Dividend policy

We recognize the passing on of profits to shareholders as an important management issue, and our basic policy is to issue dividends on a stable, continuous basis (twice a year, with the interim dividend and year-end dividend) while retaining profits internally as needed to strengthen the essential nature of the business and prepare for future expansion.
For the fiscal year ending March 2026, while maintaining the above basic policy, we plan to set the annual dividend at 12 yen per share, taking into consideration the results up to the second quarter and the progress of performance in and after the third quarter.

Trend in dividend and dividend yield

2022/3 2023/3 2024/3 2025/3 2026/3(Expectation)
Interim dividend per share 4.5 yen 4.5 yen 4.5 yen 4.5 yen 5.0 yen
Year-end dividend per share 4.5 yen 4.5 yen 4.5 yen 5.5 yen 7.0 yen
Annual dividend per share 9 yen 9 yen 9 yen 10 yen 12 yen
Dividend yield 2.8 % 2.8 % 2.2 % 3.0 % 2.4 %

Note: The forecast above is a projection by Mitani Sangyo based on information available at the time. Actual performance and the actual dividend may differ from the amount projected because of various factors in the future. And, the dividend yield for the fiscal year ending March 2026 is calculated based on the closing share price of 499 yen as of October 31.