Medium-Term Management Plan
“COPRO Group Build the Future 2027”(FYE2023 - FYE2027)
May 13th, 2022 (Friday)

COPRO-HOLDINGS Co., Ltd.
Tokyo Stock Exchange Prime, Nagoya Stock
Exchange Premier (Ticker Symbol: 7059)

Table of Contents
1. Medium-Term Management Plan “COPRO Group Build the Future 2027”(1) Positioning of the Medium-Term
Management Plan

(5) Basic Policies & Growth Strategy(2) Purpose(6) Value Proposition Aim with the
Growth Strategy(7) Growth Roadmap(3) Formulation Logic(4) External Environment

2. Growth Strategy(1) Business Portfolio Policy(4) SES Business(2) Construction & Plant Technician
Dispatching Business(3) Mechanical Design Engineer Dispatching& Contracting Business(5) Global Business(6) M&A Policy and Investment
Strategy

3. Financial Numerical Targets & Plan for Shareholder Returns(1) Financial Performance Targets©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

(2) Plan for Shareholder Returns
11. Medium-Term Management Plan “COPRO Group Build the Future 2027”(1) Positioning of the Medium-Term
Management Plan

(5) Basic Policies & Growth Strategy(2) Purpose(6) Value Proposition Aim with the
Growth Strategy(7) Growth Roadmap(3) Formulation Logic(4) External Environment

2. Growth Strategy(1) Business Portfolio Policy(4) SES Business(2) Construction & Plant Technician Dispatching
Business(3) Mechanical Design Engineer Dispatching &Contracting Business(5) Global Business(6) M&A Policy and Investment
Strategy

3. Financial Numerical Targets & Plan for Shareholder Returns(1) Financial Performance Targets©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

(2) Plan for Shareholder Returns
2(1) Positioning of the Medium-Term Management Plan
During the period of this medium-term management plan, we will expand our business by providing uniquevalue as the "Technician Support Platform" which will be a stepping stone for future growth.
Business Growth through "Supportingthe Diverse Work Styles of Technicians"

Intermittent Growth Utilizing
Group Synergies

Business Scale

Promoting Collaboration
within the Group2030

Development of theTechnician Support Platform

Expansion of Projects &the Human Resource Base,
Plan Design and System Construction

2027

2023

2022
Medium-Term Management Plan Period©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

From the next MediumTerm Management Plan3(2) Purpose

CORORATE PHILOSOPHYMISSION

VISION

VALUE

Create a Dynamic“Human Driven Society ”

PURPOSEThe Best “Work Style.”
The Best “Workers.”

Become a“Human Resource Development Company"that Ignites the Spirit of Individuals

Work with a “Sense of Purpose "©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

4

(3) Formulation Logic
Formulate business strategies, performance targets, and capital policies in light ofchanges in the business environment and the purpose of COPRO.
Logic for Formulating the Medium-Term Business Plan
Purpose: The Best “Work Style.” The Best “Workers.”[Business Strategy]

Changes in the Market andthe Needs of Customers

Construction & Plant
Technician Dispatch

COPRO’s Advantages
and Capabilities

Mechanical Design
Engineer Dispatch &SES Business

Policy to Deal with
Competitors[Performance Targets
and Capital Policy]
Financial Goals &KPI

Shareholder Returns
Global Business[Strengthening the Foundation for Promoting our Business Strategy]
Governance & Systems©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

ESG & SDGs

“Technician Support Platform”[Understanding theEnvironment][What We
Aim to Be]

M&A Policy5(4) External Environment (1/2)
It is expected that Japan’s companies will increasingly utilize the technician dispatchers to respond to thedeclining birthrate and aging population, and to deal with the improvement of the working environment.
The market for construction and plants, our core business, itself is also expected to grow.
Awareness of the External Environment
Political Factors

Positive factors

Economic Factors

Positive factors

Continuous improvement in the working environment:
Operational standardization by investing in HR

Growth in the construction and plant market:
our core businessAccelerating acceptance of foreign workers

Continuous growth in the percentage ofdispatched employees at companies

Positive factors

Risk factors

Social Factors

Technical Factors

Shortage of technicians in each field due to thedeclining birthrate and aging population

Spread of AI and construction robots atconstruction sites

Change in work style(work styles that are not tied to time or conditions)

Changes in the value chain due to theemergence of matching platforms©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

6

(4) External Environment (2/2)
In line with the expansion of the construction and plant market following the economic recovery after thenovel coronavirus pandemic, the technician dispatch market in this area is also expected to grow at anannual rate of + 8.8%.
Forecast of the Mark Expansion of
The Construction & Plant Technician Dispatching Industry(¥100mn)

6,052

6,000

Avg. Annual Growth Rate

5,500

+8.8%

5,000
4,500

5,105
4,689

4,308
3,958

4,000

3,637
3,342

3,500
3,000

5,558

2,823

3,072

2,500
2,000
1,500
1,000

500
0
2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

*Our estimate©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

7

(5) Basic Policies & Growth Strategy (1/2)
It is necessary to redefine the added value of dispatching technicians
due to social changes in diverse workers and their work styles.
Technicians

Client companies

Competitive environment

Formation of diverse career
paths and the spread offree working styles

Shortage of workers.
Supporting working
environment
improvements.

Difficulty of differentiating
for technicians and clientcompanies

What is Required in the Technician Dispatch Market
Career development
support for technicians

Stable supply of
the best workers

COPRO’s uniquevalue creation

COPRO’s Value Proposition

As a platform provider that supports the diverse careers of technicians,
becoming a company selected by both technicians and client companies．
©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

8

(5) Basic Policies & Growth Strategy (2/2)
Have both technicians and client companies feel the value of working with COPRO.
Direction of the Value Proposition during this Medium-Term Management Plan
Value Proposition

Technicians

Client Companies

By working at COPRO, they can improve theircareer as a technician and get self-fulfilment

By commissioning COPRO, they can feel asense of security, trust and conviction

Process

Recruiting

Education & Training

 Getting more new graduates
and inexperienced hires

 Designing a career path foreach individual, anddeveloping skill requirements,
training programs and alearning environment

 Strengthening group
recruitment capabilities byutilizing in-house media

 Providing incentives according
to qualifications attained andwork experience

Infrastructure

Organizational Structure Expanding the follow-up system forclient companies and technicians

 Establishing consultants to support the
career paths of technicians Vitalizing the organization through job
rotation©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

Sales & Assignments
 Optimal assignments byunifying project andtechnician information
 Developing theconfiguration of temporary
staffing in order to improve
work quality at the site

HR & Personnel System Constructing programs and evaluation &compensation systems that promote thegrowth of technicians Reforming service provision, andevaluation & compensation systems, so it
leads to improved motivation for head
office and sales employees

Follow-Up Detecting warnings fromboth client companies andtechnicians and following up
on them in a speedy andconscientious manner

System Infrastructure Standardizing sales activities andmaking work more efficient Optimal assignments and customer
management by unifying project andtechnician information9(6) Value Proposition Aim with the Growth Strategy
We are providing value to technician as the "Technician Support Platform," which is equippedwith a wide range of services and schemes to support the career advancement of each worker.

Technician Support Platform
Supporting career development for technicians by being in collaborating with the individuals
1

New Graduates

Mid-Career
Professionals

Construction
Technicians

1

2

1

2

3

1

2

3

3

MemberLeader

1

1

1

2

2

3

Specialist

3

ExpertTop Technician

Career change

Mid-Career withNo Experience

PolishPolish OJTOJT &&Off-JT for New
Graduates andInexperienced
Inexperienced
Workers
Workers

Plant
Technicians,
Mechanical
Design and
IT Engineers

Career Path
Consultation forTechnicians andEngineers

2
3

1

2
3

1

2
3

1

2

2

3

3

MemberLeaderSpecialist

ExpertSkill Improvement
through UniqueTraining
Programs

Thorough
Follow-Up after
Assignments

Incentive
Planning basedon Skills andExperience

Challenging Job Suggestion to
Advance their Skills as well as
to Utilize their Skills Acquired

Top Engineer

Building a Wide Range of Services and Systems to Support Technician and Engineers©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

10

(7) Growth Strategy Roadmap
We are systematically promoting various measures and system planning centered on theconstruction of the Technician Support Platform.
Early Stage of the Plan
Building a
Technician
Support Platform

Middle Stage of the Plan

Technician career path planning andSupportｰsystem development

Later Stage of the Plan

Continuous service improvement via PDCA

Expanding educational content andbuilding a training environment
Improving productivity
by streamlining back-office operations

Business Innovation
via Digital
Transformation

Realizing services that are close to each person by building a technician database
Optimizing assignments by building a matching platform

Growing the
Mechanical Design &SES Business

Strengthening andRevitalizing
Organizational Abilities

Bringing together
projectstogether
by utilizingprojects
the core business network
Bringing

by utilizing the core business network
Securing technicians by utilizing the COPRO brand

Expanding business scale throughdeveloping new fields andentering new areas

Designing an evaluation & compensation systemthat leads to improved employee engagement

More training centered on managers and spreading the strategy
Improving organizational capacity throughjob rotation and sharing of know-how©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

111. Medium-Term Management Plan “COPRO Group Build the Future2027”(1) Positioning of the Medium-Term
Management Plan

(5) Basic Policies & Growth Strategy(2) Purpose(6) Value Proposition Aim with the
Growth Strategy(7) Growth Roadmap(3) Formulation Logic(4) External Environment

2. Growth Strategy(1) Business Portfolio Policy(4) SES Business(2) Construction & Plant Technician
Dispatching Business(3) Mechanical Design Engineer Dispatching& Contracting Business(5) Global Business(6) M&A Policy and Investment
Strategy

3. Financial Numerical Targets & Plan for Shareholder Returns(1) Financial Performance Targets©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

(2) Plan for Shareholder Returns
12(1) Business Portfolio Policy
While investing in growth to further expand our market share in the construction and plant technician
dispatching business, which is the backbone of our group, in the area of human resource services
specializing in high value-added technicians, we will promote investment in businesses with highmarket growth potential in order to foster our second main business and revenue source.

High

HR Services and Peripheral Businesses Specializing in Technicianswith the High Market Growth and the High Added Value
Fostering Future Main Business and Revenue Sources

Market Growth

Construction
PlantsMechanical
Design

SES

Low

High
©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

Market ShareLow
13

(2) Construction & Plant Technician Dispatching Business: Environmental Awareness
Awareness of the Business Environment
External
Environment⚫ The market scale is expanding due to theincrease in the number of construction projects
in the construction and plant fields, and theincrease in the demand of temporary staff ratio.

⚫ With the spread of technologies such as remotemanagement systems, there has been partial
progress in construction management laborsaving measures

Direction based on Environmental Changes⚫ Developing new and deeply-cultivated sales bytargeting client companies that are expected to
expand projects⚫ Reducing replacement risk by improving theskills of technicians

Our Cmpany⚫ There is a lot of room for productivity
improvement in sales and recruitment activities
that form the basis for executing our growthstrategies.
⚫ The necessity to expand the base oftechnicians who can meet the demand forhuman resources from the growing market⚫ The necessity to invest resources intensively inbusinesses that create added value for further
business growth⚫ Thorough strengthening of basic
competitiveness in business operations⚫ Focus on hiring and utilizing new graduates andmid-career inexperienced people in addition tohiring mid-career professionals⚫ Dispatching skilled technicians and young
technicians as a set⚫ Streamlining work via DX, and shifting creation
time and man-hours to provide value to clientcompanies and techniciansCompetition⚫ Among competitors, the structure is mass hiringand mass turnover.
It is important to sustain things througheducation & training and follow-up after hiring⚫ It is a business format that makes it difficult forclient companies to feel the difference from thecompetition. There is a necessity to create thebenefit of commissioning COPRO⚫ COPRO not only creates an environment where
technicians can voluntarily grow, but also
supports their careers and growth©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

⚫ By placing an order with COPRO, companies
can develop initiatives that will give them asense of security, trust and conviction.
14

(2) Construction & Plant Technician Dispatching Business: Strategic Direction
By dispatching experienced and inexperienced in sets, improving matching accuracy, andstrengthening follow-up, we will improve the quality of the work site and the working environment togain the trust of both client companies and technicians.
Recruiting

Education & Training

Sales & Assignments

Follow-Up

Expanding Dispatching in Sets

Improving Matching Accuracy

Strengthening Follow-Up

Dispatch experts together with new
graduates & inexperienced people in sets

Polish a matching system by meeting
the requirements of a project and theskills and experience of the techniciansCommunicate and visualize
the situation of both client companies
and technicians

Dispatching in sets

Database and matching[Experts][Newly Graduated &Inexperienced][Project DB][Technician DB]
Matching

Education &Management★★★

Consultation★

Strengthening follow-up[Project & technician DB]
Mutual understanding withtechnicians,
Client staying in compliance,
Companiesrequesting additional
human resources, etc.
Follow-up
Labor & healthmanagement,
Management
working style consultation
Employees Technicians & advice, etc.

Understanding
the situation

Improving the skills oftechnicians

Improving the skills oftechniciansContributing to the solving ofindustry issues

Improving the retention rate oftechnicians

Improving the retention rate oftechnicians

Improving the retention rate oftechnicians

Improving on-site work quality

Fostering a sense of security forclient companies

Gaining the trust of clientcompanies©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

15

(3) Mechanical Design Engineer Dispatching Business: Environmental Awareness

Awareness of the Business Environment
External
Environment⚫ Market growth centered on new areas such ascarbon-neutral-related facilities & equipment
and electronic components

Our Company⚫ The necessity to expand the engineer base tomeet the demand for human resources from thegrowing market⚫ There is room for improvement in the scale andunit price of projects by expanding orders frommanufacturers in addition to orders fromsuppliers

Competition⚫ From the perspective of the client companies, it
is difficult to feel the difference in thecapabilities of the engineers at each company,
and is a business format that makes it difficult
to get a sense of satisfaction with the dispatch
unit price⚫ Limited entry of competitors in the downstream
process of the value chain©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

Direction based on Environmental Changes⚫ Cultivating customers mainly in new areas
where projects are expected to expand⚫ By advancing into the downstream of thedesign process, strengthening relationships
with existing customers and winning deals⚫ Expanding recruitment by utilizing group
resources (collective recruitment utilizing the
COPRO brand, and owned media, etc.)⚫ Acquiring projects from manufacturers by
utilizing expert human resources⚫ By linking the skills of engineers and the unit
prices, realizing the setting of unit prices thatare convincing for client companies

16(3) Mechanical Design Engineer Dispatching Business: Strategic Direction
In the first half of the plan, we will enter new areas where demand is expected, and further deeply cultivate
our existing customers. In the latter half of the plan, we aim to achieve dramatic growth in the business by
capturing top manufacturers and significantly expanding hiring.
Client companies

ATMOS

Priority Measures to Improve the Quantity
and Quality of Projects
Policies

First halfof the plan

Cultivating
Clients
in Growing Markets

Cross-Selling to
Existing Clients

Latter halfof the plan

Cultivating Top
Manufacturers
in Priority Areas

Increasing
the Size of Projects

Measure details• Developing promising areas such as carbon neutralrelated facilities and equipment• Focusing on downstream processes where highdemand is expected

Engineers
Priority Measures to Improve the Quantity
and Quality of Engineers
Policies

Strengthening
Recruitmentof New Graduatesand Experts

Measure details• Utilizing new graduates through group recruitment• Hiring expert human resources from manufacturers

Building
an Education System• Strengthening downstream process sales by using
achievements in new areas, even for existingcustomers in priority areas (transportation equipment,
agriculture and medical care)• Systematically getting skills through the contracting
business• Visualizing and sharing the skills of the engineers

Improving
the Retention Rate

• Through the dispatching of experts and new
graduates as a set, building an environment where
work can be done with peace of mind
• Setting up a unit price table that is linked to skills• Developing projects for new customers(top manufacturers) in priority areas by utilizing expert
human resources(experienced in design work at manufacturers)

Boosting
Recruitment
by Expanding Areas• Securing human resources with appealing projects
in various fields and value chains• Expanding the number of hires by expanding
branches• Promoting dispatching in sets, and expanding thenumber of assignments• The team leader system raises the level of businessquality and builds relationships of trust with clientcompanies©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

17

(4) SES Business: Environmental Awareness
Awareness of the Business Environment

External
Environment⚫ The supply of IT engineers has not kept up with
the increase in corporate IT investment, making
it difficult to secure human resources⚫ While the freelance population is increasing,
there is a lack of support for individual credibility
and the working environment

Direction Based on Environmental Changes⚫ [For temporary employees] Gaining trust from
employees by expanding education, training
and follow-up. Making inexperienced people
into powerful members of the workforce⚫ [For freelancers] Providing support services tocare for the issues of freelancers

Our Company
Competition⚫ Digital transformation is progressing forindustries that are behind in IT, including theconstruction industry⚫ Making a service out of DX support for the
existing customers of the group⚫ Even thought the number of projects continues
to grow, there is a shortage of engineers,
leading to lost opportunities⚫ Promoting the influx and registration ofengineers by improving the SEO, UI and UX of
our company’s websites⚫ There are many projects with a deep businessprocess, and there is room for improvement in
the project unit price⚫ Since many of the projects, which has lesscompanies involved, are large, we haveintroduced dispatching in sets to build a systemthat can handle larger projects⚫ Getting projects and engineers in relevant areas
by converting specific areas such as xTech andgames into services and in-house businesses⚫ Assuming it gets competitive for hiring highlyskilled technical workers, we focus ontransforming inexperienced workers into
powerful members of the workforce©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

18

(4) SES Business: Strategic Direction
In the first half of the plan, we will expand human resources for both freelance and temporary staffing, toincrease the number of assignments through dispatching in sets.
In the latter half of the plan, the business will grow by expanding human resources through alliances witheducational institutions, and by expanding projects while cultivating new areas.
Engineers
Client Companies
VALUE ARK CONSULTING
Priority Measures to Improve the Quantity
and Quality of Projects

Policies

First Halfof the PlanDX
SupportforGroup
Customers
Increasing
the Size& ScaleofProjects

Latter Halfof the Plan

Area
& Project
Development

Priority Measures to Improve
the Quantity and Quality of Engineers

Policies

Measure details• Conducting sales to group generalcontractor and plant customers andwinning DX & IT support projects

Expanding
Recruitment• Strengthening exposure to media utilizing
group capital, and improving the UI, UX & SEO
of our own media• Utilizing our own media and existing knowhow, and at the same time also expanding thehiring of dispatched IT human resources• Getting projects with a shallow businessprocess by supporting large-scale projects
via dispatching in sets

Improving
the Retention
Rate• [Freelancers] Expanding support services• [Temporary employees] OJT via
dispatching in sets
• [Overall] Expanding follow-up• Deploying the organization in areas where
demand is expected, and promoting thedevelopment of customers and projects

Significantly
Expanding
Recruitment

Measure details©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

• Through alliances with educational
institutions, expanding the scale of humanresources at the same time as hiring
inexperienced people and making them
powerful members of the workforce19(5) Global BusinessIn partnership with Southeast Asian educational institutions, we provide a basic education to those who
are willing to work in Japan. After that, they are dispatched to construction, mechanical design or IT
companies in Japan, which have been facing a shortage of human resources in Japan. After returning totheir home countries, they can still be dispatched to local Japanese companies.
Initiatives in Japan
2

Dispatching those who have been educated overseas
to client companies in Japan[Technicians Trained Overseas][Client Companies]
Dispatching2
Mechanical
DesignMechanical
DesignConstruction

IT

Construction

IT

1
3

Initiatives at Locations Overseas
1

In partnership with local educational institutions,provide a basic education
to those who want to work in Japan[Local Educational Institutions][Local Human Resources]

In 2021, we established a
corporation in Vietnam.
We are currently planningto expand to other
Southeast Asian
countries in the future.
©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

Japanese
Language
Education& TechnicalKnowledge

3

Dispatching returnees
to local Japanese companies[Technicians
Returningto their HomeCountries][Local JapaneseCompanies]
Dispatching

Alliance20

(6) M&A Policy and Investment Strategy
In addition to the high organic growth of our existing businesses that is centered on our corebusiness, we will aggressively promote M&A in order to achieve intermittent growth, aiming toachieve the medium-term financial performance targets ahead of schedule.

Acquisition
Targets

M&A
Financing& Financial
Discipline

Investing for the Purpose ofStrengthening the Business
Foundation and Improving
Efficiency©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

In the human resource service area, which specializes in technicians andengineers with large growth potential and high added value, companies withexcellent technicians and engineers, and companies that have the necessary
resources to build the Technician Support Platform⚫ Financing for acquisitions is arranged in the following order: cash on hand,bank borrowing and then equity finance⚫ Concluded a commitment line contract (total of ¥3 billion) for the purpose offlexibly raising funds for M&A deals⚫ Set the WACC at 8% to 9% for the hurdle rate, and only consider M&A
investments that exceed this rate
⚫ Investment purpose: Building the Technician Support Platform, and business
innovation via DX, etc.
⚫ Investment amount: Expected to be ¥150 to ¥200 million per year (FY3/23 to
FY3/24)21

1. Medium-Term Management Plan “COPRO Group Build the Future2027”(1) Positioning of the Medium-Term
Management Plan

(5) Basic Policies & Growth Strategy(2) Purpose(6) Value Proposition Aim with the
Growth Strategy(7) Growth Roadmap(3) Formulation Logic(4) External Environment

2. Growth Strategy(1) Business Portfolio Policy(4) SES Business(2) Construction & Plant Technician
Dispatching Business(3) Mechanical Design Engineer Dispatching& Contracting Business(5) Global Business(6) M&A Policy and Investment
Strategy

3. Financial Numerical Targets & Plan for Shareholder Returns(1) Financial Performance Targets©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

(2) Plan for Shareholder Returns
22(1) Financial Performance Targets
Through the realization of a Technician Support Platform, we aim to achieve sales of ¥40 billion and
Non-GAAP operating profit of ¥5 billion by the fiscal year ending March 2027.
Salse

FYE2027 Targets

Non-GAAPoperating
profit
Non-GAAP operating
profit(Mln yen)

45,0007,000

40,000Avg. Annual Growth Rate of Sales

40,00035,000+20.7%

5,000

30,0006,000

15,000

5,000
4,000

25,00020,000

Sales

¥

40 bn

Non-GAAP Operating
Profit3,000

17,854
15,589

2,000

1,841

¥

5 bn

1,334

10,000

1,000

5,000

0

0
FYE22
(Results)

FYE23

FYE24

FYE25

FYE26

FYE27

Medium-Term Management Plan Period

No. of Technicians(Consolidated at FY end)

6,200

*As a profit index to measure essential performance, Non-GAAP operating profit is calculated by adding depreciation, amortization of goodwill and sharebased remuneration expenses back to operating profit.
©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

23

(2) Plan for Shareholder Returns
The dividend policy has changed with the announcement of the Medium-Term Management Plan
“COPRO Group Build the Future 2027”

Dividend Policy

Dividends are the basis for shareholder returns, which we consider to be one of theimportant management issues, and our basic policy is to pay stable dividends. Dividends
will not be reduced during the period covered by the Medium-Term Management Plan
"COPRO Group Build the Future 2027" (from FY3/2023 to FY3/2027), depending on the
profit growth achieved through aggressive investment.

Annual dividend per share

15
18/3期
FYE201821
19/3期
FYE201930

20/3期
FYE2020

38

40

40

Minimum Dividend
¥40

21/3期
22/3期
23/3期(予想)24/3期(予想)
FYE2021
FYE2022
FYE2023 PlanFYE2024
FYE2025
Medium-Term
Management
period 25/3期(予想)(forecast)(forecast)(forecast)

26/3期(予想)
FYE2026

27/3期(予想)
FYE2027(forecast)(forecast)Medium-Term Management Plan Period©2022 COPRO-HOLDINGS. Co., Ltd. All rights reserved.

24