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.

Securities Code: 7514
November 7, 2022
To our shareholders:
Yusaku Komori
Representative, Chairman and CEO
HIMARAYA Co., Ltd.
1-1 Ezoe 1-chome, Gifu-shi, Gifu

Notice of the 47th Annual General Meeting of Shareholders
We are pleased to announce the 47th Annual General Meeting of Shareholders of HIMARAYA Co., Ltd. (the“Company”), which will be held as described below.
Instead of attending the meeting in person, you may exercise your voting rights in writing or by electromagnetic
method (via the internet, etc.). Please review the attached Reference Documents for the General Meeting of
Shareholders and exercise your voting rights no later than 6:30 p.m., Monday, November 28, 2022 (JST).

1. Date and Time: Tuesday, November 29, 2022, at 10:00 a.m. (JST) (Reception starts at 9:00 a.m.)
2. Venue:Hall, 2nd floor of Juroku Plaza
10-11 Hashimoto-cho 1-chome, Gifu-shi, Gifu
Please be advised that the meeting will be held in the same building as last year, but in a different
room on a different floor.

3. Purpose of the Meeting
Matters to be reported:
1. Business Report and Consolidated Financial Statements for the 47th term (from September 1, 2021 toAugust 31, 2022), as well as the audit results of Consolidated Financial Statements by the Financial Auditor
and the Audit and Supervisory Committee
2. Non-consolidated Financial Statements for the 47th term (from September 1, 2021 to August 31, 2022)
Matters to be resolved:
Proposal No. 1

Appropriation of Surplus

Proposal No. 2

Amendment to the Articles of Incorporation

Proposal No. 3

Election of Six Directors (Excluding Directors Who Are Audit and Supervisory
Committee Members)

Proposal No. 4

Election of One Director Who Is an Audit and Supervisory Committee Member

When attending the meeting in person, please hand in the enclosed voting form at the reception desk at the meeting venue.
Of the items required to be provided at the time of this Notice, the following have been posted on the Company’s website(https://www.hmry.jp/ (Japanese only)), and are therefore not attached herewith, in accordance with the provisions of relevant laws
and regulations and Article 16 of the Company’s Articles of Incorporation.
(i) “System to ensure the properness of operations and operational status of the system” in the Business Report(ii) “Consolidated Statement of Changes in Equity” and “Notes to Consolidated Financial Statements” in the Consolidated Financial
Statements(iii) “Non-consolidated Statement of Changes in Equity” and “Notes to Non-consolidated Financial Statements” in the Nonconsolidated Financial Statements-1-

These items are included in the Business Report, Consolidated Financial Statements and Non-consolidated Financial Statements
which have been audited by the Financial Auditor to prepare an accounting audit report and by the Audit and Supervisory Committee
to prepare an audit report.
If any changes are made to the Reference Documents for the General Meeting of Shareholders, the Business Report, the Consolidated
Financial Statements and the Non-consolidated Financial Statements, such changes will be posted on the Company’s website(https://www.hmry.jp/ (Japanese only)).

-2-

Reference Documents for the General Meeting of Shareholders
Proposal No. 1

Appropriation of Surplus

The Company considers the return of profits to shareholders as one of the most important management issues, andits basic policy on distribution of company profits is to continue the payment of stable dividends over the long term.
When calculating dividend amounts, the Company comprehensively considers operating results, the future businessenvironment, business performance trends, and other factors.
As a result, as noted in the notice about an amendment to the forecast of financial results and year-end dividend
announced on March 14, 2022, we have increased the year-end dividend for the 47th term by ¥5 from the initial
forecast of ¥10 per share to a year-end dividend of ¥15 per share (ordinary dividend: ¥13, commemorative dividend
for transfer to the Tokyo Stock Exchange Prime Market: ¥2).
Year-end dividends(1) Type of dividend property
To be paid in cash.
(2)

Allotment of dividend property to shareholders and their aggregate amountThe Company proposes to pay a dividend of ¥15 per common share of the Company.
In this event, the total dividends will be ¥183,834,060.

(3)Effective date of dividends of surplus
The effective date of dividends will be November 30, 2022.

-3-

Proposal No. 2

Amendment to the Articles of Incorporation

1. Reasons for the proposal
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) were enforced on September 1, 2022, theCompany proposes to make the following changes to its Articles of Incorporation in line with theintroduction of the system for providing informational materials for the general meeting of shareholders inelectronic format.
(i) Article 16, paragraph 1 in “Proposed Amendments” below will stipulate that the Company shall takemeasures for providing information that constitutes the content of reference documents for the general
meeting of shareholders, etc. in electronic format.
(ii) Article 16, paragraph 2 in “Proposed Amendments” below will establish the provision to limit the scopeof the items to be stated in the paper-based documents to be delivered to shareholders who requested
the delivery of paper-based documents.
(iii) Since the provisions for Internet Disclosure and Deemed Provision of Reference Documents for the
General Meeting of Shareholders, Etc. (Article 16 of the current Articles of Incorporation) will nolonger be required, they will be deleted.
(iv) Accompanying the aforementioned establishment and deletion of provisions, supplementary provisions
regarding the effective date, etc. will be established.
2. Details of the amendment
Details of the amendment are as follows:(Underlined parts are amended.)
Current Articles of Incorporation
Articles 1. - 15.

Proposed Amendments(Omitted)

Articles 1. - 15.

(Internet Disclosure and Deemed Provision of Reference
Documents for the General Meeting of Shareholders, Etc.)(Unchanged)(Deleted)

Article 16.
When the Company convenes a general meeting ofshareholders, if it discloses information that is to be statedor presented in the reference documents for the general
meeting of shareholders, business report, financial
statements and consolidated financial statements throughthe internet in accordance with the provisions prescribed by
the Ministry of Justice Order, it may be deemed that theCompany has provided this information to shareholders.

(Newly established)(Measures, Etc. for Providing Information in Electronic
Format)Article 16.
1.

When the Company convenes a general meeting ofshareholders, it shall take measures for providing
information that constitutes the content of reference
documents for the general meeting of shareholders,etc. in electronic format.

-4-Current Articles of Incorporation

Proposed Amendments
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 bedelivered to shareholders who requested the deliveryof paper-based documents by the record date of voting
rights.

Articles 17. - 39.

(Omitted)(Newly established)

Articles 17. - 39.

(Unchanged)(Supplementary Provisions)1.

Article 16 of the pre-amended Articles ofIncorporation (Internet Disclosure and Deemed
Provision of Reference Documents for the General
Meeting of Shareholders, Etc.) shall remain effective
regarding any general meeting of shareholders held ona date within six months from September 1, 2022, thedate of enforcement of the revised provisions provided
for in the proviso to Article 1 of the Supplementary
Provisions of the Act Partially Amending theCompanies Act (Act No. 70 of 2019) (hereinafterreferred to as the “Date of Enforcement”).

2.

These Supplementary Provisions shall be deleted on
the date when six months have elapsed from the Dateof Enforcement or three months have elapsed from thedate of the general meeting of shareholders in thepreceding paragraph, whichever is later.

-5-

Proposal No. 3

Election of Six Directors (Excluding Directors Who Are Audit and Supervisory
Committee Members)

At the conclusion of this meeting, the terms of office of all six Directors (excluding Directors who are Audit andSupervisory Committee Members; applicable to the rest of this proposal) will expire. Therefore, the Company
proposes the election of six Directors, including one outside Director. In addition, one candidate for outside Director
satisfies the requirements of the “criteria for judging independence” established by the Company.
The candidates for Director are as follows:
Candidate
No.

Name

Position

Responsibility

1

Yusaku Komori

Representative, Chairman and CEO

Reelection

2

Kazuki Komori

Director

General Manager of SS Life
Design Department

Reelection

3

Tatsuya Goto

Director

In charge of product strategy

Reelection

Reelection

Reelection

4

Nobuaki Mitsui

Director

General Manager of Business
Administration Division andGeneral Manager of Corporate
Planning Office

5

Yoshiyuki Kawamura

Director

In charge of financial strategy

6

Mika Imai<Reference>

Reelection
OutsideIndependent
FemaleOutside Director

Policy and procedures for nominating director candidates

The Company’s policy is to nominate persons who fulfill the following criteria as candidates for Director.
1. Possessing outstanding reputation and character with high ethical standards and maintaining high regard for regulatory compliance
2. Possessing talents, experience and practical achievements in the field of management
3. Possessing wide knowledge, a broad field of view, and in-depth insight
4. Possessing the ability to implement the Company’s management philosophy and contribute to enhancing corporate value
5. Possessing medium- to long-term outlook, and the ability to reform organizations while unbound by precedent and convention
The Representative Director recommends candidates, and the Nomination and Remuneration Advisory Committee, which consistsof five members, including three outside Directors (two of whom are independent officers), deliberates on the appropriateness of thecandidates and reports its finding to the Board of Directors. The Board of Directors determines the candidates, respecting the detailsof such report.

-6-

Candidate
No.

1

Name (Date of birth)

Career summary, and position and responsibility in the Company (Significant
concurrent positions outside the Company)

Yusaku Komori(November 6, 1948)

Apr. 1976

Number of the Company’s
shares owned
365,000 sharesNov. 2010

Representative Director and Chairman

Apr. 2021

Representative, Chairman and CEO (current position)

Founded the Company
Representative Director and President

Reasons for nomination as candidate for Director
Reelection

Having supervised the management as Representative Director since the Company’s foundation, and served in theposition of President and Chairman, Yusaku Komori has demonstrated outstanding skills as a person at the top ofmanagement. The Company has nominated him as a candidate for Director, believing that his leadership based on
his knowledge and experience will continue to be important for the enhancement of the Company’s corporate
value, for the establishment of a medium- to long-term management base and for the development of the next
generation of management.
Apr. 2008

Joined Honda Motor Co., Ltd.

Apr. 2011

Joined the Company

Aug. 2014

Deputy General Manager of Product Department No. 3

Oct. 2014

General Manager of EC Business Department

Sept. 2015

General Manager of Sales Channels Supervising Department

Nov. 2015

Director and General Manager of Sales Channels Supervising
Department

Dec. 2015

Director, General Manager of Sales Channels Supervising
Division, and General Manager of Sales Channels Supervising
Department

Kazuki Komori(November 8, 1983)

2

Number of the Company’s
shares owned
167,218 sharesFeb. 2016

Managing Director and General Manager of Sales Channels
Supervising DivisionNov. 2016

Senior Managing Director and General Manager of Sales
Channels Supervising Division

Jan. 2017

Senior Managing Director, General Manager of Sales Channels
Supervising Division, and General Manager of Sales Channels

Reelection

Supervising Department
June 2019

Senior Managing Director, General Manager of Sales Channels
Supervising Division, General Manager of Sales Channels
Supervising Department, and General Manager of Sales
Department

Aug. 2020

Senior Managing Director

Feb. 2021

Senior Managing Director and General Manager of SS Life
Design Department

Apr. 2021

Director and General Manager of SS Life Design Department(current position)

Reasons for nomination as candidate for Director
While engaging in development of new businesses to expand the Company’s business domain, Kazuki Komori has
contributed toward the enhancement of the Company’s corporate value by fostering a spirit of exploring new
possibilities inside the Company. The Company has nominated him as a candidate for Director, believing that hishuman resources training skills and management skills based on his passion and drive will continue to be important
for the Company’s medium- to long-term management plan.

-7-

Candidate
No.

Name (Date of birth)

Career summary, and position and responsibility in the Company (Significant
concurrent positions outside the Company)
Apr. 1982

Joined the Company

Mar. 2007

General Manager of Product Development Department

Dec. 2007

General Manager of Product Development Department andMember of New Business Formats Development Promotion Team

Mar. 2009

Administrative Officer of Product Division

Sept. 2009

General Manager of Product DivisionNov. 2009

Director and General Manager of Product Division

Jan. 2011

Director, General Manager of Product Division, and General
Manager of Product Department No. 2

Mar. 2011

Tatsuya Goto
(August 26, 1959)

3
Reelection

Number of the Company’s
shares owned
110,138 shares

Director, General Manager of Product Division, General Manager
of Product Department No. 2, and General Manager of ProductDevelopment Department

July 2011

Director, General Manager of Product Division, and General
Manager of Product Development Department

Nov. 2011

Managing Director, General Manager of Product Division,
General Manager of Product Development Department, andGeneral Manager of Product Management Department

Apr. 2012Managing Director, General Manager of Product Division, andGeneral Manager of Product Management Department

Aug. 2013

Managing Director and General Manager of Product Division

Sept. 2015

Managing Director, General Manager of Product Division, andGeneral Manager of Product Department No. 2

Nov. 2015

Senior Managing Director, General Manager of Product Division,and General Manager of Product Department No. 2

Oct. 2016

Senior Managing Director

Nov. 2016

Representative Director and President

Apr. 2021

Director

Nov. 2021

Director in charge of product strategy (current position)

Reasons for nomination as candidate for Director
Tatsuya Goto has provided leadership for both the Company and the Group using his wealth of operational
experience and broad insight in areas such as building good relationship with business partners. The Company has
nominated him as a candidate for Director, believing that his management skills based on his energy andexperience, particularly his constant leadership in initiatives regarding the Company’s vision, will continue to beimportant for the enhancement of the Company’s corporate value and for the development of the next generation ofmanagement.

-8-

Candidate
No.

Name (Date of birth)

Career summary, and position and responsibility in the Company (Significant
concurrent positions outside the Company)
Oct. 1999

Joined Showa Ota & Co. (currently Ernst & Young ShinNihon
LLC)

Aug. 2014

Joined A.D.Works Corporation

Apr. 2016

Accounting Director of Finance & Accounting Division

Apr. 2017

Corporate Planning Office (concurrent)

Mar. 2018

Joined Regional Economy Vitalization Corporation of Japan(REVIC)

Nobuaki Mitsui(April 25, 1970)

4

Number of the Company’s
shares owned
8,410 shares

Reelection

Apr. 2018

General Manager of Corporate Management Office of REVIC
Partners Co., Ltd. (concurrent)

Apr. 2018

General Manager of Corporate Management Office of REVICCapital Co., Ltd. (concurrent)

Oct. 2018

General Manager of Accounting Office of Regional Economy
Vitalization Corporation of Japan (REVIC)

Nov. 2020

Joined the Company
Deputy General Manager of Business Administration DivisionNov. 2020

Director and General Manager of Business Administration
DivisionMar. 2021

Director, General Manager of Business Administration Division,and General Manager of Corporate Planning Office (current
position)

Reasons for nomination as candidate for Director
Nobuaki Mitsui possesses diverse experience and in-depth insight regarding management that he has accumulated
through his career, in which he has served as the head of an accounting division and General Manager of Corporate
Management Office. He has experience in working for an audit corporation as a certified public accountant andpossesses considerable knowledge of finance and accounting. The Company has nominated him as a candidate for
Director believing that his diverse knowledge and management planning ability are essential for the enhancementof the Company’s corporate value and management base over the medium to long term.

Yoshiyuki Kawamura(August 16, 1956)

5

Number of the Company’s
shares owned
1,050 shares

Apr. 1980

Joined The Ogaki Kyoritsu Bank, Ltd.

May 2005

Deputy General Manager of Nagoya Branch

Apr. 2009

General Manager of Financial Market Department

June 2012

Director and General Manager of Financial Market Department

May 2015

Director and President of Kyoritsu Computer Service Co., Ltd.

June 2018

Director and Vice President of OKB Research Institute, Ltd.

Nov. 2018

AdvisorNov. 2018

Outside Director (Full-time Audit and Supervisory Committee
Member) of the Company

Nov. 2021

Director in charge of financial strategy (current position)

Reelection

Reasons for nomination as candidate for Director
Yoshiyuki Kawamura possesses a high level of knowledge regarding management based on his wealth ofknowledge and experience accumulated at a financial institution as well as his experience in management as acompany president. The Company has nominated him as a candidate for Director believing that his management
skills based on his knowledge and experience are essential for the establishment of the Company’s managementbase and the realization of efficient portfolio management in enhancing the Company’s corporate value over the
medium to long term.

-9-CandidateNo.

6
Reelection
OutsideIndependent
FemaleNotes:Name (Date of birth)

Career summary, and position and responsibility in the Company (Significant
concurrent positions outside the Company)
Apr. 1989

CEO/Executive Conditioning Doctor of PCSIS (primary caresis) (current position)

Mika Imai(August 17, 1963)

Apr. 1989

Part-time lecturer, Faculty of Pharmacy, Meijo University

Apr. 2016

Representative Director of MIKA Inc. (current position)

Number of the Company’s
shares owned– sharesNov. 2021

Outside Director of the Company (current position)(Significant concurrent positions outside the Company)
CEO of PCSIS (primary care sis)
Representative Director of MIKA Inc.

Reasons for nomination as candidate for outside Director and overview of expected roles
Mika Imai is an American College of Sports Medicine (ACSM) Certified Exercise Physiologist and manages acompany as a wellness consultant and sports medical conditioning trainer. The Company has nominated her as a
candidate for outside Director believing that such knowledge and international experience will be invested in the
future expansion of the Company’s business and essential for creating corporate value over the medium to longterm. The Company expects that she will provide supervision and advice, particularly in relation to the expansionof the business areas, utilizing her expert knowledge.

1. There is no special interest between any of the candidates and the Company.
2. The number of the Company’s shares owned by each candidate is that as of August 31, 2022. Moreover, the number
includes their shareholdings within the Himaraya Executives Shareholding Association.
3. Mika Imai is a candidate for outside Director.
4. Mika Imai has been an outside Director of the Company for one year.
5. Nobuaki Mitsui is qualified as a certified public accountant and a certified public tax accountant.
6. The Company has submitted notification to the Tokyo Stock Exchange and the Nagoya Stock Exchange that Mika Imai
has been designated as an independent officer (outside director) in accordance with the provisions of both exchanges.
7. Pursuant to Article 427, paragraph (1) of the Companies Act and the Company’s Articles of Incorporation, the Company
has entered into an agreement with Mika Imai to limit her liability for damages under Article 423, paragraph (1) of theCompanies Act. The maximum amount of liability for damages under this agreement is the minimum liability amountprovided for under Article 425, paragraph (1) of the Companies Act. If this proposal is approved and adopted, the Company
plans to renew the agreement.
8. Outline of the details of the directors and officers liability insurance policy.
The Company has entered into a directors and officers liability insurance policy with an insurance company as stipulated
in Article 430-3, paragraph (1) of the Companies Act. The insurance policy covers all Directors of the Company and its
subsidiaries (including Directors who are Audit and Supervisory Committee Members), and the insureds do not bear anyof the insurance premiums. This insurance policy covers the insured’s damages including losses and such costs as related
litigation expenses incurred from claims for damages arising from acts (including nonfeasance) carried out by the insured
in the course of his/her duties as an officer, etc. of the Company or its subsidiaries. However, the Company has taken
measures to ensure that the appropriateness of the execution of duties by officers, etc. is not impaired by exempting fromcompensation criminal acts such as bribery and damage caused by officers, etc. themselves in case they intentionallycommit illegal acts. If the appointment of each candidate is approved and adopted, each of them will become insured
under the policy. In addition, the Company plans to renew the policy with the same terms at the time of its renewal.

- 10 -

The Board of Directors’ Diversity (Skills Matrix)
The Company’s Board of Directors determines basic policies on management with its diverse perspectives while also
charged with the role of supervising business execution in each division. Persons with the ability to implement theCompany’s vision are selected as candidates for Directors who comprise the Board of Directors, with the aim ofachieving active discussion as well as accurate and prompt decision-making. In addition, we ensure transparency andimprovements in the functionality of the Board of Directors with at least one-third of its members being independent
outside Directors. We nominate candidates for Directors by comprehensively considering the different expertise ofeach person and the balance of knowledge, experience and ability of the Board of Directors as a whole.
Director Skills Matrix
Particularly desirable knowledge, experience and abilities
Experience
Name

as a
president

YusakuKomori

Finance andSales andDistribution

accounting

marketingindustry●

Kazuki
Komori
Tatsuya Goto●

Nobuaki
Mitsui
Yoshiyuki
Kawamura
Mika Imai●

Finance and Management International
legal

strategy and experience

industry

innovation and diversity

●

●

●

●

●

●

●

●

●

●

●

●

●

Mineo
Hayakawa
Naotaka
Tsuzuki
YoshioFuseya●●●governance
●

●

●
●
●

●

●

●

●
●

CSR and

Independence
Sustainability

●
●

●

●

●

●

●
●
●

●

●
●

and
transparency

●

●
●

●

* The above indicates the knowledge, experience and abilities that are particularly desirable in each director and is not an indicationof all of the knowledge possessed by the director.
The top five items ranked by priority of desired attributes for each director are marked with ●.

- 11 -

Proposal No. 4

Election of One Director Who Is an Audit and Supervisory Committee Member

The Company’s Audit and Supervisory Committee is operated by three Directors, the minimum number required bylaw. However, in order to further strengthen corporate governance, the Company proposes to increase the number of
Directors by one, bringing the total to four, and requests the election of one new Director who is an Audit andSupervisory Committee Member.
In addition, the consent of the Audit and Supervisory Committee has been obtained for the submission of this proposal.
The candidate for the role of Director who is an Audit and Supervisory Committee Member is as follows:

Name (Date of birth)

Career summary, and position and responsibility in the Company (Significant
concurrent positions outside the Company)
Dec. 2010

Registered as an attorney at law
Joined SAN SOGO LAW OFFICE

Yumi Suzuki(June 10, 1981)
Number of the Company’s
shares owned– sharesNewelection

Feb. 2012

Joined luce law office

Apr. 2014

Established Suzuki Law Office (current position)(Significant concurrent positions outside the Company)
Suzuki Law Office
Gifu Prefecture Defense Lawyers for Child Abuse

OutsideGifu Prefecture Comprehensive External Auditor Assistant
Independent
FemaleNotes:

Reasons for nomination as candidate for outside Director and overview of expected roles
Although Yumi Suzuki has no experience in corporate management, she is qualified as attorney at law and has
established her own law firm after having worked for a number of law firms in Tokyo. The Company has
nominated her as a candidate for outside Director believing that her knowledge and experience will be essential forovercoming various challenges and avoiding risks in the process of expanding the Company’s business andcreating medium- to long-term corporate value in the future. The Company expects that she will provide
supervision and advice, particularly in the area of business risk management and strengthening governance,
utilizing her legal expertise and experience.

1. There is no special interest between the candidate and the Company.
2. The number of the Company’s shares owned by the candidate is that as of August 31, 2022.
3. Yumi Suzuki is a new candidate for the role of outside Director who is an Audit and Supervisory Committee Member.
4. Yumi Suzuki is qualified as attorney at law.
5. If this proposal is approved, the term of office of Yumi Suzuki will be two years and will expire at the conclusion of the49th Annual General Meeting of Shareholders.
6. If this proposal is approved, the Company plans to submit notifications to the Tokyo Stock Exchange and the Nagoya
Stock Exchange that Yumi Suzuki be designated an independent officer (outside director) in accordance with theprovisions of both exchanges.
7. If this proposal is approved, the Company intends to enter into an agreement with Yumi Suzuki, pursuant to Article 427,
paragraph (1) of the Companies Act and the Company’s Articles of Incorporation to limit her liability for damages under
Article 423, paragraph (1) of the Companies Act. The maximum amount of liability for damages under this agreement
will be the minimum liability amount provided for under Article 425, paragraph (1) of the Companies Act.
8. Outline of the details of the directors and officers liability insurance policy.
The Company has entered into a directors and officers liability insurance policy with an insurance company as stipulated
in Article 430-3, paragraph (1) of the Companies Act. The insurance policy covers all Directors of the Company and its
subsidiaries (including Directors who are Audit and Supervisory Committee Members), and the insureds do not bear anyof the insurance premiums. This insurance policy covers the insured’s damages including losses and such costs as related
litigation expenses incurred from claims for damages arising from acts (including nonfeasance) carried out by the insured
in the course of his/her duties as an officer, etc. of the Company or its subsidiaries. However, the Company has taken
measures to ensure that the appropriateness of the execution of duties by officers, etc. is not impaired by exempting fromcompensation criminal acts such as bribery and damage caused by officers, etc. themselves in case they intentionallycommit illegal acts. If the appointment of Yumi Suzuki is approved and adopted in this proposal, she will newly become
an insured of this insurance policy. In addition, the Company plans to renew the policy with the same terms at the time of
its renewal.

- 12 -

<Reference>

The Company’s criteria for judging independence

The following people do not meet the Company’s independence criteria.
1. People executing business of the Company and its subsidiaries (hereinafter referred to collectively as the “Group”) or people whohave executed business of the Group in the past ten years.
2. People for whom the Group is a major business partner (i.e. people who received payments from the Company or subsidiaries of
the Company that represent 10% or more of annual consolidated net sales for the most recent fiscal year), or executives thereof.
3. People who are affiliated with an audit corporation that conducts statutory audits of the Group.
4. Consultants, accounting professionals, or legal professionals who have received money and other economic benefits averaging¥10 million or more annually within the past three years as payment from the Group for reasons other than officer’s remuneration.
5. A major lender of the Group, parent company thereof, or an executive thereof. (A “major lender” of the Group refers to a company
that is lending 10% or more of the total amount of borrowings in the most recent fiscal year.)
6. People who fell under any of 2. to 5. above within the past five years.
7. A spouse or relative within the second degree of kinship of people in 1. to 6. above.

- 13 -