News Release 2018

Announcement of Capital Increase

August 7, 2018

The Norinchukin Bank

Announcement of Capital Increase

The Norinchukin Bank (the "Bank") hereby announces that the Bank resolved that it will seek an improvement of its capital profile in respect to future regulatory changes, by an early redemption of approximately ¥1.5 trillion existing subordinated loan and issuance of up to ¥1,217.4 billion perpetual subordinated loan as well as up to ¥562.3 billion lower-dividend rate stocks , both from and to its members on March 29, 2019.

The Bank will move forward with the necessary procedures with its members, including notification regarding allocations of the capital increase.

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