Shinko Electric Industries Co., Ltd. revised its dividend guidance for the Fiscal year ending in March 2024 from JPY 25.00 per share to JPY 0.00 per share. The Company passed a resolution at its Board of Directors meeting held on December 12, 2023, to express an opinion to support the Tender Offer and recommend that its shareholders tender their shares in the Tender Offer. The Board of Directors' resolution above was made on the assumption that the Tender Offeror intends to make the Company its wholly-owned subsidiary through the Tender Offer and a series of subsequent procedures and that the Company Shares will be delisted.

For details, please see the Press Release Giving Notice of Expression of Opinion. The Company previously positioned shareholder returns as one of its most important management policies. However, according to the Tender Offeror, the purchase price for the Tender Offer was determined on a comprehensive basis, based on the assumption that no dividends would be paid based on the base date of March 31, 2024.

Accordingly, the Company passed a resolution at its Board of Directors meeting held to amend the dividend forecast for the fiscal year ending in March 2024 and not to pay year-end dividends for the fiscal year ending in March 2024.