Shareholder Returns

Policy on Shareholder Returns

In the three-year Medium-Term Management Plan with the fiscal year ending March 31, 2027 as the final year, the Company had adopted a basic policy for shareholder returns of continuing dividend increases exceeding profit growth with a target payout ratio of at least 35%, together with the flexible repurchase of treasury shares. However, as announced on May 11, 2026 in the notices titled “Notice Concerning Expression of Opinion in Support of Tender Offer for Company Shares by MEDIPAL HOLDINGS CORPORATION, the Parent Company of the Company, and Recommendation to Tender Shares,” “Notice Concerning Dividends of Surplus (No Dividend),” and “Notice Concerning Discontinuation of Acquisition of Treasury Shares and Status of Acquisition of Treasury Shares,” the Company has resolved not to pay interim and year-end dividends for the fiscal year ending March 31, 2027, and to discontinue the acquisition of treasury shares. This decision reflects the fact that, following the tender offer for the Company’s common stock (“the Company Shares”) by MEDIPAL HOLDINGS CORPORATION and a series of subsequent procedures, the Company Shares are expected to be delisted. For further details, please refer to the respective press releases.

Dividend per share

Dividend record date

Shareholders must be registered in the shareholders' register by the dividend record date to receive dividends.

Year-end dividend: March 31
Interim dividend: September 30

Registered shareholders will receive dividend-related documents from the shareholder registry administrator (Mitsubishi UFJ Trust and Banking Corporation, Securities Agent Department) after the dividend amount is determined.

Acquisition of treasury stock