MatsukiyoCocokara & Co. announced that the Company has formulated a medium-term management plan covering the period from the Fiscal Year ending March 31, 2026, to the Fiscal Year ending March 31, 2031. In this medium-term management plan, with the basic concept of "co-creating and sharing value," the company priority evaluation criteria is as to whether the business can sustainably earn money for sustainable growth.

The company basic approach is to co- create value with all stakeholders and return the earnings gained through the business, which has guided it to the management targets for the Group. Based on this concept, the Company has made changes to revise upward the quantitative targets for DOE and dividend payout ratio in order to further enhance and strengthen returns to shareholders. There is no change in company policy regarding progressive dividends and share repurchases.

Changes: (Before the change) The Company regards the return of profits to shareholders as one of the primary management priorities. To this end, the Company strives to strengthen its management foundation and improve profitability and aims to pay a dividend based on progressive dividends, with a DOE (dividend on equity (consolidated)) of 3% or more and a payout ratio (consolidated) of 30% or more. In addition, the Company will purchase its own shares in a flexible manner, taking into consideration its financial condition and stock price levels.

(After the change) The Company regards the return of profits to shareholders as one of the primary management priorities. To this end, the Company strives to strengthen its management foundation and improve profitability and aims to pay a dividend based on progressive dividends, with a DOE (dividend on equity (consolidated)) of 6% and a payout ratio (consolidated) of 50%. In addition, the Company will purchase its own shares in a flexible manner, taking into consideration its financial condition and stock price levels.

Time of change The Company will apply the above dividend policy starting with the year-end dividend for the Fiscal Year ended March 31, 2025.