SHIN-NIHON TATEMONO CO.,LTD.

<h3 class="smt_head2">3 [Dividend Policy]</h3>

The Company views returning profits to shareholders as one of its key management policies. While securing internal reserves necessary for future business development, the Company's basic policy is to continue stable dividends with a dividend payout ratio of 30% or higher, taking into account business performance and social conditions in each period.

<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:10.5pt;">The Company's basic policy is to pay dividends twice annually: an interim dividend and a year-end dividend. The interim dividend is decided by the Board of Directors, and the year-end dividend is decided by the shareholders' meeting. Currently, the Company does not pay interim dividends, as it determines profit distribution by assessing annual net income and social conditions. Based on this basic policy, and comprehensively considering the Company's business performance and fundamental principles regarding profit distribution, the dividend per common share has been set at 30 yen.

<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:15pt;"> 

Note: Dividends with a record date in the current fiscal year are as follows: 

<div class="tbld" style="text-align:center;margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:0pt;">
<table cellspacing="0" cellpadding="0" style="border-collapse:collapse;border:solid 0pt #000000;width:482pt;table-layout:fixed;" class="align_center">
<colgroup>
<col style="width:182pt;min-width:182pt;"/>
<col style="width:150pt;min-width:150pt;"/>
<col style="width:150pt;min-width:150pt;"/>
</colgroup>
<tr style="height:24.8pt;min-height:24.8pt;">
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;">Date of Resolution
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;">Total Dividend Amount (Thousands of Yen)
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;">Dividend per Share
</td>
</tr>
<tr style="height:24.8pt;min-height:24.8pt;">
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;"><p class="smt_tblL" style="orphans:0;widows:0;text-align:left;padding-left:5.4pt;padding-right:5.4pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:13pt;font-size:9pt;"><ix:nonNumeric contextRef="FilingDateInstant_Row1Member" format="ixt:dateyearmonthdaycjk" name="jpcrp_cor:DateOfResolutionDividendsOfSurplus">June 28, 2023</ix:nonNumeric><p class="smt_tblL" style="orphans:0;widows:0;text-align:left;padding-left:5.4pt;padding-right:5.4pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:13pt;font-size:9pt;"><ix:nonNumeric contextRef="FilingDateInstant_Row1Member" name="jpcrp_cor:ResolutionDividendsOfSurplus">Annual Shareholders' Meeting Resolution</ix:nonNumeric>
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;"><p class="smt_tblL" style="orphans:0;widows:0;text-align:right;padding-left:5.4pt;padding-right:5.4pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:16pt;font-size:9pt;"><ix:nonFraction contextRef="FilingDateInstant_Row1Member" decimals="-3" scale="3" format="ixt:numdotdecimal" name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" unitRef="JPY">597,019</ix:nonFraction>
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;"><p class="smt_tblL" style="orphans:0;widows:0;text-align:right;padding-left:5.4pt;padding-right:5.4pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:16pt;font-size:9pt;"><ix:nonFraction contextRef="FilingDateInstant_Row1Member" decimals="2" scale="0" format="ixt:numunitdecimal" name="jpcrp_cor:DividendPerShareDividendsOfSurplus" unitRef="JPYPerShares">30 yen</ix:nonFraction>
</td>
</tr>
</table> 
</div>

Our basic dividend policy is to maintain stable dividends with a target payout ratio of 30% or more, while securing internal reserves necessary for future business development and taking into account each period's business performance and social conditions. While our basic policy is to pay dividends twice annually, we currently do not pay interim dividends as we assess the full-year business performance.

SHIN-NIHON TATEMONO CO.,LTD. (E03994) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)