D.Western Therapeutics Institute, Inc.

<h3>3. Dividend Policy</h3>
<p style="margin-left: 24px; text-align: left">The Company has not paid dividends since its founding and does not have sufficient financial capacity to pay dividends under the Companies Act as of the end of the current fiscal year. For the time being, the Company prioritizes building internal reserves and preparing for continued research and development activities. However, the Company recognizes shareholder returns as an important management objective and intends to consider dividend payments in light of its financial condition and operating results at the appropriate time. When dividends are paid, the Company plans to distribute them once per year at the fiscal year-end. The shareholders' meeting is the decision-making body for dividend approval.</p>
<p style="margin-left: 24px; text-align: left">Additionally, the Company's articles of incorporation provide that interim dividends as prescribed in Article 454, Paragraph 5 of the Companies Act may be executed by board of directors resolution.</p>
<p style="text-align: left"> </p>

<p>Our policy prioritizes building internal reserves to support ongoing research and development activities. We view returning profits to shareholders as an important management priority. We will consider dividend payments by taking into account our financial position and operating results. When dividends are paid, we plan to distribute them once per year at the fiscal year-end.</p>

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2026/02/13)	0	0	0	-
FY2025	Actual(2026/02/13)	0	0	0	-
	Forecast(2025/02/10)	0	0	0	-
FY2024	Actual(2025/02/10)	0	0	0	-
	Forecast(2024/02/09)	0	0	0	-
FY2023	Actual(2024/02/09)	0	0	0	-
	Forecast(2023/02/13)	0	0	0	-
FY2022	Actual(2023/02/13)	0	0	0	-
	Forecast(2022/02/10)	0	0	0	-
FY2021	Actual(2022/02/10)	0	0	0	-
	Forecast(2021/02/12)	0	0	0	-
FY2020	Actual(2021/02/12)	0	0	0	-
	Forecast(2020/11/12)	0	0	0	-
FY2019	Actual(2020/11/12)	0	0	0	-

D.Western Therapeutics Institute, Inc. (4576) Dividends

Dividend Policy

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Dividend History (Forecasts, Revisions, Actuals)