First Brothers Co.,Ltd.
3454・Standard Market・Real Estate
Governance
Company with a Board of Corporate Auditors. Composed of 6 directors (2 of whom are outside directors) and 3 corporate auditors (all outside). In June 2023, the company voluntarily established a Nomination and Compensation Committee and a Special Committee (addressing conflicts of interest with the controlling shareholder) to strengthen independence and transparency. The Board of Directors met 20 times during the fiscal year under review.
Risk Management
Based on the Risk Management Regulations, the Corporate Management Department's Screening Section analyzes management and operational risks, which are then deliberated and approved by the Investment Committee (held once a week) and the Board of Directors. Through the annual formulation of a risk management plan and the implementation of a risk assessment plan, risks across the entire group are managed centrally.
Shareholder Returns
Basic policy of a year-end dividend based on a DOE (Dividend on Equity ratio) standard of 2.0%, with continuation of a profit-linked dividend under which 40% of the portion of consolidated net income exceeding ¥2,000 million is returned as an interim dividend. The annual dividend forecast for FY2026 (ending November 2026) is ¥37 per share (paid entirely as a year-end dividend), an increase from the prior-year actual of ¥35. The interim dividend is ¥0.
Dividend Policy
The basic policy is to pay a year-end dividend targeting a DOE (Dividend on Equity ratio) of approximately 2.0%, implemented continuously and stably regardless of short-term fluctuations in business performance. This is combined with a policy under which, if consolidated net income attributable to owners of the parent exceeds ¥2,000 million, an amount equivalent to 40% of the excess is returned as an interim dividend. For FY2026 (ending November 2026), the plan is an interim dividend of ¥0 and a year-end dividend of ¥37 (forecast), for a total of ¥37. The prior fiscal year (FY2025, ended November 2025) actual results were a year-end dividend of ¥35 and a total of ¥35. The Articles of Incorporation stipulate that dividends of surplus may be flexibly resolved by the Board of Directors.
ESG
Sustainability-related risks are managed under the same governance structure as corporate governance. On the human capital front, the company is promoting diverse hiring regardless of gender, age, or nationality, the promotion of younger employees, and an increase in female managers, while establishing flexible working arrangements such as flextime and remote work. Quantitative indicators and numerical targets related to climate change and other matters have not yet been set, and the company states that it will consider these going forward.
Last updated: February 25, 2026