<h3>3. Dividend Policy</h3>
Our basic policy is to improve business performance, provide stable dividends to shareholders, and strengthen internal reserves to enhance our financial position.
Our basic policy is to pay dividends from surplus earnings once per fiscal year as a year-end dividend. The shareholders' meeting is the decision-making body for such dividend payments.
However, regarding the year-end dividend for the fiscal year ending June 2025, we are undertaking major renovation work at Nishihara City, which has resulted in increased repair expenses. After careful consideration of our financial condition during this construction period and the business environment thereafter, we have decided to forgo the dividend this period.
To address anticipated changes in the operating environment, we will continue comprehensive research and investigation related to real estate development. We intend to make effective investments in future-oriented development strategies and the maintenance and management of existing properties.

Our basic policy is to improve business performance while providing stable dividends to shareholders and strengthening our financial position through retained earnings. Dividends are paid once annually as year-end dividends from surplus, with the shareholders' meeting serving as the decision-making body. We plan to effectively utilize retained earnings for research and development in real estate projects, future development initiatives, and maintenance of existing properties.

(E00362) Dividends

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