Furukawa Electric : Notice of Dividend from Surplus for the Fiscal Year Ended March 31, 2023 (Dividend Increase)

May 11, 2023

Name of Company Furukawa Electric Co., Ltd.

Name of Representative Hideya Moridaira, President

Contact	(Code: 5801	Prime Market of the Tokyo Stock Exchange)
Mami Masuda,

Corporate Vice President and General Manager of Investor Relations Dept.,

Finance & Accounting Dvision

(TEL [phone])

Notice of Dividend from Surplus for the Fiscal Year Ended March 31, 2023 (Dividend Increase)

We announce that our Board of Directors, at a meeting held on May 11, 2023, resolved to submit a proposal to the 201st Ordinary General Meeting of Shareholders to be held on June 23, 2023, for the payment of dividends from surplus with a record date of March 31, 2023, as described below.

1. Details of dividends

	Decided Amount	Most Recent	Dividend for the Last
	Dividend Estimate	Fiscal Year
		(announced on May 12, 2022)	(Fiscal Year ended March 2022)
Record date	March 31, 2023	Same as left	March 31, 2022
Dividend per Share	80 yen	60 yen	60 yen
Total Dividends	5,649 million yen	－	4,237 million yen
Effective Date	June 26, 2023	－	June 24, 2022
Dividend Source	Other Retained Earnings	－	Other Retained Earnings

2. Reason

Under our Medium-term Management Plan "Road to Vision 2030​-Transform​ and Challenge," our basic capital policy and cash allocation policy is to continuously increase corporate value and return profits to shareholders in a stable and continuous manner by securing a financial base that will enable us to invest in growth areas and achieve growth. We will pay dividends linked to business performance with a target of 30% of net income attributable to owners of the parent.

For the fiscal year ended March 31, 2023, we have decided to pay a year-end dividend of 80 yen per share, up 20 yen from the previous forecast of 60 yen per share, in consideration of the business performance of the current fiscal year.

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