(For Translation Purposes Only)
October 24, 2023
To All Concerned Parties:
Company Name:

Makuake, Inc.

Representative:

President andRyotaro Nakayama

Representative
Director
Tokyo Stock Exchange code: 4479
Contact:

Director of Investor Junghyun Kim
Relations Dept.,
Corporate Division
TEL. 03-6328-4038

Notice of Partial Amendments to Articles of Incorporation
Makuake, Inc. (“Makuake” or “the company”) hereby announces that at the meeting of the Board of Directors held
today, it resolved to submit the proposal “Partial Amendments to the Articles of Incorporation” to the 11th Ordinary
General Meeting of Shareholders scheduled for December 7, 2023.

1.

Reasons for Amendments(1) In order to enable the company to conduct its business activities in a flexible and dynamic manner and to prepare
for the expansion of its business scope and future business development, Makuake proposes to add additional
purpose items to the current Article 2 (Purpose) of the Articles of Incorporation.
(2) With the “Act for Partially Amending the Industrial Competitiveness Enhancement Act and Other Related Acts”(Act No. 70 of 2021) coming into force on June 16, 2021, it became possible for a publicly traded company to holda general meeting of shareholders without designating a location (the so-called “virtual-only general meeting ofshareholders”) through a provision in its Articles of Incorporation.
For our company as well, expanding the options for the format of future general meetings of shareholders will
make it easier for more shareholders, including those in remote locations, to attend such meetings.

This will also

serve to invigorate general meetings of shareholders, enhance their efficiency and smooth operation, and, inparticular, help reduce the risks associated with large-scale disasters, such as the spread of infectious diseases andnatural calamities.

Therefore, the company proposes adding Article 12, Paragraph 2, to the Articles ofIncorporation to enable the holding of virtual-only general meetings of shareholders.
Furthermore, Makuake has received confirmation from the Minister of Economy, Trade and Industry and the1

Minister of Justice, dated August 23, 2023, that our company is in compliance with the requirements stipulated in
the Ministry of Economy, Trade and Industry and the Ministry of Justice ordinances as specified in Article 66,
Paragraph 1 of the Industrial Competitiveness Enhancement Act (Act No. 98 of 2013).

2.

Details of Amendments
The details of the amendments are shown in the Appendix.

3.

Schedule
Ordinary General Meeting of Shareholders
to amend the Articles of Incorporation:

December 7, 2023 (scheduled)

Effective date of amendments tothe Articles of Incorporation:

December 7, 2023 (scheduled)

Appendix(Amended parts are underlined.)
Current Articles of Incorporation

Proposed Amendments(Purpose)(Purpose)

Article 2. The purpose of the company shall be to engage

Article 2. The purpose of the company shall be toin the following businesses:

engage in the following businesses:

1. to 17. (Omitted)

1. to 17. (Unchanged)(Newly established)

18. Fee-charging employment placement business(Newly established)

19. Worker dispatching undertakings(Newly established)

20. Issuance and sale of advanced payment certificates(gift cards and gift certificates)(Newly established)

21. Management, investment, purchase, sale andholding of securities(Newly established)

22. Travel operating business and travel agency business

18. All other business activities supplementary or related

23. All other business activities supplementary orto any of the preceding items

related to any of the preceding items(Convocation)(Convocation)

Article 12. An Ordinary General Meeting of Shareholders

Article 12. An Ordinary General Meeting ofof the Company shall be convened within three (3)Shareholders of the Company shall be convened withinmonths from the day following the end of each businessthree (3) months from the day following the end ofyear. An Extraordinary General Meeting of Shareholders

each business year. An Extraordinary General Meetingshall be convened whenever necessary.

of Shareholders shall be convened whenever necessary.

（Newly established）

2 A General Meeting of Shareholders of the Company
may be held without designating a location.

2