NOVARESE,Inc.

<h3>3. Dividend Policy</h3>
The Company recognizes that capital investments for new store openings and other advance investments are essential for business expansion. Our policy is to strengthen our financial position and build internal reserves that support medium- to long-term growth, while positioning shareholder returns as a key management priority. We implement flexible dividend policies by comprehensively considering profit levels and financial conditions. However, for the current fiscal year, we are not paying dividends in order to strengthen our business operations and financial structure while securing necessary internal reserves for future business development.
We will effectively utilize retained earnings for capital investment and improving our financial position.
When dividends are paid, our basic policy is to distribute them once annually at the fiscal year-end. The dividend decision-making authority rests with the shareholders' meeting.
The Company's articles of incorporation provide that interim dividends as prescribed in Article 454, Paragraph 5 of the Companies Act may be implemented by board of directors resolution.

We will implement a flexible profit distribution policy by comprehensively considering our earnings level and financial condition. When paying dividends, our basic policy is to pay dividends once per year at the fiscal year-end. We will use retained earnings as funds for capital expenditures and to strengthen our financial position.

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(2025/02/14)	0	0	0	-
FY2024	Actual(2025/02/14)	0	0	0	-
	Forecast(2024/02/14)	0	0	0	-
FY2023	Actual(2024/02/14)	0	0	0	-
	Forecast(2023/08/14)	0	0	0	-
FY2022	Actual(2023/08/14)	0	0	0	-

NOVARESE,Inc.【JP:9160】Dividends

Dividend Policy

Dividend per Share

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Dividend History (Forecasts, Revisions, Actuals)