Fuji Electric : Announcement of the Payment of Dividend from Retained Earnings

May 23, 2024

Company Name: Fuji Electric Co., Ltd.

Representative: Michihiro Kitazawa, Chairman of the Board and Chief Executive Officer Code Number: 6504, listed on the TSE Prime and NSE Premier; and on FSE Contact: Taizou Kishi, General Manager, Corporate Planning Office Corporate Management Planning Headquarters Telephone: [phone]

Payment of Dividends from Retained Earnings

A meeting of the Board of Directors of Fuji Electric Co., Ltd., convened today approved a payment of dividends from retained earnings with a record date of March 31, 2024, as follows.

1. Details of Year-end Dividend

	Today's resolution	Recent forecasts	Fiscal 2022
		(announced April 25, 2024)	(ended March 31, 2023)
Record date	March 31, 2024	March 31, 2024	March 31, 2023
Dividend per share	¥75.00	¥75.00	¥60.00
Total dividends	¥10,712 million	―	¥8,570 million
Effective date	June 5, 2024	―	June 7, 2023
Source of dividends	Retained earnings	―	Retained earnings

2. Reason

We intend to return profit gained through business activities to shareholders. At the same time-while maintaining and strengthening our management foundation-we intend to appropriate profit for consolidated shareholders' equity in order to secure internal reserves for research and development, capital investment, development of human resources, and other investments reflecting a medium-tolong-term viewpoint. At the same time, the Company aims to provide its shareholders with stable dividend payments on a continuing basis.

Based on this policy, the Company plans to issue a year-end dividend payment of ¥75 per share for fiscal 2023.

(Reference) Annual Dividend Breakdown

		Dividend per share
Record date	Interim	Year-end	Annual
Fiscal 2023	¥60.00	¥75.00	¥135.00
Fiscal 2022	¥55.00	¥60.00	¥115.00
(ended March 31, 2023)