Shareholder return The dividend policy of NEC Capital Solution <8793> is based on maintaining stable dividends, while securing internal reserves necessary for investment in growth strategies and strengthening financial health, and reviewing appropriate dividend levels taking into account market trends and performance fluctuations. For the dividend of the 2024 fiscal year, a dividend of 130 yen per share (including an interim dividend of 65 yen) with a 20 yen increase compared to the previous fiscal year will be implemented. Regarding the dividend for the fiscal year ending March 2025, the company plans to pay a dividend of 150 yen per share (including an interim dividend of 75 yen) with a 20 yen increase compared to the dividend in the fiscal year ending March 2024, taking into account the profit forecast. The company plans to reward shareholders in accordance with the dividend policy, as it plans to achieve the highest profit on the profit side as a profit forecast. As a result, the company's dividend payout ratio reaches 40.4%. The actual PBR (price-to-book ratio) is in the 0.7x range and is below the PBR 1.0x that the Tokyo Stock Exchange is requesting improvement. Therefore, we believe that the company will actively pursue initiatives to strengthen shareholder return policies along with profit growth in the future, and the trend of increased dividends will continue.

Since its establishment, Genie <6562> has prioritized securing internal reserves necessary for future business expansion and financial strengthening, and has not implemented dividends. Regarding the return of profits to shareholders, it is set as an important management issue, and believes that aiming for business expansion by allocating investments for enhancing profitability and business infrastructure will lead to stable and sustainable profit returns in the future.

As a non-dividend return strategy, starting from August 2021, the company acquired 310,000 treasury shares over a year, and additionally acquired 5,625,000 shares from SoftBank in July 2024. Furthermore, since March 2022, the "Genie Premium Benefit Club" shareholder benefits system has been implemented. With the aim of expanding shareholders who hold shares in the medium to long term, starting from 2024, the criteria for shareholder benefits will be changed, and shareholders holding 6 units (600 shares) or more listed or recorded in the shareholder register as of the end of March each year will be eligible to receive shareholder benefits points based on the number of shares held. Shareholders can exchange accumulated points for over 5,000 types of products including gourmet food such as rice and branded beef, sweets and beverages, fine spirits, consumer electronics, etc.

(Writer: FISCO analyst Tomoichi Murase)