Announcement of Cash Dividends for the Fiscal Year Ended March 31, 2012

This is to inform the resolution at the Board of Directors’ Meeting on May 10, 2012, that proposes payment of dividends as of the end of March 2012 to the 148th Annual Shareholders’ Meeting to be held on June 28, 2012.

1. Contents of the dividends

   	Cash dividends resolved to be distributed	Latest forecast (announced on Feb. 3, 2012)	Cash dividends for the fiscal year ended March 31, 2011
   Record dates	March 31, 2012	Same as on left	March 31, 2011
   Cash dividends per share	21.00 yen	17.00 yen	14.00 yen
   Total amount of dividends	8,327 million yen	-	5,550 million yen
   Effective date	June 29, 2012	-	June 30, 2011
   Resource of dividends	Retained earnings	-	Retained earnings

2. Reason for dividend

   Nikon’s basic policy regarding the distribution of earnings is to expand capital investment and R&D spending in business and technology development to ensure future growth, take steps to enhance competitiveness and pay a steady dividend that reflects the perspective of shareholders, while making continual adjustments to better reflect operating performance. In accordance with this policy, we have set a target for a total return ratio of 25% or more.
   Based on the policy above, Nikon decides to pay 21 yen per share, up 4 yen from the previously-forecasted 17 yen, for the year ended March 31, 2012. When added with the interim dividend paid at the end of the 2nd quarter, the annual dividend becomes 38 yen per share, up 19 yen from the year earlier, bringing the dividend payout ratio to 25.4%.

   Details of annual dividends

   	Dividend per Share
   Record Dates	Interim-end	Year-end	Annual total
   Results of this fiscal year 2012	17 yen	21 yen	38 yen
   Results of previous fiscal year 2011	5 yen	14 yen	19 yen