August 7, 2024
Company name: MIYAJI ENGINEERING GROUP, INC.
Representative:

Shigetoshi Aota, President andRepresentative Director(Securities code: 3431, Prime Market,
Tokyo Stock Exchange)

Inquiries:

Akinobu Endo, Operating Officer andGeneral Manager, Planning andManagement Department(E-mail:meg.IR@miyaji-eng.co.jp)

Notice on the Share Split, and the Partial Amendment to the Articles of Incorporation and the Revision of
Dividend Forecasts associated with the Share Split
MIYAJI ENGINEERING GROUP, INC. (the “Company”) hereby announces that it was resolved asfollows at the Board of Directors meeting held today, regarding the share split and the partial amendment tothe Articles of Incorporation as well as the revision of dividend forecasts for the fiscal year ending March 31,2025 (the 22nd fiscal year) that are associated with the share split.
The aforementioned share split shall be implemented as part of the measures to be adopted under the“Action to Implement Management that is Conscious of Cost of Capital and Stock Price (FY2024)” asannounced today.
1. Share split(1) Objectives of the share split
The share split shall be implemented with the aim of developing an investor-friendly environmentby reducing the transaction amount per investment unit (share unit number), thereby enhancing theliquidity of the Company’s shares while widening the range of investors.
(2) Outline of the share split
1) Method of the share split
One common share of the Company held by shareholders who are registered or recorded in the final
shareholder registry on September 30, 2024 shall be split into two.
2) Increase in the number of shares as a result of the share split
Total number of shares outstanding before the share split
Increase in the number of shares as a result of the share splitTotal number of shares outstanding after the share split
Total number of authorized shares after the share split

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13,838,908 shares
13,838,908 shares
27,677,816 shares
110,711,200 shares

3) Time schedule of the share split
Date of public notice of the record date
Record date
Effective dateAugust 30, 2024 (Friday)
September 30, 2024 (Monday)
October 1, 2024 (Tuesday)4) Impact of the share split
While the total number of shares outstanding will be doubled by the share split, the amount of net
assets (the amount of equity capital) will remain the same. Thus, the amount of net assets per share will
be halved. Theoretically, the asset value of the Company’s shares will not change insofar as other factors,
such as fluctuations in the share price are excluded.
As the number of shares is doubled, apparent indicators such as basic earnings per share and thedividend per share shall also be halved from the current figures. However, the total amount of profit ordividend will not change.
Furthermore, the amount of shareholders’ equity will also remain unchanged.
2. Partial amendment to the Articles of Incorporation associated with the share split(1) Reason for the amendment
In line with the share split, a partial amendment shall be made to the Articles of Incorporation of theCompany effective October 1, 2024, pursuant to the provisions of Article 184, Paragraph 2 of theCompanies Act.
(2) Description of the amendment
A description of the amendment is as follows.
(Amended parts are underlined.)
Amended Articles of Incorporation

Current Articles of Incorporation(Total Number of Authorized Shares)(Total Number of Authorized Shares)

Article 5. The total number of shares authorized
to be issued by the Company shall be55,355,600.

Article 5. The total number of shares authorized
to be issued by the Company shall be
110,711,200.

(3) Time schedule of the amendment to the Articles of Incorporation
Date of resolution at the Board of Directors
August 7, 2024 (Wednesday)
Effective date
October 1, 2024 (Tuesday)
3. Revision of dividend forecasts for the fiscal year ending March 31, 2025 (the 22nd fiscal year)(1) Reason for revision of dividend forecasts
The revision of dividend forecasts is based on a revision of the year-end dividend forecast due to theshare split effective October 1, 2024.
As in the previous forecast (announced on May 14, 2024), the Company’s target dividend payout
ratio is 60% for the fiscal year ending March 31, 2025, the same as in the previous fiscal year. However,the forecast for the year-end dividend per share has been revised to one-half of the previous forecast due
to the share split, and the total amount of dividends will remain unchanged.
The dividend at the end of the second quarter (interim dividend) and the year-end dividend shall bepaid after the formal decision by the resolution of the Board of Directors meeting scheduled to be held2

in November 2024, and by the resolution at the 22nd Annual General Meeting of Shareholders of theCompany scheduled to be held in June 2025, respectively.
(2) Details of the revision
Annual dividends per share for the fiscal year ending March 31, 2025
Second quarter-end
Fiscal year-end
Total
Yen
Yen
Yen
Previous forecast(announced on May 14, 2024)

85.00

110.00195.00

Revised forecast(before reflecting the share split)

85.00(85.00)55.00(110.00)―(195.00)(Reference) Actual dividends for the170.00
107.00―previous fiscal year (fiscal year(* 85.00)(* 107.00)(* 192.00)
ended March 31, 2024)
Notes: 1. The Company conducted a share split in which one common share of the Company was split
into two, effective October 1, 2023. The total amount of actual dividends for the previous fiscalyear (fiscal year ended March 31, 2024) (on an annual basis) is not indicated due to the difficultyof a straightforward comparison as a result of the share split. However, the actual annual
dividends per share after taking into consideration the share split will be ¥192 per share.
(*: Actual dividends for the previous fiscal year after taking into account the share split)
2. The dividend at the end of the second quarter of the fiscal year ending March 31, 2025, withthe record date of September 30, 2024, shall be based on the number of shares before the sharesplit.
3. The year-end dividend for the fiscal year ending March 31, 2025, with the record date of March31, 2025, shall be based on the number of shares after the share split.
4. The total amount of the revised forecast (on an annual basis) is not indicated due to the difficultyof a straightforward comparison as a result of the share split. The projected annual dividend
without reflecting the share split is ¥195 per share, which is substantially unchanged from theprevious forecast (announced on May 14, 2024).

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