Mitsubishi Estate : Announcement of Dividends of Surplus (Dividend Increase) (PDF 191KB)

		May 13, 2021
To whom it may concern:
Company name:	Mitsubishi Estate Co., Ltd.
Representative:	Junichi Yoshida, President
	and Chief	Executive Officer
Securities code:	8802
Contact:	Motohiro	Sato,
	General Manager of the
	Corporate Communications Department
Telephone:	[phone]

Announcement of Dividends of Surplus (Dividend Increase)

Mitsubishi Estate Co., Ltd. (hereafter the "Company") hereby announces that at the meeting of its Board of Directors held on May 13, 2021, the Company resolved to pay a dividend of surplus with March 31, 2021 as the record date.

1. Details of Dividend Distribution

		Most Recent	Dividends for the
	Amount determined	Dividend Estimate	previous fiscal year
		(Announced Feb 10, 2021)	(Ended March 31, 2020)
Record date	March 31, 2021	March 31, 2021	March 31, 2020
Dividend per share	¥19	¥18	¥18
(JPY)
Total Dividends	¥25,433million	－	¥24,092million
Effective Date	June 30, 2021	－	June 29, 2020
Dividend Resource	Retained Earnings	－	Retained Earnings

2. Reason for the Announcement

Although the Company recognizes capital requirements for future business developments such as the redevelopment of Marunouchi, it focuses on the provision of an appropriate return to all shareholders as a key point of the basic policy on dividends by considering overall performance levels and business environment in real estate market etc. In terms of dividends for both FY2021 and FY2022, the Company has decided to aim for consolidated payment ratio of 30%.

Interim dividends for FY2021 are ¥12 yen per share. Upon balancing the accounts, profit attributable to owners of parent had increased compared with the most recent full-year

financial forecasts. Therefore, the year-end dividend is scheduled to be increased by ¥ 1, up to ¥ 19 per share (annual dividend payout is ¥ 31 per share). This matter is up for discussion at the 122nd ordinary general meeting of shareholders, scheduled for June 29, 2021.

Reference: Annual Dividend Breakdown

	Dividend per Share (JPY)
Record date	End of Second Quarter	Year-end	Annual
Actual Dividends for
Current Fiscal Year	¥12	¥ 19	¥ 31
(ended March 31, 2021)
Actual Dividends for
Previous Fiscal Year	¥15	¥18	¥33
(ended March 31, 2020)

Reference: After the above dividends policy, forecasts and other factors were taken into account, the interim dividend are expected to be ¥16 per share and the year-end dividend are ¥17 per share, and the annual dividend payout ¥33 per share for FY2022(Ending March 31, 2022).

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