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: 6235
March 5, 2021
To our shareholders:Ihei Hayashi
Representative Director and President
Optorun Co., Ltd.
Registered head office:10-1, Takeno, Kawagoe-shi, Saitama
Tokyo office (headquarters):
11th Floor, Metropolitan Plaza Building,
1-11-1, Nishi-Ikebukuro, Toshima-ku, Tokyo

Notice of the 22nd Annual General Meeting of Shareholders
We hereby announce that the 22nd Annual General Meeting of Shareholders of Optorun Co., Ltd. (the “Company”),
which will be held as indicated below. As a measure to prevent infection with the novel coronavirus disease (COVID19), we have made arrangements to hold the meeting at an on-site venue this time, and at the same time, as a hybrid
participatory virtual general meeting of shareholders via the Internet, so that shareholders can watch the meeting.
The Company will implement thorough infection control measures and place the highest priority on preventing any
unforeseen infection of shareholders. Accordingly, we have decided to limit the number of shareholders who canenter the venue to 15, and we kindly request that you view the presentation online via the Internet if at all possible.
In such cases, you may exercise your voting rights by any of the methods described below.
If you are unable to attend the meeting due to the limited number of attendees at the venue, you may also exercise
your voting rights either by proxy using the form provided at the venue or by one of the following methods.
[Exercising your voting rights in writing]
Please indicate your approval or disapproval of the proposals in the enclosed voting form, and then return the form
to the Company by postal mail so that your vote is received by 5:30 p.m. on Tuesday, March 23, 2021 (JST).
[Exercising voting rights via the Internet, etc.]
Please review the “Guide to Exercising Voting Rights via the Internet, etc.” (available in Japanese only) on this notice,and enter your approval or disapproval of the proposals by 5:30 p.m. Tuesday, March 23, 2021 (JST).
[Gifts for Shareholders]
Please be aware that there will be no gifts for shareholders who attend the meeting.
1. Date and Time: Wednesday, March 24, 2021, at 10:00 a.m. (JST)(Reception is scheduled to open at 9:00 a.m.)
2. Venue:
Marigold Room, 3rd Floor, Kawagoe Prince Hotel
1-22, Shintomi-cho, Kawagoe-shi, Saitama
3. Purpose of the Meeting
Matters to be reported:
1. The Business Report and the Consolidated Financial Statements for the 22nd fiscal year (from January 1,
2020 to December 31, 2020), and the results of audits of the Consolidated Financial Statements by the
Financial Auditor and the Board of Auditors
2. The Non-consolidated Financial Statements for the 22nd fiscal year (January 1, 2020 to December 31, 2020)
Matters to be resolved:
Proposal No. 1
Appropriation of Surplus
Proposal No. 2
Election of Six Directors
Proposal No. 3
Election of Three Corporate Auditors

If you attend the meeting, we ask for your cooperation in taking measures to prevent infection, such as wearing a face mask, disinfecting,
maintaining social distancing, and refraining from conversation. Also, please submit the enclosed voting form to the venue reception
when attending the meeting.
Among the documents to be provided with this notice, the items below are published online at the Company website (URL:
http://www.optorun.co.jp/en/) pursuant to laws and regulations, as well as Article 16 of the Company’s Articles of Incorporation.
(i) Notes to Consolidated Financial Statements(ii) Notes to Non-consolidated Financial Statements
These items are included in the Consolidated Financial Statements, and Non-consolidated Financial Statements audited by the Financial
Auditor or the Corporate Auditors in preparing their respective Audit Reports.
Please note that any revisions made to the Reference Documents for the General Meeting of Shareholders, Business Report, and Nonconsolidated and Consolidated Financial Statements are published online at the aforementioned Company website.

Guide to the 22nd Annual General Meeting of Shareholders
In order to prevent the spread of the novel coronavirus disease (COVID-19), the Company will implement thefollowing measures regarding the holding and operation of this meeting. With respect to this meeting, as preventing
infection of our shareholders is a top priority, we strongly recommend that you refrain from attending the meetingon site if at all possible, and exercise your voting rights in advance by mail or via the internet.
1.

Limitation on the number of on-site attendees on the day of the meeting (in-advance registration required)
We will limit the number of shareholders who can attend the Annual General Meeting of Shareholders on site
to 15.
Please note that in-advance application is required for those who wish to attend the meeting in person.
Shareholders who apply will be contacted by the Company. Please note that if the number of applicants exceeds
15, we will not be able to accept your on-site attendance. If you plan to attend the meeting on site, please do soonly after the Company contacts you to confirm that you are able to attend the meeting.
* Application period: Monday, March 15, 2021, 9:00 a.m. - Friday, March 19, 2021, 5:30 p.m. (JST)* Application method
Application addresssoukai-info@optorun.co.jp
Email subject (shareholder number is indicated Application for on-site attendance – ●●●●
on the voting form)(shareholder number)
Email body
Name (full name) and contact information
If you do not have an email address, please contact us at +81-3-6635-9487. (The application deadline willbe the same as when you apply by e-mail.)* Please note that in-advance applications will be closed when the maximum number of participants (15) isreached.
If you enter the meeting venue, please be sure to take measures to prevent infection, such as wearing a facemask, disinfecting, maintaining social distance, limiting conversations.
* Please note that we will not be able to accept entrance to the meeting venue for shareholders who have notapplied in advance.

2. Guide to the hybrid participatory virtual General Meeting of Shareholders
The Company will introduce a “hybrid participatory virtual General Meeting of Shareholders” (hereinafterreferred to as “the virtual General Meeting of Shareholders”), to allow shareholders to participate to the meetingfrom remote locations via the internet, etc., without traveling to the meeting venue.
We strongly recommend that you attend the virtual General Meeting of Shareholders, and if you wish to do so,please confirm the following items.
[1] What is the virtual General Meeting of Shareholders?
(1) This is an option for shareholders who will not attend the meeting on site to watch the meeting via a live
video streamed on the “Shareholders Website” using their shareholder ID and password.
(2) While you will not be able to exercise your voting rights, ask questions or make proposals under theCompanies Act through the virtual General Meeting of Shareholders, you will be able to send your questions
while watching the live video. Please note that while we will try to answer primarily the most asked questions,
we cannot guarantee that we will be able to answer all of your questions.
(3) We will also not be able to respond to questions sent by means described above if they fall under the following
categories:(i)
Questions that are not relevant to the purpose of the General Meeting of Shareholders(ii)
Questions that violate personal privacy or are defamatory(iii)
Questions of unclear purpose(iv)
Questions that do not comply with “[2], (3)” below.
(v)
Other questions that are in conflict with laws and regulations or that are consideredinappropriate

[2] Participation procedure(1) Shareholders who wish to participate to the meeting through the virtual General Meeting of Shareholders
should enter their ID (shareholder number) and password as described at “[4]” below on the “Shareholders
Website” described at “[5]” below.
(2) Shareholders participating to the virtual General Meeting of Shareholders do not count as attending themeeting as defined in the Companies Act.
Therefore, since you will not be able to exercise your voting rights on the day of the meeting in the virtual
General Meeting of Shareholders, please exercise your voting rights in writing or via the internet by 5:30
p.m. on Tuesday, March 23, 2021 (JST).
(3) Please limit each question to 300 characters.
(4) Please ask your questions in Japanese only.
(5) Proposals cannot be submitted with questions.
(6) Please note that while we will try to answer primarily the most asked questions, we cannot guarantee that wewill be able to answer all of your questions.
[3] Others(1) Please note that video and audio may be distorted or temporarily interrupted due to system failure or poor
communication environment.
(2) Any and all expenses for communication equipment, internet connection fees, and communication costs
required for participation to the virtual General Meeting of Shareholders will be borne by the shareholders.
(3) Please note that the Company will not be responsible for any damage suffered by shareholders due to poor
communication environment or system failures.
(4) Only shareholders who are registered in the Company’s register of shareholders (as of December 31, 2020)are eligible to participate to the virtual General Meeting of Shareholders. Please refrain from participating if
you are not a said shareholder of the Company.
(5) Please be aware that although we are making every effort to ensure that you are able to participate to thevirtual General Meeting of Shareholders, you may not be able to participate due to unforeseen circumstancessuch as deterioration of the communication environment or system failure, and that the meeting may becancelled depending on the circumstances.
[4] ID and password
ID

Password

Shareholder number (the 9-digit half-width-character number shown on the voting form)*
Please be sure to have your shareholder number handy before you mail in yourvoting form.
Postal code (the 7-digit half-width-character number of the postal code of the shareholder’sregistered address as of December 31, 2020)(For overseas shareholders, the 7-digit half-width-character number of the postal code of
the registered address of the standing proxy or domestic mailing address (domestic mailingaddress will be prioritized in the case that both are applicable) as of December 31, 2020)[5] Shareholders Website
Address
https://6235.ksoukai.jp■For inquiries about watching the live video
Phone number: +81-3-4463-4587
Date and time for inquiries: Tuesday, March 23, 2021, from 9:00 a.m. to 9 p.m. (JST), and Wednesday, March 24,
2021, from 9:00 a.m. (JST) to the end of the General Meeting of Shareholders

3. Operation on the day of the meeting We will limit the number of shareholders who can attend the Annual General Meeting of Shareholders onsite to 15.
 We will ask all shareholders who attend the meeting on site to wear face masks. Please note that we will not
be able to accept entrance to the meeting venue if you do not wear a face mask.
 Alcohol disinfectant will be available at the entrance of the venue.
 On the day of the meeting, we will measure your body temperature upon entry to the venue, and if you havea fever of 37.5 degrees Celsius or higher, you will not be allowed to enter. Even if your body temperature is
below 37.5 degrees Celsius, we may refuse admission if you show symptoms such as coughing.
 During the Q&A session, the Company employees will sanitize the wireless microphone each time it is used.
 The air conditioning will be set to take in about 30 percent of the outside air.
 As a general rule, we will wear face masks when answering your questions inside the hotel.
 Please note that acrylic panels will be placed in front of the podium and between each of the executives’seats.
 We will sanitize the answering table after the completion of each statement.
 The proceedings of the General Meeting of Shareholders will be conducted in as short a time as possible toensure smooth progress.

Reference Documents for the General Meeting of Shareholders

Proposal No. 1

Appropriation of Surplus

The Company considers the return of profit to shareholders a top priority of management and operates under thebasic policy to pay stable dividends while giving full consideration to matters including future business development.
Accordingly, the Company proposes to pay year-end dividends for the 22nd fiscal year as follows:
1.

Year-end dividends(1) Type of dividend property
To be paid in cash.
(2) Allotment of dividend property and their aggregate amountThe Company proposes to pay a dividend of ¥50 per common share of the Company.
In this event, the total dividends will be ¥2,148,552,650.
(3) Effective date of dividends of surplus
The effective date of dividends will be March 25, 2021.

Proposal No. 2

Election of Six Directors

The terms of office of all six Directors will expire at the conclusion of this meeting. Therefore, the Company proposes
the election of six Directors.
The candidates for Director are as follows:
Candidate
No.

Name(Date of birth)

1

Ihei Hayashi(February 27, 1957)

Career summary, and position and responsibility in the
Company(Significant concurrent positions outside the Company)
Feb. 1981
Joined Shanghai Semiconductor Device
Laboratory
Apr. 1993
Joined Tokyo Electronic Metallurgy Laboratory(current TDY Inc.)
Aug. 2000
Joined the Company
May 2001
Executive Officer and General Manager of
Production 5 Technology Division and General
Manager of Production Department
June 2001
Director
Nov. 2003
Managing Director, Senior Executive Officer,
General Manager of Production andTechnology Department, and General Manager
of Component Preparation Office
Mar. 2006
Director
Apr. 2006
Director and Senior Executive Officer
May 2006
President of OPTORUN (SHANGHAI) CO.,LTD.
Apr. 2013
Vice Chairman of OPTORUN (SHANGHAI)
CO., LTD.
Oct. 2013
Chairman of OPTORUN TAIWAN CO., LTD.
(current position)
Mar. 2014
Representative Director and President/CEO of
the Company
Aug. 2016
President of OPTORUN (SHANGHAI)
TRADING CO., LTD. (current position)
Apr. 2017
Representative Director and President/CEO,and General Manager of Production
Management Department of the Company
Sept. 2018
Representative Director and President/CEO(current position)
Mar. 2019
Chairman of OPTORUN (SHANGHAI) CO.,LTD. (current position)

Number of theCompany’s shares
owned

728,000 shares

Candidate
No.

Name
(Date of birth)2

Bin Fan(November 21, 1972)3

Mitsuo Yamada(December 29, 1966)[Newly appointed]

Career summary, and position and responsibility in the
Number of theCompany
Company’s shares(Significant concurrent positions outside the Company)
owned
Sept. 1994
Joined Shanghai Institute of Technical Physics,
Chinese Academy of SciencesFeb. 2000
Joined the Company
Apr. 2008
General Manager of Technical Development
Department
Apr. 2013
Executive Officer and General Manager ofTechnical Development Department
Mar. 2014
Director, Executive Officer and General
Manager of Technical Development
Department
Aug. 2014
Director and CEO of Optorun USA, INC.
(current position)
Mar. 2017Managing Executive Officer and General
386,000 shares
Manager of Technical Development
Department of the Company
Aug. 2017
Chairman of Shochi Optronics Co., Ltd.
(current position)
Sept. 2018
Managing Executive Officer and General
Manager of Technical Development Division
Mar. 2019
Director, Senior Managing Executive Officer
and General Manager of TechnicalDevelopment Division (current position)
Mar. 2019
Director of OPTORUN TAIWAN CO., LTD.
(current position)
Dec. 2020
Director of Afly solution Oy (current position)
Certificates: Doctor of Engineering
Apr. 1990
Joined The Bank of Tokyo, Ltd. (current
MUFG Bank, Ltd.)
Jan. 2011
Deputy General Manager of Business
Development Group, Asia & Oceania Planning
Department, The Bank of Tokyo-Mitsubishi
UFJ, Ltd. (current MUFG Bank, Ltd.)
June 2013
Seconded to VietinBank (Hanoi) in Vietnam,
Co-Director of the Finance Planning Division
July 2015
Seconded to Mitsubishi UFJ Securities
Holdings Co., Ltd., General Manager of Human
Resources Division and General Manager of
Global Human Resources Office
May 2017
Deputy General Manager of Global Financial
Crimes Division of The Bank of TokyoMitsubishi UFJ, Ltd. (current MUFG Bank,
Ltd.)
Mar. 2020
Seconded to the Company
June 2020
General Manager in charge of Management
Department of the company
Jan. 2021
Executive Officer of the Company (current
position)
Certificates: MBA, U.S. Certified Management Accountant

Candidate
No.

Name
(Date of birth)

4

Min Rin(December 7, 1961)

5

Takeshi Higuchi(July 3, 1943)

Career summary, and position and responsibility in the
Number of theCompany
Company’s shares(Significant concurrent positions outside the Company)
owned
Apr. 1984
Deputy Director of Zhejiang Crystal Factory
Apr. 1993
President of Taizhou Wote Electronics Co., Ltd.
Apr. 1997
Vice President of Zhejiang Crystal Electronics
Group Co., Ltd.
Aug. 2002
Chairman of Zhejiang Crystal-Optech Co., Ltd.
(current position)
Mar. 2018
Outside Director of the Company (current
position)(Significant concurrent positions outside the Company)
Chairman of Zhejiang Crystal-Optech Co., Ltd.
Apr. 1967
Joined Fuji Photo Optical Co., Ltd. (current
Fujifilm Corporation)
June 1998
Managing Director of Fuji Photo Optical Co.,Ltd
June 2000
President and Representative Director of Fuji
Photo Optical Co., Ltd.
Dec. 2005
Executive Officer and General Manager of
Optical Device Division of Fuji Photo FilmCo., Ltd.
Nov. 2008
Director, Senior Vice President, and General
Manager of Optical Device Division of Fujifilm
Corporation
June 2010
Director of Fujifilm Holdings Corporation
June 2010
Director and Senior Vice President of Fujifilm
Corporation
June 2015
Outside Director of The Musashino Bank, Ltd.
(current position)
Mar. 2016
Outside Director of the Company (current
position)(Significant concurrent positions outside the Company)
Outside Director of The Musashino Bank, Ltd.

Career summary, and position and responsibility in the
Number of theCompany
Company’s shares(Significant concurrent positions outside the Company)
owned
Apr. 1996
Joined the National Space Development
Agency of Japan (current Japan Aerospace
Exploration Agency (JAXA))
Sept. 2001
Authorized as an astronaut to board theInternational Space Station
Apr. 2010
Served as a mission specialist on the Space
Shuttle Discovery, and engaged the mission ofassembling the International Space Station(STS-131 (19A))
Aug. 2011
Resigned from JAXA
Sept. 2011
Honorary Chairman of the Japan Abacus
Education Association (current position)
Apr. 2012
Visiting Professor of Ritsumeikan University(current position)
July 2012
Member of the Committee on National Space
Policy under the Cabinet Office (current
position)
May 2013
Visiting Professor of Joshibi University of Art
and Design (current position)
July 2015
Director of the Japanese Rocket Society and
Chairman of the “Sorajo” Board (current
Naoko Yamazaki
position)(December 27, 1970)
Dec. 2015
Member of the Executive Committee and theAdvisory Board for the International Robot
Competition (current position)
Mar. 2016
Outside Director of Nabtesco Corporation
Apr. 2016
Specially Appointed Associated Professor,
Graduate School of Advanced Integrated
Studies in Human Survivability of Kyoto
University
Sept. 2017
Outside Director of the Company (current
position)
June 2018
Outside Director of Topcon Corporation(current position)
July 2018
Representative Director of Space Port Japan
Association (current position)
June 2020
Outside Director of FANUC CORPORATION(current position)(Significant concurrent positions outside the Company)
Member of the Committee on National Space Policy under the
Cabinet OfficeOutside Director of Topcon Corporation
Outside Director of FANUC CORPORATION
1. The number of the Company’s shares held is the number of shares as of February 16, 2021.
2 There is no special interest between any of the candidates and the Company.
3. Min Rin, Takeshi Higuchi, and Naoko Yamazaki are candidates for outside Director.
4. Matters regarding candidates for Director (excluding outside Directors)
Reasons for nomination as candidate for Director
Ihei Hayashi has led all facets of business at the Company as Representative Director and President/CEO , and he has
driven the growth of business at the Company. The Company nominates Ihei Hayashi as a candidate for Director of theCompany so that his extensive experience, performance and knowledge related to corporate management may contributeto the management of the Company.
Bin Fan has led the technical development of the whole Company as Director, Senior Managing Executive Officer, andGeneral Manager of Technical Development Division. The Company nominates Bin Fan as a candidate for Director of theCompany so that his extensive experience and performance may contribute to the management of the Company.
Mitsuo Yamada has many years of experience in key positions in the administrative departments, etc. of financial
institutions. In addition, he has led the corporate management of the Company as Executive Officer. The Company

CandidateNo.

6

Notes:

Name(Date of birth)nominates Mitsuo Yamada as a candidate for Director of the Company so that his extensive experience, performance,high-level of expertise in finance and accounting as well as his knowledge related to corporate management may contributeto the management of the Company.
5. Matters regarding candidates for outside Director
Reasons for nomination as candidate for outside Director
Min Rin is Chairman of the Board of Zhejiang Crystal-Optech Co., Ltd., which is a shareholder of the Company, and hepossesses extensive experience and a high-level of knowledge in corporate management. The Company nominates Min
Rin as a candidate for outside Director of the Company so that it can utilize his precise advice related to the managementof the Company. Min Rin is currently outside Director of the Company, and at the conclusion of this meeting, his tenure
as outside Director will have been three years.
Takeshi Higuchi possesses extensive experience and a high-level of knowledge related to global corporate management.
The Company nominates Takeshi Higuchi as a candidate for outside Director of the Company so that it can utilize his
precise advice related to the management of the Company. Takeshi Higuchi is currently outside Director of the Company,
and at the conclusion of this meeting, his tenure as outside Director will have been five years.
Naoko Yamazaki has no experience of being directly involved in corporate management other than as an outside director,
but she possesses experience as an astronaut and broad knowledge and insight into aerospace engineering. The Company
nominates Naoko Yamazaki as a candidate for outside Director of the Company so that it can utilize her perspectives on
astronautics and corporate management in the corporate management of the Company. Naoko Yamazaki is currently
outside Director of the Company, and at the conclusion of this meeting, her tenure as outside Director will have been three
years and six months.
6. Pursuant to the provisions of Article 427, paragraph (1) of the Companies Act, the Company has entered into agreementswith Min Rin, Takeshi Higuchi and Naoko Yamazaki to limit their liability for damages under Article 423, paragraph (1)of the Companies Act to the minimum liability amount provided for by Article 425, paragraph (1) of the same Act. If thereelection of Min Rin, Takeshi Higuchi and Naoko Yamazaki are approved, the Company plans to renew the
aforementioned agreements with them.
7. The Company has submitted notification to Tokyo Stock Exchange that Takeshi Higuchi and Naoko Yamazaki have been
appointed as independent officers as provided for by the aforementioned exchange. If the reelection of Takeshi Higuchi
and Naoko Yamazaki is approved, the Company plans for their appointment as independent officers to continue.
8. The Company has entered into a liability insurance contract with an insurance company for officers, etc., as stipulated in
Article 430-3, paragraph (1) of the Companies Act. The insurance contract covers all or part of the damages borne by the
insured, and is scheduled to be renewed in fiscal 2021.
[Summary](Insured under the relevant insurance contract) Directors; (Percentage of insurance premiums paid by the
insured) None; (Summary of the insured event to be covered) If any shareholder, investor, or other third
party raises a claim for damages due to an act performed in relation to his/her duties as an officer.

Proposal No. 3

Election of Three Corporate Auditors

The terms of office of all three Corporate Auditors will expire at the conclusion of this meeting. Therefore, theCompany proposes the election of three Corporate Auditors. Additionally, this proposal has been approved by the
Board of Auditors.
The candidates for Corporate Auditor are as follows:
Candidate
No.

Career summary and position in the Company(Significant concurrent positions outside the Company)
May 1990
Feb. 1998
Feb. 2001
Mar. 2015

1

2

3

Notes:

Name(Date of birth)

1.
2.
3.

4.

Number of theCompany’s shares
ownedJoined Mode Variée KK
Joined Riders Publicity, Inc.
Shinichi Kobayashi
Joined the Company(August 1, 1953)
Full-time Corporate Auditor of the Company(current position)
Oct. 1991
Joined Tohmatsu & Co. (current Deloitte
Touche Tohmatsu LLC)
Mar. 1995
Registered as a Certified Public Accountant
Hironobu Sasada
June 2006
Partner of Deloitte Touche Tohmatsu LLC(August 28, 1967)
Nov. 2020
Representative of Hironobu Sasada Certified
Public Accountant Office (current position)[Newly appointed](Significant concurrent positions outside the Company)
Representative of Hironobu Sasada Certified Public Accountant
OfficeCertificates: Certified Public Accountant
Oct. 2000
Registered as an attorney
Oct. 2000
Joined Kenichiro Kayaba Law Office
Apr. 2005
Delegate of Tokyo Bar Association
Apr. 2005
Delegate of Japan Federation of Bar
Associations
Nov. 2011
Director of Japan Society for Tobacco Control
June 2014
Outside Director of Universal Entertainment
Corporation
Apr. 2017
Delegate of the Tokyo Bar Association
Apr. 2017
Delegate of the Japan Federation of Bar
Ritsu Katayama
Associations(June 22, 1972)
Aug. 2017
Member of the Tobacco Task Force of theTokyo Medical Association (current position)[Newly appointed]
May 2018
Partner of Wealth Management Law Office(current position)
Nov. 2018
Corporate Auditor of Wealth Management Co.,
Ltd. (current position)
Dec. 2018
Representative Director of Fujiyama Fund, Co.,
Ltd. (current position)(Significant concurrent positions outside the Company)
Partner of Wealth Management Law Office
Representative Director of Fujiyama Fund, Co., Ltd.
Corporate Auditor of Wealth Management Co., Ltd.
Certificates: Attorney
There is no special interest between any of the candidates and the Company.
Ritsu Katayama and Hironobu Sasada are candidates for outside Corporate Auditor.
Matters regarding candidate for Corporate Auditor (excluding outside Corporate Auditors)
Reasons for nomination as candidate for Corporate Auditor
Shinichi Kobayashi has a track record of supporting the Company from the field of general affairs as Manager of General
Affairs Division of Management Department of the Company, and has an understanding of the Company’s business anda high level of expertise in corporate management. The Company nominates Shinichi Kobayashi as a candidate for
Corporate Auditor of the Company so that he will be able to audit the management of the Company.
Matters regarding candidates for outside Corporate Auditor
Reasons for nomination as candidate for outside Corporate Auditor

Hironobu Sasada has no experience of being directly involved in corporate management other than as an outside director,
but he possesses extensive experience and a high level of knowledge in accounting and financial affairs as a certified
public accountant. The Company nominates Hironobu Sasada as a candidate for outside Corporate Auditor of theCompany so that he will be able to audit the management of the Company.
Ritsu Katayama possesses extensive experience and a high level of knowledge in the legal field as an attorney. The
Company nominates Ritsu Katayama as a candidate for outside Corporate Auditor of the Company so that he will be able
to audit the management of the Company.
5. If the election of Ritsu Katayama and Hironobu Sasada is approved, pursuant to the provisions of Article 427, paragraph(1) of the Companies Act, the Company plans to enter into agreements with Ritsu Katayama and Hironobu Sasada to limit
their liability for damages under Article 423, paragraph (1) of the Companies Act to the minimum liability amountprovided for by Article 425, paragraph (1) of the same Act.
6. If the election of Ritsu Katayama and Hironobu Sasada is approved, the Company plans to submit notifications to Tokyo
Stock Exchange stating that Ritsu Katayama and Hironobu Sasada have been appointed as independent officers asprovided for by the aforementioned exchange.
7. The Company has entered into a liability insurance contract with an insurance company for directors and officers, etc., as
stipulated in Article 430-3, Paragraph (1) of the Companies Act. The insurance contract covers all or part of the damages
borne by the insured, and is scheduled to be renewed in fiscal 2021.
[Summary](Insured under the relevant insurance contract) Corporate Auditors; (Percentage of insurance premiums paidby the insured) None; (Summary of the insured event to be covered) If any shareholder, investor, or otherthird party raises a claim for damages due to an act performed in relation to his/her duties as an officer.