RS ENERGY K.K.

<h3 class="smt_head2">3 [Dividend Policy]</h3>Our basic policy is to provide stable and attractive dividends to shareholders while considering the Company's operating and financial conditions, financial market trends, and other factors. We also aim to strengthen internal reserves to support the medium- to long-term growth strategies necessary to maximize corporate value.<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 implements two dividend payments annually: a year-end dividend based on March 31 as the record date, approved by the shareholders' meeting, and an interim dividend based on September 30 as the record date, approved by the board of directors under Article 454, Paragraph 5 of the Companies Act. The year-end dividend for the 107th fiscal period was calculated based on a 15-month period from January 1, 2018 to March 31, 2019, following the resolution to change the fiscal year-end approved at the 106th ordinary shareholders' meeting held on March 28, 2018. The next dividend is not planned to be implemented as the Company was delisted on March 27, 2019.<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;">During this consolidated fiscal year, we prioritized providing stable and attractive dividends to shareholders. We implemented an interim dividend of 21 yen per share and a year-end dividend of 85 yen per share. Additionally, the Company executed share buybacks based on a board of directors resolution passed on August 9, 2018.<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;">Internal reserves will be allocated to medium- to long-term growth investments in new businesses centered on the petroleum business and energy solutions business. (Note) The following table shows the resolution dates, total dividend amounts, and dividends per share for surplus dividends with record dates in this fiscal year.
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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;overflow:hidden;">Resolution
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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;overflow:hidden;">Total Dividend Amount (Millions of Yen)
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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;overflow:hidden;"><p class="smt_tblR" style="orphans:0;widows:0;text-align:right;padding-left:0pt;padding-right:4.5pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;font-size:9pt;"><ix:nonFraction contextRef="FilingDateInstant_Row1Member" decimals="2" scale="0" format="ixt:numdotdecimal" name="jpcrp_cor:DividendPerShareDividendsOfSurplus" unitRef="JPYPerShares">21.00</ix:nonFraction>
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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;overflow:hidden;"><p class="smt_tblC" style="orphans:0;widows:0;text-align:center;padding-left:0pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;font-size:9pt;"><ix:nonNumeric contextRef="FilingDateInstant_Row2Member" format="ixt:dateyearmonthdaycjk" name="jpcrp_cor:DateOfResolutionDividendsOfSurplus">December 18, 2018</ix:nonNumeric><p class="smt_tblC" style="orphans:0;widows:0;text-align:center;padding-left:0pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;font-size:9pt;"><ix:nonNumeric contextRef="FilingDateInstant_Row2Member" name="jpcrp_cor:ResolutionDividendsOfSurplus">Extraordinary Shareholders' Meeting</ix:nonNumeric>
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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;overflow:hidden;"><ix:nonFraction contextRef="FilingDateInstant_Row2Member" decimals="-6" scale="6" format="ixt:numdotdecimal" name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" unitRef="JPY">31,656</ix:nonFraction>
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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;overflow:hidden;"><ix:nonFraction contextRef="FilingDateInstant_Row2Member" decimals="2" scale="0" format="ixt:numdotdecimal" name="jpcrp_cor:DividendPerShareDividendsOfSurplus" unitRef="JPYPerShares">85.00</ix:nonFraction>
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Our basic policy is to provide stable and attractive dividends to shareholders while taking into account our management and financial position, as well as trends in financial markets. We distribute dividends twice annually—an interim dividend determined by board resolution and a year-end dividend determined by shareholder resolution. Retained earnings are allocated to medium- and long-term growth investments in our oil business and energy solutions business.

RS ENERGY K.K. (E01070) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)