Change of Portfolio Manager

Fidelity Japanese Values PLC

Change of Portfolio Manager

London, 31 July 2015: The Board of Fidelity Japanese Values PLC announces today that after eight years in the role, Shinji Higaki will be stepping down as Portfolio Manager of the Company and will be succeeded by Nicholas Price.  Nicholas will take on full responsibility for the Company’s portfolio on 1 September 2015 following a smooth transition period.  The Board would like to thank Shinji for his diligent management of the portfolio during his time as Portfolio Manager.

Nicholas brings over 20 years’ investment experience in the Japanese equity market, having joined Fidelity’s Tokyo office in 1993 as a research analyst before becoming a portfolio manager in 1999.  He currently manages a number of Fidelity’s Japanese funds, including the Fidelity Funds – Japan Aggressive Fund which is first quartile over three and five years. Nicholas’ investment approach is focused on ‘growth at a reasonable price’, utilising Fidelity’s extensive research capability. The Board believes that his investment approach, combined with his consistent bias towards mid and small cap growth stocks, is an ideal fit for the company.

Natalia de Sousa

For and on behalf of FIL Investments International

Company Secretary

31 July 2015

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For further information, please contact:

Craig Terrington

Fidelity Worldwide Investment

020 7074 5811

[e-mail]

Press Office Address: Fidelity Worldwide Investment, 25 Cannon Street, London, EC4M 5TA

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