August 5, 2020
To Whom It May Concern
Company NameMilbon Co., Ltd.
Representative
Ryuji Sato, President and CEO(Code Number: 4919 - First Section of the Tokyo Stock Exchange)
Inquiries
Masahiro Murai, Executive Director
TEL: +81-3-3517-3915

Notice of Revisions to Earnings and Dividend Forecasts and Dividends from Surplus (Interim Dividends)
The earnings forecast and dividend forecast for the fiscal year ending December 2020, which have not been determined in theconsolidated financial results for the first quarter of the fiscal year ending December 2020 announced on May 12, 2020, are as follows.
At the Board of Directors meeting held on August 5, 2020, we resolved to pay an interim dividend based on the record date of June30, 2020 as follows.

1．Revision of Earnings Forecast and Dividend Forecast(1) Revision of Consolidated operating forecasts for the fiscal year ending December 31, 2020 (January 1, 2020-December 31, 2020)
Net sales
Previously announced

Basic earnings

owners of parent

per share

Ordinary income

Million yen

Million yen

Million yen

Million yen

Yen―――――outlook (A)Current revised outlook (B)Profit attributable toOperating income

34,900

5,930

5,280

3,840

117.95

Increase (B-A)

――

―

―

―

Year-on-year change (%)

―

―

―

―

―

36,266

6,751

6,231

4,517

137.99(Reference) Results for theprevious fiscal year
(Year ended December 31,2019)(2) Change of forecasts for cash dividends
Annual dividends

Previous Forecast
Revised forecast
Results for the current
fiscal year

End of 1st quarterEnd of 2nd quarterEnd of 3rd quarterEnd of fiscal year

Total

Yen

Yen

Yen

Yen

Yen

――

―

―

―

―

―

―

29.00

56.00

―

27.00

―

―

27.00

―

29.00

56.00

(Reference) Results
for the previous fiscal year
(Year ended December 31,2019)

(3) Reason for the amendment
In the first quarter report of the fiscal year ended December 2020, which was announced on May 12, 2020, we did not predict theresults forecast and the distribution forecast for the fiscal year ending December 2020 because there is no prospect for therestriction of beauty room operations due to the issuance of an emergency declaration accompanying the spread of the spread of
the new corona viruses or for the convergence of the decline of customers coming to the store, and it is difficult to calculate theresults forecast and the distribution forecast rationally. At this point in time, there is uncertainty about the future, but we have madeforecasts for operating results and dividends assuming that the spread of the new coronavirus will gradually converge from thethird quarter of the fiscal year under review.
The forecasts of operating results and dividends cannot be denied that unexpected changes may occur due to exogenous factors,
such as the spread and convergence of the new coronavirus. Therefore, the forecasts will be revised promptly if significant
fluctuations are anticipated.

2．Dividends from retained earnings (interim dividends)(1) Details of dividends
Determined amount
Record dateJune 30, 2020

Dividend per ShareTotal amount of dividends

Latest dividend forecast

Results for the previous fiscal year

(May 12, 2020)
June 30, 2020

June 30, 201927 yenTBD

27 yen877 Million yen―

883 Million yen

Effective dateAugust 28, 2020―

August 21, 2019

Dividend resource

Retained earnings―

Retained earnings(2) Reasons for dividends
We regard returning profits to shareholders as an important management issue, and our basic policy is to distribute profits inaccordance with business performance while strengthening our corporate structure through internal reserves to improve
profitability in the future.
In the period ending December 2020, the Company has decided to make an interim distribution for the period. However, as a resultof comprehensive consideration of the announced performance forecast and the policy mentioned above, we have decided to set
the value at 27 per share, which is the same as that of the previous period.