May 13, 2021
SEIKAGAKU CORPORATION(Securities Code: TSE 4548)

Seikagaku Announces Dividend from Retained Earnings (CommemorativeDividend) for the Fiscal Year Ended March 31, 2021 and Forecast of Dividend
from Retained Earnings (Special Dividend) for the Fiscal Year Ending March31, 2022
Seikagaku Corporation (Tokyo, Japan; “Seikagaku”) announced today that at a meeting
held today, the Board of Directors resolved to propose payment of a dividend fromretained earnings with a record date of March 31, 2021 at the 75th Ordinary General
Meeting of Shareholders, scheduled to be held on June 22, 2021, and also resolved theforecast of dividend from retained earnings for the fiscal year ending March 31, 2022.
1. Dividend from surplus for the fiscal year ended March 31, 2021 (year-end dividend)(1) Details of dividend
Decided amount

Most recent dividend forecast(To be proposed at the 75th
Ordinary General Meeting of (Announced September 24, 2020)
Shareholders on June 22, 2021)

Dividend for the fiscal year
ended March 31, 2020

Record date

March 31, 2021

March 31, 2021

March 31, 2020

Dividend per share

Ordinary dividend: ¥10.00
Commemorative dividend:¥4.00
Total: ¥14.00

Ordinary dividend: ¥10.00

Ordinary dividend: ¥13.00

Total dividend
amount¥790 million--¥733 million

Effective dateJune 23, 2021--

June 22, 2020

Source of funds for
dividend

Retained earnings--

Retained earnings(2) Reason
Seikagaku obtained approval in Japan for manufacturing and marketing of the joint
function improvement agent JOYCLU 30mg Intra-articular Injection on March 23, 2021. In
connection with this, to express gratitude to the shareholders for their constant support,
Seikagaku has decided to submit to the 75th Ordinary General Meeting of Shareholders,scheduled to be held on June 22, 2021, a proposal with respect to the year-end dividend
for the fiscal year ended March 31, 2021 to pay a total dividend of ¥14 per share, toconsist of an ordinary dividend of ¥10 and a JOYCUL approval commemorative dividendof ¥4. This will result in an annual dividend of ¥24 per share, including the interim dividendof ¥10 per share.
< Reference information >Dividend per Share
Interim dividend(end of second quarter)Year-end dividendTotal
Ordinary dividend: ¥20.00
Commemorative dividend:¥4.00
Total: ¥24.00
Ordinary dividend: ¥26.00

Dividend for the
fiscal year ended
March 31, 2021

Ordinary dividend: ¥10.00

Ordinary dividend: ¥10.00
Commemorative dividend:¥4.00
Total: ¥14.00

Dividend for the
fiscal year ended
March 31, 2020

Ordinary dividend: ¥13.00

Ordinary dividend: ¥13.00

1

2. Forecast of dividend from surplus for the fiscal year ending March 31, 2022
(1) Details of dividend
Dividend per ShareDividend per share

Dividend for the
fiscal year ended
March 31, 2021

Interim dividend(end of second quarter)
Ordinary dividend:¥10.00Special dividend:¥5.00
Total: ¥15.00
Ordinary dividend: ¥10.00

Year-end dividend

Total

Ordinary dividend:¥10.00Special dividend:¥5.00
Total: ¥15.00
Ordinary dividend: ¥10.00
Commemorative dividend:¥4.00
Total: ¥14.00

Ordinary dividend:¥20.00Special dividend:¥10.00Total: ¥30.00
Ordinary dividend: ¥20.00
Commemorative dividend:¥4.00
Total: ¥24.00(2) Reason
Seikagaku plans to pay an annual dividend from surplus of ¥30 per share for the fiscal
year ending March 31, 2022, to consist of an ordinary dividend of ¥20 (including an interim
dividend of ¥10) and a special dividend of ¥10 (including an interim dividend of ¥5) to markthe launch of JOYCLU.
Seikagaku plans to promptly commence sales of JOYCLU through sales partner Ono
Pharmaceutical Co., Ltd. following the National Health Insurance drug price listing.
Note: The above forecast has been prepared on the basis of economic circumstances,market trends, and other assumptions made at the time of release of this document. Actual
results may differ from the forecast due to a variety of factors.

#######

2