Fidelity Japanese Values PLC ("the Company")

    Subscription Share Issue

    The Company announces that on 5 January 2016 it issued and allotted 806
    ordinary 25p shares with effect from 31 December 2015 in respect of shares
    arising on the exercise of the conversion rights attaching to subscription
    shares.

    The total issued ordinary share capital is now 114,218,356. Therefore, the
    total number of voting rights in the Company is also 114,218,356.

    The conversion rights attaching to the remaining total of 22,527,339
    subscription shares have not yet been exercised.

    Natalia de Sousa                                  

    FIL Investments International, Company Secretary

    01737 837846

    5 January 2016