Dividend Policy

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Consolidated dividend annual payout ratio target: around 30%
Factors to be considered to return the profit to shareholders include:
- capital requirements for investments to raise corporate value,
- our performance forecast,
- consolidated and non-consolidated balance sheets.
The level of the first-half dividend is determined based on consideration of interim performance figures and forecasts for the full fiscal year performance.
2030 Medium- to Long-Term Management Plan (FY2026–FY2030): Maintain the current dividend policy (target payout ratio of approx. 30%) while introducing a minimum dividend (JPY24 per share).

Dividend of FY2026

As announced at the time of the announcement of the fiscal year ended March 31, 2026 financial results (May 13, 2026), the annual dividend for the fiscal year ended March 31, 2027, considering a minimum annual dividend introduced in the Medium-to Long-Term Management Plan, Nippon Steel intends to distribute a full-year dividend of JPY24 per share (including an interim dividend of JPY12 per share).