#ChangeInMajorShareholder

As of March 31, 2026, Capital Research and Management Company held 26,977,551 shares (11.55% voting rights), becoming the largest shareholder.

As of March 16, 2026, the voting rights ratio of Oasis Management Company Limited increased from 8.89% to 10.03%.

The Shigeta Education Foundation, a public interest incorporated foundation, is expected to acquire 4,500,000 shares (45,000 voting rights) as of March 24, 2026, resulting in a voting rights ratio of 10.28%.

As of March 18, 2026, due to the partial conversion of Class A preferred shares into common shares, the voting rights ownership ratio of Mitsui Chemicals, Inc. is expected to decrease from 13.45% to 9.84%, resulting in their exclusion as a major shareholder.

As of March 10, 2026, the number of shares held by Denka Company Limited decreased from 6,325,498 shares to 5,457,998 shares, resulting in a reduction of voting rights ratio from 11.48% to 9.90%.

As of February 24, 2026, the voting rights ratio of Capital Research and Management Company increased from 9.53% to 10.43%, with the number of shares held rising from 52,832,201 shares to 57,840,194 shares.

As of February 27, 2026, National Indemnity Company, a wholly owned subsidiary of Berkshire Hathaway Inc., increased its voting rights ratio in our company’s shares from 9.54% to 10.07%, becoming the largest shareholder.

As of March 31, 2026, the largest major shareholder will be transferred from Friend Stage Asset Management Co., Ltd. to the surviving company Friend Stage Co., Ltd., with a total of 41,383,714 voting rights (43.02%).

As of February 16, 2026, due to the disposal of treasury stock, the voting rights ratio of Wakita Kosan Co., Ltd., a major shareholder, changed from 10.02% to 9.98%, but there is no impact on business performance.