To Whom It May Concern
November 29, 2017
Company Name:
Milbon Co., Ltd.
Title of Representative:
Ryuji Sato, President and CEO(Code Number: 4919 - First Section of the Tokyo Stock Exchange)
Inquiry:
Masahiro Murai, Managing Director
Telephone:+81-3-3517-3915

Stock Split and Partial Amendment to the Articles of Incorporation; Revision of the Dividends
Forecast (Dividend Increase)

Milbon Co., Ltd. (hereinafter referred to as “the Company”) hereby announces that the Company, at themeeting of the Board of Directors held on November 29, 2017, resolved to conduct a stock split, partial
amendment to the Articles of Incorporation, and revision of the forecast of the year-end dividend per share for thefiscal year ending December 31, 2017.

1. Stock split(1) Purpose of the stock split
The Company intends to provide an environment where investors can invest more easily, as well as toexpand the investor base and improve the liquidity of the Company’s stock, by conducting the stock split andlowering the price of the investment unit.

(2) Overview of the stock split
1) Method of the stock split
The stock split shall be conducted by splitting the stocks held by shareholders whose names are recordedin the latest shareholder register on the record date of Sunday, December 31, 2017 (in effect, Friday,December 29, 2017) at a ratio of two for one.

2) Number of shares increased through the stock split(i) Total number of issued shares prior to the

16,558,617 sharesstock split(ii) Number of shares increased through the

16,558,617 sharesstock split(iii) Total number of issued shares after the33,117,234 sharesstock split(iv) Total number of authorized shares after thestock split

120,408,000 shares(3) Time schedule of the stock split(i) Public notice date of the record date

Friday, December 15, 2017(ii) Record date

Sunday, December 31, 2017(iii) Effective date

Monday, January 1, 2018

2. Partial amendment to the Articles of Incorporation(1) Reason for the amendment
In conjunction with the proposed stock split, the Company, pursuant to the provisions of Article 184,
Paragraph 2 of the Companies Act, shall revise the total number of authorized shares stipulated in Article 6 of
the Company’s Articles of Incorporation, effective January 1, 2018.

(2) Details of the amendment(The underlined parts represent the amendments.)
Current

Amended Article of Incorporation(Total Number of Authorized Shares)(Total Number of Authorized Shares)

Article 6. The total number of authorized shares

Article 6. The total number of authorized sharesof the Company shall be 60,204,000 shares.

of the Company shall be 120,408,000 shares.

(3) Time schedule
Effective date of the partial amendment to the Articles of Incorporation: Monday, January 1, 2018

3. Revision of the dividends forecast (dividend increase)(1) Reason for revision of the dividends forecast
As announced in “Change in Fiscal Period (Closing Date of Business Year) and Partial Amendments to theArticles of Incorporation; Revision of Operating Forecasts Associated with the Fiscal Period Change,” dated
February 24, 2017, the current fiscal year will be irregular, exceeding 12 months in length. While revisions
were made accordingly to the operating forecasts at that time, revisions to the dividends forecast had beendeferred. However, given that the financial results for the current fiscal year have progressed as planned, andhaving comprehensively taken into account the proceeds from the partial sales of shares that had been held as
cross holdings, the Company, with regard to the dividends forecast for the fiscal year ending December 31,
2017, has increased the initially forecasted year-end dividend of 42 yen per share by 10 yen and revised thedividend to 52 yen per share. Consequently, the annual dividend per share for the fiscal year ending December
31, 2017 shall be 92 yen, which includes the interim dividend of 40 yen.

(2) Details of the revision

Annual dividends (Yen)End of 2nd quarterEnd of fiscal year

Total

Previous forecast

4282

Revised forecast

5292

4078

Actual results of thefiscal year ending

40

December 31, 2017
Actual results of thefiscal year ended38

December 20, 2016

4. Other(1) Capital
The stock split does not increase the amount of the Company’s capital.

(2) Year-end dividend for the fiscal year ending December 31, 2017
As the stock split shall become effective on January 1, 2018, the year-end dividend for the fiscal year ending
December 31, 2017 shall be paid based on the number of shares prior to the split.