Japan Communications Inc.

<h3>3. Dividend Policy</h3>
(1) Basic Policy on Dividends
For companies developing new markets, we believe that returns to shareholders should come through market expansion, company growth, and the resulting increase in market capitalization and stock price appreciation.
At the current stage, our company expects significant growth opportunities both in the Japanese and global markets through: the evolution of our MVNO business model and growth in mobile communication services (MVNO/MVNE business); and the advancement of mobile solutions (MSP business), including local mobile network communications (Local 4G/5G) and FPoS business. Therefore, we believe that reinvesting profits generated from business operations and capturing business opportunities appropriately is the best way to meet shareholder expectations.
Based on the above, we currently have no plans to pay dividends from retained earnings. Regarding share buybacks, we will implement them appropriately based on financial condition and stock price trends when the Board of Directors determines such action is necessary to execute flexible capital policies in response to changes in the business environment.
We will continue to pursue new market development and aim to increase our market capitalization as a result.
 
(2) Basic Policy on Dividend Frequency per Fiscal Year and Decision-Making Authority
Our Articles of Incorporation provide that "interim dividends may be paid with September 30 as the record date by Board of Directors resolution." This allows for dividend payments twice per fiscal year as interim and year-end dividends.
The decision-making authority for dividend payments is the shareholders' meeting for year-end dividends and the Board of Directors for interim dividends. However, please note that the existence of dividend provisions in the Articles of Incorporation does not necessarily mean dividends will be paid.
As stated in "(1) Basic Policy on Dividends" above, we currently do not plan to pay dividends.
 
(3) Approach to Dividend Decisions for the Current Fiscal Year
Based on "(1) Basic Policy on Dividends" above, no dividends will be paid in the current fiscal year.

The company believes that returns to shareholders should primarily come through increases in market capitalization and stock price appreciation. Given significant growth opportunities in the business, profits are allocated to reinvestment rather than dividends. While the Articles of Incorporation provide for semi-annual dividends, the company currently has no plans to pay dividends. Share buybacks will be implemented as needed based on financial conditions and other factors, as part of flexible capital management.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2025/05/08)	0	0	0	-
FY2025	Actual(2025/05/08)	0	0	0	-
	Forecast(2024/05/09)	0	0	0	-
FY2024	Actual(2024/05/09)	0	0	0	-
	Forecast(2023/05/10)	0	0	0	-
FY2023	Actual(2023/05/10)	0	0	0	-
	Forecast(2022/05/10)	0	0	0	-
FY2022	Actual(2022/05/10)	0	0	0	-
	Forecast(2021/05/06)	0	0	0	-
FY2021	Actual(2021/05/06)	0	0	0	-
	Forecast(2020/11/05)	0	0	0	-
FY2020	Actual(2020/11/05)	0	0	0	-

Japan Communications Inc. (9424) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)