Subscription Shares Issue

Fidelity Japanese Values PLC (“the Company”)

Subscription Share Issue

The Company announces that on 4 April 2016 it issued and allotted 30,979 ordinary 25p shares with effect from 31 March 2016 in respect of shares arising on the exercise of the conversion rights attaching to subscription shares.

The total issued ordinary share capital is now 113,829,355. Therefore, the total number of voting rights in the Company is also 113,829,355.

The conversion rights attaching to the remaining total of 22,496,360 subscription shares have not yet been exercised.

Natalia de Sousa                                  

FIL Investments International, Company Secretary

01737 837846

4 April 2016