Policy of deploying retained earnings for growth investments and paying no dividends for the time being

「2026年3月16日に公表した前回予想では、中間配当を1株当たり20円、期末配当を同25円、年間配当を同45円としていたが、今回の修正により、中間配当を5円増配して同25円、期末配当を5円増配して同30円とし、年間配当を同55円へ10円引き上げる予定としている。」

「In addition, regarding the interim dividend for the 24th fiscal year (1 February 2026 to 31 January 2027), the Board of Directors resolved at its meeting held on 10 September 2026 to pay an interim dividend as follows to shareholders recorded in the shareholder register as of 31 July 2026: ① Total dividends: ¥267.179 million; ② Dividend per share: ¥25.00; ③ Effective date of dividend payment claim and payment commencement date: 14 October 2026.」

「We will raise the P/E ratio by promoting understanding of our growth potential and strengthening shareholder returns.」

「The annual dividend for the current fiscal year was set at ¥80 per share, including an interim dividend of ¥30, an increase of ¥35 from the previous fiscal year, or ¥40 on a post-share-split basis. For the next fiscal year, after comprehensively considering the basic policy described above, the business environment and earnings outlook, the company plans to increase the annual dividend by ¥5 per share to ¥45, including an interim dividend of ¥20.」

「Regarding the interim dividend for the 23rd fiscal year (1 February 2025 to 31 January 2026), the Board of Directors resolved at its meeting held on 11 September 2025 to pay an interim dividend as follows to shareholders recorded in the shareholder register as of 31 July 2025: ① Total dividends: ¥160.086 million ② Dividend per share: ¥30.00 ③ Effective date of dividend payment claim and payment commencement date: 15 October 2025」

「The annual dividend for the current fiscal year was set at ¥45 per share, including an interim dividend of ¥15, an increase of ¥30 from the previous fiscal year, after taking into consideration the basic policy described above, the current fiscal year's operating results and the outlook. For the next fiscal year, after comprehensively considering the basic policy described above, the business environment and earnings outlook, the company plans to increase the annual dividend by ¥5 per share to ¥50, including an interim dividend of ¥20.」

「Regarding the interim dividend for the 22nd fiscal year (1 February 2024 to 31 January 2025), the Board of Directors resolved at its meeting held on 12 September 2024 to pay an interim dividend as follows to shareholders recorded in the shareholder register as of 31 July 2024: ① Total dividends: ¥79.840 million ② Dividend per share: ¥15.00 ③ Effective date of dividend payment claim and payment commencement date: 15 October 2024」

「Based on the policy described above, the Company paid the dividend of surplus for the current fiscal year as follows. For the next fiscal year, it plans to pay an annual dividend of ¥15.00 per share, including an interim dividend of ¥5.00, the same annual amount as in the current fiscal year, in order to further promote growth investment to expand its earnings base.」

「7 September 2023 Board of Directors Common shares 26,857 5.00 31 July 2023 16 October 2023 Retained earnings」

「Regarding the interim dividend for the 21st fiscal year (1 February 2023 to 31 January 2024), the Board of Directors resolved at its meeting held on 7 September 2023 to pay an interim dividend as follows to shareholders recorded in the shareholder register as of 31 July 2023: ① Total dividends: ¥26.857 million ② Dividend per share: ¥5.00 ③ Effective date of dividend payment claim and payment commencement date: 16 October 2023」

「Based on the policy described above, the Company paid its first dividend since its founding during the current fiscal year. For the next fiscal year, it plans to pay an annual dividend of ¥15.00 per share, including an interim dividend of ¥5.00, the same annual amount as in the current fiscal year, in order to further promote growth investment to expand its earnings base.」

「Regarding the interim dividend for the 20th fiscal year (1 February 2022 to 31 January 2023), the Board of Directors resolved at its meeting held on 8 September 2022 to pay an interim dividend as follows to shareholders recorded in the shareholder register as of 31 July 2022: ① Total dividends: ¥26.854 million ② Dividend per share: ¥5.00 ③ Effective date of dividend payment claim and payment commencement date: 17 October 2022」

「Regarding the interim dividend for the 20th fiscal year (1 February 2022 to 31 January 2023), the Board of Directors resolved at its meeting held on 8 September 2022 to pay an interim dividend as follows to shareholders recorded in the shareholder register as of 31 July 2022: ① Total dividends: ¥26.854 million ② Dividend per share: ¥5.00 ③ Effective date of dividend payment claim and payment commencement date: 17 October 2022」

「Accordingly, the Company has paid no dividends since its founding, including in the previous fiscal year, and plans to pay no dividend for the current fiscal year after taking its financial position and operating results into consideration. For the next fiscal year, it will pay a dividend for the first time since its founding as a return to shareholders. At present, the Company places emphasis on dividends as a shareholder return measure, with a policy of stable dividend payments and a goal of increasing them sustainably in line with the growth of the Group.」

「The Company believes that it is still in the growth phase and that strengthening retained earnings and allocating them to investments to strengthen its corporate structure, improve business efficiency and expand its operations will provide the greatest return to shareholders.」