<h3 class="smt_head2">3 [Dividend Policy]</h3>The Company adopts a policy of determining dividends by taking into account both the return of profits to resident organizations (of which most of the Company's shareholders are members) through keeping rental rates low, and the need to build up internal reserves to prepare for aging rental facilities.<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:13.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">The Company's Articles of Incorporation provide that surplus dividends may be paid once per fiscal year "by resolution of the shareholders' meeting."<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:13.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">Regarding dividends for the current period, no dividend was paid as the Company determined that sufficient surplus for dividend distribution was not available.

We determine dividends by taking into account both returning profits to resident organizations through lower rental rates and building up internal reserves to prepare for aging rental facilities. Our articles of incorporation stipulate that dividends may be paid once per fiscal year by resolution of the shareholders' meeting.

(E03930) Dividends

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Dividend History (Forecasts, Revisions, Actuals)