Announcement regarding Revision of the Expected Dividends for

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[Translation] August 5, 2016 To whom it may concern, Company name: The Nippon Synthetic Chemical Industry Co., Ltd. Representative: Katsumi Kimura…
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[Translation] August 5, 2016 To whom it may concern, Company name: The Nippon Synthetic Chemical Industry Co., Ltd. Representative: Katsumi Kimura Representative Director, Member of the Board, President (TSE code: 4201, the First Section of the Tokyo Stock Exchange Inc.) Contact: Keiichi Takahashi Member of the Board, Managing Executive Officer General Manager of General Affairs and Human Resources Department Phone: 06-7711-5400 Announcement regarding Revision of the Expected Dividends for the Fiscal Year ending March 2017 The Nippon Synthetic Chemical Industry Co., Ltd. (the “Company”) hereby announces that it has resolved, at its board of directors’ meeting held today, to revise its dividend forecasts for FY 2016 and not to pay any interim dividend or year-end dividend for FY 2016, subject to the successful completion of the tender offer for the shares of the common stock of the Company (the “Tender Offer”) by Mitsubishi Chemical Corporation and Mitsubishi Chemical Europe GmbH (collectively, the “Tender Offerors”) which is announced in today’s press release from the Company, entitled “Notice regarding Implementation of the Tender Offer of Our Shares by Mitsubishi Chemical Corporation which is Our Controlling Shareholder and Mitsubishi Chemical Europe GmbH and the Recommendation of the Tender thereto”. 1. Reason for Revision of Expected Dividends The Company has resolved, at its board of directors’ meeting held today, to state an opinion supporting the Tender Offer and recommending that the shareholders of the Company accept the Tender Offer. The above-mentioned resolution of the board of directors’ meeting is made on the assumption that the Tender Offerors are intending to, by making the Tender Offer and committing to undertake a series of processes following the Tender Offer, become the sole shareholders of the Company and the common stock of the Company will be delisted (for more details, please refer to the press release issued by the Company today, entitled “Notice regarding Implementation of the Tender Offer of Our Shares by Mitsubishi Chemical Corporation which is Our Controlling Shareholder and Mitsubishi Chemical Europe GmbH and the Recommendation of the Tender thereto”). The Company recognizes that the redistribution of profits to its shareholders is one of the important tasks of management and has been attempting to increase the amount of distributed dividends by improving its performance through a basic policy of paying dividends after taking the medium-term change in the 1 management environment and performance trends on a consolidated basis into consideration, together with the purpose of securing its retained earnings and of enhancing its corporate character. However, due to the reason mentioned above, if the Company pays an interim dividend and a year-end dividend for FY 2016, there will be an economic difference between the shareholders who tender their shares as part of the Tender Offer and the shareholders who do not. In order to secure fairness among shareholders, the Company has resolved at its board of directors’ meeting held today that the Company will not pay any interim dividend or year-end dividend to its shareholders if the Tender Offer successfully closes. 2. Contents of Revision Annual dividends First Quarter Second Quarter Third Quarter Final Quarter Total yen yen yen yen yen Previous forecasts (Announced on May 10, 10.00 - 10.00 20.00 2016) Current revised 0.00 - 0.00 0.00 forecasts Performance for - this fiscal year Performance for - 10.00 - 10.00 20.00 the previous fiscal year (FY 2015) 2
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