Dividends and Shareholder Benefit Program

Basic Policy for Profit Distribution

The Company considers the return of profits to its shareholders to be one of the important missions of the management, and has established the basic policy of maintaining stable dividends while taking into consideration securing the internal reserves and reinforcing financial standing for the future business expansion. The profit distribution has been made by the basic policy and comprehensively considering business performance levels. The Company has set the target for the consolidated payout ratio of approximately 20% over the medium to long-term basis.

Dividends paid in recent fiscal years

In light of the Basic Policy for Profit Distribution described above and comprehensive consideration of the need to build internal reserves for strengthening management practices and ensuring the sustainable growth of business in the future, the Company paid 30.00 yen per share as the year-end dividend for the fiscal year ended December 31, 2018.

*MUGEN ESTATE conducted a 2-for-1 split which became effective as of July 1, 2016.

Shareholder Benefit Program

MUGEN ESTATE, while appreciating the ongoing support of its shareholders, seeks to increase the value of its stock, increase the number of shareholders who own its shares for the medium to long term, and establish a more open governance structure by encouraging many people to own its shares. With these goals in mind, the Company has been undertaking shareholder incentive programs.

① Eligible Shareholders

Shareholders listed or recorded in the share registry at the end of the second quarter of each year (June 30), who hold one unit (100 shares) or more of the Company’s shares.

② Benefit

MUGEN ESTATE's original QUO CARD (1,000 yen).

※ Year 2018 designed.

③ Scheduled delivery

Mid to end of September.