Date: July 27, 2020

Listed company name: Nitto Denko Corporation

Stock exchange listing: Tokyo, First Section

Code number: 6988

Company representative: Hideo Takasaki, President

Contact person: Kenjiro Asuma

Vice President

Corporate Strategy Management Division

Phone: +81-6-7632-2101

Announcement of Full-year Consolidated Financial and Dividend Forecasts

for Fiscal Year Ending March 31, 2021

Nitto Denko Corporation (the "Company") announced today its full-year financial and dividend forecasts for the fiscal year ending March 31, 2021, which were not determined in the Summary of Consolidated Financial Statements of Fiscal 2019 (12 Months Ended March 31, 2020 (IFRS Basis)) announced on April 27, 2020.

1. Consolidated Financial Forecasts

1. Forecasts for the first half ending September 30, 2020 (April 1, 2020 through September 30, 2020)

(Note) There is no difference from the previous forecasts disclosed on April 27, 2020.

(2) Forecasts for fiscal year ending March 31, 2021 (April 1, 2020 through March 31, 2021)

(3) Reason for disclosure of full-year consolidated financial forecasts

We have not been able to determine consolidated financial and dividend forecasts for the fiscal year ending March 31, 2021, as it was difficult to estimate the impact of COVID-19 on our financial results rationally. However, now that the restrictions on the movement of people, etc. have been eased in various countries, we hereby announce the forecasts, which are based on currently available data and projections concerning the impact on our Group companies.

(4) Segment information

Industrial Tape

For Functional Base Products, we expect that the impact of COVID-19 will be mitigated overall toward the end of the current fiscal year but that demand for general-purpose industrial materials and housing-related products will weaken compared to the previous fiscal year.

For the Transportation Business, we expect that demand for automobiles will recover toward the end of the current fiscal year, but not to the previous year's level due to the lingering impact of COVID- 19.

Optronics

For Information Fine Materials, we expect demand for notebook and tablet computers to increase as work styles have diversified and more people are working from home due to COVID-19. Meanwhile, demand for TV and smartphone applications is expected to decline.

Regarding Flexible Printed Circuits, we expect that the impact of COVID-19 will be mitigated toward the end of the current fiscal year. In addition, as we make further inroads into non-HDD applications, we expect this business to perform strongly.

Life Science

COVID-19 is still dampening the market for nucleic acid medicine, but growth potential remains as research and development activities and clinical trials continue. We expect that the oligonucleotide contract manufacturing service and its related businesses will continue to drive the performance of this segment.

Others

For Membranes, we expect that the impact of COVID-19 will be mitigated toward the end of the current fiscal year but that demand for seawater desalination and industrial applications, as well as demand in the energy field, will decrease from the previous fiscal year.

2. Dividend forecasts

1. Dividend forecasts for the fiscal year ending March 31, 2021

(2) Reasons for disclosure of dividend forecasts

The Company's basic dividend policy is to ensure stable and fair returns to its shareholders. At the same time, it is essential to make proactive investments in research and development and production from internal reserves in order to stay abreast of rapid technological innovation and meet customer demand in a timely manner. Dividends to shareholders are determined by taking into account various factors, including the investment opportunities in the future, financial position, capital efficiency, profit levels, and payout ratio. The use of internal reserves is also determined by taking into account various factors with regular level checks.

In accordance with this policy, the Company plans to pay an annual dividend of 200 yen per share for the fiscal year ending March 31, 2021, which includes an interim dividend of 100 yen.

• Explanations for adequate utilization of the forecast and other special matters
  The financial forecasts, forward-looking statements, etc. above are prepared based on information currently available to the Company and therefore involve potential risks and uncertainties, depending on the termination of COVID-19. Please note that actual results may differ from forecasted figures due to various unknown factors.