The reviewer of Nihon M&A Center Holdings' interim statements has added an emphasis-of-matter paragraph about the ¥4.442bn interim dividend approved by the board on 30 October 2025. The paragraph says the payout was found to exceed the distributable amount calculated under the Companies Act and the Company Accounting Ordinance. It adds that the matter does not affect the firm's conclusion. Earlier Tokyo Brief coverage
What the reviewer concluded
The conclusion itself is clean. The review report on the six months to 30 September 2026 says nothing came to the firm's attention to suggest the interim statements fail to present the company's position fairly in all material respects. A review uses more limited procedures than a year-end audit. The emphasis paragraph points readers to the shareholders' equity note, which records the 2025 dividend: ¥14 per share, record date 30 September 2025, effective 5 December 2025, funded from retained earnings.
The current dividend
The same filing records a new interim dividend resolved by the board on 30 October 2026: ¥4.493bn, or ¥14 per share, for holders on 30 September 2026, payable from 7 December 2026 out of retained earnings. The filing does not state the size of the 2025 excess or any corrective step the company has taken.
Earnings context
The half-year numbers are secondary here. Sales were ¥22.599bn, up 0.1%. Ordinary profit fell 8.0% to ¥7.884bn, and profit attributable to owners of the parent fell 1.9% to ¥5.305bn, which was 85.6% of the company's ¥6.2bn interim forecast.