Canon : Notice Regarding Projected Dividend for the Fiscal Year Ending Decembe …

April 26, 2023

Canon Inc.

Chairman & CEO: Fujio Mitarai

Securities code: 7751

Tokyo (Prime Market) and other Stock Exchanges

Inquiries: Sachiho Tanino General Manager Consolidated Accounting Div. Finance & Accounting Headquarters [phone]

Notice Regarding Projected Dividend for the Fiscal Year Ending December 31, 2023

(the 123rd Business Term)

Canon Inc. (the "Company") passed a Board of Directors' resolution on April 26, 2023, regarding the projected dividend per share for the fiscal year ending December 31, 2023 (the 123rd Business Term) as follows.

1. Basic Policy Regarding Profit Distribution and Dividend for the Period

The Company's basic policy is to provide a stable and active return to shareholders, mainly in the form of dividends, taking into consideration medium-term profit forecasts along with planned future investment, cash flow and other factors.

In the first quarter of the fiscal year ending December 31, 2023 (the 123rd Business Term), the strong growth of network cameras and other new businesses drove companywide sales growth. Sales of existing businesses, such as cameras and office MFDs, also increased, backed by highly competitive products.

For profit, we also got off to a good start, posting double-digit growth, as existing businesses maintained stable profitability, and new businesses entered a phase of profit contribution. And from the second quarter as well, we will maintain this momentum, aiming to achieve our third consecutive year of sales and profit growth.

The dividend per share projection for the current fiscal year is the same as the dividend amount for the last fiscal year. However, with a targeted dividend payout ratio of 50%, we will review this accordingly, taking into consideration future performance trends and financial conditions.

2.	Details of the Projected Dividend
			Dividend per share (yen)
Record date	Interim		Year-end		Full Year
Previous projection	Not	yet	Not yet		Not yet
		determined	determined		determined
Current projection	60.00	yen	60.00 yen		120.00 yen
Actual
Previous year's dividend payout	60.00 yen	60.00 yen		120.00 yen
(Fiscal year ending December 31, 2022)

This notice contains forward-looking statements with respect to future results, performance and achievements that are subject to risk and uncertainties and reflect management's views and assumptions formed by available information. All statements other than statements of historical fact are statements that could be considered forward-looking statements. When used in this document, words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project" or "should" and similar expressions, as they relate to Canon, are intended to identify forward-looking statements. Many factors could cause the actual results, performance or achievements of Canon to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products by other companies, lack of acceptance of new products or services by Canon's targeted customers, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, both referenced and not referenced in this notice. A detailed description of these and other risk factors is included in Canon's annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. Canon does not intend or assume any obligation to update these forward-looking statements.