■ Shareholder Returns Policy

JSH <150A> positions shareholder returns as one of the important management issues, but as of the end of March 2024, the retained earnings are minus 4.32 billion yen, and it will continue to refrain from distributing dividends for the time being, judging that it is necessary to enhance internal reserves to improve corporate value. While there is a high possibility that the retained earnings will turn positive by the end of March 2027, the policy is to comprehensively determine the timing of starting dividends based on performance, financial situation, capital needs, etc.

(Written by FISCO guest analyst, Jo Sato)