News Release: TAKASHO CO., LTD.

(7590 TSE1)
December 14, 2020

Notice of Revisions to Business Forecasts andDividend Forecasts (Increase Dividend)
At the Board of Directors Meeting held today, TAKASHO CO., LTD. has resolved to revise its
business forecasts and dividend forecasts for the fiscal year ending January 2021, whichwere announced on August 25, 2020, in view of recent trends in operating results.

1. Revision to business forecasts
Revision to consolidated full-year business forecasts for the fiscal year ending January 2021
(January 21, 2020 – January 20, 2021)

Net salesPrevious forecasts (A)Revised forecasts (B)Increase/decrease (B-A)
Percentage change (%)(Reference)Previous results (FY1/20)

OperatingincomeOrdinary
incomeMillion yen

Net income
attributable toowners ofparent
Million yen

Net income
per share

Million yen

Million yen

18,400

1,010

910

640

43.90

18,400

1,195

1,100

771

52.89

00.0

185
18.3

190
20.9

131
20.5

-

17,357

531

469

203

13.93

Yen

Reason for the revision
Concerning the COVID-19 infection, the economic activities show signs of resumption since
the lifting of the State of Emergency declaration, and our current performance has begun toshow some signs of recovery.
The impact of the spread of COVID-19 remains unpredictable. Even such an environment,
our operating income, ordinary income, and net income attributable to owners of parent are
expected to exceed the previous forecasts owing to the continued improvement in the grossprofit margin resulting from the change in the composition of products sold and customers, aswell as the expected decrease in SG&A expenses, mainly for sales activities.
In light of these circumstances, we have decided to revise our full-year consolidated business
forecasts as described above.

2. Revision to dividend forecasts

End-1Q

End-2Q

Annual dividend
End-3Q

Year-end

Total

Yen

Yen

Yen

Yen

Yen---

13.00

13.00

Revised forecasts

---

16.00

16.00

Current results

-

0.00

-

Previous results(FY1/20)

-

0.00

-

10.00

10.00

Previous forecasts(announced on August 25,2020)

Reason for the revision
We regard the return of profits to our shareholders as one of our most important management
issues. Our basic policy on the distribution of surplus is to provide stable and continuousdividends to our shareholders while taking into consideration the strengthening of ourmanagement structure and future business development of the Group as a whole.
Based on the revised business forecasts announced today, and taking into consideration theCompany's financial position, dividend payout ratio, and other factors, we have decided torevise its annual dividend forecast for the current fiscal year to 16 yen per share, an increaseof 3 yen from the previous forecast of 13 yen per share. Although the future of economic
trends remains extremely uncertain, our policy is to give due consideration to the return ofprofits to our shareholders, while taking into account the status of our earning capacity,
financial soundness, dividend payout ratio, and other factors.

*The above forecasts are based on information available as of the date of announcement of
this document. Actual results may differ from the forecasts due to various factors.