The Board of Schroder Japan Trust plc announced a package of dividend and discount management measures following an internal review and after discussion with the Company's largest shareholders. Enhanced Dividend Policy: The Board believes that when investing in Japan, dividends will continue to play an increasingly important part of shareholder return. Several years ago, the Board highlighted the growing contribution from the dividends paid, given the focus of Japanese corporates on improving shareholder value and good corporate governance practice.

Whilst the Company has been able to grow dividends by 12.7% on an average yearly basis over the past 10 years, the Board would now like to adopt an enhanced dividend policy to pay out 4% of average net asset value in each financial year. Further details will be provided in the Annual Report. It is important to note that the enhanced dividend policy will not result in a change to the Company's investment approach and strategy.

The Company's focus will continue to be on well -managed, high-quality companies where the current share price does not yet fully reflect their potential, across the complete spectrum of Japanese companies.