Continuation of Measures to Respond to Large-Scale Share Purchasing Actions (Policy on Takeover Defense)

Background and Purpose of Continuing the Measures

The company introduced measures against large-scale share purchasing actions on January 15, 2008, and obtained continuation approval at the shareholders meeting on April 14, 2023, with validity until the shareholders meeting in April 2026. Given changes in social and economic conditions and trends in corporate governance, the company deemed it essential to continue these measures to ensure and enhance the collective interests of shareholders. The board of directors has the responsibility to establish an environment where shareholders can make informed decisions based on sufficient and accurate information, preparing for unforeseen circumstances.

Details and Operational Policy of the Measures

This plan aims to secure prior information provision and negotiation opportunities with large-scale purchasers, enabling shareholders to make appropriate decisions. The board has established an independent committee to ensure fair and transparent judgments. Assuming adherence to the large-scale share purchasing rules, countermeasures can be taken against actions that significantly harm the collective interests of shareholders. The plan’s validity period is within three years after shareholders meeting approval, with possible abolition or modifications as needed.