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: 5852
June 1, 2021
To our shareholders:
Arata Takahashi, President, CEO
Ahresty Corporation[Head Office and Headquarters]
1-2 Nakabara, Mitsuya-cho, Toyohashi-shi, Aichi[Tokyo Head Office]2-46-1 Honcho, Nakano-ku, TokyoNOTICE OF THE 100th GENERAL MEETING OF SHAREHOLDERS
We are pleased to announce the 100th General Meeting of Shareholders of Ahresty Corporation (the “Company”),
which will be held as described below.
Although the Company plans to have measures in place at the venue to prevent the spread of the novel coronavirus
disease (COVID-19), you are requested to refrain from attending the meeting in person, if at all possible,
prioritizing your safety and security. Please note that instead of attending the meeting on the specified date, you can
exercise your voting rights in writing (by post) or online. Please cast your vote upon reviewing the “Reference
Documents for the General Meeting of Shareholders,” provided towards the end of this document.
1. Date and Time: Wednesday, June 16, 2021 at 10:00 a.m. (Japan Standard Time)
The previous General Meeting of Shareholders was held on July 22, 2020, because additionaltime was required to settle accounts due to the spread of COVID-19.
2. Venue:
NAKANO SUNPLAZA, 13th floor, Cosmo Room
4-1-1 Nakano, Nakano-ku, Tokyo
3. Purpose of the Meeting
Matters to be reported:
1. Business Report and Consolidated Financial Statements for the 100th fiscal year (from April 1, 2020 toMarch 31, 2021) and Reports of Audit on the Consolidated Financial Statements by the Accounting
Auditor and the Audit and Supervisory Committee
2. Non-Consolidated Financial Statements for the 100th fiscal year (from April 1, 2020 to March 31, 2021)
Matters to be resolved:
Proposal No. 1
Election of Five (5) Directors (excluding Directors Serving as the Audit andSupervisory Committee Members)
Proposal No. 2
Election of Five (5) Directors Serving as the Audit and Supervisory Committee
Members- We will receive questions and opinions on the Company’s website (https://www.ahresty.co.jp/en/contact/ir_contact/). We plan topost responses to the questions and opinions we received through June 14 on the Company’s website at a later date for matters ofhigh interest to you. We ask for your understanding in the event that we are unable to respond to all of your questions and opinions.
We appreciate your questions and opinions we received as reference for our future operations.
- A video of a portion of the shareholders’ meeting on the day will be posted on the Company’s website at a later date.
- All the attendees are kindly requested to submit the enclosed voting form to our reception desk at the venue on the day of meeting.
- Of the documents that need to be submitted for the shareholders’ meeting, the Company has posted the following items from theattached documents on its website, in compliance with laws and regulations and Article 14 of Articles of Incorporation. The said
items are not provided with this notice.
(i) Business Report: “Status of Stock Acquisition Rights, etc.,” “Status of Accounting Auditor,” “System to Ensure Appropriatenessof Operations and Overview of Operation of the System,” (ii) Consolidated Financial Statements: “Consolidated Statements of
Changes in Net Assets,” “Notes to the Consolidated Financial Statements,” (iii) Non-Consolidated Financial Statements:“Statements of Changes in Net Assets” and “Notes to the Non-Consolidated Financial Statements.”

-1-

-

The documents attached to this meeting notification are part of the Business Report, Consolidated Financial Statements and NonConsolidated Financial Statements audited by the accounting auditor and the Audit and Supervisory Committee when creating anaudit report.
If there are any changes to the Reference Documents for the General Meeting of Shareholders, the Business Report, theConsolidated Financial Statements, or the Non-Consolidated Financial Statements, they will be posted on the Company’s website.
Official Website (https://www.ahresty.co.jp)-2-Reference Documents for the General Meeting of Shareholders
Proposal No. 1

Election of Five (5) Directors (excluding Directors Serving as the Audit and Supervisory
Committee Members)

The term of office of all five (5) Directors (excluding Directors Serving as the Audit and Supervisory Committee
Members) will expire at the conclusion of this General Meeting of Shareholders. Accordingly, we request theelection of five (5) Directors (excluding Directors serving as the Audit and Supervisory Committee Members). In
addition, the candidates for election as Directors (excluding Directors serving as the Audit and Supervisory
Committee Members) are determined on the basis of the report of the Nomination and Compensation Committee,
in which the majority of members are composed of outside Directors with a chairperson served by an outside
Director. The Audit and Supervisory Committee judges all candidates to be appropriate in consideration offamiliarity with the Company’s business, the high level of expertise and extensive experience each possess, andcapability to contribute to the improvement of the corporate value of the Company in the medium to long term.
The candidates for election as Directors (excluding Directors serving as the Audit and Supervisory Committee
Members) are as follows:
Candidate
No.

Name

1

Arata Takahashi

2Junji Ito3

Shinichi Takahashi

4Naoyuki Kaneta

5

Shinichi Gamou

Current position/areas of responsibility in the Company
President, CEO
Nomination and Compensation Committee Member
Representative Director, Senior Managing Executive Officer,
Chief of Manufacturing Command
Representative Director, Senior Managing Executive Officer,
General Administrative Command
Director, Senior Managing Executive Officer, Chief of Sales
CommandDirector, Managing Executive Officer, General Manager, Tokai
Plant
President, Ahresty Pretech Corporation-3-

Reelection
Reelection
Reelection
Reelection
Reelection

Candidate
No.

Name
(Date of birth)

Career summary, positions and areas of responsibility(significant concurrent positions outside the Company)
Apr. 1979
Oct. 1986

Arata Takahashi(November 2, 1955)
1

2

Reelection

June 1987
May 1994
June 1995
June 1997
Oct. 1997

Joined Ahresty Corporation
Director, Fuso Light Alloys of America
Corporation (current Ahresty Wilmington
Corporation)
Director, Ahresty Corporation
Chairman, Ahresty Wilmington Corporation
Senior Executive Director, Ahresty Corporation
Vice President, Ahresty Corporation
President, Ahresty Corporation (current
position)
Director, Kyoto Die Casting Co., Ltd.
Executive Officer, Ahresty Corporation
Senior Executive Officer, Ahresty Corporation
CEO, Ahresty Corporation (current position)

Number of theCompany’s shares
held

1,008,803

June 2001
July 2001
June 2003
June 2005(Reason for nomination as candidate for Director)
Mr. Arata Takahashi has long-standing achievements in leading the entire Group as Group’s management and abundant
knowledge in the overall business. In consideration of the above, it was judged that he is appropriate for Director.
Apr. 1978
Joined Ahresty Corporation
Apr. 2010
General Manager, Toyohashi Plant, Ahresty
Corporation
Oct. 2013
Executive Officer, Ahresty Corporation
General Manager, Advance Production
Engineering Dept., Ahresty Corporation
Junji Ito
June 2016
Managing Executive Officer, Ahresty(June 3, 1955)
47,783
Corporation
June 2017
Chief, Manufacturing Command, Ahresty
Reelection
Corporation (current position)
Director, Ahresty Corporation
June 2019
Senior Managing Executive Officer, Ahresty
Corporation (current position)
Representative Director, Ahresty Corporation(current position)(Reason for nomination as candidate for Director)
Mr. Junji Ito has proven achievements in controlling the manufacturing division of the Group as Chief of
Manufacturing Command of the Company as well as past experience and knowledge as General Manager of a plant andExecutive Officer. In consideration of the above, it was judged that he is appropriate for Director.

-4-Candidate
No.

Name
(Date of birth)

Career summary, positions and areas of responsibility(significant concurrent positions outside the Company)
Apr. 2005
Apr. 2009
Jan. 2011
Apr. 2014

Shinichi Takahashi(October 21, 1980)

June 2016
June 2017

Reelection
3
June 20194

Joined Hitachi, Ltd.
Joined Ahresty Corporation
Director, Ahresty Wilmington Corporation
General Manager, IT System Dept., Ahresty
Corporation
Executive Officer, Ahresty Corporation
Managing Executive Officer, Ahresty
Corporation
Chief, General Administrative Command,
Ahresty Corporation
Director, Ahresty Corporation
Senior Managing Executive Officer, Ahresty
Corporation (current position)
Representative Director, Ahresty Corporation(current position)

Number of theCompany’s shares
held

46,705(Reason for nomination as candidate for Director)
Mr. Shinichi Takahashi has proven achievements in controlling the general administrative division of the Group as
Chief of General Administrative Command of the Company as well as past experience in management and knowledge
as Director of an overseas subsidiary and Executive Officer. In consideration of the above, it was judged that he isappropriate for Director.
Apr. 1983
Joined Ahresty Corporation
June 2006
General Manager, Western Japan Die Casting
Sales Dept., Ahresty Corporation
Mar. 2007
Executive Officer, Ahresty Corporation
Deputy Chief, Sales Command; General
Manager, Die Casting Sales Dept., Ahresty
Naoyuki Kaneta
Corporation(April 26, 1964)
54,883
May 2008
Chief, Sales Command, Ahresty Corporation
Reelection(current position)
Apr. 2011
Managing Executive Officer, Ahresty
Corporation
June 2015
Director, Ahresty Corporation (current position)
June 2019
Senior Managing Executive Officer, Ahresty
Corporation (current position)(Reason for nomination as candidate for Director)
Mr. Naoyuki Kaneta has proven achievements in controlling the sales division of the Group as Chief of Sales Commandof the Company as well as abundant experience in sales in the past. In consideration of the above, it was judged that heis appropriate for Director.

-5-Candidate
No.

Name
(Date of birth)

Career summary, positions and areas of responsibility(significant concurrent positions outside the Company)
Oct. 1982
May 2002
Apr. 2008
Oct. 2011

Shinichi Gamou(August 18, 1955)
5

Reelection

Apr. 2013
June 2013
July 2015
Apr. 2019
Oct. 2019

Joined Sugahara Precision Industry Co., Ltd.
(current Ahresty Yamagata Corporation)
Director, General Manager of Plant, Sugahara
Precision Industry Co., Ltd.
President, Ahresty Yamagata Corporation
Executive Officer, Ahresty Corporation
Director and President, Guangzhou Ahresty
Casting Co., Ltd.
Managing Executive Officer, Ahresty
Corporation (current position)
Director, Ahresty Corporation (current position)
President, Ahresty Mexicana, S.A. de C.V.
Chairman, Ahresty Wilmington Corporation
General Manager, Tokai Plant, Ahresty
Corporation (current position)
President, Ahresty Pretech Corporation (current
position)

Number of theCompany’s shares
held

36,344(Reason for nomination as candidate for Director)
Mr. Shinichi Gamou has accumulated knowledge and extensive management experience at associates in Japan andoverseas. In consideration of the above, it was judged that he is appropriate for Director.
(Notes) 1. There are no conflicts of interest between each candidate and the Company.
2. If the election of Arata Takahashi is approved, the Company plans to continue to select him as a Nomination andCompensation Committee Member.
3. The Company has concluded a directors and officers liability insurance policy with all Directors as insured persons. In
the event this proposal is approved as proposed and the candidates assume the position of Director, each candidate shallbecome an insured person under the insurance policy. The insurance policy covers damages that may arise from theinsured’s assumption of liability incurred in the course of the performance of duties as an officer or a person at a certain
position, or upon receipt of claims pertaining to the pursuit of such liability. However, there are certain exemptions,
including the case where damage caused by an act that is committed in recognition of a violation of laws and regulations
may not be compensated. The entire premium is borne by the Company. The policy is scheduled for renewal with thesame contents at the next renewal.

-6-Proposal No. 2

Election of Five (5) Directors Serving as the Audit and Supervisory Committee Members

The term of office of all five (5) Directors serving as the Audit and Supervisory Committee Members will expire at
the conclusion of this General Meeting of Shareholders. Accordingly, we request the election of five (5) Directors
serving as the Audit and Supervisory Committee Members. In addition, the candidates for Directors serving as the
Audit and Supervisory Committee Members are determined on the basis of the report of the Nomination andCompensation Committee, in which the majority of members are composed of outside Directors with a chairperson
served by an outside Director serving as chairperson. The Audit and Supervisory Committee consents to this
proposal.
[Ahresty Corporation Independent Director Election Standards]
In addition to the standards stipulated in the Companies Act and by the Tokyo Stock Exchange, the election will beheld in accordance with the “Independent Director Election Standards” (established in October 2015) related toindependence from the Company for electing outside Directors, and efforts will be made to eliminate the risk of
conflict of interest with general shareholders.
[Broad Overview of Independent Director Election Standards]
1. The candidate should not be currently serving or in the past ten years served as an Executive Director of the
Ahresty group.
2. The candidate should not be currently serving or in the past five years served as a Director, Statutory Auditor,
Executive Officer or any other position in a major shareholder, etc. of the Company.
3. The candidate should not be a person who executes business or an employee serving any other role at any
major customer/supplier of the Ahresty Group. Major customer/supplier refers to a buyer whose trade amountaccounts for 2% or more of consolidated sales of the Ahresty Group or a supplier whose trade amount with the
Ahresty Group accounts for 2% or more of consolidated sales of the customer/supplier in the past three fiscal
years.
4. The candidate should not be a Director or any other officer, or an employee of a non-profit organization, etc.,
receiving donations of a certain amount or above from the Ahresty Group. A certain amount refers to ¥10
million or an amount that is 2% or more of the total revenue of the organization, on average over the past threefiscal years.
5. The candidate should not be an attorney at law, a certified public accountant or licensed tax accountant, or any
other consultant who has received money or other economic benefits of at least a certain amount other thanofficer remuneration from the Ahresty Group, in the past three fiscal years. A certain amount refers to ¥10
million or more annually, on average over the past three years.
6. The candidate should not be a spouse or relative, etc., within the second degree of kinship of a person who falls
under the following.
(1) Currently serving or in the past five years served as a Director, Statutory Auditor, or a significant
employee of the Company(2) Currently serving or in the past five years served as a Director of subsidiaries of the Company(3) Persons for which assuming office is restricted as provided in 2 to 5 above.

-7-

The candidates for election as Directors serving as the Audit and Supervisory Committee Members are as follows:
Candidate
Name
No.
1
Kazuyuki Sakai

Current position/areas of responsibility in the Company
Senior Advisor, Audit and Supervisory Committee Office2

Akihiko Shido

Director, Audit and Supervisory Committee Member
Nomination and Compensation Committee Member

3

Shuhei Shiozawa

Director, Audit and Supervisory Committee Member
Chairperson, Nomination and Compensation Committee

4

Akiyoshi Mori

Director, Audit and Supervisory Committee Member
Nomination and Compensation Committee Member

5

Shuichi Asakuno-8-

New election
Reelection
Outside Director
Independent
Officer
Reelection
Outside Director
Independent
Officer
Reelection
Outside Director
Independent
Officer
New election
Outside Director
Independent
OfficerCandidate
No.

Name
(Date of birth)

Career summary, positions and areas of responsibility(significant concurrent positions outside the Company)
Apr. 1984
Nov. 2006

Kazuyuki Sakai(December 11, 1960)
New election
1

2

Jul. 2014
Apr. 2018
May 2020

Joined Ahresty Corporation
General Manager, Kumagaya Plant; General
Manager, Aluminum Ingot Sales Dept., Ahresty
Corporation
General Manager, Human Resources Dept.,
Ahresty Corporation
Managing Director, Ahresty India Private
LimitedSenior Advisor, Audit and Supervisory
Committee Office, Ahresty Corporation(current position)

Number of theCompany’s shares
held

6,700

(Reason for nomination as candidate for Director)
In addition to having experience in the sales and human resources divisions of the Company, Mr. Kazuyuki Sakai
served as general manager of domestic and overseas plants, and has comprehensive familiarity with the Company’sbusiness. He has management experience and knowledge gained at overseas subsidiaries. Accordingly, the Company
has determined that he is qualified to be a Director serving as the Audit and Supervisory Committee Member.
Apr. 1968
Joined Yorozu Automobile Works (Currently
Yorozu Corporation)
June 1983
Director, Yorozu Automobile Works
June 1992
Executive Senior Managing Director, Yorozu
Corporation
June 1996
Vice President, Yorozu Corporation
June 1998
President, Yorozu Corporation
June 2001
President & CEO/COO, Yorozu Corporation
Akihiko Shido
June 2007
Statutory Auditor, Ahresty Corporation(January 30, 1943)
June 2008
Chairman (current position), Chief Executive
Officer (current position), Yorozu Corporation
29,200Reelection
June 2015
Director [Audit and Supervisory Committee
Outside Director
Member], Ahresty Corporation (current
Independent Officer
position)
June 2015
Director, Univance Corporation (outside
Director) (current position)
Mar. 2018
Director, MarkLines Co., Ltd. (outside
Director) (current position)(significant concurrent positions outside the Company)
Chairman, Yorozu Corporation, Director, Univance Corporation(outside Director), Director, MarkLines Co., Ltd. (outside
Director)
Reason for nomination as candidate for outside Director and summary of expected roles
Mr. Akihiko Shido has extensive experience and insight as a manager of a globally expanding automotive parts
corporation. Therefore, the Company expects that he will continue to utilize this knowledge to supervise and provide
advice on the execution of duties by Directors from a specialist perspective, particularly with respect to the soundnessof corporate management and corporate governance. Accordingly, the Company has determined that he is qualified to
be an outside Director serving as the Audit and Supervisory Committee Member. In addition, if Mr. Akihiko Shido iselected, he will participate from an objective and neutral standpoint in the selection of our executive candidates and thedetermination of executive compensation, etc. as a member of the Nomination and Compensation Committee.

-9-Candidate
No.

Name
(Date of birth)

Career summary, positions and areas of responsibility(significant concurrent positions outside the Company)
Nov. 1986

3

4

Number of theCompany’s shares
held

Holds a Ph.D. from the University of
Minnesota (Economics)
Apr. 1987
Associate Professor, Keio University Faculty of
Economics
Apr. 1991
Visiting Research Fellow, Paris Institute of
Political Studies (Sciences Po)
Apr. 1994
Professor, Keio University Faculty of
Economics
Jan. 2001
International Economics Manager andCouncilor, Cabinet Office (Japan)
Shuhei Shiozawa
Oct. 2005
Dean of Keio University Faculty of Economics(September 19, 1955)
Apr. 2008
Certified Public Accountant, Examiner–
Reelection
Mar. 2012
Director, Kenedix, Inc. (outside Director)
Outside Director
June 2016
Director, KYB Corporation (outside Director)
Independent Officer(current position)
June 2017
Director [Audit and Supervisory Committee
Member], Ahresty Corporation (current
position)
Apr. 2019
Professor Emeritus, Keio University
Apr. 2019
President, Tokyo International University(current position)(significant concurrent positions outside the Company)
President, Tokyo International University, Director, KYB
Corporation (outside Director)
Reason for nomination as candidate for outside Director and summary of expected roles
Mr. Shuhei Shiozawa has never in the past been directly involved in management of a company except as an outside
director. However, he is a professor of economics specializing in theoretical economics and financial theory withextensive experience and insight as a university professor of economics and president. Taking advantage of thisknowledge, he hopes that he will continue to provide supervision and advice on the execution of duties by Directors
from a specialist perspective on corporate finance and corporate management that emphasizes shareholders’ value, andtherefore the Company has determined that he is eligible as an outside Director serving as the Audit and Supervisory
Committee Member. In addition, if Mr. Shuhei Shiozawa is elected, he will participate from an objective and neutral
standpoint in the selection of our executive candidates and the determination of executive compensation, etc. as
chairperson of the Nomination and Compensation Committee.
Apr. 1978
Registered as an attorney at law (Tokyo Bar
Akiyoshi Mori
Association)(June 15, 1948)
Apr. 1978
Joined Osaki Law Office–
Apr. 2008
Mori & Kikuchi Law Office (current position)
Reelection
June 2019
Director [Audit and Supervisory Committee
Outside Director
Member], Ahresty Corporation (current
Independent Officer
position)
Reason for nomination as candidate for outside Director and summary of expected roles
Mr. Akiyoshi Mori has never in the past been directly involved in the management of a company, but he is a certified
attorney at law with extensive experience for many years and specialized knowledge concerning corporate legal affairs.
Taking advantage of this knowledge, the Company expects him to continue to provide supervision and advice on theexecution of duties by Directors from a specialist perspective, particularly in corporate legal affairs, and the Company
has determined that he is eligible as an outside Director serving as the Audit and Supervisory Committee Member. In
addition, if Mr. Akiyoshi Mori is elected, he will participate from an objective and neutral standpoint in the selection of
our executive candidates and the determination of executive compensation, etc. as a member of the Nomination andCompensation Committee.

- 10 -

Candidate
No.

Name
(Date of birth)

Career summary, positions and areas of responsibility(significant concurrent positions outside the Company)
Apr. 1988
Sept. 2001

Number of theCompany’s shares
held

Joined Nippon Light Metal Co., Ltd.
President, Amalgamated Aluminum And Alloys
Sdn. Bhd.
Apr. 2007
General Manager, Tochigi Plant, NIKKEI MCALUMINIUM CO., LTD.
June 2010
General Manager, Overseas Dept., NIKKEI MCALUMINIUM CO., LTD.
Shuichi Asakuno
June 2012
General Manager, Sales Dept., NIKKEI MC(October 31, 1964)
ALUMINIUM CO., LTD.
–
New election
Apr. 2013
Concurrently General Manager, Overseas
Candidate for outside Director
Dept., NIKKEI MC ALUMINIUM CO., LTD.
Candidate for Independent
June 2013
Operating Officer, NIKKEI MC ALUMINIUM
OfficerCO., LTD.
5
June 2016
Executive Officer, NIKKEI MC ALUMINIUM
CO., LTD.
June 2017
President, NIKKEI MC ALUMINIUM CO.,LTD. (current position)(significant concurrent positions outside the Company)
President, NIKKEI MC ALUMINIUM CO., LTD.
Reason for nomination as candidate for outside Director and summary of expected roles
Mr. Shuichi Asakuno has extensive experience and insight as a manager of a non-ferrous metal company. Therefore, theCompany expects that he will utilize this knowledge to supervise and provide advice on the execution of duties byDirectors from a specialist perspective, particularly with respect to the reasonableness and appropriateness of decision
making of the board. Accordingly, the Company has determined that he is qualified to be an outside Director serving as
the Audit and Supervisory Committee Member. In addition, if Mr. Shuichi Asakuno is elected, he will participate froman objective and neutral standpoint in the selection of our executive candidates and the determination of executive
compensation, etc. as a member of the Nomination and Compensation Committee.
(Notes) 1. There is no conflict of interest between the candidate and the Company.
2. There are no trade relations between the Ahresty Group and the companies that Akihiko Shido, Shuhei Shiozawa andAkiyoshi Mori serve as executives for.
3. As of June 24, 2021, Shuichi Asakuno is planned to retire from the position of President of NIKKEI MC ALUMINIUM
CO., LTD.
4. As of June 25, 2021, Shuichi Asakuno is planned to take the position of Director of Nippon Light Metal Holdings
Company, Ltd.
5. As of June 25, 2021, Shuichi Asakuno is planned to take the position of Director, Executive Officer of Nippon Light
Metal Company, Ltd.
6. Nippon Light Metal Co., Ltd., where Shuichi Asakuno is planned to take the position of Director and Executive Officer,
owns 657,392 shares of Ahresty Corporation stock. Additionally, the Ahresty Group has trade relations with thecompanies consolidated under Nippon Light Metal Holdings Company, Ltd. as a supplier of aluminum raw materials.
However, the total amount of the transactions accounts for less than 0.3% of the consolidated sales of Nippon Light
Metal Holdings Company, Ltd. Both the number of shares owned and transaction amount have been judged to be
insignificant in regards to any special interest.
7. Akihiko Shido, Shuhei Shiozawa, Akiyoshi Mori, and Shuichi Asakuno are candidates for outside Director.
8. The Company has submitted notification to the Tokyo Stock Exchange that Akihiko Shido, Shuhei Shiozawa andAkiyoshi Mori have been designated as independent officers as provided for by the aforementioned exchange.
9. Shuichi Asakuno satisfies the requirements for an independent officer as provided for by the Tokyo Stock Exchange, andthe Company plans to submit notification to the aforementioned exchange concerning his appointment as anindependent officer.
10. If the election of Akihiko Shido, Shuhei Shiozawa and Akiyoshi Mori is approved, the Company plans to continue toselect Shuhei Shiozawa as Chairperson of the Nomination and Compensation Committee, and Akihiko Shido andAkiyoshi Mori as Nomination and Compensation Committee Members. If the election of Kazuyuki Sakai and Shuichi
Asakuno is approved, the Company plans to continue to select them as Nomination and Compensation Committee
Members.
11. Akihiko Shido, Shuhei Shiozawa and Akiyoshi Mori are currently outside Directors of the Company. At the conclusionof this meeting, Akihiko Shido’s tenure as outside Director will have been six years, and his total tenure including
service as outside Statutory Auditor will have been fourteen years. At the conclusion of this meeting, Shuhei Shiozawa’s- 11 -

tenure as outside Director will have been four years. At the conclusion of this meeting, Akiyoshi Mori’s tenure as
outside Director will have been two years.
12. Pursuant to the provisions of Article 427, paragraph 1 of the Companies Act, the Company has entered into agreementswith Akihiko Shido, Shuhei Shiozawa, and Akiyoshi Mori to limit their liability for damages under Article 423,
paragraph 1 of the same Act. The maximum amount of liability for damages under these agreements is ¥4 million or theminimum liability amount provided for under Article 425, paragraph 1 of the Companies Act, whichever is higher. If
their reelection is approved, the Company plans to renew these agreements with them. If the election of Kazuyuki Sakaiand Shuichi Asakuno is approved, the Company plans to enter into the same limited liability agreement with them.
13. The Company has concluded a directors and officers liability insurance policy with all Directors as insured persons. In
the event this proposal is approved as proposed and the candidates assume the position of Director, each candidate shallbecome an insured person under the insurance policy. The insurance policy covers damages that may arise from theinsured’s assumption of liability incurred in the course of the performance of duties as an officer or a person at a certain
position, or upon receipt of claims pertaining to the pursuit of such liability. However, there are certain exemptions,
including the case where damage caused by an act that is committed in recognition of a violation of laws and regulations
may not be compensated. The entire premium is borne by the Company. The policy is scheduled for renewal with thesame contents at the next renewal.

- 12 -