Ajinomoto Co., Inc. Announces
Revision of Dividend Forecast (Increase in Dividend)
TOKYO, May 10, 2018 – Ajinomoto Co., Inc. (“Ajinomoto Co.”) announces that its Board of Directors resolved at a meeting held today to revise the forecast of annual dividends for the fiscal year ended March 31, 2018, as follows. Please note that this revision is subject to approval at Ajinomoto Co.’s 140th Annual General Meeting of Shareholders, scheduled for June 26, 2018.

1. Reason for the Dividend Forecast Revision
In its FY2017-2019 (for FY2020) Medium-Term Management Plan, Ajinomoto Co. has set forth a basic policy of paying stable and continuous dividends with a target payout ratio of 30%.

Based on the above policy and after consideration of its financial condition for the fiscal year ended March 31, 2018, Ajinomoto Co. has decided to raise its year-end dividend forecast to JPY 17 per share to facilitate shareholder returns. This amount is an increase of JPY 2 from the previous forecast of JPY 15 per share, which was announced on January 31, 2018. As a result, Ajinomoto Co. plans to pay annual dividends for the fiscal year ended March 31, 2018 of JPY 32 per share, including the interim dividend of JPY 15 per share.

2. Details of the Revision
Annual Dividends per Share
First Quarter Interim Third Quarter Year-end Total
Previous forecast
(Announced January 31, 2018)
15.00 30.00
Revision 17.00 32.00
Actual (Fiscal year ended
March 31, 2018)
Actual (Fiscal year ended
March 31, 2017)
15.00 15.00 30.00
Note: The above dividend forecast is based on Ajinomoto Co.’s estimates, assumptions and projections. A number of factors could cause actual dividends to differ from the above forecast.

About Ajinomoto Co.
Ajinomoto Co. is a global manufacturer of high-quality seasonings, processed foods, beverages, amino acids, pharmaceuticals and specialty chemicals. For many decades Ajinomoto Co. has contributed to food culture and human health through wide-ranging application of amino acid technologies. Today, the company is becoming increasingly involved with solutions for improved food resources, human health and global sustainability. Founded in 1909 and now operating in 35 countries and regions, Ajinomoto Co. had net sales of JPY 1,150.2 billion (USD 10.36 billion) in fiscal 2017. For more about Ajinomoto Co. (TYO: 2802), visit www.ajinomoto.com.

For further information, please contact:
Ajinomoto Co., Inc. Public Communications Department; pr_info@ajinomoto.com