May 26, 2023

For Immediate Release (Translation only)

Company name: ALPS ALPINE CO., LTD.

Representative: Toshihiro Kuriyama

Representative Director, President & CEO (Code 6770, TSE Prime Market)

Inquiries to: Atsushi Suzuki, Senior Manager, Corporate Communication Department

TEL +81-(0)50-3311-0617 (IR Direct)

Announcement Regarding Paying Annual Dividends from Surplus

We hereby announce that, at the Board of Directors meeting held on May 26, 2023, the Company resolved, as follows, to pay annual dividends from surplus with a record date of March 31, 2023.

The Company plans to submit a proposal regarding this matter at the 90th Ordinary General Meeting of Shareholders of the Company scheduled to be held on June 23, 2023.

1. Details of the dividends

Latest dividend forecast

Dividend for the fiscal

Amount determined

year ended March 31,

(Announced on April 28, 2023)

2022

Record date

March 31, 2023

Same as on the left

March 31, 2022

Dividend per share

¥20.00

Same as on the left

¥10.00

Total dividend

¥4,109,589,000

-

¥2,072,053,740

amount

Effective date

June 26, 2023

-

June 24, 2022

Source of dividend

Retained earnings

-

Retained earnings

2. Reasons

The Company decides profit distribution based on the consolidated performance and taking into account the balance among (i) returning profits to shareholders, (ii) research and development and capital investment for future business expansion and improvements in competitiveness, and (iii) retained earnings, and adopts shareholder return initiatives such as acquisition of own shares according to the available surplus capital and financial capability as a basic policy on shareholder returns.

Furthermore, during the period of 2nd Mid-Term Business Plan from fiscal 2022 to 2024, the Company aims for a total return ratio of 35% (average) cumulatively for the three-year period, with emphasis on stable dividend payout linked to performance, by consistently paying dividend equivalent to a single-year return ratio of 25% or ¥20 per share, whichever is higher.

Based on the above policy and the targets in the 2nd Mid-Term Business Plan period, the Company plans to pay a dividend of ¥20 per share for the year-end dividend for the fiscal year ended March 31, 2023, comprehensively taking into consideration performance trends, financial conditions and other factors. As a result, the total annual dividend for the fiscal year ended March 31, 2023 will be ¥40 per share.

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(Reference)

Dividend per share

Record date

Interim dividend

Year-end dividend

Annual dividend

Dividend for the fiscal

year ended March 31,

¥20.00

¥20.00

¥40.00

2023

Dividend for the fiscal

year ended March 31,

¥10.00

¥10.00

¥20.00

2022

3. Shareholder returns for the fiscal year ending March 31, 2024

The dividend forecast for the fiscal year ending March 31, 2024 is ¥40 per share, including an interim dividend forecast of ¥20 per share, based on the Company's efforts to steadily execute its initial plan and implement a new role system that can respond flexibly to changes during the period, initiatives that place top priority on profitability in the Module and System segment, and other factors.

The Company will strive to achieve shareholder returns based on the basic policy on shareholder returns and the targets in the 2nd Mid-Term Business Plan.

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Alps Electric Co. Ltd. published this content on 26 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2023 09:00:24 UTC.