Hakudo Co.,Ltd.

<h3>3. Dividend Policy</h3>
The Company regards appropriate profit distribution to shareholders as one of its most important management priorities. Our basic policy is to distribute earnings backed by business performance, while also taking into account the strengthening of our financial position and the accumulation of internal reserves necessary for future business development.
Our Articles of Incorporation provide that "interim dividends may be paid with a record date of September 30 each year by resolution of the Board of Directors" and that "dividends of surplus may be paid by resolution of the Board of Directors in accordance with Article 459, Paragraph 1 of the Companies Act."
Regarding the timing of dividends, our Articles of Incorporation provide that surplus dividends may be paid twice annually: as interim dividends and year-end dividends.
Based on the above basic policy, the Board of Directors resolved at its meeting held on May 14, 2025, to pay a year-end dividend of 40 yen per share.
Combined with the interim dividend of 49 yen per share already paid, the annual dividend is 89 yen per share. Regarding internal reserves, we intend to make effective investments to further enhance cost competitiveness and strengthen services that meet market needs in response to anticipated changes in the business environment.
Going forward, we will continue to pursue sustainable growth and enhancement of corporate and shareholder value from a medium- to long-term perspective.
 
The dividends of surplus for this fiscal year are as follows:
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Date of Resolution
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Total Dividend Amount
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Dividend per Share
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<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" format="ixt:dateyearmonthdaycjk">November 13, 2024</ix:nonNumeric>

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<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPY" decimals="-3" scale="3" format="ixt:numdotdecimal">555,746</ix:nonFraction> thousand yen
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<ix:nonFraction name="jpcrp_cor:DividendPerShareDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPYPerShares" decimals="0" scale="0" format="ixt:numdotdecimal">49</ix:nonFraction> yen
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<ix:nonNumeric name="jpcrp_cor:ResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" escape="false">Board of Directors Resolution</ix:nonNumeric>

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<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" format="ixt:dateyearmonthdaycjk">May 14, 2025</ix:nonNumeric>

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<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" unitRef="JPY" decimals="-3" scale="3" format="ixt:numdotdecimal">453,668</ix:nonFraction> thousand yen
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<ix:nonFraction name="jpcrp_cor:DividendPerShareDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" unitRef="JPYPerShares" decimals="0" scale="0" format="ixt:numdotdecimal">40</ix:nonFraction> yen
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<ix:nonNumeric name="jpcrp_cor:ResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" escape="false">Board of Directors Resolution</ix:nonNumeric>

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We consider the appropriate distribution of profits to shareholders as an important management priority. Our basic policy is to distribute earnings backed by business performance, while taking into account the strengthening of our financial position and the buildup of retained earnings. Our articles of incorporation provide for the payment of dividends twice annually—an interim dividend and a year-end dividend. We plan to use retained earnings for strategic investments that enhance our cost competitiveness and strengthen our services.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Revision(2025/11/12)	28	52	80	-
	Revision(2025/08/08)	48	46	80	-
	Forecast(2025/05/14)	48	46	94	45.2%
FY2025	Actual(2025/05/14)	49	40	89	45.1%
	Revision(2024/08/09)	49	36	85	-
	Forecast(2024/05/10)	40	45	85	45.0%
FY2024	Actual(2024/05/10)	35	45	80	47.3%
	Revision(2024/02/09)	35	45	80	-
	Revision(2023/11/09)	35	43	78	-
	Forecast(2023/05/12)	34	43	77	40.6%
FY2023	Actual(2023/05/12)	58	51	109	45.2%
	Revision(2022/11/09)	58	51	109	-
	Forecast(2022/05/13)	50	51	101	40.1%
FY2022	Actual(2022/05/13)	48	67	115	44.0%
	Revision(2022/02/09)	48	62	110	-
	Revision(2021/11/10)	48	48	96	-
	Revision(2021/08/10)	36	46	94	-
	Forecast(2021/05/14)	36	46	82	44.9%
FY2021	Actual(2021/05/14)	0	58	58	51.3%
	Forecast(2021/02/10)	0	38	38	-
FY2020	Actual(2021/02/10)	0	58	58	-

Hakudo Co.,Ltd. (7637) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)