CellSeed Inc.

<h3>3. Dividend Policy</h3>
The Company has not paid dividends since its establishment and is not in a position to pay dividends at the end of the current fiscal year.
The Company operates a business model focused on research and development of cell sheet regenerative medicine products and regenerative medicine support products. We are currently in the stage of pursuing early commercialization of our first cell sheet regenerative medicine product. While several more years will be needed before our first cell sheet regenerative medicine product contributes materially to earnings, we plan to continue substantial and ongoing research and development activities that require significant upfront investment. Therefore, we intend to prioritize securing research and development funding by retaining earnings internally for the time being.
However, we recognize that returning profits to shareholders is one of the most important management priorities for the Company. We will continue to consider ways to realize dividends as early as possible, taking into account our business performance and financial condition.
When surplus dividends are paid, we plan to distribute them once annually at the fiscal year-end. The dividend decision-making body is the shareholders' meeting. Additionally, our articles of incorporation provide that interim dividends may be paid by board of directors resolution pursuant to Article 454, Paragraph 5 of the Companies Act, to enable flexible dividend responses.

For the time being, we prioritize retaining earnings internally and securing research and development funding. We are considering how to implement dividends as soon as possible, taking into account our business performance and financial condition. When we do distribute dividends from retained earnings, we plan to do so once per year at the fiscal year-end. Our articles of incorporation also allow for interim dividends if needed.

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(2025/02/13)	0	0	0	-
FY2024	Actual(2025/02/13)	0	0	0	-
	Forecast(2024/02/13)	0	0	0	-
FY2023	Actual(2024/02/13)	0	0	0	-
	Forecast(2023/02/14)	0	0	0	-
FY2022	Actual(2023/02/14)	0	0	0	-
	Forecast(2022/02/14)	0	0	0	-
FY2021	Actual(2022/02/14)	0	0	0	-
	Forecast(2021/08/12)	0	0	0	-
FY2020	Actual(2021/08/12)	0	0	0	-

CellSeed Inc. (7776) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)