To whom it may concern:

November 6, 2017

Company name: Mitsubishi Estate Co., Ltd. Representative: Junichi Yoshida,

President and Chief Executive Officer Securities code: 8802

Contact: Masato Kawasaki, General Manager of the

Corporate Communications Department Telephone: +81-3-3287-5200

Announcement of Revision of Dividends (Increase in Dividends) of Surplus and Year-end Dividend Forecasts

Mitsubishi Estate Co., Ltd. (hereafter the "Company") hereby announces that at the meeting of its Board of Directors held on November 6, 2017, the Company resolved to conduct a dividend distribution of its surplus with September 30, 2017 as the record date. Furthermore, there have been revisions made to the year-end dividend forecast for fiscal year ending March 2018 (April 1, 2017 - March 31, 2018) announced on May 10, 2017. The details can be found below.

  1. Details of Interim Dividend Distribution (Fiscal year ending March 2018)

    Amount determined

    Most Recent Dividend Forecast

    (Announced May 10, 2017)

    Dividends for the previous fiscal year

    (Second Quarter of FY2017)

    Record date

    September 30, 2017

    September 30, 2017

    September 30, 2016

    Dividend per share

    (JPY)

    ¥12

    ¥10

    ¥9

    Total Dividends

    ¥16,655 million

    ¥12,489 million

    Effective Date

    December 4, 2017

    December 2, 2016

    Dividend Resource

    Retained Earnings

    Retained Earnings

  2. Details of Year-end Dividend Revision (Fiscal year ending March 2018)

    Dividend per Share (JPY)

    Record date

    End of Second Quarter

    Year-end

    Annual

    Previous Dividend Forecast (announced

    May 10, 2017)

    ¥10

    ¥10

    ¥20

    Revised Dividend

    Forecast

    ¥12

    ¥24

    Actual Dividends for

    Current Fiscal Year (ending March 2018)

    ¥12

    Actual Dividends for

    Previous Fiscal Year (ended March 2017)

    ¥9

    ¥11

    ¥20

  3. Reason for the Announcement

Although the Company recognizes capital requirements for future business developments such as the redevelopment of Marunouchi, it focuses on dividends and the provision of a stable return to all shareholders as a key point of the basic policy on dividends. While overall performance levels etc. will also be taken into account, the Company has decided to aim for consolidated payment ratio of 25% to 30%.

As there was an upward revision to the consolidated forecast for the full fiscal year ending March 2018, in line with the dividend policy, the Company has decided to increase the interim dividend by ¥2 per share from the previous forecast, to ¥12 per share and the year-end dividend by ¥2 per share from the previous forecast, to ¥12 per share.

Accordingly, the annual dividend will be ¥24 per share, increased by ¥4 per share from the previous forecast.

(End)

Mitsubishi Estate Co. Ltd. published this content on 06 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 November 2017 06:03:05 UTC.

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