JVCKENWOOD : Consolidated Earnings and Dividend Forecasts for the Fiscal Year Ending March 2021

TRANSLATION - FOR REFERENCE ONLY

Company	JVCKENWOOD Corporation
Representative	EGUCHI Shoichiro
	Representative Director of the Board,
	President and CEO
	(Code: 6632; First Section of the
	Tokyo Stock Exchange)
Contact	ENDO Isamu
	General Manager,
	Corporate Communication Department
	(Tel: [phone])

Consolidated Earnings and Dividend Forecasts for the Fiscal Year Ending March 2021

JVCKENWOOD Corporation (JVCKENWOOD) hereby announces that the consolidated earnings and dividend forecasts for the fiscal year ending March 2021, which were stated as undecided in "Accounting Report for the Fiscal Year Ended March 2020 (April 1, 2019 - March 31, 2020)" issued on May 20, 2020, have been decided as shown below.

1. Consolidated Earnings Forecast for the Fiscal Year Ending March 2021 (April 1, 2020 - March 31, 2021)

		Operating	Profit before	Profit	Basic net income
(Million yen)	Revenue	attributable to
profit	income taxes	per share
		owners of parent
Forecast announced at the	－	－	－	－	yen
beginning of period (A)	－
Forecast announced this	260,000	2,000	850	-1400	yen
time (B)	-8.54
Amount of Change (B − A)	－	－	－	－
Rate of Change (%)	－	－	－	－
Results for the Previous	291,304	4,080	2,877	954	yen
Fiscal Year	5.82

2. Dividend Forecast for the Fiscal Year Ending March 2021

Annual dividend

	End of 1Q	End of 2Q	End of 3Q	Year-end	Total

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TRANSLATION - FOR REFERENCE ONLY

Forecast announced at	yen	yen		yen		yen	yen
the beginning of period	－	－	－		－		－
(Announced on May 20,
2020)
Forecast announced this	－	0.00	－			5.00	5.00
time
(Announced on August 3,
2020)
Results for the Fiscal	－
Year Under Review
Results for the Previous
Fiscal Year	－	0.00	－			5.00	5.00
(Fiscal Year Ended
March 2020)

3. Reason for the announcement

The consolidated earnings forecast for the fiscal year ending March 2021 was stated as undecided since it was difficult to reasonably calculate the impacts of the novel coronavirus pandemic on JVCKENWOOD's consolidated earnings at the time of announcing the consolidated earnings for the fiscal year ended March 2020 on May 20, 2020.

While the situation surrounding the novel coronavirus remains uncertain and it is difficult to accurately calculate future impacts, the announcement is made today as the results calculated based on currently available information and certain assumptions.

JVCKENWOOD's most important management priorities include stable distribution of profits and ensuring the necessary management resources for future growth. JVCKENWOOD's dividend policy is to determine the amount of the dividend of surplus and other amounts appropriated by giving comprehensive consideration to the Group's profitability and financial position. Based on the above consolidated earnings forecast, JVCKENWOOD is scheduled to pay a dividend of 5.00 yen.

Since the consolidated earnings and dividend forecasts may fluctuate widely due to external factors such as the timing of the end of novel coronavirus and changes in the extent of its impact, announcement will be made promptly if changes in the Group's earnings and dividend forecasts become necessary in the future.

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