#ControllingShareholder

Our related company, Taiyo Koko Co., Ltd., owns 23.65% of our voting rights. Although the representative director and a director of Taiyo Koko concurrently serve as our directors and auditor, there are no constraints on our business activities.

TM Asset Co., Ltd., a controlling shareholder other than the parent company, holds 60.64% of voting rights. Transactions with controlling shareholders are generally not conducted, and when considered, measures to protect minority shareholders will be implemented.

The National Federation of Agricultural Cooperative Associations holds 22.1% of our voting rights, with transaction amounts of product sales at 26,594 million yen and raw material purchases at 4,353 million yen.

Nakajima Tou Shoten Co., Ltd. is the largest shareholder of Kewpie Corporation, holding a 16.3% voting rights stake. Transactions between the two companies include product purchase and sales of 145 million yen, and real estate leasing of 1,099 million yen, with the independence of management secured.