#MajorShareholders

FM Commercial Planning Co., Ltd. is an asset management company of an executive owning 26.35% of our voting rights, and the Company’s independence is retained.

Discloses that the voting rights ownership ratios of Belleisle Japan Inc. and SON Financial LLC are each 22.44%, confirming the Company's independence.

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.

The parent company, Toho Co., Ltd., holds a total of 54.16% voting rights. Our company belongs to the road business segment within the Toho Group. The independence of directors is also ensured.

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 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.

As of December 26, 2025, Ayala First Investment Company acquired 88,548,900 shares (voting rights ratio of 11.17%) held by the Public Investment Fund, resulting in a change of major shareholders.