<h3>3. Dividend Policy</h3>
The Company regards returning profits to shareholders as an important management priority. However, as we are currently in a growth phase, we believe that strengthening our cost competitiveness, reinforcing our technology and manufacturing development capabilities to meet market needs, and making strategic investments for business expansion will ultimately deliver the greatest returns to our shareholders in response to anticipated changes in the business environment.
For this reason, we have not paid dividends since our founding. For the foreseeable future, we plan to build up internal reserves to fund investments in new business initiatives and working capital necessary for expanding existing operations. We will consider returning profits to shareholders in the future by taking into account the financial condition and operating results of each fiscal year. However, at this time, the possibility of implementing dividends and the timing of such implementation remain undetermined.
While the Company currently does not pay dividends, if we implement dividends in the future, we plan to distribute surplus twice annually through interim dividends and year-end dividends.
The decision-making authority for these surplus distributions is the shareholders' meeting for year-end dividends and the board of directors for interim dividends.
The Company's articles of incorporation provide that "the board of directors may resolve to pay interim dividends with December 31 as the record date each year."

Since our founding, we have not paid dividends. For the foreseeable future, we plan to build up retained earnings to fund investments in new business development and working capital for expanding existing operations. In the future, we will consider returning profits to shareholders by taking into account the financial condition and business performance of each fiscal year. When we do implement dividends, we plan to pay them twice per year.

(E32456) Dividends

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