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

To our shareholders:

Securities code: 9037
May 30, 2022
Hidenori Osuka
Representative Director and President
HAMAKYOREX CO., LTD.
1701-1 Terawaki-cho, Minami-ku, Hamamatsu-shi,
Shizuoka

Notice of the 51st Annual General Meeting of Shareholders
We would like to express our appreciation for your continued support and patronage.
We hereby notify that the 51st Annual General Meeting of Shareholders of HAMAKYOREX CO., LTD. (the“Company”) will be held as indicated below.
With respect to this General Meeting of Shareholders, you may exercise your voting rights in writing or by theInternet, etc. Please review the attached Reference Documents for General Meeting of Shareholders, and exercise
your voting rights in accordance with “Instructions for Exercise of Voting Rights” (Japanese Only).
1. Date and Time: Tuesday, June 14, 2022, 10:30 a.m.
2. Venue:“Ootori” Hall, 2F, Grand Hotel Hamamatsu
1-3-1 Higashiiba, Naka-ku, Hamamatsu-shi, Shizuoka
3. Purpose of the Meeting
Matters to be reported:
1 The Business Report and the Consolidated Financial Statements for the 51st fiscal year (from April 1, 2021
to March 31, 2022), and the results of audits of the Consolidated Financial Statements by the Financial
Auditor and the Audit & Supervisory Board
2 The Non-Consolidated Financial Statements for the 51st fiscal year (from April 1, 2021 to March 31,
2022)
Matters to be resolved:
Proposal No. 1
Partial Amendments to the Articles of Incorporation
Proposal No. 2
Election of Ten (10) Directors
Proposal No. 3
Election of One (1) Audit & Supervisory Board Member
Proposal No. 4
Revision to Remuneration of Outside Directors
4. Matters Determined Relating to Convocation
Prior notice before exercising your vote right diversely
Shareholders are respectfully requested to notify the Company in writing of any diverse exercising of voting
rights and the reason therefore not later than three days before the general meeting of shareholders.

-1-1. If attending in person, please submit the enclosed voting form at the meeting reception desk.
2. Of the documents attached to this Notice of the Annual General Meeting of Shareholders, the following
materials have been made available for viewing online on our website in accordance with the relevant laws andregulations, and the stipulations of the Company’s Articles of Incorporation.
(1) Company system and policy(2) Consolidated Statement of Changes in Equity(3) Notes to Consolidated Financial Statements(4) Statement of Changes in Equity(5) Notes to Financial Statements
3. The Consolidated and Non-Consolidated Financial Statements prepared by Audit & Supervisory Board
Member and Financial Auditor include materials contained in attachments provided with this Notice of theAnnual General Meeting of Shareholders, and notes to Consolidated Financial Statements and notes toFinancial Statements published on the Company’s website.
4. Note that if there are any modifications in the Reference Documents for General Meeting of Shareholders,Business Report, the Consolidated Financial Statements, or the Non-Consolidated Financial Statements, they
will be posted on our website (https://www.hamakyorex.co.jp/).
[Notice] Gathering of shareholders
A gathering of shareholders and Company officers will be held following the General Meeting of Shareholders at
the “Ootori” Hall on the second floor. Strict COVID-19 prevention measures will be in place. Please take thisopportunity to attend and provide any feedback or questions to us.
In addition, this gathering may be canceled depending upon the situation of COVID-19 cases. In case ofcancellation, notification will be made on our website.

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Reference Documents for General Meeting of Shareholders
Proposal and Reference Information
Proposal No. 1
Partial Amendments to the Articles of Incorporation
1. Reasons for the Amendments
Since the revised provisions provided for in the proviso to Article 1 of the Supplementary Provisions of the Act
Partially Amending the Companies Act (Act No. 70 of 2019) are to be enforced on September 1, 2022, theCompany proposes to make the following amendments to its Articles of Incorporation in preparation for the
introduction of the system for providing Reference Documents for General Meeting of Shareholders inelectronic format.
(1) Since the provisions for Internet Disclosure and Deemed Provision of Reference Documents for the
General Meeting of Shareholders, Etc. (Article 15 of the current Articles of Incorporation) will no longer
be required, they will be amended into the regulations on measures to provide electronic information(proposed amendment to Article 15).
(2) The proposed amendment to Article 15, paragraph 1 stipulates those measures to provide electronic
information that forms the content of Reference Documents for the General Meeting of Shareholders, etc.
shall be taken, and the proposed amendment of Article 15, paragraph 2 provides provisions to limit thescope of the matters described in the paper-based documents to be delivered to shareholders whorequested the delivery of paper-based documents.
(3) Accompanying the aforementioned amendments of provisions, supplementary provisions regarding theeffective date, etc. will be established.
2. Details of amendments(Underlined text represents amendments)
Proposed Amendments(Measures, etc. for Providing Information in Electronic Format)

Current Articles of Incorporation(Internet Disclosure and Deemed Provision of Reference
Documents for the General Meeting of Shareholders, Etc.)
Article 15
Article 15
When the Company convenes a general meeting of
1. When the Company convenes a general meeting ofshareholders, if it discloses information that is to be stated or
shareholders, it shall take measures for providing
presented in the reference documents for the general meeting of
information that constitutes the content of reference
shareholders, business report, financial statements anddocuments for the general meeting of shareholders, etc. inconsolidated financial statements through the internet inelectronic format.
accordance with the provisions prescribed by the Ministry ofJustice Order, it may be deemed that the Company has
provided this information to shareholders.
2. Among items for which the measures for providing
information in electronic format will be taken, theCompany may exclude all or some of those items
designated by the Ministry of Justice Order fromstatements in the paper-based documents to be delivered
to shareholders who requested the delivery of paper-based
documents by the record date of voting rights.
(New)
Supplementary Provisions
Article 1
1. The amendment to the Articles of Incorporation pertaining
to Article 15 shall be effective from September 1, 2022,
which is the date of enforcement of the revised provisions
set forth in the proviso to Article 1 of the Supplementary
Provisions of the Act Partially Amending the Companies
Act (Act No. 70 of 2019) (hereinafter referred to as the“Date of Enforcement”).
2. Notwithstanding the provision of the preceding paragraph,
Article 15 of the pre-amended Articles of Incorporation
shall remain effective regarding any general meeting ofshareholders held on a date within six months from theDate of Enforcement.

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Current Articles of Incorporation
3.

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Proposed Amendments
These Supplementary Provisions shall be deleted on thedate when six months have elapsed from the Date of
Enforcement or three months have elapsed from the dateof the general meeting of shareholders in the preceding
paragraph, whichever is later.

Proposal No. 2
Election of Ten (10) Directors
The terms of office of all ten Directors will expire at the conclusion of this annual general meeting of shareholders.
Therefore, the Company proposes the election of ten Directors.
The candidates for Director are as follows:
Candidate
No.

Name(Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company
Feb. 1971

1

2

Number of theCompany’s shares
owned

Representative Director and President of theCompany
June 1984
Representative Director and President of
Hamakyo Service K.K. (current position)
Masataka Osuka
Apr. 2003
Director and Chairman of Superex Corporation(March 3, 1941)(current position)
Attendance at Board of
July 2005
Chairman of Shizuoka Trucking Association
500,000 shares
Directors meetings
June 2007
Representative Director and Chairman of the
17/17
Company (current position)(100%)
June 2012
Deputy Chairman of Japan Trucking
Association
Nov. 2013
Chairman of The Hamamatsu Chamber ofCommerce and Industry(Reasons for nomination as a candidate for Director)
As the founder of the Company involved with its long-term management, Mr. Masataka Osuka has established asignificant level of experience and achievements. As the current Representative Director and Chairman, he provides
accurate advice on every facet of business operation based on experience. The Company proposes the election of him
based on his suitable fulfillment of his role as supervisor concerning the resolution of important matters, theadministration of business matters, and other such matters.
Apr. 1992
Joined the Company
Apr. 2001
Deputy General Manager of Sales Department
1 of the Company
May 2003
General Manager of Chubu Sales Departmentof the Company
June 2003
Director and General Manager of Chubu Sales
Department of the Company
Apr. 2006
Director and General Manager of Head OfficeHidenori Osuka
Sales Department of the Company(July 17, 1967)
June 2007
Director and Vice President of KINBUTSUREX Co., Ltd.
Attendance at Board of
498,900 shares
June 2008
Director, Vice President, General Manager of
Directors meetings
Administration Division, and General Manager
17/17
of Corporate Planning Office of the Company(100%)
June 2009
Director of Superex Corporation (current
position)Jan. 2010
Representative Director and President of theCompany (current position)
Aug. 2010
Director and Chairman of KINBUTSU REX
Co., Ltd. (current position)
May 2021
Deputy Chairman of Shizuoka Trucking
Association (current position)(Reasons for nomination as a candidate for Director)
As manager of the Company, Mr. Hidenori Osuka possesses a broad range of experience and considerable insight into
the various divisions making up the Company. The Company proposes the election of him so that the Company may
benefit from his leadership as a member of management, and for his contributions to improving corporate value andbolstering the supervisory functions of the Board of Directors.

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Candidate
No.

Name
(Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company
July 1999
Apr. 2010

3

4

Number of theCompany’s shares
ownedJoined the Company
Deputy General Manager of Chubu Sales
Department 3 of the Company
Apr. 2011
General Manager of Chubu Sales Department 3of the Company
Apr. 2012
Executive Officer and Deputy General Manager
of Sales Division of the Company
Yasuo Okutsu
Apr. 2014
Executive Officer and Branch Manager of(January 21, 1972)
Chubu Branch of the Company
Aug. 2014
Managing Executive Officer and Branch
Attendance at Board of
1,500 shares
Manager of Chubu Branch of the Company
Directors meetings
June 2016
Director, Managing Executive Officer, and
16/17
Branch Manager of Chubu Branch of the(94%)
Company
Apr. 2017
Director, Managing Executive Officer, Deputy
General Manager of Headquarters, and BranchManager of Chubu Branch of the Company
June 2020
Managing Director, Deputy General Manager
of Headquarters, and Branch Manager of
Chubu Branch of the Company (current
position)(Reasons for nomination as a candidate for Director)
The Company proposes the election of Mr. Yasuo Okutsu so that the Group may benefit from his contributions toimproving corporate value based on his ample experience in the operations of the logistics center (3PL) of theCompany.
Mar. 2004
Joined the Company
Apr. 2012Manager of Domestic Sales Development
Department, Development Division of theCompany
Apr. 2013
General Manager of Sales Development
Department of the Company
June 2014
Executive Officer and General Manager ofTsuyoshi Yamaoka
Development Headquarters of the Company(April 12, 1976)
Apr. 2017
Executive Officer and General Manager ofAttendance at Board of
1,100 shares
Development Division of the Company
Directors meetings
June 2018
Director, Executive Officer, and General
17/17Manager of Development Division of the(100%)
Company
Apr. 2019
Director, Executive Officer, and General
Manager of the New Sales Management
Department of the Company
June 2021
Managing Director, Executive Officer, andGeneral Manager of Development Division of
the Company (current position)(Reasons for nomination as a candidate for Director)
The Company proposes the election of Mr. Tsuyoshi Yamaoka so that the Group may benefit from his contributions toimproving corporate value based on his ample experience in substantially increasing new clients in the operations of thelogistics center (3PL) of the Company.

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Candidate
No.

Name
(Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company
Oct. 2003
Apr. 2008

Akio Ariga(June 8, 1964)

5

Attendance at Board of
Directors meetings
15/17
(88%)

Apr. 2010
Apr. 2012
Apr. 2014
Aug. 2014
June 2015

6

Joined the Company
Deputy General Manager of Kanto Sales
Department 3 of the Company
Executive Officer and General Manager ofKanto Sales Department 2 of the Company
Executive Officer and Deputy General Manager
of Sales Division of the Company
Executive Officer and Branch Manager ofKanto Branch of the Company
Managing Executive Officer and BranchManager of Kanto Branch of the Company
Director, Managing Executive Officer, andBranch Manager of Kanto Branch of theCompany (current position)

Number of theCompany’s shares
owned

2,800 shares(Reasons for nomination as a candidate for Director)
The Company proposes the election of Mr. Akio Ariga so that the Group may benefit from his contributions toimproving corporate value based on his ample experience in the operations of the logistics center (3PL) of theCompany.
Dec. 1999
Joined the Company
Apr. 2010
Deputy General Manager of Kansai Sales
Department of the Company
Apr. 2011
General Manager of Kansai Sales Departmentof the Company
Apr. 2012
Executive Officer and General Manager ofKiichi Nasuda
Kansai Sales Department of the Company(April 6, 1970)
Apr. 2014
Executive Officer and Branch Manager ofAttendance at Board of
3,100 shares
Kansai Branch of the Company
Directors meetings
Apr. 2016
Managing Executive Officer and Branch
17/17Manager of Kansai Branch of the Company(100%)
June 2016
Director, Managing Executive Officer, andBranch Manager of Kansai Branch of theCompany
Apr. 2019
Director, Executive Officer, and BranchManager of Kansai Branch of the Company(current position)(Reasons for nomination as a candidate for Director)
The Company proposes the election of Mr. Kiichi Nasuda so that the Group may benefit from his contributions toimproving corporate value based on his ample experience in the operations of the logistics center (3PL) of theCompany.

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Candidate
No.

Name
(Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company
Apr. 1965

7

8

Number of theCompany’s shares
ownedJoined Suzuki Motor Co., Ltd. (currently
Suzuki Motor Corporation)
Apr. 2010
Chairman of Hamamatsu Foundation for[Outside]International Communication and Exchange
Isamu Miyagawa
Apr. 2010
Advisor of Suzuki Motor Corporation(July 22, 1942)
Nov. 2010
Deputy Chairman of The Hamamatsu Chamberof Commerce and Industry
300 shares
Attendance at Board ofApr. 2013
Councilor of TOKOHA University Education
Directors meetings
Foundation (current position)
17/17
Nov.
2013
Adviser of The Hamamatsu Chamber of(100%)
Commerce and Industry
June 2016
Outside Director of the Company (current
position)(Reasons for appointment as a candidate for outside Director and summary of expected roles)
Mr. Isamu Miyagawa has ample experience and achievements in corporate management, etc. and considerable
knowledge in finance and accounting. The Company proposes his appointment as a candidate for outside Director withthe expectation that he will contribute to improving corporate value of the Group through making use of such insights toprovide advice and proposals on Directors’ execution of duties. If his appointment is approved, the Company plans tohave him, as a member of the nomination and compensation committee, be involved in deliberating the compensationfor officers, etc. of the Company from an objective and neutral standpoint.
Apr. 1975
Joined The Shizuoka Bank, Ltd.
June 2003
Executive Officer and General Manager of theHamamatsu Branch of The Shizuoka Bank, Ltd.
[Outside]
Apr. 2007
Senior Executive Officer and Head of Western
Yoshitaka Otsu
Area Business Unit of The Shizuoka Bank, Ltd.
(December 11, 1952)
Mar. 2010Retired from The Shizuoka Bank, Ltd.
300 shares
July 2016
Outside Audit & Supervisory Board Member
Attendance at Board of(Part-time) of SEIKO CORPORATION
Directors meetings(current position)
17/17
Oct. 2016
Outside Audit & Supervisory Board Member(100%)(Part-time) of TOKAI DENPUN CO., LTD.
June 2018
Outside Director of the Company (current
position)(Reasons for appointment as a candidate for outside Director and summary of expected roles)
Mr. Yoshitaka Otsu has ample experience and achievements in corporate management, etc. and broad knowledge. The
Company proposes his appointment as a candidate for outside Director with the expectation that he will contribute toimproving corporate value of the Group through making use of such insights to provide advice and proposals on
Directors’ execution of duties.
Mr. Yoshitaka Otsu was originally employed by The Shizuoka Bank, Ltd., which has transactional dealings with theCompany, but the Company has no problems with funding and its financial position is such that it would be more thanpossible to procure funds from other banks. In addition, more than 10 years have elapsed since Mr. Yoshitaka Otsu
resigned from The Shizuoka Bank, Ltd. in March 2010, and he is fully capable of maintaining his independence.
If his appointment is approved, the Company plans to have him, as a member of the nomination and compensationcommittee, be involved in deliberating the compensation for officers, etc. of the Company from an objective and neutral
standpoint.

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Candidate
No.

Name
(Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company

Entered Hamamatsu Shinkin Bank
Executive Director of The Hamamatsu
Chamber of Commerce and Industry
Nov. 2012Managing Director of The Hamamatsu
Chamber of Commerce and Industry
600 shares
Attendance at Board ofJune 2016
Outside Audit & Supervisory Board Member of
Directors meetings
the Company
17/17
June 2020
Outside Director of the Company (current(100%)
9
position)(Reasons for appointment as a candidate for outside Director and summary of expected roles)
Mr. Takeshi Mori has ample experience and achievements in corporate management, etc. and considerable knowledge
in finance and accounting, and he also has detailed knowledge of the operations of the Company through his auditing
work. The Company proposes his appointment as a candidate for outside Director with the expectation that he willcontribute to improving corporate value of the Group through making use of such insights to provide advice andproposals on Directors’ execution of duties. If his appointment is approved, the Company plans to have him, as amember of the nomination and compensation committee, be involved in deliberating the compensation for officers, etc.
of the Company from an objective and neutral standpoint.
Oct. 2003
Joined NICS TAXATION CO.,LTD[Outside]
June 2006
Joined Tohmatsu Tax Co. (currently, Deloitte
Sumiko Katada
Tohmatsu Tax Co.)(April 14, 1979)
0 sharesAug. 2006
Registered as a licensed tax accountant
Jan. 2014
Resigned from Deloitte Tohmatsu Tax Co.
[New election]
Feb. 2014
Established Katada Accounting Office(Reasons for appointment as a candidate for outside Director and summary of expected roles)
Although Ms. Sumiko Katada has no prior experience of involvement in corporate management, she has deep insight10
based on advanced specialized knowledge and a wealth of practical experience as a licensed tax accountant. The
Company proposes her appointment as a candidate for outside Director with the expectation that she will contribute toimproving corporate value of the Group through making use of such insights to provide advice and proposals on
Directors’ execution of duties.
Furthermore, while Ms. Sumiko Katada was previously employed by Deloitte Tohmatsu Tax Co., which has
transactional dealings with the Company, the value of these transactions is negligible, it is not a major business partner,
and Ms. Sumiko Katada is fully capable of maintaining her independence. If her appointment is approved, the Company
plans for her to serve as a member of the nomination and compensation committee, and be involved in deliberating thecompensation for officers, etc. of the Company from an objective and neutral standpoint.
(Notes) 1. There is no special interest between any of the above candidates and the Company.
2. Mr. Isamu Miyagawa, Mr. Yoshitaka Otsu, Mr. Takeshi Mori and Ms. Sumiko Katada are candidates for outside Director.
3. Mr. Isamu Miyagawa is currently an outside Director of the Company, and at the conclusion of this meeting, his tenure
as outside Director will have been six years.
4. Mr. Yoshitaka Otsu is currently an outside Director of the Company, and at the conclusion of this meeting, his tenure as
outside Director will have been four years.
5. Mr. Takeshi Mori is currently an outside Director of the Company, and at the conclusion of this meeting, his tenure as
outside Director will have been two years.
6. Pursuant to the provisions of Article 427, paragraph 1 of the Companies Act, the Company has entered into anagreement with Mr. Isamu Miyagawa, Mr. Yoshitaka Otsu, and Mr. Takeshi Mori to limit their liability for damages
under Article 423, paragraph 1 of the Companies Act. The maximum amount of liability for damages under thisagreement is the minimum liability amount stipulated in Article 425 paragraph 1 of the Companies Act, and theCompany plans to renew this agreement with them. If the election of Ms. Sumiko Katada is approved, the Company
plans to enter into the same limited liability agreement with her.
7. The Company has submitted notification to the Tokyo Stock Exchange that Mr. Isamu Miyagawa, Mr. Yoshitaka Otsu,
and Mr. Takeshi Mori have been designated as independent officers as provided for by the aforementioned exchange. If
their reelection is approved, the Company plans for their appointment as independent officers to continue. In addition, if
Ms. Sumiko Katada, a candidate for Director, is elected as an outside Director, she will be reported as an independent
officer.
[Outside]
Takeshi Mori
(August 19, 1950)

Apr. 1973
July 2012

Number of theCompany’s shares
owned

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Proposal No. 3

Election of One (1) Audit & Supervisory Board Member

The term of office of Audit & Supervisory Board Member Mr. Toshiaki Sugiyama will expire at the conclusion ofthis annual general meeting of shareholders. Therefore, the Company proposes the election of one Audit &Supervisory Board Member to strengthen and enhance the audit system.
In addition, the consent of the Audit & Supervisory Board has been obtained for this proposal.
The candidate for Audit & Supervisory Board Member is as follows:
Name(Date of birth)

Career summary, position and responsibility in the Company, and significant
concurrent positions outside the Company
Apr. 1966
Nov. 1994

Number of theCompany’s shares
ownedJoined The Shizuoka Bank, Ltd.
General Manager of Komatsu Branch of The Shizuoka
Bank, Ltd.
June 2001
Director & Senior Executive Officer of The Shizuoka Bank,
Toshiaki Sugiyama
Ltd.
700 shares(November 14, 1947)
June 2007
Director of The Shizuoka Bank, Ltd. (part-time)
June 2012Retired as Director of The Shizuoka Bank, Ltd. (part-time)
June 2014
Outside Audit & Supervisory Board Member of theCompany (current position)(Notes) 1. Candidate for Audit & Supervisory Board Member Mr. Toshiaki Sugiyama was originally employed by The Shizuoka
Bank, Ltd., which has transactional dealings with the Company, but the Company has no problems with funding and its
financial position is such that it would be more than possible to procure funds from other banks. In addition, more than
10 years have elapsed since Mr. Toshiaki Sugiyama resigned from The Shizuoka Bank, Ltd. in June 2012, and he is fully
capable of maintaining his independence.
2. Mr. Toshiaki Sugiyama is a candidate for outside Audit & Supervisory Board Member.
3. The Company proposes the election of Mr. Toshiaki Sugiyama as outside Audit & Supervisory Board Member as it
determines that he is qualified based on his considerable expertise in finance and accounting as a corporate manager, andexpect him to continue to monitor the overall management and provide effective advice. At the conclusion of thismeeting, his tenure as outside Audit & Supervisory Board Member will have been eight years.
4. Pursuant to the provisions of Article 427, paragraph 1 of the Companies Act, the Company has entered into agreementswith Mr. Toshiaki Sugiyama to limit his liability for damages under Article 423, paragraph 1 of the Companies Act. The
maximum amount of liability for damages under this agreement is the minimum liability amount stipulated in Article
425 paragraph 1 of the Companies Act. If his reelection is approved, the Company plans to renew this agreement withhim.
5. The Company has submitted notification to the Tokyo Stock Exchange that Mr. Toshiaki Sugiyama has been designatedas an independent officer as provided for by the aforementioned exchange. If his reelection is approved, the Company
plans for his appointment as an independent officer to continue.

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Proposal No. 4

Revision to Remuneration of Outside Directors

At the 44th Annual General Meeting of Shareholders held on June 17, 2015, the amount of remuneration for
Directors was approved as no more than ¥350 million per year (¥10 million per year for outside Directors, notincluding the portion of their employee salary), which remains the same today.
In order to strengthen the supervisory function of the Board of Directors, the Company submitted Proposal No. 2“Election of Ten (10) Directors” that increases the number of outside Directors by one (1), and taking into accountthe increasing number of responsibilities and expected roles of outside Directors in the future, the Company
requests that the amount of remuneration for Directors be kept within the current annual amount of ¥350 million,
and the amount for outside Directors be revised to within ¥20 million per year.
This latest amendment was submitted for deliberation to the Remuneration Committee, of which the majority ofmembers are independent officers, before being determined by the Board of Directors.
Moreover, the Company proposes that, as has hitherto been the case, the employee portion of salary received by
Directors who serve concurrently as employees shall not be included in the amount of Director compensation.
Finally, there are currently 10 Directors (including three Outside Directors), but in the event that Proposal No. 2“Election of Ten (10) Directors” is approved without modification, the number of Directors will remain at 10, butwill include four Outside Directors.

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