■Kawabe＜8123＞'s shareholder return strategy

The dividend policy aims to strengthen the management foundation and financial structure, and distribute profits based on performance. The dividend amount is determined taking into account the profit level and dividend payout ratio. For the fiscal year ending March 2024, the dividend is set at 80.0 yen (end-of-period lump sum dividend of 50.0 yen and commemorative dividend for the 100th anniversary of founding of 30.0 yen), an increase of 65.0 yen compared to the previous year. The dividend payout ratio is 54.7%. The dividend forecast for the fiscal year ending March 2025 is 50.0 yen (end-of-period lump sum dividend of 50.0 yen) with a reduction of 30.0 yen compared to the previous year, excluding the commemorative dividend. The dividend payout ratio is 34.2%. The medium-term management plan "2023 NEXT" aims for a dividend payout ratio of over 40% for the fiscal year ending March 2026.

The shareholder benefit system is implemented for shareholders as of the end of March each year. Depending on the number of shares held, the company presents its own products (equivalent to 2,000 yen retail price for 100 shares or more, 5,000 yen for 300 shares or more, 7,000 yen for 500 shares or more, 10,000 yen for 1,000 shares or more).

(Authored by FISCO guest analyst Masanobu Mizuta)