<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;">The Company has not paid dividends since its founding, prioritizing the retention of earnings necessary for future business development and strengthening of its financial position.
<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;font-size:9pt;">While the Company recognizes profit returns to shareholders as an important management priority, it currently views itself as being in a growth phase. The Company believes that building up retained earnings and allocating them to investments that strengthen profitability and establish business foundations will lead to sustainable and stable profit returns to shareholders in the future through business expansion.
<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 Company intends to use retained earnings effectively to strengthen its financial position, support future business development, and enhance recruitment of talented personnel.
<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 timing and feasibility of dividend implementation are currently undetermined. However, the Company will consider appropriate profit returns to shareholders in the future based on its financial condition and operating results.
<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 Company's Articles of Incorporation provide that dividend distributions may be executed by board resolution in accordance with Article 459, Paragraph 1 of the Companies Act. The Company's basic policy is to pay dividends once annually as year-end dividends. The Company has also adopted the interim dividend system as provided in Article 454, Paragraph 5 of the Companies Act.

Since its founding, the company has not paid dividends. Currently in a growth phase, the company prioritizes retaining earnings internally and allocating them to investments that strengthen profitability and build business infrastructure, aiming for business expansion. Retained earnings will be used to strengthen the financial position, support future business development, and enhance human resource recruitment. When dividends are implemented, the company plans to pay them once annually as a year-end dividend. In the future, the company will consider returning profits to shareholders while taking into account its financial condition and operating results.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2025	Actual(2025/05/13)	0	0	0	-
	Forecast(2024/05/14)	0	0	0	-
FY2024	Actual(2024/05/14)	0	0	0	-
	Forecast(2023/05/11)	0	0	0	-
FY2023	Actual(2023/05/11)	0	0	0	-
FY2022	Actual(2022/05/12)	0	0	0	-
FY2021	Actual(2021/05/14)	0	0	0	-
FY2020	Actual(2020/11/12)	0	0	0	-

(6562) Dividends

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