Shareholder Returns and Dividends

Dividend Policy

In order to return profits to shareholders and to realize sustainable corporate growth, our fundamental policy is to pay dividends after comprehensively considering the consolidated results for each term, the dividend payout ratio, and internal reserves. Under "Value Creation 3000 & 300“, our new Medium-term Business Plan, we continue our basic policy of a progressive dividend, avoiding a dividend reduction, and we will also consider flexible share buybacks.

Record Date for Dividends

Interim Dividend	September 30
Year-end Dividend	May 31

Dividends Per Share (DPS) Trend

FY		FY2020	FY2021	FY2022	FY2023	FY2024	FY2025(Forecast)
Dividend per share (yen)	Interim	49	50	50	52	56	66
	Year-End	58	58	59	60	70	70
	Total	107	108	109	112	126	136
Payout ratio (%)		64.9	53.8	69.3	47.3	47.3	46.6