TRANSLATION FOR REFERENCE PURPOSE ONLYThis notice has been translated from the original Japanese text of the timely disclose statement and is forreference purpose only. In the event of any discrepancy between the original Japanese and this translation,
the Japanese text shall prevail.

January 31, 2020
To whom it may concern
Company Name: Asahi Holdings, Inc.
Representative: Tomoya Higashiura, President(Code: 5857, First Section of the Tokyo Stock Exchange)
Contact:

Kunihiko Chogo, General Manager,
Corporate Planning & Communications Department(Phone: +81-3-6270-1833)

Notice on the Revision of Financial Forecast and Revision of Dividend Forecast (Dividend Increase)

This is to notify that the Company has revised its consolidated financial forecast for the year ending March 2020 (April1, 2019 - March 31, 2020), which was announced on October 29, 2019 and the year-end dividend forecast, announced
on May 8, 2019, in view of the recent trends in its business performance, as shown in the section below.
Details
1. Revision of Financial Forecast(1) Revision of consolidated financial forecast for the year ended March 2020 (April 1, 2019 to March 31, 2020)(Unit: millions of yen, %)ProfitRevenue

Operating

Profit before

attributable

Basic earnings

incometax

to owners ofper shareparentYen SenPrevious forecast (A)135,000

19,00016,800

10,200259 22135,000

19,00016,7009,400

238 89Change (B-A)

－－

△100

△800－

Change (%)

－－

△0.6

△7.8－

128,669

14,47813,4059,000

228 14(Announced on October 29, 2019)
Revised forecast (B)(Ref.) Results for the previous FY(FY ended March 31, 2019)(2) Reasons for the revision of financial forecast
As described in the “Notice on the Impairment Loss Recorded on Fixed Assets at Consolidated Subsidiary,” which wasannounced separately today, an impairment loss of 1 billion yen has been recorded on facilities related to gold and silver
refining business in North America. As a result, profit before tax and profit attributable to owners of parent are expected
to be lower than those in the previous forecast. However, as the performance of the precious metals recycling businessand environmental preservation business remains solid, exceeding the levels in the previous forecast, operating income
remains unchanged from the previous forecast.

12. Revision of Dividend Forecast(1) Revision of dividend forecast for the year ended March 2020
Annual Dividend
End of second quarter
Previous forecast(Announced on May 8, 2019)60 yen

Revised forecast
Results for the current FY
Results for the previous FY(FY ended March 31, 2019)

End of FYTotal

60 yen120 yen

70 yen

130 yen

60 yen120 yen

60 yen60 yen(2) Reasons for the revision of dividend forecast
The Company’s basic policy is to improve corporate value by maintaining profitability and delivering sustainablegrowth, and to meet the expectations of shareholders by providing sustainable, stable dividends. The Company’s
guideline on dividend payments based on this basic policy is to target a consolidated payout ratio of 50% or more byconsidering such factors as the business results of each fiscal year, the need for enhancing the financial position, andthe management strategy of the Group.
Even after the revision of its financial forecast, the Company expects to register record-high results for operating incomeand profit before tax. Based on this judgment, the Company plans to increase its dividend payment at the end of fiscal
year by 10 yen from 60 yen in the previous forecast, and the total annual dividend of the year is planned to be 130 yen.

2