Subscription Shares Issue

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