<h3>3 Dividend Policy</h3>
The Company prioritizes securing necessary retained earnings to support future business development and strengthen its financial foundation. Since its establishment, the Company has not paid dividends. While the Company recognizes that returning profits to shareholders is one of its most important management priorities, it currently considers itself to be in a growth phase. Therefore, the Company's policy is to prioritize stabilizing its management foundation and focus on building up retained earnings. Retained earnings will be used as a source of funding for medium to long-term business expansion.
In several years, the Company will begin serious consideration of profit distribution to shareholders based on operating results and financial conditions at that time. However, the feasibility and timing of dividend payments have not been determined at this time.
When the Company pays dividends from surplus, it will implement year-end dividends once per year as a basic policy. The Company's Articles of Incorporation provide that matters specified in Article 459, Paragraph 1 of the Companies Act may be determined by resolution of the Board of Directors, except where otherwise provided by law. Furthermore, the Articles of Incorporation specify that the record date for year-end dividends shall be the last day of February each year and the record date for interim dividends shall be the last day of August each year, and that dividends from surplus may also be paid with other record dates as determined.

Currently, as we are in a growth phase, we prioritize stabilizing our management foundation and focus on building up retained earnings. We have maintained a no-dividend policy since our founding. We use retained earnings as capital for medium to long-term business expansion, and plan to consider profit distribution in a few years based on our operating results and financial condition at that time. When we do implement dividends, our basic policy will be to pay dividends once per year at the fiscal year-end.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2025	Actual(2025/04/10)	0	0	0	-
FY2024	Actual(2024/04/11)	0	0	0	-
FY2023	Actual(2023/04/14)	0	0	0	-
FY2022	Actual(2022/04/14)	0	0	0	-
FY2021	Actual(2021/04/14)	0	0	0	-
FY2020	Actual(2021/01/14)	0	0	0	-

(4017) Dividends

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