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: 6293
June 1, 2023
To Our Shareholders:
Hozumi Yoda, President and Representative Director
NISSEI PLASTIC INDUSTRIAL CO., LTD.
2110 Minamijo, Sakaki-machi, Hanishina-gun, Naganoken

Notice of Convocation of the 67th Annual General Meeting of Shareholders
NISSEI PLASTIC INDUSTRIAL CO., LTD. (the “Company”) would like to inform you that we are holding the 67th
Annual General Meeting of Shareholders as below.
(Please refer to “Notice Regarding Countermeasures for COVID-19” on the cover page (Japanese only).)
When convening this General Meeting of Shareholders, the Company takes measures for providing information that
constitutes the content of Reference Documents for the General Meeting of Shareholders, etc. (items for whichmeasures for providing information in electronic format are to be taken) in electronic format, and posts thisinformation on the following websites. Please access any of these to review the information.
The Company’s website:
http://www.nisseijushi.co.jp/ (in Japanese)(From the above website, select “Investor Relations,” and then “Notice of Convocation of General Meeting of
Shareholders.”)
Website for informational materials for the General Meeting of Shareholders:
https://d.sokai.jp/6293/teiji/ (in Japanese)
TSE website (Listed Company Search):https://www2.jpx.co.jp/tseHpFront/JJK010010Action.do?Show=Show (in Japanese)(Access the TSE website by using the internet address shown above, enter “Nissei Plastic Industrial” in “Issue name(company name)” or the Company’s securities code “6293” in “Code,” and click “Search.” Then, click “Basic
information” and select “Documents for public inspection/PR information.” Under “Filed information available forpublic inspection,” click “Click here for access” under “[Notice of General Shareholders Meeting /Informational
Materials for a General Shareholders Meeting].”)Instead of attending the meeting, you may exercise voting rights by means of either one of the following methods.
Please take your time to examine the Reference Documents for the General Meeting of Shareholders as set forth
below and exercise your voting rights.
When you exercise your voting rights via the Internet, etc.:
Please indicate your approval or disapproval on the Company’s designated voting rights exercise website(https://evote.tr.mufg.jp/) and exercise your voting rights by no later than 5:20 p.m. on Thursday, June 22, 2023 (JST).
When you exercise your voting rights in writing (by mail):
Please indicate your approval or disapproval on the enclosed Voting Exercise Form and return it to us so that itreaches us by no later than 5:20 p.m. on Thursday, June 22, 2023 (JST).
1. Date and time:
2. Venue:

Friday, June 23, 2023, at 10:00 a.m. (JST)Meeting Room on the second floor of the Head Office of the Company
2110 Minamijo, Sakaki-machi, Hanishina-gun, Nagano-ken-1-3. Purpose of the meeting
Items to be reported:
1. Report on the content of the Business Report, the content of the Consolidated Financial Statements and the
Audit Results of Consolidated Financial Statements by the Financial Auditor and the Audit and Supervisory
Committee for the 67th Fiscal Year (from April 1, 2022 to March 31, 2023)
2. Report on the content of the Non-consolidated Financial Statements for the 67th Fiscal Year (from April 1,
2022 to March 31, 2023)
Items to be resolved:
Proposal No. 1
Appropriation of Surplus
Proposal No. 2
Election of Nine Directors (Excluding Directors Who Are Audit and Supervisory
Committee Members)
Proposal No. 3
Election of Financial Auditor
4. Guide for exercising voting rights, etc.
(1) Handling of the Voting Exercise Form without indication of approval or disapproval
If there is no indication of approval or disapproval for the respective proposals on the Voting Exercise Form,it shall be deemed as an indication of approval.
(2) Exercise voting rights by proxyIf you are not attending the General Meeting of Shareholders, you may send another shareholder who has
voting rights of the Company as your proxy to the General Meeting of Shareholders. However, please beaware that it is necessary to submit the Voting Exercise Form of the proxy himself/herself as well as written
proof of their right of proxy.
(3) If revisions to the items subject to measures for electronic provision arise, a notice of the revisions and thedetails of the items before and after the revisions will be posted on each aforementioned website.

- When you attend the meeting on the day, please submit the enclosed Voting Exercise Form at the reception of the venue.
- We will be wearing casual business attire (in harmony with the government’s Cool Biz campaign). Therefore, we invite shareholders
to come in casual business attire.
- For this General Meeting of Shareholders, paper-based documents stating items for which measures for providing information inelectronic format are to be taken will be delivered to all shareholders regardless of whether they have made a request for delivery ofsuch documents. However, items to be presented as the Matters related to share acquisition right(s) of the Company, etc., theConsolidated Statements of Changes in Equity, the Notes to Consolidated Financial Statements, the Non-consolidated Statements of
Changes in Equity and the Notes to Non-consolidated Financial Statements are not included in the document you will receive, in
accordance with laws, regulations and the provision of Article 15, paragraph (2) of the Articles of Incorporation of the Company.
The Business Report, the Consolidated Financial Statements and the Non-consolidated Financial Statements that have been audited
for the preparation of the Audit Report by the Audit and Supervisory Committee and the Financial Audit Report by Financial Auditor
include items listed on the document, as well as items to be presented as the Matters related to share acquisition right(s) of theCompany, etc., the Consolidated Statements of Changes in Equity, the Notes to Consolidated Financial Statements, the Nonconsolidated Statements of Changes in Equity and the Notes to Non-consolidated Financial Statements.

-2-

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

Appropriation of Surplus

The Company proposes the appropriation of surplus as follows:
Matters related to year-end dividends
The Company regards the return of profit to its shareholders as one of the important managerial issues, andestablished a basic policy to pay dividends stably based on comprehensive consideration of its businessperformance, financial condition, etc.
Considering matters including the business performance of the fiscal year and future business development, theCompany proposes to pay year-end dividends for the fiscal year as follows:
(1)
(2)

(3)

Type of dividend property
To be paid in cash.
Matters related to the allotment of dividend property and aggregate amount thereof¥15 per common share of the Company
Total payment: ¥292,549,425
Accordingly, including the interim dividend of ¥20 per share, the annual dividend will be ¥35 per share.
Effective date of dividends of surplus
June 26, 2023

-3-

Proposal No. 2

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

The terms of office of all ten Directors (excluding Directors who are Audit and Supervisory Committee Members;
the same applies hereafter in this proposal) will expire at the conclusion of this meeting.
Accordingly, the Company proposes the election of nine Directors.
With respect to this proposal, the Audit and Supervisory Committee has furnished its opinion that there are no mattersthat need to be pointed out.
The candidates for Director are as follows:(Reference) List of candidates
Candidate
No.

Attribute1

Reelection

Hozumi Yoda

2

Reelection

Kiyoto Takizawa

3

Reelection

Kazuo Usui

4

Reelection

Takahiro Kobayashi

5

Reelection

Kazuyoshi Horiuchi

Director

6

Reelection

Hidetoshi Ogiwara

Director & Advisor

7

New election

Kikuo Sakurada

Operating Officer and General Manager of
the Sales Promotion Department

Name

Current position

President and Representative Director
Managing Director in charge of overseas
production
Director and Chief General Manager of theEngineering Division
Director and Chief General Manager of the
Production Division

Reelection
OutsideYosuke Taira
Outside Director
Independent
Reelection
9
OutsideStephen Bruce Moore
Outside Director
Independent
Reelection: Candidate for Director to be reelected
Outside: Candidate for outside Director
Independent: Independent officer as defined by the securities exchange, etc.
New election: Candidate for Director to be newly elected8-4-

Number of timesofattendance/Boardof Directors
meetings
20/20(100%)
20/20(100%)
20/20(100%)
20/20(100%)
16/16(100%)
20/20(100%)–
20/20(100%)
16/16(100%)

Candidate
No.

Name
(Date of birth)

Hozumi Yoda
(July 30, 1963)

Number of the
Career summary, position and responsibility in the Company, andCompany’s sharessignificant concurrent positions outside the Company
owned
July 1989
Joined the Company
May 1999
Seconded to NISSEI AMERICA, INC.
May 1999
Director and Vice President
June 1999
Director of the Company
Apr. 2001
President and Representative Director
645,760(current position)

Significant concurrent positions outside the Company
Representative Director and Chairman of NISSEI HOMMA
MACHINERY CO., LTD.
Chairman of NEGRI BOSSI S.P.A.
Chairman of NISSEI AMERICA, INC.
Reasons for nomination as candidate for Director, etc.
Reasons for nomination
For the Company, Hozumi Yoda has served as Director for 24 years and Representative Director for 22 years,
demonstrated strong leadership and contributed to the improvement of corporate value. He is strongly motivated to keep
aiming for sustainable growth and the improvement of corporate value. We judge that he is an appropriate person to
manage the Company and propose his reelection as Director.
TenureAt the conclusion of this meeting, his tenure as Director will have been 24 years.
Reelection

1-5-

CandidateNo.

2

Number of the
Career summary, position and responsibility in the Company, andCompany’s sharessignificant concurrent positions outside the Company
owned
Apr. 1979
Joined the Company
June 2003
Operating Officer in charge of technologicaldevelopment and General Manager of theSpecial Machine Development Department
Apr. 2004
Operating Officer in charge of technologicaldevelopment, General Manager of Engineering
Marketing Department and General Manager of
the Special Machine Development Department
June 2004
Operating Officer and General Manager of theTechnology Management Department
June 2005
Director, General Manager of the Technology
Management Department, General Manager of
the Intellectual Property Department andGeneral Manager of the Engineering Marketing
Department
Apr. 2006
Director and General Manager of the Materials
Department
Kiyoto Takizawa
June 2006
Director, General Manager of the Procurement(February 20, 1957)
Management Department and General Manager
6,000of the Materials Department
Reelection
Apr. 2008
Director and General Manager of the
Procurement Management Department
June 2008
Managing Director and Chief General Managerof the Production Division
June 2010
Director in charge of the China region
June 2013
Director in charge of overseas production
June 2021
Managing Director in charge of overseas
production(current position)
Significant concurrent positions outside the Company
Representative Director of NISSEI PLASTIC MACHINERY(TAICANG) CO., LTD.
Chairman of NISSEI PLASTIC MACHINERY (THAILAND)
CO., LTD.
Representative Director of NISSEI PLASTIC MACHINERY(HAIYAN) CO., LTD.
President of NEGRI BOSSI S.P.A.
Reasons for nomination as candidate for Director, etc.
Reasons for nomination
Kiyoto Takizawa, who currently serves as Managing Director in charge of overseas production, has a track record ofpromoting manufacturing and procurement in overseas markets since the launch of overseas production sites. He also hasabundant experience and deep insight related to these subjects. We judge that he can continue to contribute to the
management and development of the Company and propose his reelection as Director.
TenureAt the conclusion of this meeting, his tenure as Director will have been 18 years.
Name(Date of birth)-6-

Candidate
No.

3

4

Number of the
Career summary, position and responsibility in the Company, andCompany’s sharessignificant concurrent positions outside the Company
owned
Apr. 1982
Joined the Company
June 2008
General Manager of the No. 2 Engineering
Kazuo Usui
Department of the Engineering Division(July 28, 1959)
5,800
June 2014
Director and Chief General Manager of theReelection
Engineering Division(current position)
Reasons for nomination as candidate for Director, etc.
Reasons for nomination
Since joining the Company, Kazuo Usui has been working at the Engineering Department. Through his experience,
including as a person in charge of the Engineering Department, he has acquired abundant experience and insight, andbeen performing his duties and fulfilling his responsibilities. We judge that he can continue to contribute to the
management and development of the Company and propose his reelection as Director.
TenureAt the conclusion of this meeting, his tenure as Director will have been nine years.
Apr. 1984
Joined the Company
Apr. 2007
Deputy Manager of the Manufacturing
Department
June 2008
General Manager of the Manufacturing
Department
July 2012
Director and Deputy Manager of NISSEIPLASTIC MACHINERY (TAICANG) CO.,LTD. (Dispatched)
Aug. 2014
Director and Manager
Takahiro Kobayashi
July 2015
General Manager of the Production Engineering(February 12, 1961)
6,400
Department of the Company
June 2017
Operating Officer, Deputy General Manager ofReelection
the Production Division and General Manager of
the Procurement Department
June 2018
Director, Chief General Manager of the
Production Division and in charge of the Quality
Assurance Department(current position)
Significant concurrent positions outside the Company
Representative Director and Chairman of NISSEI METALWORKS CO., LTD.
Reasons for nomination as candidate for Director, etc.
Reasons for nomination
Since joining the Company, through his experience working at the Engineering Department, the Production Engineering
Department, the Manufacturing Department, NISSEI PLASTIC MACHINERY (TAICANG) CO., LTD., etc. Takahiro
Kobayashi has acquired abundant knowledge and insight regarding the Engineering and Production departments, andbeen performing his duties and fulfilling his responsibilities. We judge that he can continue to contribute to the
management and development of the Company and propose his reelection as Director.
TenureAt the conclusion of this meeting, his tenure as Director will have been five years.
Name(Date of birth)-7-

Candidate
No.

5

Number of the
Career summary, position and responsibility in the Company, andCompany’s sharessignificant concurrent positions outside the Company
owned
May 1989
Joined the Company
Apr. 2009
General Manager of the Internal Audit
Department
Kazuyoshi Horiuchi(September 29, 1961)
July 2010
General Manager of the Finance Department
4,200
June 2019
Operating Officer and General Manager of theReelection
Finance Department
June 2022
Director in charge of the Finance Department(current position)
Reasons for nomination as candidate for Director, etc.
Reasons for nomination
Since joining the Company, Kazuyoshi Horiuchi has been engaged in the fields of accounting and finance and acquired a
wealth of experience. He has been working on issues concerning consolidated subsidiaries, achieving results anddemonstrating strong leadership. We judge that as a Director, he can continue to contribute to the development of theCompany and propose his reelection as Director.
TenureAt the conclusion of this meeting, his tenure as Director will have been one year.
Name(Date of birth)-8-

Candidate
No.

6

Number of the
Career summary, position and responsibility in the Company, andCompany’s sharessignificant concurrent positions outside the Company
owned
Apr. 1974
Joined The Hachijuni Bank, Ltd.
June 2006
Audit & Supervisory Board Member
June 2010
Managing Director in charge of the Internal
Audit Department, the Corporate Planning
Department, the General Affairs Department, theFinance Department and compliance of theCompany
Feb. 2011
Managing Director in charge of the Internal
Audit Department, the Corporate Planning
Department, the General Affairs Department, theFinance Department, compliance and risk
management
June 2011
Managing Director in charge of the Internal
Audit Department, the Corporate Planning
Department, the General Affairs Department, theFinance Department, the Human Resources
Hidetoshi Ogiwara
Department, compliance and risk management(March 31, 1950)
23,900June 2014
Senior Managing Director in charge of theReelection
Internal Audit Department, the Corporate
Planning Department, the General Affairs
Department, the Finance Department, the
Human Resources Department, compliance andrisk management
June 2018
Senior Managing Director in charge of the
Corporate Planning Department, the Finance
Department, the General Affairs Department, the
Human Resources Department, compliance andrisk management
June 2019
Senior Managing Director in charge of the
Corporate Planning Department, the Human
Resources Department, compliance and risk
management
June 2021
Director & Advisor(current position)
Reasons for nomination as candidate for Director, etc.
Reasons for nomination
Through his experience as a full-time Audit & Supervisory Board Member of The Hachijuni Bank, Ltd., Hidetoshi
Ogiwara has acquired abundant knowledge and experience regarding company management and laws and regulations
including the Companies Act. He has outstanding insight, having held the positions of a Senior Managing Director, etc.
We judge that he can continue to contribute to the development of the Company by making management decision andproviding advice on management decisions and propose his reelection as Director.
TenureAt the conclusion of this meeting, his tenure as Director will have been 13 years.
Name(Date of birth)-9-

Candidate
No.

7

8

9

Number of the
Career summary, position and responsibility in the Company, andCompany’s sharessignificant concurrent positions outside the Company
owned
Apr. 1978
Joined the Company
Apr. 2006
Manager of the Marketing Strategy Department
June 2008
General Manager of Head Office TechnicalCenter
Kikuo Sakurada(March 20, 1960)
July 2014
Head of the East Japan Block
600
Apr. 2017
General Manager of the Sales Promotion
New election
Department
June 2018
Operating Officer and General Manager of theSales Promotion Department(current position)
Reasons for nomination as candidate for Director, etc.
Reasons for nomination
Since joining the Company Kikuo Sakurada has acquired abundant experience and familiarity with all aspects of theoperations through working at the Manufacturing Department, Technical Center and overseas subsidiaries. Especially in
the Sales Department, he has been engaged in the front line of sales as the Head of the East Japan Block and General
Manager of the Sales Promotion Department to develop, cultivate and maintain customers, and has achieved results. We
judge that as a Director, he can contribute to the development of the Company and propose his election as Director.
TenureHe is a candidate for Director to be newly elected.
Apr. 2002
Joined SHOWA PAXXS CORPORATION
Sept. 2006
Joined Tohmatsu Tax Co.
Yosuke Taira
Apr. 2011
Registered as a tax accountant(November 6, 1979)
Dec. 2014
Resigned from Tohmatsu Tax Co.
3,800
Reelection
Dec. 2014
President of Yosuke Taira Tax Accountant OfficeOutside(current position)
Independent
June 2016
Outside Director of the Company(current position)
Reasons for nomination as candidate for outside Director and overview of expected roles, etc.
Reasons for nomination
Yosuke Taira is thoroughly familiar with tax affairs and accounting and has considerate expertise as a tax accountant.
Based on his experience and knowledge, he has been providing valuable opinions from an independent viewpoint. We
expect that he will contribute to supervising the management and development of the corporate governance system of theCompany as outside Director and independent officer, and proposes his reelection.
TenureAt the conclusion of this meeting, his tenure as outside Director will have been seven years.
Jan. 1991
Joined McGraw Hill
Chief of Asia Pacific Region, Modern Plastics
magazine
Stephen Bruce Moore
Oct. 1999
Joined Chemical Week
(October 6, 1966)
Editor in charge of Asia Pacific Region0
Apr. 2009
Joined Intercedent Asia Pte. Ltd.
Reelection
Director and Manager of Precision Engineering
OutsideResearch
Independent
June 2021
CEO, MLT Analytics Pte. Ltd. (current position)
June 2022
Outside Director of the Company(current position)
Reasons for nomination as candidate for outside Director and overview of expected roles, etc.
Reasons for nomination
Stephen Bruce Moore held the positions of a journalist, a researcher and a Director at a magazine publisher specializingin the plastics industry, and at a research firm. With a global perspective, he is familiar with the plastics industry ingeneral and has acquired advanced knowledge. He also has prominent level of expertise regarding corporate
management as CEO of MLT Analytics Pte. Ltd. As an outside Director and an independent officer of the Company, heis expected to provide useful opinions and advice from a global and objective viewpoint. We expect that he willcontribute to supervising the management and global development of the Company, and propose his reelection.
TenureAt the conclusion of this meeting, his tenure as outside Director will have been one year.
Name(Date of birth)- 10 -

Notes:1. There is no special interest between each candidate and the Company.
2. Yosuke Taira and Stephen Bruce Moore are candidates for outside Director.
3. The Company has submitted notification to the Tokyo Stock Exchange and the Nagoya Stock Exchange that Yosuke Tairaand Stephen Bruce Moore have been designated as independent officers as defined by the aforementioned exchanges.
4. Limited liability agreement with outside Director
Pursuant to the provisions of Article 427, paragraph (1) of the Companies Act, the Company has entered into a limited
liability agreement with Yosuke Taira and Stephen Bruce Moore that limits their liability for damages under Article 423,
paragraph (1) of the Companies Act, having the amount stipulated by laws and regulations as the limit. If the election of
Yosuke Taira and Stephen Bruce Moore is approved, the Company will continue the said agreement with them.
5. The Company has entered into a directors and officers liability insurance contract with an insurance company as stipulated
in Article 430-3, paragraph (1) of the Companies Act. The contract covers damages that may arise due to the insured,
including the Company’s Directors, assuming liability in relation to their execution of duties or receiving a claim in
relation to the pursuit of such liability. If the candidates are elected as Director, they will become insured under the said
insurance contract. The Company plans to renew the said insurance contract with the same terms and conditions at thenext renewal.
6. Kikuo Sakurada is a candidate for Director to be newly elected.

- 11 -

(Reference) Skill matrix of the Board of Directors
The skill matrix of the Board of Directors when Proposal No. 2 is approved as originally proposed is as follows:
Position

Corporate
management

Production/
Technology/

Sales/Marketing

Finance/
Accounting/Legal○

Development

Hozumi Yoda

Director○○○

Kiyoto Takizawa

Director○○○

Kazuo Usui

Director○

Takahiro Kobayashi

Director○

Kazuyoshi Horiuchi

Director

Hidetoshi Ogiwara

Director

Kikuo Sakurada

Director

Yosuke Taira

Outside Director

Stephen Bruce Moore

Outside Director

○
○

○

○

○

○

○

◎
(Accounting/Tax)○○○

Director
Yoshinao Handa

Full-time Audit
and Supervisory○

Committee
MemberOutside Director
Kazuyuki Narusawa

Audit andSupervisory

○

○

○

○

Committee
MemberOutside Director
Haruko Nishida

Audit andSupervisory
Committee
MemberCorporate management: Compliance, risk management, ESG and sustainability included
Sales/marketing: Global business included◎: Experts working on accounting, tax or legal affairs as a business- 12 -○

Reference
1. Policy and procedure of the nomination of the candidate for Director
For the election of Directors of the Company, with the aim of enabling appropriate decision-making on ourGroup’s business, which is the manufacturing and sales of plastic injection molding machines, in an agile mannerand supervising the execution of the business, our basic policy is that talented people who have professional
capabilities, knowledge and insight of the business above shall be appointed as a candidate for inside Director,
and talented people who can actively point out issues related to growth strategies and governance from theviewpoint of stakeholders and customers with diverse values should be nominated as a candidate for outside
Director. Based on the policy above, we widely search for talented people within and outside of the Company.
The Nominating Committee, which consists of three Directors with special titles and four independent outside
Directors, deliberates candidates for Directors based on internal criteria for the nomination of candidates for
Directors, and then the Board of Directors determines.
2. Criteria for nominating outside Director
In nominating a candidate for outside Director, on the premise of meeting the provisions of the Companies Act
and the independence standards defined by Tokyo Stock Exchange, Inc., we make an assessment based on our
own Outside Director Nomination Criteria below:
1) A candidate should have experience and knowledge that allows him/her to express valuable opinions about
the management of the Company at the Board of Directors, etc. from an independent and objective
viewpoint.
2) A candidate should be able to oversee the conflicts of interest between management and shareholders as
required as outside Director of the Company and appropriately present the opinions of stakeholders to theBoard of Directors.
3) A candidate should have the ability to supervise management as a member of the Board of Directors
through the appointment and dismissal of executives and other important decision-making.
4) A candidate should be able to allocate his/her time to attend at least 75% of the Board of Directors meetingsas an outside Director.
* As for a concurrent position serving as an officer of other companies, it is regarded as “within thereasonable range of concurrent positions” if a candidate can ensure an attendance rate of at least 75% for
the Board of Directors meetings.
5) A candidate should have considerable knowledge in either industrial machinery-related manufacturing,corporate law, accounting or management, and be able to act as an outside Director of the Company.

- 13 -

Proposal No. 3

Election of Financial Auditor

Ernst & Young ShinNihon LLC, the Financial Auditor of the Company, will resign at the conclusion of this meeting
due to the expiration of its term of office. Therefore, the Company proposes the election of a new Financial Auditor.
This proposal is submitted pursuant to the decision of the Audit and Supervisory Committee.
The Audit and Supervisory Committee has nominated Kanade Partnership as a candidate for Financial Auditor as it
expects that the appointment of Kanade Partnership will enable audits to be performed from a fresh perspective
appropriate to the size of our business. The Committee also comprehensively considered the candidate’s expertise,independence, quality control systems, and level of audit fees that are required as a Financial Auditor and concluded
that the candidate is qualified to serve as the Company’s Financial Auditor.
The candidate for Financial Auditor is as follows:(as of May 1, 2023)
Name

Kanade Partnership

Location of offices

Principal office
Other offices

Toyo Building
1-2-10 Nihombashi, Chuo-ku, Tokyo
Nagano Office, Kanazawa Office, Shizuoka Office

Corporate history

October 2020

Kanade Partnership was established

Overview

Capital¥69 million
Personnel composition Partners(Certified public accountants) 12
Specified partner
1
Employees (Certified public accountants) 32(Other employees)
22
Total
67
Number of clients26- 14 -