NICHII GAKKAN COMPANY

<h3>3. Dividend Policy</h3>

The Nichii Group's basic policy is to provide stable and continuous profit returns to shareholders. We formulate our dividend policy on a consolidated basis, taking into account business performance trends from a medium to long-term perspective.


Our basic policy is to pay dividends from surplus twice per year: an interim dividend and a year-end dividend.


The year-end dividend is decided by the shareholders' meeting, while the interim dividend is decided by the board of directors.


For the current fiscal year, we have decided to pay a year-end dividend of 20 yen per share (regular dividend of 20 yen).


Regarding retained earnings, we intend to make effective investments to strengthen our financial position and advance our global strategy in order to respond to anticipated changes in the business environment.

Our articles of incorporation provide that the board of directors may pay an interim dividend with September 30 as the record date each year.
The dividends from surplus for the current fiscal year are as follows.
<div style="margin-left: 24px">
<table style="table-layout: fixed; width: 389px" cellpadding="0" cellspacing="0">
<colgroup>
<col style="width: 155px"/>
<col style="width: 120px"/>
<col style="width: 114px"/>
</colgroup>
<tbody>
<tr>
<td style="width: 154px; border-left: 1px solid transparent; border-right: 1px solid transparent"/>
<td style="width: 119px; border-left: 1px solid transparent; border-right: 1px solid transparent"/>
<td style="border-left: 1px solid transparent; border-right: 1px solid transparent"/>
</tr>
<tr style="min-height: 40px">
<td style="border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: middle">

Date of Resolution

</td>
<td style="border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: middle">

Total Dividend Amount


(Thousands of Yen)

</td>
<td style="border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: middle">

Dividend per Share


(Yen)

</td>
</tr>
<tr style="min-height: 1.33000004291534px">
<td style="border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px none #000000; vertical-align: middle">

<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" format="ixt:dateyearmonthdaycjk">November 12, 2019</ix:nonNumeric>

</td>
<td rowspan="2" style="border-left: 1px none #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: middle">

<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row1Member" unitRef="JPY" decimals="-3" scale="3" format="ixt:numdotdecimal">1,288,359</ix:nonFraction>

</td>
<td rowspan="2" style="border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: middle">

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

</td>
</tr>
<tr style="min-height: 1.33000004291534px">
<td style="border-left: 1px solid #000000; border-top: 1px none #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: middle">

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

</td>
</tr>
<tr style="min-height: 1.33000004291534px">
<td style="border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px none #000000; vertical-align: middle">

<ix:nonNumeric name="jpcrp_cor:DateOfResolutionDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" format="ixt:dateyearmonthdaycjk">June 24, 2020</ix:nonNumeric>

</td>
<td rowspan="2" style="border-left: 1px none #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: middle">

<ix:nonFraction name="jpcrp_cor:TotalAmountOfDividendsDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" unitRef="JPY" decimals="-3" scale="3" format="ixt:numdotdecimal">1,306,718</ix:nonFraction>

</td>
<td rowspan="2" style="border-left: 1px solid #000000; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: middle">

<ix:nonFraction name="jpcrp_cor:DividendPerShareDividendsOfSurplus" contextRef="FilingDateInstant_Row2Member" unitRef="JPYPerShares" decimals="0" scale="0" format="ixt:numdotdecimal">20</ix:nonFraction>

</td>
</tr>
<tr style="min-height: 1.33000004291534px">
<td style="border-left: 1px solid #000000; border-top: 1px none #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: middle">

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

</td>
</tr>
</tbody>
</table>
</div>

Our basic policy is to provide stable and continuous profit returns to shareholders. We establish our dividend policy on a consolidated basis, taking into account medium to long-term business performance trends. We aim to pay dividends twice per year—an interim dividend and a year-end dividend. We intend to use retained earnings to strengthen our financial position and fund strategic investments for global expansion.

NICHII GAKKAN COMPANY (E04930) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)