	18	18	29.6%
FY2021	Actual(2022/02/10)	-	35	35	24.6%
	Revision(2021/11/09)	-	28	28	-
	Revision(2021/08/10)	-	23	23	-
	Forecast(2021/02/10)	-	18	18	65.0%
FY2020	Actual(2021/02/10)	-	23	23	37.5%
	Forecast(2020/11/06)	-	18	18	-
FY2019	Actual(2020/11/06)	-	23	23	-

HIKARI BUSINESS FORM CO., LTD. (3948) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)