DYNAM JAPAN : INTERIM DIVIDEND FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020 RECORD DATE IN CONNECTION WITH THE PAYMENT OF INTERIM DIVIDEND FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020

If you are in any doubt as to any aspect of this announcement or as to the action you should take, you should consult your licensed securities dealer or registered institution in securities, bank manager, solicitor, professional accountant or other professional adviser.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

DYNAM JAPAN HOLDINGS Co., Ltd.

(incorporated in Japan with limited liability)

(Stock Code: 06889)

INTERIM DIVIDEND

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020

RECORD DATE IN CONNECTION

WITH THE PAYMENT OF INTERIM DIVIDEND

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020

1. SUMMARY
2. • On 25 November 2020, the Board declared the interim dividend of JPY3.00 or HKD0.2232 (the ''Interim Dividend'') per ordinary share of the Company (the ''Share'').
   • The Interim Dividend will be payable on Wednesday, 13 January 2021 to the shareholders of the Company (the "Shareholders") whose names appear on the share register of the
     Company at the close of business on Monday, 14 December 2020 (the ''Record Date'').
   • The interim results of the Company and its subsidiaries for the six months ended 30 September 2020 were announced on the websites of the Stock Exchange (http://www.hkexnews.hk) and the Company (http://www.dyjh.co.jp) on Wednesday, 25 November 2020.
   • Based on the average of the exchange rates (telegraphic transfer middle rates) published by Mizuho Bank Co., Ltd. for the five (5) business days immediately preceding 25 November 2020, the exchange rate for conversion of Japanese yen to Hong Kong dollars for the Interim Dividend to be distributed to the Shareholders in Hong Kong dollars is JPY1 to HKD0.0744.

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• All CCASS Beneficial Owners will receive the Interim Dividend payments in Hong Kong dollars.
• Interim Dividend payments will be subject to Japanese withholding taxes at rates set out in section C or section D below. Shareholders holding the Shares in their own names and outside CCASS residing in Japan do not have to apply for a refund of withholding tax relating to the Interim Dividend in general. The Company will apply the applicable withholding tax rate and withhold taxes according to such Shareholder's identity (i.e. individual or corporation), etc. in advance.
• Shareholders who hold the Shares in their own names and outside CCASS residing in Hong Kong without a permanent establishment in Japan may apply for the maximum withholding tax rates under the Hong Kong-Japan Tax Convention. Further, Shareholders who hold the Shares in their own names and outside CCASS residing outside Japan and Hong Kong and without a permanent establishment in Japan may also apply for the maximum withholding tax rates under a tax convention between Japan and their respective tax residencies, if applicable. In order to enjoy a maximum withholding tax rate under any valid tax convention with Japan, such Shareholders have to submit the relevant application forms and required documents on or before Wednesday, 23 December 2020. Those Shareholders who have been unable to submit the relevant application forms and required documents by the prescribed deadline may request from Japan's National Tax Agency (the ''NTA'') a refund of the amount withheld in excess of the maximum withholding tax under an applicable tax convention ex-post facto. For details of the procedures and required documents for these applications, please refer to section E below.
• CCASS Beneficial Owners who wish to obtain a refund of tax withheld in excess on the Interim Dividend payments under Japanese tax law have to send the refund application forms and the required documents on or before Wednesday, 31 March 2021pursuant to the filing procedures set out in section F below (it is encouraged to have them mailed to the Company by around 28 February 2021in order to obtain early refund).
• Since the application for the maximum withholding tax rate under a tax convention, the application for a refund of tax withheld in excess of the applicable maximum withholding tax under a tax convention, and the application for a refund of tax withheld in excess of the applicable withholding tax under the Japanese tax law are subject to the approval of the NTA. It should be noted that there may be delays in obtaining the approval or that the application may not be approved by the NTA. The NTA may also request additional information in order to process the applications.
• CCASS Beneficial Owners holding the Shares in the account with any securities companies, etc. within Japan will be subject to withholding by them in addition to withholding by the Company, since such securities companies, etc. within Japan are required to do so by the Japanese tax law. For details, please contact the securities companies, etc. within Japan with which you hold the relevant account.
• This announcement is published for information purposes only and is not intended to be, nor should it be construed as, legal or tax advice. Therefore, it will be necessary for

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Shareholders or potential investors to seek professional advice on the tax implications of investing in the Shares.

1. INTERIM DIVIDENDS
   Interim Dividend and Interim Results
   On 25 November 2020, the Board declared the Interim Dividend of JPY3.00 or HKD0.2232 per Share. The Interim Dividend will be payable on Wednesday, 13 January 2021 to the Shareholders whose names appear on the share register of the Company at the close of business on the Record Date. The table below shows the comparison of this amount of the Interim Dividend per Share with the interim dividend for the six months ended 30 September 2019. Not being recognized as Shareholders under the Companies Act, the CCASS Beneficial Owners are ultimate payees of the Interim Dividend.

Subject Period for Interim	Interim Dividend per	Exchange Rate Adopted
Dividend	Share
Interim dividend for the six
months ended 30 September	JPY6.00 or HKD0.4320	JPY1 to HKD0.0720
2019
Interim Dividend for the six
months ended 30 September	JPY3.00 or HKD0.2232	JPY1 to HKD0.0744
2020

The interim results of the Company and its subsidiaries for the six months ended 30 September 2020 were published on the websites of the Stock Exchange (http://www.hkexnews.hk) and the Company (http://www.dyjh.co.jp) on Wednesday, 25 November 2020.

Record Date for Distributing Interim Dividend

The Interim Dividend will be payable to the Shareholders whose names appear on the Company's share register at the close of business on Monday, 14 December 2020.

In order for those Shareholders whose names have not been registered on the Company's share register to qualify for the Interim Dividend, all properly completed and duly stamped and executed transfer forms accompanied by the relevant share certificates should be lodged with the Company's share registrar, Computershare Hong Kong Investor Services Limited at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong before 4:30 p.m. (Hong Kong time) on Monday, 14 December 2020.

Currency of Dividend Payments

Shareholders entitled to receive the Interim Dividend from the Company (other than CCASS Beneficial Owners) will have the option of electing to receive the Interim Dividend in either Japanese yen or Hong Kong dollars (to be converted by the Company based on the exchange rate as stated in the paragraph ''Exchange Rate'' below). The Company will announce the

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detailed procedure for electing the currency for the Interim Dividend payable to the Shareholders on Monday, 14 December 2020.

Although CCASS Beneficial Owners are not recognized under the Companies Act as Shareholders unless they withdraw their Shares from CCASS and re-register themselves as Shareholders in the Company's share register, the CCASS Beneficial Owners are ultimate payees of the Interim Dividend and all CCASS Beneficial Owners will receive dividend payments in Hong Kong dollars from the Company.

Exchange Rate

Based on the average of the exchange rates (telegraphic transfer middle rates) published by Mizuho Bank Co., Ltd. for the five (5) business days immediately preceding 25 November 2020, the exchange rate for conversion of Japanese yen to Hong Kong dollars for the Interim Dividend to be distributed to the Shareholders in Hong Kong dollars is JPY1 to HKD0.0744.

Interim Dividend Amount in Hong Kong Dollars

(1) Gross Interim Dividend Amount

The gross Interim Dividend amount in Hong Kong dollars per Share is approximately HKD0.2232 based on the exchange rate as stated above.

(2) Net Interim Dividend Amount

As detailed later in this announcement, the net Interim Dividend amount in Hong Kong dollars per Share will vary according to the type of the Shareholder, since the applicable withholding tax rates are decided based upon residence of each Shareholder, whether each is an individual or corporation and other factors. Any foreign exchange commission will not be applied to the Interim Dividend. Conversion of Japanese yen to Hong Kong dollars will be applied after the deduction of the applicable withholding tax amount.

(3) Rounding Effect

The final amount of the total net Interim Dividend amount actually received by each Shareholder might slightly differ from the amount based on the calculation method stated in (2) above due to the rounding effect in calculation of the amount thereof.

1. JAPANESE WITHHOLDING TAX APPLIED TO SHAREHOLDERS

Set out below is a table showing the Japanese withholding tax rates applicable to the Interim Dividend payments to the Shareholders (other than CCASS Beneficial Owners) under the Japanese tax law.

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Shareholder holding the Shares in his/her own name and outside CCASS

	Individual	Individual
	Shareholder	Shareholder
	who is	who is	Corporate
	interested in	interested in 3%
	Shareholder
	less than 3% of	or more of the
	the entire issued	entire issued
	Shares	Shares
Shareholder who is either a
resident in Japan or a	20.315%	20.420%	15.315%
company incorporated in
Japan(1)
Shareholder without a
permanent establishment in
Japan who is not a resident in	15.315%	20.420%	15.315%
Japan nor a company
incorporated in Japan

1. Shareholders holding the Shares in their own names and outside CCASS residing in Japan do not have to apply for a refund of withholding tax in general. The Company will apply the applicable withholding tax rate under the Japanese tax law shown above.

In case any valid tax convention between Japan and a Shareholder's tax residence applies, the Shareholder may enjoy a reduced withholding tax rate. Set forth below is a table showing the maximum withholding tax rate applied pursuant to the Hong Kong-Japan Tax Convention for purposes of illustration.

Maximum withholding tax rate under the Hong Kong-Japan Tax Convention

A company that has owned directly or indirectly, for the period of six
months ending on the Record Date, at least 10 percent (%) of the voting	5％
Shares being entitled to the dividend
Other Hong Kong residents	10％

The Hong Kong residents without a permanent establishment in Japan who are the Shareholders wishing to enjoy a reduced withholding tax rate under the Hong Kong-Japan Tax Convention, please refer to section E below for the required procedures to enjoy a reduced withholding tax rate. In case such Hong Kong resident Shareholders have not established their eligibility to the satisfaction of the NTA pursuant to the procedures as set out in section E below, they cannot enjoy a reduced withholding tax rate under the Hong Kong-Japan Tax Convention, and the Company will apply the withholding tax rate as described in the table "Shareholder holding the Shares in his/her own name and outside CCASS" above.

Shareholders residing outside Japan and without a permanent establishment in Japan who wish to enjoy a reduced withholding tax rate under any valid tax convention with Japan are strongly advised to consult their professional advisers as to the application of any valid tax

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convention between Japan and their respective tax residences. The Company does not assume any responsibility to ensure withholding is made at the reduced convention rate or to ensure no withholding is made for Shareholders who would be so eligible under any applicable income tax convention.

1. WITHHOLDING TAX APPLIED TO CCASS BENEFICIAL OWNERS General

Notwithstanding that CCASS Beneficial Owners are not recognized under the Companies Act as Shareholders, our tax adviser has confirmed that Japanese tax laws would recognize CCASS Beneficial Owners who hold their investments through CCASS, being the ultimate payees of any dividend, i.e. as tax payers. As such, the withholding tax rate applicable to the dividend paid to CCASS Beneficial Owners should, in principle, be the tax rate applicable to each CCASS Beneficial Owner on an individual basis in accordance with their identity, shareholding percentage and tax residence.

However, the Company is unable to apply a rate of withholding tax on an individual basis to CCASS Beneficial Owners in accordance with their identities, shareholding percentage and tax residences due to the inherent characteristics of CCASS. As a consequence, the Company will withhold the highest possible withholding tax under Japanese law on the dividends payable to CCASS Beneficial Owners.

Hong Kong resident CCASS Beneficial Owners

CCASS Beneficial Owners without a permanent establishment in Japan who are either residents in Hong Kong or corporations incorporated in Hong Kong will be subject to a withholding tax rate of 20.420%, which is the highest possible withholding tax rate under Japanese law. However, such Shareholders may claim a refund of taxes withheld in excess of the applicable rate as set out in the table below from the NTA after following the applicable filing procedures as set out in section F below.

	Highest possible		Highest possible
		rate of refund of
	withholding tax	Applicable tax
	taxes withheld in
	rate initially	rate on
	applied by the	individual basis	excess of
	the applicable
	Company
		rate
Individual Shareholder who
is interested in less than 3%	20.420%	15.315%	5.105%
of the entire issued Shares
Individual Shareholder who
is interested in 3% or more	20.420%	20.420%	0.000%
of the entire issued Shares
Other corporate	20.420%	15.315%	5.105%
Shareholder
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Japanese resident CCASS Beneficial Owners

1. CCASS Beneficial Owners who do not manage the Shares in the account with a securities company, etc. within Japan
   CCASS Beneficial Owners who are either residents in Japan or corporations incorporated in Japan who do not manage the Shares in the account with a securities company, etc. within Japan will be subject to a withholding by the Company at the tax rate of 20.420%, which is the highest possible withholding tax rate under Japanese law. However, they may claim a refund of taxes withheld in excess of the applicable tax rate set out in the table below from the NTA after following the applicable filing procedures as set out in section F below.

	Highest possible		Highest possible
	withholding tax	Applicable tax	rate of refund of
	rate initially	rate on	taxes withheld in
	applied by the	individual basis	excess of the
	Company		applicable rate
Individual
Shareholder who is
interested in less than	20.420%	20.315%	0.105%
3% of the entire
issued Shares
Individual
Shareholder who is
interested in 3% or	20.420%	20.420%	0.000%
more of the entire
issued Shares
Corporate	20.420%	15.315%	5.105%
Shareholder

1. CCASS Beneficial Owners who manage the Shares in the account with a securities company, etc. within Japan
   A Japanese resident CCASS Beneficial Owner who beneficially holds the Shares in the account with any securities company, etc. within Japan may be subject to withholding by such securities company, etc. in addition to withholding by the Company. In such event, they may claim a refund of taxes withheld in excess of the applicable tax rate set out in the table below, or the amount of the withholding tax withheld by the Company, from the NTA by following the applicable filing procedures as set out in section F below.

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	Highest	Rate of		Highest
		possible rate
	possible	withholding
	Applicable	of refund of
	withholding	tax applied
	tax rate on	taxes
	tax rate	by securities
	individual	withheld in
	initially	companies,
	basis	excess of the
	applied by	etc. within
		applicable
	the Company	Japan
		rate
Individual
Shareholder who
is interested in	20.420%	20.315%	20.315%	20.420%
less than 3% of
the entire issued
Shares
Individual
Shareholder who
is interested in	20.420%	20.420%	20.420%	20.420%
3% or more of the
entire issued
Shares
Corporate	20.420%	15.315%	15.315%	20.420%
Shareholder

CCASS Beneficial Owners other than Japanese or Hong Kong residents

CCASS Beneficial Owners without a permanent establishment in Japan who are neither residents in Japan or Hong Kong nor corporations incorporated in Japan or Hong Kong will be subject to a withholding tax rate of 20.420%, which is the highest possible withholding tax rate under Japanese law. However, they may claim a refund of taxes withheld in excess of the applicable rate set out in the table from the NTA after following the applicable filing procedures as set out in section F below.

	Highest possible		Highest possible
	withholding tax	Applicable	rate of refund of
	rate initially	tax rate on	taxes withheld in
	applied by the	individual basis	excess of the
	Company		applicable rate
Individual Shareholder
who is interested in	20.420%	15.315%	5.105%
less than 3% of the
entire issued Shares
Individual Shareholder
who is interested in 3%	20.420%	20.420%	0.000%
or more of the entire
issued Shares
Corporate Shareholder	20.420%	15.315%	5.105%
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1. PROCEDURES AND DOCUMENTARY REQUIREMENTS FOR SHAREHODLERS TO MAKE A CLAIM UNDER A TAX CONVENTION
   General
   The Company has confirmed with the NTA that the documents set out below will be required in order to make a claim under a tax convention. Please note that the requirements set out below would only be applicable to the Interim Dividend and may vary for subsequent dividends and distributions declared by the Company. All Shareholders are strongly advised to consult their professional advisers if they are in any doubt as to the implications of the Hong Kong-Japan Tax Convention or any other tax convention or the application process for any reduced rates on the Interim Dividend made by the Company.
2. • Shareholders residing outside Japan and without a permanent establishment in Japan who want to get the benefit of reduced or exempted domestic withholding income tax under any tax convention concluded between a country of a non-resident Shareholder and Japan such as the Hong Kong-Japan Tax Convention, and who are registered on the share register of the Company at the close of business on the Record Date ("Foreign Shareholders") are required to submit the "APPLICATION FORM FOR INCOME TAX CONVENTION" (the "Application of Tax Convention Form"), which is available at the website of the NTA, to the regional taxation office exercising jurisdiction over the head office of the Company via the Company pursuant to the provisions of the relevant tax convention.
   • If a Foreign Shareholder applies for the application of any tax convention that has limitation on benefits article, the "ATTACHMENT FORM FOR LIMITATION ON BENEFITS ARTICLE" (the "Attachment Form") and a "residency certification" issued by competent authority of country of residence (the "Residency Certification") must be submitted along with the Application of Tax Convention Form. Please note that as of the date hereof, the Hong Kong-Japan Tax Convention does not have limitation on benefits article.
   • A Foreign Shareholder who has been unable to submit the Application of Tax Convention Form and other required documents by the deadline may obtain a refund from the NTA of the amount withheld in excess of the maximum withholding tax rate applied under an applicable tax convention ex-post facto.
   • CCASS Beneficial Owners residing outside Japan and without a permanent establishment in Japan can make a claim for tax refund as described in section F below. Please note however that the NTA has confirmed that at this moment, CCASS Beneficial Owners cannot make a claim under a tax convention, because a CCASS Beneficial Owner cannot be identified since their name, address and other information to identify them are not available. Please also note that the Company has been in discussion with the NTA regarding the applicability of any tax convention between Japan and any other countries to CCASS Beneficial Owners residing in such other countries.

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Procedures and Documentary Requirements to Apply for Application of Tax Convention

Foreign Shareholders are required to submit an Application of Tax Convention Form duly completed and a copy thereof, which must reach the Company on or before Wednesday, 23 December 2020. If a relevant tax convention has limitation on benefits article, an Attachment Form and a Residency Certification (certification must have been issued within one (1) year prior to the showing) are also required. The required documents must be sent to either our Tokyo office or Hong Kong office specified below. A Foreign Shareholder who has already submitted an Application of Tax Convention Form does not need to re-submitan Application of Tax Convention Form again unless there is any change to any material information such as name and address.

(Addresses) (Tokyo Office)

Attention: General Affairs Group

Dynam Japan Holdings Co., Ltd.

2-25-1-702Nishi-Nippori,Arakawa-ku, Tokyo 116-0013, Japan

(Hong Kong Office)

Dynam Japan Holdings Co., Ltd.

Unit 1, 32/F, Hong Kong Plaza, 188 Connaught Road West, Hong Kong

Procedures and Documentary Requirements to Request for Refund of Overpaid Withholding Tax in Accordance with the Tax Convention

A Foreign Shareholder who has been unable to submit the required documents by the deadline mentioned above can still request for a refund of the amount of tax withheld by the NTA minus the amount of applicable withholding tax under the relevant tax convention by submitting in duplicate an "APPLICATION FORM FOR REFUND OF THE OVERPAID WITHHOLDING TAX", which is also available at the website of the NTA, together with an Application of Tax Convention Form prepared in duplicate (including attachment forms or documents if such attachments and documents are required), which must be sent to either our Tokyo office or Hong Kong office specified below.

(Addresses) (Tokyo Office)

Attention: General Affairs Group

Dynam Japan Holdings Co., Ltd.

2-25-1-702Nishi-Nippori,Arakawa-ku, Tokyo 116-0013, Japan

(Hong Kong Office)

Dynam Japan Holdings Co., Ltd.

Unit 1, 32/F, Hong Kong Plaza, 188 Connaught Road West, Hong Kong

The required documents must reach the Company within the period from the date immediately following the payment date of the Interim Dividend up to Wednesday, 31 March 2021(it is encouraged to have them mailed to the Company by around 28 February 2021 in order to obtain early refund). The NTA will directly transfer tax refunds into the bank accounts of the Foreign Shareholders.

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1. PROCEDURES AND DOCUMENTARY REQUIREMENTS FOR CCASS BENEFICIAL OWNERS TO REQUEST FOR REFUND OF OVERPAID WITHHOLDING TAX IN ACCORDANCE WITH JAPANESE LAW
   General
   The Company has confirmed with the NTA that the documents set out below will be required for the purpose of tax refund by CCASS Beneficial Owners pursuant to Japanese law. Please note that the requirements set out below would only be applicable to the Interim Dividend and may vary for subsequent dividends and distributions declared by the Company. Please also note that the Company has been in discussion with the NTA regarding the applicability of any tax convention between Japan and any other countries to CCASS Beneficial Owners residing in such other countries. In the event that the NTA has approved the application of tax convention to such CCASS Beneficial Owners, the Company will publish a separate announcement describing the procedures to make a claim under such tax convention.
   Required Documents to Request for Refund of Overpaid Withholding Tax in Accordance with Japanese law:
   CCASS Beneficial Owners who wish to claim a refund of withholding tax withheld in excess on the Interim Dividend in accordance with Japanese law must prepare the documents (the
   "Refund Application Documents") set out in 1. and 2. below
   1. "Application Form for Tax Refund" (the "Refund Application Form"), which is available at the website below;

http://www.dyjh.co.jp/english/ir/stock/information/Tax_REfund_Application_Form(Engli sh).pdf

Hard copies of the Refund Application Form are available at the following addresses, from 13 January 2021 till 31 March 2021.

1. The Company's office in Hong Kong:

Unit 1, 32/F, Hong Kong Plaza, 188 Connaught Road West, Hong Kong

1. Computershare Hong Kong Investor Services Limited, the share registrar of the Company:

Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong

In addition, unofficial Chinese translation of the Refund Application Form is also available at http://www.dyjh.co.jp/chinese/ir/stock/information/Tax_REfund_Applicati on_Form(Chinese).pdffor CCASS Beneficial Owners' reference.

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2. (In the event that Shares are managed at an account with a securities company, etc. within Japan)

A notice or statement issued by their respective securities companies, etc. within Japan which shows the receipt of the Interim Dividend and contains the following information:

1. name of the applicant;
2. (in case of individual) domicile or residence or (in case of corporation or other entity) place of head office or main office;
3. the account number of the account with the securities company, etc.;
4. the number of the Shares for which the applicant received the Interim Dividend payment;
5. the Interim Dividend payment date;
6. the Record Date;
7. the amount of the Interim Dividend per Share before withholding by the Company and the securities company, etc.;
8. the amount of the Interim Dividend per Share after withholding by the Company and before withholding by the securities company, etc.;
9. the amount of the Interim Dividend per Share after withholding by the Company and the securities company, etc.;
10. statement that the Japanese tax has already been withheld by the Company and the securities company, etc.; and
11. the total amount of the Interim Dividend after withholding by the Company and the securities company, etc..

If all the required information is not contained, the NTA may not refund.

(In the event that Shares are not managed at an account with a securities company, etc. within Japan)

A notice or statement issued by their respective securities companies, etc. which shows the receipt of the Interim Dividend and contains the following information:

1. name of the applicant;
2. (in case of individual) domicile or residence or, (in case of corporation or other entity) place of head office or main office;

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1. the account number of the account with a securities company, etc.;
2. the number of the Shares for which the applicant received the Interim Dividend payment;
3. the Interim Dividend payment date;
4. the Record Date#;
5. the amount of the Interim Dividend per Share before withholding by the Company#;
6. the amount of the Interim Dividend per Share after withholding by the Company;
7. the statement that the Japanese tax has already been withheld by the Company#; and
8. the total amount of the Interim Dividend after withholding by the Company.

• not mandatorily required, but preferable information

If all the required information is not contained, the NTA may not refund.

Submission and Deadline

CCASS Beneficial Owners can make tax refund applications directly or through their respective designated agents (such as their respective CCASS Participants) to the Company. In both cases, the Company will collect the Refund Application Documents and submit them to the NTA.

CCASS Beneficial Owners who wish to claim a refund of taxes withheld in excess on the Interim Dividend in accordance with Japanese law shall send the Refund Application Documents to either our Tokyo office or Hong Kong office specified below. The last date on which such applications would be accepted is Wednesday, 31 March 2021(it is encouraged to have them mailed to the Company by around 28 February 2021 in order to obtain early refund).

(Addresses) (Tokyo Office)

Attention: General Affairs Group

Dynam Japan Holdings Co., Ltd.

2-25-1-702Nishi-Nippori,Arakawa-ku, Tokyo 116-0013, Japan

(Hong Kong Office)

Dynam Japan Holdings Co., Ltd.

Unit 1, 32/F, Hong Kong Plaza, 188 Connaught Road West, Hong Kong

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Payment of Refund

A CCASS Beneficial Owner will have to fill in the details of their bank account for receiving the refunds (the "Refund Account") in the Refund Application Form. In case a CCASS Beneficial Owner submits the Refund Application Documents to the Company through its agent, the refunds will be directly transferred to the Refund Account designated by such agent. Refunds of withholding tax will be paid in Japanese yen in principle and, if paid to CCASS Beneficial Owners residing outside Japan such as Hong Kong, automatically converted into the denominated currency of the Refund Account at an exchange rate specified by the CCASS Beneficial Owner's own bank as of the time of payment of the Interim Dividend. It would take about two (2) to three (3) months until a tax is refunded after the Refund Application Form is accepted by the tax office.

1. CONTACT INFORMATION FOR ANY OTHER RELEVANT INFORMATION
   Please contact the Company if you have any queries in relation to the dividend amount, the exchange rate, the application for any tax convention, the Refund Application Documents, and any other relevant information.

(Contact	(Tokyo Office)
Information)	General Affairs Group
	Dynam Japan Holdings Co., Ltd.
	2-25-1-702Nishi-Nippori,Arakawa-ku, Tokyo 116-0013, Japan
	TEL: [phone]
	E-mail: [e-mail]
	(Hong Kong Office)
	Dynam Japan Holdings Co., Ltd.
	Unit 1, 32/F, Hong Kong Plaza, 188 Connaught Road West, Hong Kong
	TEL: [phone]

1. DEFINITIONS
   In this announcement, unless the context otherwise requires, the following terms have the meanings set out adjacent thereto:

"Board''

the board of Directors

"business day" any day (other than a Saturday, Sunday or public holiday of Japan) on which banks in Japan are generally open for normal banking business

"CCASS"the Central Clearing and Settlement System established and operated by HKSCC

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"CCASS	Beneficial	beneficial owners of the Shares who hold pecuniary interests and
Owner(s)"		voting rights in the Company with respect to the Shares deposited
			into CCASS and registered in the name of HKSCC Nominees.
			CCASS Beneficial Owners are not recognized as Shareholders
			under Japanese law
"CCASS	Clearing	a person admitted to participate in CCASS as a direct clearing
Participant"		participant or general clearing participant
"CCASS	Custodian	a person admitted to participate in CCASS as a custodian
Participant"		participant
"CCASS	Investor	a person admitted to participate in CCASS as an investor
Participant"		participant who may be an individual or joint individuals or a
			corporation
"CCASS Participant"	a CCASS Clearing Participant, a CCASS Custodian Participant or a
			CCASS Investor Participant
"Companies Act"	The Companies Act of Japan (Act No. 86 of 2005, as amended)
"Company''		DYNAM JAPAN HOLDINGS Co., Ltd., a stock company incorporated
			in Japan, the shares of which are listed on the Main Board of the
			Stock Exchange (stock code: 06889)
"Director(s)''		the director(s) of the Company or any one of them
"HKD"	or	"Hong	Hong Kong dollars and cents, the lawful currency of Hong Kong
Kong dollar"
"HKSCC"		Hong Kong Securities Clearing Company Limited, a wholly-owned
			subsidiary of Hong Kong Exchange and Clearing Limited
"HKSCC Nominees"	HKSCC Nominees Limited, a wholly-owned subsidiary of HKSCC
"Hong Kong''		the Hong Kong Special Administrative Region of the People's
			Republic of China
"Hong	Kong-Japan	the Agreement between the Government of Hong Kong and the
Tax Convention"	Government of Japan for the Avoidance of Double Taxation and
			Prevention of Fiscal Evasion with respect to Taxes on Income dated
			9 November 2010
"Japanese	yen'',	Japanese yen, the lawful currency of Japan
''JPY'' or yen''
"Listing	Rules''	the Rules Governing the Listing of Securities on the Stock Exchange
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"Main Board" the stock exchange (excluding the option market) operated by the Stock Exchange which is independent of and operated in parallel with GEM of the Stock Exchange

"Stock Exchange'' The Stock Exchange of Hong Kong Limited

"subsidiary(ies)" has the meaning ascribed to it under the Listing Rules

By order of the Board

DYNAM JAPAN HOLDINGS Co., Ltd.

Makoto SAKAMOTO

Chairman of the Board

Tokyo, Japan, 25 November 2020

As of the date of this announcement, the executive Director is Mr. Makoto SAKAMOTO, the non- executive Directors are Mr. Yoji SATO, Mr. Kohei SATO and Mr. Akira HOSAKA, and the independent non-executive Directors are Mr. Mitsutoshi KATO, Mr. Thomas Chun Kee YIP, Mr. Kei MURAYAMA, Mr. Kiyohito KANDA and Mr. Koji KATO.

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