ITEC CORPORATION

<h3>3. Dividend Policy</h3>
The Company regards returning profits to shareholders in accordance with business performance as one of its most important management objectives. Our basic policy is to pay dividends while balancing this with the strengthening of our corporate foundation and building adequate internal reserves to prepare for future business development.
Historically, the Company limited dividend payments to year-end dividends only, as our business model is highly susceptible to fluctuations in steel market conditions. However, recognizing that most companies now pay interim dividends, we decided to implement two dividend payments per year—interim and year-end dividends—beginning in fiscal 2019 to provide more timely profit returns to shareholders.
The decision-making authority for dividend distributions is the shareholders' meeting for year-end dividends and the board of directors for interim dividends.
Regarding the year-end dividend for the current period, although domestic steel sales volumes remain sluggish, raw material prices surged, resulting in steel market prices rising steadily throughout the year. This led to significant improvement in earnings, with operating profit, ordinary profit, and net profit attributable to parent company shareholders all reaching record highs. While the business environment continues to change rapidly due to industry-wide decarbonization efforts and steel market trends, performance remained strong throughout the year. Accordingly, we have set the year-end dividend at 70 yen per share, as previously announced.
Including the interim dividend, the total annual dividend for the current period is 90 yen per share. As a result, the dividend payout ratio for the current period is 18.7%.
Retained earnings will be effectively utilized to strengthen our corporate foundation by expanding business scale and investing in new business ventures to maintain and enhance our competitive position in the future.
The dividend distributions for the current fiscal year are as follows.
 
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Date of Resolution
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Total Dividend Amount
(Thousands of Yen)
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Dividend per Share
(Yen)
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<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" format="ixt:dateyearmonthdaycjk">November 11, 2021</ix:nonNumeric>

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<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPY" decimals="-3" scale="3" format="ixt:numdotdecimal">161,375</ix:nonFraction>

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<ix:nonFraction name="jpcrp_cor:DividendPerShareDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPYPerShares" decimals="0" scale="0" format="ixt:numdotdecimal">20</ix:nonFraction>

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<ix:nonNumeric name="jpcrp_cor:ResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" escape="false">Board of Directors Resolution</ix:nonNumeric>

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<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" format="ixt:dateyearmonthdaycjk">June 29, 2022</ix:nonNumeric>

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<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" unitRef="JPY" decimals="-3" scale="3" format="ixt:numdotdecimal">546,999</ix:nonFraction>

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<ix:nonFraction name="jpcrp_cor:DividendPerShareDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" unitRef="JPYPerShares" decimals="0" scale="0" format="ixt:numdotdecimal">70</ix:nonFraction>

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<ix:nonNumeric name="jpcrp_cor:ResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" escape="false">Annual Shareholders' Meeting Resolution</ix:nonNumeric>

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Our basic policy is to pay dividends while balancing profit returns based on business performance with building up internal reserves. To provide shareholders with flexible profit returns, we have implemented semi-annual dividends since fiscal year 2019. We use internal reserves to expand our business scale and invest in new ventures, with the aim of strengthening our corporate foundation.

ITEC CORPORATION (E01297) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)