Dividend Policy
The Company’s basic policy is to maintain a sufficient level of shareholders’ equity necessary to ensure the timely and reliable seizure of business opportunities, with the aim of achieving sustainable growth and increasing the corporate value of the Group. The Company has adopted a basic policy of strengthening shareholder returns in accordance with its 2025-2027 Medium-Term Management Plan (hereinafter referred to as the "current Medium-Term Management Plan"), targeting a total payout ratio of 50% or more by maintaining stable dividends and flexibly conducting acquisition of treasury shares. The Company reviewed our cash allocation based on the capital adequacy ratio and decided to further strengthen shareholder returns by raising the shareholder return limit from 22 billion yen to 40 billion yen during the period of the current Medium-Term Management Plan and introducing a progressive dividend at a meeting of the Board of Directors held on August 7, 2025.
The Company’s Articles of Incorporation provide that unless otherwise stipulated, the matters set forth in each item of Article 459, Paragraph 1 of the Companies Act, such as dividends of surplus, shall be determined by resolution of the Board of Directors, not by resolution of the general meeting of shareholders. In principle the Company pays dividends twice each year: interim and year-end dividends.