Dividends and Shareholder Benefit Program

• Dividend policy
• Dividend status
• Shareholders' benefit program

Dividend policy

Distribution of profit to shareholders is an important management issue. However, in consideration of recent performance, we regrettably decided not to pay dividends in the fiscal year ended March 2020.

Dividend status

Shareholders' benefit program

Leopalace21's benefit program for shareholders is aimed at informing more shareholders of the Leopalace21 Group's products and services and increasing the number of people who own Leopalace21 shares over long periods. However, we have carefully examined the shareholder benefits program from the perspective of thoroughly reducing selling, general and administrative expenses and others, as a part of reviewing the business strategies. Consequently, we have decided to abolish the shareholder benefits program. We regret to abolish the shareholder benefits program and stop giving complimentary tickets and discount coupons to the shareholders who are listed on the shareholder registry as of March 31, 2020.

• Related information: Notice Concerning Abolishing Shareholder Benefits Program

Details of the benefit program for shareholders

Free accommodations at Leopalace Resort Guam (100 or more shares)

Shareholders can use one complimentary ticket per night in one hotel room.

During peak seasons, shareholders can use complimentary tickets on limited days only. The tickets do not cover travel expenses, including the cost of airline tickets. The discount applies to accommodation rates. Food, drinks, golfing and other expenses are not included. Please inform us of your intention to use a complimentary ticket when making a reservation for a hotel room and show the ticket at the front desk when checking in. Complimentary accommodation coupons for shareholders can be used only for twin rooms in Quest Tower. Coupons are unusable from December 28 to January 3.

Discounts on expenses for occupying rental properties managed by Leopalace21 (300 or more shares)

Leopalace21 offers discounts on the initial costs that shareholders must pay to occupy rental properties under its management.

Shareholders can use complimentary tickets at stores directly managed by Leopalace21 or those operated by its partners. The discount applies to key money, rent on a per diem basis and rent for the following month included in monthly contract expenses or initial lease contract expenses. The discount may not be available depending on monthly contract plans and conditions for the plans. Please confirm the details with the clerk in charge at store. Please enter the required information on the complimentary ticket and give the ticket to the salesperson in charge before applying for occupancy. The use of the ticket will not be accepted after the application for occupancy has been made. Shareholders can use one ticket for each contract for occupying a property.

Discounts on expenses associated with construction work undertaken by Leopalace21 Corporation or Morizou Co., Ltd. (300 or more shares)

Leopalace21 offers discounts on expenses for construction work for the building body undertaken by itself or construction work for custom-built houses ordered through Morizou, its affiliate.

Shareholders can use complimentary tickets for apartment houses, houses for rental and residential use, custom-built houses, commercial facilities, nursing care facilities and more. Discounts do not apply to additional construction work, remodeling work, land acquisition and maintenance and repair work after building completion. Please enter required information on a complimentary ticket and give the ticket to the salesperson in charge prior to the first estimate. Use of the ticket will not be accepted after the submission of the first estimate. Shareholders can use one complimentary ticket for each contract for constructing new buildings.

Number of shares owned and the period of ownership	Free accommodation ticket usable at Leopalace Resort Guam
	Fewer than three years	At least three years
100 or more shares	2 tickets	3 tickets

Number of shares owned and the period of ownership	Discount ticket usable for expenses for occupying a rental property managed by Leopalace21 * Discounts stated on the second line		Discount ticket usable for construction work that Leopalace21 performs on buildings proper * Discounts stated on the second line	Discount ticket usable for construction work that Morizou Co., Ltd. performs on buildings proper * Discounts stated on the second line
	Fewer than three years	At least three years	At least one year	At least one year
100 to 299 shares	－	－	－	－
300 to 499 shares	1 tickets 10,000 yen	1 tickets 15,000 yen	1 tickets 100,000 yen	1 tickets 0.3% of the price of contracted construction work
500 to 999 shares	1 tickets 20,000 yen	1 tickets 25,000 yen	1 tickets 200,000 yen	1 tickets 0.5% of the price of contracted construction work
1,000 or more shares	1 tickets 30,000 yen	1 tickets 35,000 yen	1 tickets 300,000 yen	1 tickets 1.0% of the price of contracted construction work

• * Discounts on expenses for occupying rental properties managed by Leopalace21 and discounts on expenses for contracted construction work, apply to shareholders who have owned Leopalace21 shares for at least one year.

• * Shareholders corresponding to shareholders for three years or longer are people who have been stated or recorded in the Leopalace21 shareholder registry as of March 31 (end of the fiscal year) and September 30 (interim point) of each year for at least the past seven consecutive times under the same shareholder number and have owned a prescribed number of Leopalace21 shares at any point during the sustained period of their share ownership. The base date immediately after a change in the shareholder number becomes the starting point for calculation in cases where a shareholder number is changed for reasons including inheritance and removal from the shareholder registry.

Facilities subject to the program

Leopalace Resort in Guam

Located 25-minute ride from Guam International Airport, Leopalace Resort spreads over 1,300 acres on the peaceful hills of central Guam, a tropical paradise.
The vast complex resort, accounting for one percent of Guam island, with a selection of guest room types in the beautiful scenery and various facilities offers you unlimited range of activities when you stay with us: a splendid 36-hole golf course, fine and casual dining restaurants, gentle and relaxing spa and full-fledged sports facilities are all at your fingertips. Let us be your home in Guam where you would expect ultimate hospitality and superb holiday experience.

• Leopalace Resort Guam

Points to note regarding the use of complimentary tickets

• Leopalace21 does not allow shareholders to use any complimentary ticket in combination with its other discount programs, such as campaigns.
• Leopalace21 does not reissue any complimentary ticket due to conditions such as theft, loss and disappearance.