KYOSHIN CO.,LTD.

<h3 class="smt_head2">3 [Dividend Policy]</h3>

<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">Our Group views the continuous improvement of corporate value and the return of profits to shareholders as important management priorities. Our basic policy is to pay dividends from retained earnings once per fiscal year at the end of the fiscal period. However, to provide flexible profit returns to shareholders based on company performance, our Articles of Incorporation provide that the Board of Directors may declare interim dividends from retained earnings with a record date of November 30.</p>

<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">The decision-making authority for these dividend payments is the shareholders' meeting for year-end dividends and the Board of Directors for interim dividends.</p>

<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">Retained earnings will be invested effectively in capital expenditures for business expansion and human resource development to respond to anticipated changes in the operating environment.</p>

<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">At the Board of Directors meeting held on July 8, 2019, in response to the increase in consolidated subsidiaries resulting from our aggressive growth strategy, we resolved to change our dividend policy. Specifically, we changed the benchmark for dividends from individual company performance to consolidated performance, and adopted a policy to determine dividend amounts targeting 30% of net income attributable to parent company shareholders. Going forward, we will comprehensively evaluate business developments and maintain dividend levels targeting a 30% consolidated payout ratio.</p>

<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">Regarding the acquisition of treasury stock, we will implement it appropriately while considering financial conditions, stock price trends, and other factors to execute flexible capital policies in response to changes in the business environment.</p>

<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">Based on these policies, the year-end dividend per share for this fiscal year has been set at <span>3.63 yen</span>.</p>

<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">The dividend payments for this fiscal year are as follows.</p>

<p class="smt_unitR" style="orphans:0;widows:0;"> </p>

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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;"><p class="smt_tblC" style="orphans:0;widows:0;text-align:center;padding-left:0pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;">Total Dividend Amount<br/>(Million Yen)</p>
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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;"><p class="smt_tblL" style="orphans:0;widows:0;text-align:justify;padding-left:4.5pt;padding-right:4.5pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;font-size:9pt;"><ix:nonNumeric contextRef="FilingDateInstant_Row1Member" format="ixt:dateyearmonthdaycjk" name="jpcrp_cor:DateOfResolutionDividendsOfSurplus">August 28, 2025</ix:nonNumeric></p><p class="smt_tblL" style="orphans:0;widows:0;text-align:justify;padding-left:4.5pt;padding-right:4.5pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;font-size:9pt;"><ix:nonNumeric contextRef="FilingDateInstant_Row1Member" name="jpcrp_cor:ResolutionDividendsOfSurplus">Annual Shareholders' Meeting</ix:nonNumeric></p>
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<p>The Company's basic policy is to pay dividends once annually at the fiscal year-end, while retaining the flexibility to implement interim dividends based on business performance. The Company targets a consolidated dividend payout ratio of 30% and aims to maintain stable dividend levels. Retained earnings will be allocated to capital expenditures for business expansion and human resources development. Share buybacks will be executed flexibly, taking into account the Company's financial condition and stock price trends.</p>

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2027	Forecast(2026/04/10)	0	7.81	7.81	30.0%
FY2026	Actual(2026/04/10)	0	5	5	55.1%
	Revision(2026/01/13)	0	5	5	-
	Forecast(2025/10/10)	0	2.78	2.78	-
FY2025	Actual(2025/10/10)	0	3.63	3.63	-
	Revision(2025/01/10)	0	7.71	7.71	-
	Forecast(2024/07/09)	0	20.14	20.14	30.0%
FY2024	Actual(2024/07/09)	0	19.46	19.46	30.0%
	Forecast(2023/07/14)	0	7.72	7.72	30.0%
FY2023	Actual(2023/07/14)	0	5.47	5.47	-
	Revision(2023/01/12)	0	5.47	5.47	-
	Forecast(2022/07/08)	0	13.9	13.9	30.0%
FY2022	Actual(2022/07/08)	0	7.54	7.54	30.0%
	Forecast(2021/07/09)	0	7.54	7.54	30.0%
FY2021	Actual(2021/07/09)	0	7.3	7.3	30.0%
	Forecast(2021/01/07)	0	0.4	0.4	-
FY2020	Actual(2021/01/07)	0	19.28	19.28	-

KYOSHIN CO.,LTD. (4735) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)