Calsonic Kansei : Notice regarding Amendment to the Dividend Forecast for the Fiscal Year Ending March 31, 2017 (116th Fiscal Period) (November 22,2016)

To whom it may concern:

November 22, 2016

Company Name: Calsonic Kansei Corporation Representative: Hiroshi Moriya, President and CEO

(Stock Code: 7248, First Section of the Tokyo Stock Exchange)

Inquiries: Atsuhiko Akiyama, General

Manager of Financial Strategy & Planning Group, Global Finance Division

TEL. [phone]

Notice regarding Amendment to the Dividend Forecast for the Fiscal Year Ending March 31, 2017

(116th Fiscal Period)

In connection with a tender offer (the "Tender Offer") planned to be commenced by CK Holdings Co., Ltd. (the "Offeror") in late February 2017 targeting the common stock of Calsonic Kansei Corporation (the "Company") (the "Company Shares") as mentioned in the press release "Announcement Concerning Opinion on Tender Offer by CK Holdings Co., Ltd." announced today (the "Opinion Expression Press Release"), the Company hereby announces that the Company resolved at a meeting of the board of directors held today that, since the Company plans to issue the Special Dividend as described in "1. Reason for Revision of Dividend Forecast," it has revised the dividend forecast for the fiscal year ending March 2017 and will not distribute a dividend at the end of fiscal year 2017.

1. Reason for Revision of Dividend Forecast

   The Company resolved at a meeting of the board of directors held today to, as the current opinion of the Company, express an opinion supporting the Tender Offer and to recommend that shareholders of the Company tender their shares in the Tender Offer when the Tender Offer is commenced. This resolution of the Company was adopted on the assumptions that the Offeror intends to make the Company a wholly- owned subsidiary of the Offeror after the Tender Offer and the series of procedures to be conducted thereafter and that the delisting of the Company Shares would be contemplated.

   In light of the proposal from the Offeror, in connection with the Tender Offer, the Company plans to make a distribution of surplus (the "Special Dividend") with the amount per share being approximately ¥570 (provided that the maximum amount shall be ¥570) upon setting the record date to a date prior to the commencement date of the Tender Offer (the "Tender Offer Commencement Date"). Given that the Tender Offer is planned to be commenced in late February 2017 and the Special Dividend is to be paid around the end of the fiscal year ending March 2017, the Company determined it reasonable that the Special Dividend should be issued, taking into the account the amount of the dividend for the fiscal year ending March 2017, and agreed with the Offeror that the Company will not make a distribution of dividends other than the Special Dividend, in principal. Accordingly, the Company resolved at a meeting

   of the board of directors held today that it has revised the dividend forecast regarding the fiscal year ending March 2017 and will not make a distribution of dividends at the end of the fiscal year ending March 2017.

   Since the Special Dividend is planned to be issued on the condition that the Tender Offer will be completed, if it is determined that such condition would not be satisfied, the Company will promptly determine the future dividend policy (including the policy for the dividend at end of the fiscal year ending March 2017) and announce the revision of the dividend forecast.

   For details on the expression of the opinion regarding the Tender Offer and the Special Dividend, please refer to the Opinion Expression Press Release.

2. Revision of Dividend Forecast

Amount of Dividend Over A Year (¥)
Second Quarter End	Year End	Total
Previous Forecast (as of May 12, 2016)	7.50	7.50	15.00
Revised Forecast	－	0.00	7.50（Note）
Actual Amount Paid This Fiscal Year	7.50	－	－
Actual Amount Paid Last Fiscal Year (Fiscal Year Ending March 2016)	5.00	5.00	10.00

（Note）The Company plans to issue the Special Dividend with the amount per share being approximately

¥570 (provided that the maximum amount shall be ¥570) upon setting the record date to a date prior to the Tender Offer Commencement Date. As the timing and the amount of the Special Dividend has yet to be determined, the amount of the Special Dividend has not been added to the above forecast. The Company will announce the revision of the dividend forecast after the details of the Special Dividend have been determined.

End

Note: This is an English translation of the Japanese press release disclosed to Tokyo Stock Exchange. If there is any inconsistency between the English and the Japanese releases, the Japanese-language documentation will prevail.