Notice Regarding Election of Director Candidates

Election of Director Candidates

For the upcoming Ordinary General Meeting of Shareholders, proposals will be submitted for the reappointment of four director candidates (excluding directors who are Audit and Supervisory Committee members), including Representative Director and President Saka Tattenori and others. Three candidates are planned for directors who are Audit and Supervisory Committee members, including Manabu Fujiwara (new appointment / outside / independent), and current members Sota Kubo and Hiromu Yugeda will remain in office for their terms. There is a possibility of appointing Masashi Umeda as a substitute Audit and Supervisory Committee candidate. The document also mentions the scheduled resignation of four directors (Naoki Kakihana, Sei Ikoma, Noriyuki Tanaka) and the resignation of Hiroshi Matsukawa.

Strengthening Independence and Governance

Sota Kubo and Hiromu Yugeda will continue to serve, and by newly appointing one independent outside director, the company aims to have three members all possessing independence as independent outside directors and to meet the requirements of Article 331, Paragraph 6 of the Companies Act. This is intended to ensure continuity of oversight functions in transactions with controlling shareholders and to strengthen protection of minority shareholders' interests.