Subscription Share Issue

Fidelity Japanese Values PLC (“the Company”)

Subscription Share Issue

The Company announces that on 7 July 2015 it issued and allotted 6,972 ordinary 25p shares with effect from 30 June 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 114,046,746. Therefore, the total number of voting rights in the Company is also 114,046,746.

The conversion rights attaching to the remaining total of 22,698,949 subscription shares have not yet been exercised.

Natalia de Sousa                                

FIL Investments International, Company Secretary

01737 837846

7 July 2015