Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event ofany discrepancy between this translation and the Japanese original, the original shall prevail.

Securities code: 2309
November 29, 2018
To our shareholders,Kazuo Nakamura
Chairman & CEO
CMIC HOLDINGS Co., Ltd.
1-1-1 Shibaura, Minato-ku, Tokyo

Notice of the Convocation of the 34th Ordinary General Meeting of
Shareholders
You are cordially invited to attend the 34th Ordinary General Meeting of Shareholders of CMIC HOLDINGS
Co., Ltd. (the “Company”), which will be held as described below.
If you are unable to attend the meeting, you may exercise your voting rights in writing or via the internet.
Please review the attached “Reference Documents for the General Meeting of Shareholders” below to
exercise your voting rights.
1. Date and time:
2. Place:

Friday, December 14, 2018 at 10:00 a.m.
Banquet hall “JOUR” (Main building 1st floor), Happo-en
1-1-1 Shirokanedai, Minato-ku, Tokyo

3. Agenda:
Matters to be reported:
1. Report on the business report, the consolidated financial statements for the 34th fiscal year (fromOctober 1, 2017 to September 30, 2018) and the results of the audit of the consolidated financial
statements by the financial auditor and the Audit & Supervisory Board
2. Report on the non-consolidated financial statements for the 34th fiscal year (from October 1, 2017
to September 30, 2018)
Matters to be resolved:
Proposal 1: Election of Twelve (12) Directors
Proposal 2: Election of Two (2) Audit & Supervisory Board Members
4. Exercise of voting rights by proxy:
If you exercise your voting rights by proxy, you may designate one other shareholder holding voting
rights in the Company to attend the meeting. Please note, however, that it is necessary to submit adocument proving the authority of the proxy.
Any modifications to the Reference Documents for the General Meeting of Shareholders will be posted on
the Company’s website (https://www.cmicgroup.com; in Japanese only).

1Reference Documents for the General Meeting of Shareholders
Proposal 1:

Election of Twelve (12) Directors

At the conclusion of this Ordinary General Meeting of Shareholders, the terms of office of all twelve (12)Directors will expire. In that regard, the Company proposes the election of twelve (12) Directors (four (4) ofwhom are outside Directors) including one (1) new candidate for outside Director to further strengthen
corporate governance.
The candidates for Director are as follows:
Candidate
No.

Name

Current position and responsibility
in the Company
Representative Director,
Chairman and CEO

Candidate attributes
Reelection

1

Kazuo Nakamura

2

Keiko Oishi

Representative Director,
President and COO

Reelection

3

Wataru Mochizuki

Director, Senior Executive Officer
and CFO

Reelection

4

Makoto Matsukawa

Director and Senior Executive Officer

Reelection

5

Toru Fujieda

Director and Senior Executive Officer

Reelection

6

Auvaro Philippe Henri

Director and Senior Executive Officer

Reelection

7

Yoshiyuki Hano

Director, Senior Executive Officer
and CHO

Reelection

8

Akihisa Mitake

Director and Senior Executive Officer

Reelection

9

Akira Nakamura

Outside Director

Reelection

OutsideIndependent

10

Shinji Kobayashi

Outside Director

Reelection

OutsideIndependent

11

Masaru Iwasaki

Outside Director

Reelection

OutsideIndependent

12

Takeshi Karasawa–

New election

OutsideIndependent

Note:

Ms. Keiko Oishi’s name on the family register is Keiko Nakamura.

2

Candidate No.

1

Reelection
Number of the Company’s shares owned: 558,020 shares
Attendance to meetings of the Board of Directors: 12/12 (100%)[Career summary, position and responsibility in the Company]
Apr. 1969 Joined Sankyo Co., Ltd. (currently Daiichi Sankyo Co., Ltd.)Mar. 1992 Representative Director and President, the Company

Kazuo Nakamura(December 17, 1946)

Oct. 2003

Representative Director, Chairman and President CEO, the Company

Dec. 2013

Representative Director, Chairman and President CEO, the Company (change
of Japanese title only)

Apr. 2018

Representative Director, Chairman and CEO, the Company (to present)[Reasons for nomination as candidate for Director]
After working in research and development at a large pharmaceutical corporation,
Mr. Kazuo Nakamura founded the Company. He possesses outstanding abilities in
executive management, which he has used to steer the Company as a leading company.
As the Company expects him to continue to perform a decision-making and supervisoryrole in management, it again nominated him as a candidate for Director.

Candidate No.

2

Reelection
Number of the Company’s shares owned: 148,600 shares
Attendance to meetings of the Board of Directors: 11/12 (91%)[Career summary, position and responsibility in the Company]
Apr. 1982 Joined Nikkei/McGraw-Hill Inc. (currently Nikkei Business Publications, Inc.)
Oct. 1989

Keiko Oishi(January 3, 1957)(Name on the family register:
Keiko Nakamura)

Joined Genentech, Inc.

Jan. 1996

Joined the Company

July 2000

Director, the Company

Oct. 2004

Director and Vice President, the Company

Dec. 2010

Representative Director, the Company

Apr. 2011

Representative Director, Corporate Officer, in charge of International Business,
the Company

Dec. 2013

Representative Director, Executive Vice President, Division Head ofInternational Business Development Div., the Company

Oct. 2016

Representative Director, Executive Vice President, CEO of CRO Business,
Division Head of International Business Management Div., the Company

Apr. 2018

Representative Director, President and COO, Supervisory Manager of Business
Development & Marketing, the Company (to present)

Significant concurrent positions outside the Company:
Chairperson, CMIC Co., Ltd.
Representative Director and Vice President, CMIC ShiftZero K.K.
President, ARTEMIS Inc.
[Reasons for nomination as candidate for Director]
With extensive experience at international corporations, Ms. Keiko Oishi has beena member of the Company’s senior management since the Company was founded, andshe possesses outstanding abilities in executive management. During her time as Presidentof the Company, her efforts toward “globalization” and “training of personnel for
globalization” particularly stand out. As the Company expects her to continue to perform adecision-making and supervisory role in management, it again nominated her as a candidate
for Director.

3Candidate No.

3

Reelection
Number of the Company’s shares owned: 2,500 shares
Attendance to meetings of the Board of Directors: 12/12 (100%)[Career summary, position and responsibility in the Company]
Apr. 1985 Joined Nippon Oil & Fats Co., Ltd. (currently NOF CORPORATION)
Jan. 1997

Joined Allied Telesis Holdings K.K.

Aug. 2005 Joined the Company

Wataru Mochizuki

Oct. 2010

Corporate Officer, in charge of Internal Control/Information Disclosure/
Finance and Accounting, the Company

Dec. 2010

Director, the Company

Oct. 2012

Director, Corporate Officer and CFO, in charge of Internal Control/
Information Disclosure, the Company

Oct. 2013

Director, Senior Corporate Officer and CFO, in charge of Finance and Legal
Affairs Department/Internal Control/Information Disclosure, the Company

May 2015

Director, Senior Executive Officer and CFO, in charge of Internal Control/
Information Disclosure, the Company (to present)

Apr. 2018

Director, Senior Executive Officer and CFO, Supervisory Manager of
Administration and Support Unit, the Company (to present)(December 10, 1961)[Reasons for nomination as candidate for Director]
With extensive knowledge and experience in administrative departments, Mr. Wataru
Mochizuki possesses outstanding abilities in executive management. As the Company
expects him to continue to perform a decision-making and supervisory role in management,
it again nominated him as a candidate for Director.

Candidate No.

4

Reelection
Number of the Company’s shares owned: 1,800 shares
Attendance to meetings of the Board of Directors: 11/12 (91%)[Career summary, position and responsibility in the Company]
Apr. 1984 Joined Akiyama Inc. (currently SUZUKEN CO., LTD.)

Makoto Matsukawa(March 30, 1960)

Oct. 1989

Joined Baxter Limited

June 1999

Joined Starbucks Coffee Japan, Ltd.

Apr. 2007

Joined Quintiles Transnational Japan K.K. (currently IQVIA Services Japan
K.K.)

Jan. 2012

Joined the Company, Corporate Officer, in charge of Corporate Planning/IPD

Dec. 2012

Director, Corporate Officer and IPD Company President, the Company

May 2015

Senior Executive Officer, in charge of Business Development, the Company

Oct. 2016

Senior Executive Officer, in charge of Business Development, CEO of CDMO
Business, the Company

Dec. 2016

Director, the Company

Apr. 2018

Director and Senior Executive Officer, Supervisory Manager of CDMO,
Supervisory Manager of CSO, the Company

Nov. 2018 Director and Senior Executive Officer, Supervisory Manager of CDMO,
the Company (to present)
Significant concurrent positions outside the Company:
Representative Director & CEO, CMIC CMO Co., Ltd.
[Reasons for nomination as candidate for Director]
Having started up businesses in various industry sectors including not only thepharmaceutical sector, but also large-player service sector, Mr. Makoto Matsukawa
possesses management experience and plays an instrumental role in globalization andstrategic business development within the Company. As the Company expects him tocontinue to perform a decision-making and supervisory role in management, it again
nominated him as a candidate for Director.

4Candidate No.

5

Reelection
Number of the Company’s shares owned: 3,000 shares
Attendance to meetings of the Board of Directors: 12/12 (100%)[Career summary, position and responsibility in the Company]
Apr. 1984 Joined Sankyo Co., Ltd. (currently Daiichi Sankyo Co., Ltd.)
June 2004

General Manager of Clinical Development Department, Sankyo Co., Ltd.

Feb. 2016

Joined the Company, Senior Corporate Officer

Oct. 2016

President, CMIC Co., Ltd. (to present)

Director and Executive Vice President, CMIC Co., Ltd.
Dec. 2016

Director and Senior Executive Officer, the Company

Apr. 2018

Director and Senior Executive Officer, Supervisory Manager of Clinical CRO,
the Company (to present)

Toru Fujieda(November 8, 1959)

Significant concurrent positions outside the Company:
President, CMIC Co., Ltd.
[Reasons for nomination as candidate for Director]
With extensive experience in clinical development and management experience at a large
pharmaceutical corporation, Mr. Toru Fujieda plays an instrumental role in the CRO
business for the Company. As the Company expects him to continue to perform a decisionmaking and supervisory role in management, it again nominated him as a candidate for
Director.

Candidate No.

6

Reelection
Number of the Company’s shares owned: 1,500 shares
Attendance to meetings of the Board of Directors: 11/12 (91%)[Career summary, position and responsibility in the Company]
Apr. 1991 Joined Roussel Uclaf S.A.
Sept. 1995 Joined Hoechst Marion Roussel Japan Ltd.
Aug. 2004 Joined Sanofi-aventis K.K. (currently Sanofi K.K.)
Apr. 2005

Joined GlaxoSmithKline K.K.

Apr. 2012

Corporate Officer and General Manager of Business Innovation Division,
GlaxoSmithKline K.K.

Nov. 2014

Representative Director and President, Aspen Japan K.K.

July 2016

Joined the Company, Senior Executive Officer
President, OrphanPacific, Inc. (to present)

Auvaro Philippe Henri Dec. 2016
(August 24, 1964)

Apr. 2018

Director, the Company
Director and Senior Executive Officer, Supervisory Manager of Orphan Drug
Business, the Company (to present)

Significant concurrent positions outside the Company:
President, OrphanPacific, Inc.
[Reasons for nomination as candidate for Director]
With management experience at the commercial planning department and overseas
affiliates in large pharmaceutical corporations, Mr. Auvaro Philippe Henri plays an
instrumental role in globalization of the Company and the establishment of new businessmodels. As the Company expects him to continue to perform a decision-making andsupervisory role in management, it again nominated him as a candidate for Director.

5Candidate No.

7

Reelection
Number of the Company’s shares owned: 1,000 shares
Attendance to meetings of the Board of Directors: 12/12 (100%)[Career summary, position and responsibility in the Company]
Apr. 1985 Joined ICI Pharma K.K. (currently AstraZeneca K.K.)

Yoshiyuki Hano
(September 8, 1961)

Apr. 2011

Joined Quintiles Transnational Japan K.K. (currently IQVIA Services Japan
K.K.)

May 2012

Joined the Company

Oct. 2012

Corporate Officer and CHO, General Manager of Strategy Human Resources
Department, the Company

Oct. 2013

Senior Corporate Officer and CHO, in charge of Strategy Human Resources
Department, the Company

Apr. 2016

Senior Corporate Officer and CHO, in charge of Human Resources andGeneral Affairs, the Company

Dec. 2016

Director, Senior Executive Officer and CHO, in charge of Human Resourcesand General Affairs, the Company

Apr. 2018

Director, Senior Executive Officer and CHO, Supervisory Manager of
Administration and Support Unit, the Company (to present)[Reasons for nomination as candidate for Director]
Possessing extensive human-resource related experience, particularly in organizational
development at large pharmaceutical corporations, Mr. Yoshiyuki Hano plays an
instrumental role in the Company’s human-resource strategy. As the Company expects him
to continue to perform a decision-making and supervisory role in management, it again
nominated him as a candidate for Director.

Candidate No.

8

Reelection
Number of the Company’s shares owned: 25,100 shares
Attendance to meetings of the Board of Directors: 10/10 (100%)[Career summary, position and responsibility in the Company]
Apr. 1986 Joined Kotai Kasei Co., Ltd. (currently TAIHO PHARMACEUTICAL CO.,LTD.)
July 1993

Joined the Company

Apr. 2008

Director and Vice President, CMIC Korea Co., Ltd.

Nov. 2009

Corporate Officer, Division Head of Business Development Div., the Company

Feb. 2013

President, CMIC-PMS Co., Ltd.

Oct. 2014

President, CMIC Bioresearch Center Co., Ltd. (currently CMIC Pharma
Science Co., Ltd.)May 2015

Senior Corporate Officer, the Company

Oct. 2016

President, Site Support Institute Co., Ltd. (to present)

Akihisa Mitake

Dec. 2017

Director and Senior Executive Officer, the Company(October 24, 1963)

Apr. 2018

Director and Senior Executive Officer, Supervisory Manager of Healthcare,
the Company (to present)

Significant concurrent positions outside the Company:
President, Site Support Institute Co., Ltd.
[Reasons for nomination as candidate for Director]
After accumulating development experience at a pharmaceutical corporation, Mr. Akihisa
Mitake has engaged in numerous positions at the Company over many years since its initialfounding period and served in important positions at the Company’s subsidiaries since2008, contributing to the continual growth of businesses he was responsible for. As theCompany expects him to perform a decision-making and supervisory role in management
based on his extensive experience and achievements in the Company’s business, it again
nominated him as a candidate for Director.

6

Candidate No.

9

Reelection Outside Independent
Number of the Company’s shares owned: – shares
Attendance to meetings of the Board of Directors: 11/12 (91%)[Career summary, position and responsibility in the Company]
Apr. 1968 Joined The Sanwa Bank, Ltd. (currently MUFG Bank, Ltd.)
June 1994

Director, The Sanwa Bank, Ltd.

May 1997

Managing Director, The Sanwa Bank, Ltd.

June 1999

President, Sanwa Capital Finance Ltd. (currently Mitsubishi UFJ Capital Co.,Ltd.)

June 2005

Chairman and Director, Ask Planning Center, Inc.

July 2005

Chairman, CREEK & RIVER Co., Ltd.

Mar. 2011

President, Medical Principle Co., Ltd.

Dec. 2014 Outside Director, the Company (to present)

Akira Nakamura

June 2017

Chairman and Director, ASK HOLDINGS, INC. (to present)
Chairman and Director, Wealth Management, Inc. (to present)(December 24, 1944)

Significant concurrent positions outside the Company:
Chairman and Director, ASK HOLDINGS, INC.
Chairman and Director, Wealth Management, Inc.
[Reasons for nomination as candidate for outside Director]
With a long standing history of serving in corporate management, Mr. Akira Nakamura
possesses extensive experience and insight as a corporate manager. As the Company
expects him to utilize this experience and insight to continue fulfilling the role of advisingand supervising its overall management from the perspective of effectiveness andobjectivity in decision-making of the Company’s Board of Directors, it again nominatedhim as a candidate for outside Director.

Candidate No.

10

Reelection Outside Independent
Number of the Company’s shares owned: – shares
Attendance to meetings of the Board of Directors: 12/12 (100%)[Career summary, position and responsibility in the Company]
Apr. 1972 Joined ITOCHU Corporation
June 1989

Seconded to Nihon Parking Card K.K. (currently NIHON PARKINGCORPORATION)
Representative Director, Nihon Parking Card K.K.

Shinji Kobayashi

Apr. 1994

President, Nihon Parking Card K.K.

Mar. 2000

Representative Director, NIHON PARKING CORPORATION

May 2011

Chairman of the Board of Directors, NIHON PARKING CORPORATION

Oct. 2013

President and Representative Director, IPI Co., LTD. (to present)

Dec. 2015

Outside Director, the Company (to present)(July 31, 1948)
Significant concurrent positions outside the Company:
President and Representative Director, IPI Co., LTD.
[Reasons for nomination as candidate for outside Director]
After joining a large trading corporation, Mr. Shinji Kobayashi was instrumental in theestablishment of a growth platform as a corporate manager for a start-up. With thisexperience and such achievements, he possesses outstanding abilities in executive
management. As the Company expects him to continue fulfilling the role of advising andsupervising its overall management, it again nominated him as a candidate for outside
Director.

7

Candidate No.

11

Reelection Outside Independent
Number of the Company’s shares owned: – shares
Attendance to meetings of the Board of Directors: 9/12 (75%)[Career summary, position and responsibility in the Company]
Dec. 1973 Joined Department of Surgery II, The University of Tokyo Hospital
Apr. 1983

Joined Department of Surgery II, Faculty of Medicine, University of Yamanashi

Apr. 1993

Joined Hoechst Japan Co., Ltd.

Jan. 2005

Joined GlaxoSmithKline K.K.

Sept. 2011 Specially Appointed Professor, Department of Clinical Research, Faculty of
Medicine, University of Yamanashi
Sept. 2014 Specially Appointed Professor, Department of Advanced Biomedical Research,
Faculty of Medicine, University of Yamanashi (to present)
Apr. 2015

Masaru Iwasaki(May 3, 1947)

Vice President, University of Yamanashi (to present)

Dec. 2016 Outside Director, the Company (to present)
Significant concurrent positions outside the Company:
Vice President, University of Yamanashi
Program Officer, Japan Agency for Medical Research and Development
Visiting Professor, Juntendo University School of Medicine[Reasons for nomination as candidate for outside Director]
After working as a clinician in the oncology area, Mr. Masaru Iwasaki possesses experienceand achievements from serving in important positions for large pharmaceutical corporations
in areas including product strategy planning and product development. As the Company
expects him to continue fulfilling the role of advising and supervising its overallmanagement, it again nominated him as a candidate for outside Director.

Candidate No.

12

New election Outside Independent
Number of the Company’s shares owned: – shares
Attendance to meetings of the Board of Directors: –[Career summary, position and responsibility in the Company]
Apr. 1980 Joined Ministry of Health and Welfare (currently Ministry of Health, Labourand Welfare)
July 2000

Director, Public Relations Office, General Coordination Division, Minister’s
Secretariat, Ministry of Health and Welfare

July 2004

Director, National Health Insurance Division and Director, General Affairs
Division, Health Insurance Bureau, Ministry of Health, Labour and Welfare

July 2009

Deputy Director-General (in charge of Medical Insurance, Health Policy, HealthCare and Long-term Care Integration), Ministry of Health, Labour and Welfare

Sept. 2012 Director-General for Policy Planning and Evaluation (in charge of Social
Security), Ministry of Health, Labour and Welfare
July 2014

Takeshi Karasawa(August 29, 1956)

Director General, Health Insurance Bureau, Ministry of Health, Labour andWelfareJune 2016 Director-General for Regional Revitalization, Headquarters for Overcoming
Population Decline and Vitalizing Local Economy in Japan, Cabinet Secretariat
Aug. 2016 Retired from Cabinet Secretariat
Significant concurrent positions outside the Company:
Visiting Professor, Saku University[Reasons for nomination as candidate for outside Director]
Mr. Takeshi Karasawa possesses extensive achievements and highly specialized knowledgeof healthcare and nursing care related policies and the social security system in generalfrom his experience in government administration. As the Company expects him to provide
us with practical advice on the Company’s business strategy and promotion, it has newly
nominated him as a candidate for outside Director.

8Notes:1. There is no special interest between any of the candidates and the Company.
2. Mr. Akira Nakamura, Mr. Shinji Kobayashi, Mr. Masaru Iwasaki and Mr. Takeshi Karasawa are candidates foroutside Director.
3. Mr. Akira Nakamura is currently an outside Director of the Company, and at the conclusion of this meeting, his
tenure as outside Director will have been four (4) years.
4. Mr. Shinji Kobayashi is currently an outside Director of the Company, and at the conclusion of this meeting, his
tenure as outside Director will have been three (3) years.
5. Mr. Masaru Iwasaki is currently an outside Director of the Company, and at the conclusion of this meeting, his
tenure as outside Director will have been two (2) years.
6. The Company has entered into an agreement with Mr. Akira Nakamura, Mr. Shinji Kobayashi and Mr. Masaru
Iwasaki to limit their liability amount to the minimum liability amount as provided for by Article 425, paragraph
1 of the Companies Act. If their reelection is approved, the Company plans to continue said limited liability
agreement with each one of them. If the election of Mr. Takeshi Karasawa is approved, the Company plans to enter
into the same limited liability agreement with him.
7. The Company has submitted notification to the Tokyo Stock Exchange that Mr. Akira Nakamura, Mr. Shinji
Kobayashi and Mr. Masaru Iwasaki have been appointed as independent officers as provided for by the
aforementioned exchange. If their reelection is approved, the Company plans for their appointments as independent
officers to continue. If the election of Mr. Takeshi Karasawa is approved, the Company plans to submit notification
to the aforementioned exchange concerning his appointment as an independent officer.

9Proposal 2:

Election of Two (2) Audit & Supervisory Board Members

At the conclusion of this Ordinary General Meeting of Shareholders, the terms of office of Audit &Supervisory Board Members Tetsuyoshi Takamoto and Shigeru Sakai will expire. Therefore, the Company
proposes the election of two (2) Audit & Supervisory Board Members. The consent of the Audit &Supervisory Board has been obtained for this proposal.
The candidates for Audit & Supervisory Board Member are as follows:
Candidate No.

1

New election
Number of the Company’s shares owned: – shares[Career summary and position in the Company]
Apr. 1972
Joined Mitsui Pharmaceuticals, Inc.
Jan. 2001

Joined Nihon Schering K.K. (currently Bayer Yakuhin, Ltd.)

Aug. 2005

Joined the Company, General Manager in charge of the Business Promotions
Department (Tokyo)

July 2011

General Manager, Quality Management Promotion Office, ClinicalDevelopment Div. I, the Company

Oct. 2012

General Manager, Resource Management Office, CMIC Co., Ltd.

Yasuo Yoshimune

Oct. 2015

Business Planning Division, Site Support Institute Co., Ltd.

(September 27, 1948)

Aug. 2018

Business Development Division, Site Support Institute Co., Ltd. (to present)[Reasons for nomination as candidate for Audit & Supervisory Board Member]
Mr. Yasuo Yoshimune possesses extensive experience and knowledge concerning clinicaldevelopment of pharmaceutical products as well as pharmaceutical affairs and safety related
information through his business engagements related to pharmaceutical products
development at the previous companies and also CMIC Co., Ltd., a core company of theGroup, and Site Support Institute Co., Ltd. Taking such experience and knowledge into
consideration, the Company believes he is qualified as Audit & Supervisory Board Member
who can perform appropriate and fair audits of execution of Director’s duties.

Candidate No.

2

New election Outside
Number of the Company’s shares owned: – shares[Career summary and position in the Company]
Nov. 1977
Joined Showa Audit Corporation (currently Ernst & Young ShinNihon LLC)

Hidetoshi Watanabe

Aug. 1981

Registered as Certified Public Accountant

Aug. 2008

Executive Director, Ernst & Young ShinNihon LLC

Aug. 2012

Senior Managing Director, Ernst & Young ShinNihon LLC

July 2014

Executive Vice President, Ernst & Young ShinNihon LLC

July 2016

Established Hidetoshi Watanabe Certified Public Accountant Office (to present)

June 2017

Outside Director, Audit and Supervisory Committee Member, Business Brain
Showa-Ota Inc. (to present)(August 30, 1953)
Significant concurrent positions outside the Company:
Outside Director, Audit and Supervisory Committee Member, Business Brain Showa-Ota Inc.
[Reasons for nomination as candidate for outside Audit & Supervisory Board Member]
Mr. Hidetoshi Watanabe possesses achievements of a number of corporate audits and highly
specialized knowledge as a certified public accountant. Taking such experience andknowledge into consideration, the Company believes he is qualified as outside Audit &Supervisory Board Member who can perform appropriate and fair audits of execution of
Director’s duties.
Notes:

1. There is no special interest between any of the candidates and the Company.
2. Mr. Hidetoshi Watanabe is a candidate for outside Audit & Supervisory Board Member.
3. If the election of Mr. Yasuo Yoshimune and Mr. Hidetoshi Watanabe is approved, pursuant to the provisions ofArticle 427, paragraph 1 of the Companies Act, the Company plans to enter into an agreement with them to limit

10their liability for damages under Article 423, paragraph 1 of the same Act. The maximum amount of liability fordamages under this agreement is the minimum liability amount provided for by Article 425, paragraph 1 of thesame Act.

11