Measures to realize management that is conscious of capital costs and stock prices

① About target indicators

Disclosed on April 12, 2023 (Kosaido Holdings new segment launch and New medium-term management plan formulation status [Interim report] disclosed.

	23.3	24.3	25.3	26.3
Target market capitalization(Billion yen)	80.0	100.0-150.0		+α

② Regarding IR activities

After completing the financial restructuring, we will strengthen IR activities from the time we disclose our growth strategy in May 2022.
・Hold quarterly financial results briefings by CEO
・Implementation of quarterly 1on1 meetings
・Regular company information sessions for individual investors held by CEO
・Exhibiting at the Nikkei IR Fair for individual investors and holding a company briefing session by the CEO
・Implementation of overseas roadshows
・Regular publication of shareholder communications (interim/term-end)

③ Regarding shareholder return measures

Dividends resumed and increased from the second quarter of the fiscal year ending March 2023
*FY03/24 year-end dividend is an estimate. Also, the dividend after the 5-split

Divident per share (yen)	21.3	22.3	23.3	24.3
End of Q2	–	–	7.75	29.47
End of FY	–	–	13.5	5.89
Total	–	–	21.25

④ Trends in each indicator

【Capital profitability trends】

	19.3	20.3	21.3	22.3	23.3
ROE(%)	–	–	2.74	10.57	10.27
ROA(%)	–	–	1.16	5.27	5.58

【Market evaluation】

	22.3Q2	22.3Q3	22.3	23.3Q1	23.3Q2	23.3Q3	23.3	24.3Q1	24.3Q2	24.3Q3
PBR	1.07	0.59	0.61	0.83	1.05	1.55	1.63	1.48	2.04	2.57

Share price before share split is converted to share price after share split.
The share price is the closing price on a monthly timeframe.

	21.9	21.12	22.3	22.6	22.9	22.12	23.3	23.6	23.9	23.12
Share price (yen)	282	160	160	220	281	424	470	420	593	760