Yukiguni Maitake : Dividends of Surplus

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

May 11, 2023

For Immediate Release

Company Name: YUKIGUNI MAITAKE CO., LTD.

Representative: Masafumi Yuzawa, President and CEO,

Representative Director

(Tokyo Stock Exchange, Prime Market:1375)

Inquiries: Takenori Sakurai, Senior Executive Officer

(Chief Financial Officer)

Tel: [phone]

Dividends of Surplus

Yukiguni Maitake Co., Ltd. (the "Company") hereby announces that, at the meeting of the Board of Directors held on May 11, 2023, the Company resolved to pay a year-end dividends of surplus with a record date of March 31, 2023 as follows.

1. Detail of dividends

		Recent forecast	Previous year
	Agreed amount	(Announced on February 9,	(Fiscal year ended
		2023)	March 31, 2022)
Record date	March 31, 2023	March 31, 2023	March 31, 2022
Dividends per share	JPY 6.00	JPY 16.00	JPY 16.00
Total dividend	¥239million	-	¥637million
payments
Date of enforcement	June 7, 2023	-	June 27, 2022
Dividend resource	Retained earnings	-	Retained earnings

2. Reason for dividends forecast revision

The Company recognize that an important management issue is to strive to return profits to shareholders while securing internal reserves for the continuous improvement of corporate value.

The Company also believes that retained earnings will be utilized for future growth of the company, which is still in the growth stage, thereby to improve our corporate value over the medium- to long-term and to return profits to our shareholders.

In the previous fiscal year, the Company has appealed to consumers through sales of its new product "Yukiguni maitake Kiwami White" and aggressive use of media and digital tools, but the business environment remains uncertain and continues to put pressure on profit, with soaring raw material and energy prices due to the prolonged situation in Ukraine.

In consideration of the future business environment and our financial situation, we believe it is of utmost importance to strengthen our management base at this point of time.

Therefore, we have decided to pay a year-end dividends of JPY 6 per share for the fiscal year ended March 31,

2023, and will continue to strive to meet the expectations of our shareholders. We would highly appreciate the understanding of all our shareholders.

(end)