The Nippon Kayaku Group regards returns to our shareholders as important.
We will maintain an annual dividend of 45 yen or more, with a target dividend payout ratio of 40% or more during KV25, FY2022－2025 mid-term business plan.
We intend to be flexible in acquiring treasury shares as part ofprofit return while ensuring sufficient retained earnings.
Retained earnings will be used for capital investments, R&D expenses,etc. in business growth for future development to enhance corporatevalue.

(Yen)	2007/03	2008/03	2009/03	2010/03	2011/03	2012/03	2013/03	2014/03	2015/03	2016/03	2017/03	2018/03	2019/03	2020/03	2021/03	2022/03	2023/03	2024/03	2025/03(Forecast)
2Q	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	12.50	12.50	12.50	15.00	15.00	15.00	15.00	15.00	20.00	22.50	22.50
Year-end	10.00	10.00	10.00	10.00	10.00	10.00	10.00	15.00	12.50	17.50	17.50	15.00	15.00	15.00	15.00	25.00	25.00	22.50	22.50
Total	20.00	20.00	20.00	20.00	20.00	20.00	20.00	25.00	25.00	30.00	30.00	30.00	30.00	30.00	30.00	40.00	45.00	45.00	45.00
Dividend payout ratio	55.0%	54.8%	97.7%	36.8%	27.9%	31.8%	29.4%	27.1%	28.9%	31.2%	33.2%	33.6%	35.0%	40.4%	40.7%	39.3%	50.4%	181.4%	-

Acquisition period	Method of acquisition	Total number of shares to be acquired	Total acquisition cost＊
From May 21, 2024 to September 30, 2024	Purchase on the Tokyo stock Exchange	2,374,800shares	3.0 billion yen
From November 9, 2022 to March 31, 2023	Purchase on the Tokyo stock Exchange	2,561,500 shares	3.0 billion yen
From May 24, 2021 to September 30, 2021	Purchase on the Tokyo stock Exchange	2,634,500 shares	3.0 billion yen
From November 8, 2019　to March 31, 2020	Purchase on the Tokyo stock Exchange	2,350,000 shares	3.0 billion yen
From November 6, 2015 to September 30, 2016	Purchase on the Tokyo stock Exchange	8,000,000 shares	9.5 billion yen