<h3 class="smt_head2">3 [Dividend Policy]</h3><p class="smt_text2" style="orphans:0;widows:0;">The Company believes it is important to first strengthen its financial foundation and actively pursue necessary investments to support sustainable business expansion and growth. Accordingly, the Company has not paid dividends since its founding. However, the Company recognizes returning profits to shareholders as an important management priority. Going forward, the Company will consider dividend payments by comprehensively taking into account future business performance and financial condition, business and investment plans, and the business environment, while maintaining an appropriate balance with retained earnings.</p><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;">The Company intends to effectively utilize retained earnings to strengthen its corporate foundation and as a financial resource for future business development, including strengthening recruitment of personnel with specialized knowledge and experience in conducting M&A advisory business operations, and investing in the establishment of bases necessary for business expansion.</p><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;">The Company's dividend on surplus is paid once per year as a general rule, with the record date for year-end dividends set as October 31. The decision-making authority for dividends rests with the shareholders' meeting. Additionally, the Company's articles of incorporation provide that interim dividends may be paid once per year with a record date of April 30, subject to approval by the Board of Directors.</p><p class="smt_text6" style="orphans:0;widows:0;text-align:justify;padding-left:0pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;font-size:15pt;"> </p>

<p>To strengthen our financial foundation and achieve sustainable business expansion, we prioritize building internal reserves and investment activities. We have maintained a no-dividend policy since our founding. Going forward, we will consider dividend payments while balancing internal reserves, taking into account management performance, financial condition, and our overall business and investment plans. Our basic dividend policy is to pay dividends once annually at the fiscal year-end, with the option to also pay interim dividends.</p>

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2025/12/11)	0	0	0	-
FY2025	Actual(2025/12/11)	0	0	0	-
	Forecast(2024/12/13)	0	0	0	-
FY2024	Actual(2024/12/13)	0	0	0	-
	Forecast(2023/12/14)	0	0	0	-
FY2023	Actual(2023/12/14)	0	0	0	-
FY2022	Actual(2023/12/14)	0	0	0	-

【JP:9236】Dividends

Dividend Policy

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Dividend History (Forecasts, Revisions, Actuals)