MCJ Co., Ltd.

<h3 class="smt_head2" style="padding-left:9pt;line-height:13pt;">3 [Dividend Policy]</h3>
Our group considers returning profits to shareholders as one of the most important management priorities. Our basic dividend policy is performance-based distribution aligned with business results. We target a total payout ratio of approximately 30% to 40%, with a dividend payout ratio of at least 30% of net income attributable to parent company shareholders. We also target a dividend on equity (DOE) level of approximately 4.5%.
<p class="smt_text6" style="orphans:0;widows:0;text-align:justify;padding-left:22.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'MS Mincho';letter-spacing:0pt;line-height:14pt;font-size:9pt;">While our basic dividend policy is performance-based distribution, when business results are temporary and profit declines are primarily due to external factors, yet the group's medium to long-term growth prospects and future potential remain unchanged, we will prioritize maintaining year-over-year dividend increases. We will make flexible adjustments within a dividend payout ratio of at least 30% and a total payout ratio of 30% to 40%.
<p class="smt_text6" style="orphans:0;widows:0;text-align:justify;padding-left:22.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'MS Mincho';letter-spacing:0pt;line-height:14pt;font-size:9pt;">Regarding share buybacks, reductions in capital reserve funds, and other surplus distributions, we will comprehensively consider our financial condition, current and anticipated profit levels, ROE levels, availability of growth investment opportunities, and overall market conditions. We will consider appropriate measures to improve capital efficiency.
<p class="smt_text6" style="orphans:0;widows:0;text-align:justify;padding-left:22.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'MS Mincho';letter-spacing:0pt;line-height:14pt;font-size:9pt;">Based on this policy, we will return profits to shareholders while actively investing in growth to achieve sustainable growth and medium to long-term improvement in corporate value. We will flexibly and effectively utilize retained earnings according to business conditions (revenue, M&A, capital expenditure, etc.) and work to strengthen our corporate foundation and market competitiveness from a medium to long-term perspective.
<p class="smt_text6" style="orphans:0;widows:0;text-align:justify;padding-left:22.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'MS Mincho';letter-spacing:0pt;line-height:14pt;font-size:9pt;">Under this policy, we plan to propose a regular dividend of 43 yen per share at the ordinary general meeting of shareholders scheduled for June 25, 2025.
<p class="smt_text6" style="orphans:0;widows:0;text-align:justify;padding-left:22.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'MS Mincho';letter-spacing:0pt;line-height:14pt;font-size:9pt;">Our articles of incorporation provide that interim dividends may be paid with September 30 as the record date by board resolution. However, we currently plan to suspend interim dividends and distribute surplus only once per year as a year-end dividend. The year-end dividend is determined by the shareholders' meeting.
(Note) Surplus dividends for this fiscal year are as follows.
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<h3 class="smt_head2" style="padding-left:19.5pt;font-family:'MS Mincho';text-align:justify;line-height:13pt;font-size:10.5pt;">(Total Payout Ratio for Subsequent Periods)</h3>
<p class="smt_text6" style="orphans:0;widows:0;text-align:justify;padding-left:19.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:10.5pt;font-family:'MS Mincho';letter-spacing:0pt;line-height:13pt;font-size:10.5pt;">We will continue to prioritize shareholder returns as one of our key management indicators. In our new medium-term management plan announced on May 14, 2025 (fiscal years ending March 2026 through March 2028), we will maintain a dividend payout ratio of at least 30% while continuing to pursue consecutive increases in dividend per share, which achieved 12 consecutive years of increases in the previous period. For the total payout ratio, we target a range of 30% to 50% as the center, with an upper limit of approximately 80%.
<p class="smt_text6" style="orphans:0;widows:0;text-align:justify;padding-left:19.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:10.5pt;font-family:'MS Mincho';letter-spacing:0pt;line-height:13pt;font-size:10.5pt;">In accordance with this policy, we announced additional share buybacks on May 14, 2025. The projected total payout ratio for the fiscal year ending March 2026 is 79.5%.
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The Company's basic dividend policy is performance-linked dividends, targeting a dividend payout ratio of 30% or more, a total shareholder return ratio of 30% to 50% (centered around this range, with an upper limit of approximately 80%), and a Dividend on Equity (DOE) of approximately 4.5%. Dividends are paid once annually at the fiscal year-end, with a policy to pursue progressive dividend increases. Retained earnings will be deployed flexibly in response to business conditions, and share buybacks will be considered with a focus on improving capital efficiency, taking into account overall financial conditions.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Revision(2026/02/05)	0	0	44	-
	Forecast(2025/05/14)	0	44	44	36.0%
FY2025	Actual(2025/05/14)	0	43	43	30.1%
	Revision(2025/05/09)	0	43	43	-
	Forecast(2024/05/14)	0	40	40	31.1%
FY2024	Actual(2024/05/14)	0	57	57	46.2%
	Revision(2024/02/05)	0	57	57	-
	Forecast(2023/05/12)	0	34	34	33.3%
FY2023	Actual(2023/05/12)	0	33	33	33.9%
	Forecast(2022/05/13)	0	33	33	31.8%
FY2022	Actual(2022/05/13)	0	32	32	33.9%
	Revision(2022/03/24)	0	32	32	-
	Revision(2022/02/04)	0	30.52	30.52	-
	Revision(2021/11/05)	-	30.52	30.52	-
	Forecast(2021/05/14)	0	30.52	30.52	30.0%
FY2021	Actual(2021/08/05)	0	31	31	-
	Revision(2021/05/14)	0	31	31	30.5%
	Forecast(2020/11/05)	-	29.91	29.91	-
FY2020	Actual(2020/11/05)	0	23.5	23.5	-

MCJ Co., Ltd. (6670) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)