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: 2907
June 5, 2024

To our shareholders,Naozumi Ashikaga
Representative Director, President and Executive Officer
AHJIKAN CO., LTD.
7-3-9, Shoko-center, Nishi-ku, Hiroshima-city

Notice of the 60th Annual General Meeting of Shareholders
We are pleased to announce the 60th Annual General Meeting of Shareholders of AHJIKAN CO., LTD. (the“Company”), which will be held as outlined below.
In convening this General Meeting of Shareholders, the Company has taken measures to provide information that
constitutes the content of reference documents for the general meeting of shareholders (matters for which measuresfor providing information in electronic format are to be taken) in electronic format, and has posted the informationon the Company’s website, etc. Please access the website below to view the information.
[The Company’s website]
https://www.ahjikan.co.jp/ (in Japanese)(To view the information, please access the aforementioned Company’s website and select “Investor Relations/Stock Information,”“Stock/Shareholders Information,” “Materials Related to the General Meeting of Shareholders” and then “Notice of General Meeting of
Shareholders.”)

Matters for which measures for providing information in electronic format are to be taken have also been posted on
the website of the Tokyo Stock Exchange, Inc. (TSE).
[The TSE website (Listed Company Search)]https://www2.jpx.co.jp/tseHpFront/JJK010010Action.do?Show=Show (in Japanese)(To view the information, please access the aforementioned TSE website. Enter “AHJIKAN” in the “Issue name (company name)” fieldor the Company’s securities code “2907” in the “Code” field and click “Search.” Then, click “Basic information” and select “Documentsfor public inspection/PR information.” Then, you can view the document from “Notice of General Shareholders Meeting /Informational
Materials for a General Shareholders Meeting” shown under “Filed information available for public inspection.”)In addition to the aforementioned websites, the Company also posts the information on the website below.
[Website for posted informational materials for the general meeting of shareholders]
https://d.sokai.jp/2907/teiji/ (in Japanese)
Instead of attending the meeting in person, you may exercise your voting rights via the internet or in writing. Please
review the following Information on Exercise of Voting Rights and the Reference Documents for the General Meetingof Shareholders, and exercise your voting rights by Wednesday, June 26, 2024, at 5:20 p.m. (JST).

-1-1. Date and Time: Thursday, June 27, 2024, at 10:00 a.m. (JST)
2. Venue
Kinsei/Ginsei Banquet Room on the third floor of Hiroshima Sun Plaza
3-1-1, Shoko-center, Nishi-ku, Hiroshima-city
3. Purpose of the Meeting
Matters to be reported
1. Business Report, Consolidated Financial Statements and Non-consolidated Financial Statements for the 60th
fiscal year (from April 1, 2023 to March 31, 2024)
2. Results of audits of Consolidated Financial Statements for the 60th fiscal year by the Financial Auditor and
Audit & Supervisory Board
Matters to be resolved
Proposal No. 1
Appropriation of Surplus
Proposal No. 2
Election of Six Directors (Excluding Directors Who Are Board Members of Directors ofCompanies with Committees)
4. Matters Decided upon Convocation (Information on Exercise of Voting Rights)(1) If you exercise your voting rights in writing (by mail) and there is no indication of approval or disapprovalof a proposal in the voting form, it shall be deemed a vote of approval for the proposal.
(2) If you exercise your voting rights more than once via the internet, the most recent vote will be treated asvalid.
(3) If you exercise your voting rights both via the internet and in writing (by mail), the vote made through theinternet will be treated as valid, regardless of the date and time they were received.
(4) If you exercise your voting rights by proxy, one other shareholder with voting rights of the Company may
attend this General Meeting of Shareholders as your proxy. Please note that the person will be required tosubmit a document certifying the authority of proxy.

--

When attending the Meeting in person, please submit the enclosed Voting Form to the reception. In addition, please assist us inconserving resources by bringing this notice with you.
In accordance with laws and regulations as well as provisions of the Company’s Articles of Incorporation, from among matters tobe provided with this notice, the following matters have been excluded from the paper-based documents and posted as matters thathave not been included in the paper-based documents on each of the websites on page 1.
(i) “Organization and Policies of the Company” in the Business Report(ii) “Consolidated Statement of Changes in Equity” and “Notes to Consolidated Financial Statements” in the Consolidated
Financial Statements(iii) “Statement of Changes in Equity” and “Notes to Non-Consolidated Financial Statements” in the Non-Consolidated Financial
Statements
Accordingly, the Business Report, Consolidated Financial Statements, and Non-consolidated Financial Statements included in thisnotice are a part of the documents audited by the Financial Auditor in preparing an accounting audit report and by the Audit &Supervisory Board in preparing an audit report.
If a situation that requires revisions to the matters for which measures for providing information in electronic format are to be taken
arises, a notice of the revisions will be posted on each of the websites on page 1.

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

Appropriation of Surplus

The Company has placed long-term and stable return of profit to shareholders as an important management priority.
Its basic policy is to generate profit stably, to secure internal reserves essential for strategic investments forsustainable growth and expansion and the implementation of measures to increase corporate value, and to distributedividends linked to performance in consideration of business results through indicators such as the dividend on equity
ratio.
1. Matters concerning year-end dividends
In response to the continued support from shareholders and taking into account business results, the Company
proposes year-end dividends for the fiscal year under review as follows.
(1) Type of dividend property
To be paid in cash.
(2) Allotment of dividend property to shareholders and the total amount25 yen per common share of the Company (including ordinary dividends of 15 yen and special dividendsof 10 yen)
Total amount: 190,273,675 yen(3) Effective date of dividends of surplus
June 28, 2024
2. Matters concerning other appropriation of surplus
As for internal reserves, the Company proposes the following to strengthen the corporate structure and prepare
for future business development.
(1) Item of surplus to be increased and amount of increase
General reserve: 1,200,000,000 yen(2) Item of surplus to be decreased and amount of decrease
Retained earnings brought forward: 1,200,000,000 yen-3-Proposal No. 2

Election of Six Directors (Excluding Directors Who Are Board Members of Directors ofCompanies with Committees)

The terms of office of all five currently serving Directors (excluding Directors who are Board Members of Directorsof Companies with committees) will expire at the conclusion of this General Meeting of Shareholders. Therefore,
the Company proposes the election of six Directors (excluding Directors who are Board Members of Directors ofCompanies with committees), including one new Director.
With regard to this proposal, the Audit & Supervisory Board has expressed its opinion that all candidates for Director
are suitable for the position.
The candidates for Director (excluding Director who is Board Member of Directors of Companies with committees)
are as follows.
Candidateno.
1

Reelection

Keiichi Ashikaga

2

Reelection

Naozumi Ashikaga

Name

Current position in the Company
Director and Chairman
Representative Director,
President and Executive Officer
Representative Director andSenior Managing Executive
Officer3

Reelection

Tomoatsu Esumi

4

Reelection

Hiroshi Oki

5

Reelection

Yoshitake Yoshino

Director and Executive Officer6

New election

Koji Fukushima

Executive Officer

Director and Managing
Executive Officer-4-

Current responsibility in the
Company

Supervisor of Management
Administration Div., Logistics
Planning Dept. and domestic
subsidiaries and affiliates(Inokuchi Sanko Co., Ltd.)Supervisor of Product Div. anddomestic subsidiaries andaffiliates (AHJIKAN AGRIFARM CO., LTD.)
Supervisor of Research &Development Div., Overseas
Business Div., and overseas
subsidiaries and affiliates
Supervisor of Sales andMerchandise Procurement Div.

1

Keiichi Ashikaga

Reelection(Tenure: 20 years)
December 26, 1964

Career summary, and position and responsibility in the Company(Significant concurrent positions outside the Company)
Oct. 1995
Joined the Company
Jun. 2004

Director of the Company

Apr. 2009
Apr. 2012

General Manager of West Japan Sales Dept. of theCompany
Director and Vice President of the Company

Apr. 2017

Representative Director and President of the Company

Apr. 2021

Director and Chairman of the Company (current position)

2

Naozumi Ashikaga

Reelection(Tenure: 10 years)
May 16, 1968

Career summary, and position and responsibility in the Company(Significant concurrent positions outside the Company)
Oct. 1998
Joined the Company
Apr. 2010
Apr. 2012

General Manager of Product Planning Dept. of theCompany
Executive Officer of the Company

Jun. 2014

General Manager of West Japan Sales Dept. of theCompany
Director of the Company

Apr. 2017

Jun. 2019

Vice General Manager of Sales and Merchandise
Procurement Div. of the Company
General Manager of Health food Business Div. of theCompany
General Manager of Business Management Div. of theCompany
Managing Director of the Company

Apr. 2021

Representative Director and President of the Company

Jun. 2021

Representative Director, President and Executive Officer of
the Company (current position)(Significant concurrent positions outside the Company)

Apr. 2018

Chairman of SHANDONG AHJIKAN FOOD CO., LTD.
Chairman of AK FOODS (QINGDAO) CO., LTD.

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Number of theCompany’s shares owned
Attendance at Board of
Directors meetings

37,800100% (15/15)

Reasons for nomination
as the candidate for Director
He has served in the position of Representative
Director and has contributed to the further
development of the Company’s group with the“founder’s spirit” even after he assumed office of
Director and Chairman in April 2021. Based on his
remarkable personality and insight in addition tohis achievements, the Company judges that he iswell-suited for the role of Director.

Number of theCompany’s shares owned
Attendance at Board of
Directors meetings

35,700100% (15/15)

Reasons for nomination
as the candidate for Director
He has served as Representative Director and been
responsible for the management of the Company’sgroup since April 2021. Given his extensive
experience and wide knowledge gained from a
global perspective, he is expected to contribute to
the sustainable growth of the Company’s groupand the increase in corporate value over the
medium- to long-term. Based on his remarkablepersonality and insight as well as these qualities,
the Company judges that he is well-suited for therole of Director.

3

Tomoatsu Esumi

Reelection(Tenure: 16 years)
March 21, 1959

Career summary, and position and responsibility in the Company(Significant concurrent positions outside the Company)
Mar. 1987
Joined the Company
Jun. 2001

Executive Officer of the Company

Apr. 2003
Jun. 2008

General Manager of Business Promotion Div. of theCompany
Director of the Company

Apr. 2009

General Manager of President’s Office of the Company

Apr. 2011

General Manager of Burdock Tea Business Promotion
Office of the Company
Managing Director of the Company

Apr. 2017

Apr. 2018
Apr. 2020
Jun. 2021
Apr. 2022
Jun. 2023

General Manager of Research & Development Div. of theCompany
General Manager of Health food Business Div. of theCompany
General Manager of Product Planning Dept. of theCompany
General Manager of Sales and Merchandise Procurement
Div. of the Company
Director and Senior Managing Executive Officer of theCompany
General Manager of Management Administration Div. of
the Company
Representative Director and Senior Managing Executive
Officer of the Company (current position)
Supervisor of Management Administration Div., Logistics
Planning Dept. and domestic subsidiaries and affiliates(Inokuchi Sanko Co., Ltd.)-6-

Number of theCompany’s shares owned
Attendance at Board of
Directors meetings

14,900100% (15/15)

Reasons for nomination
as the candidate for Director
He has expertise in a broad range of businesses andextensive experience in corporate management,
which have been gained through his career as an
officer in charge of the managementadministration, health food business, productdevelopment, and sales segments and a trackrecord of being responsible for the management ofdomestic subsidiaries and affiliates. Based on his
remarkable personality and insight as well as thesequalities, the Company judges that he is wellsuited for the role of Director.

4

Hiroshi Oki

Reelection(Tenure: 1 year)
March 7, 1960

Career summary, and position and responsibility in the Company(Significant concurrent positions outside the Company)
Mar. 1983
Joined the Company
Apr. 2000

Tosu Plant Manager of the Company

Apr. 2010

General Manager of Product Control Dept. of the Company

Apr. 2012

Vice General Manager of Product Div. of the Company

Apr. 2013

General Manager of Product Engineering Dept. of theCompany
Executive Officer of the Company

Apr. 2018
Jun. 2018

General Manager of Product Div. of the Company (current
position)
Director of the Company

Jun. 2021

Managing Executive Officer of the Company

Jun. 2023

Director and Managing Executive Officer of the Company(current position)
Supervisor of Product Div. and domestic subsidiaries andaffiliates (AHJIKAN AGRI FARM CO., LTD.)(Significant concurrent positions outside the Company)

Number of theCompany’s shares owned
Attendance at Board of
Directors meetings

6,800
100% (11/11)

Reasons for nomination
as the candidate for Director
He has extensive experience in business operationsof the Company’s group, which has been gained
through his career as an officer in charge of the
product segments of the Company exercising his
abilities in managing plant operations andsupervising the product engineering andpurchasing segments and a track record of being
responsible for the management of domestic
subsidiaries and affiliates. Based on his remarkablepersonality and insight as well as these qualities,
the Company judges that he is well-suited for therole of Director.

Representative Director and President of AHJIKAN AGRIFARM CO., LTD.

5

Yoshitake Yoshino

Reelection(Tenure: 1 year)
April 21, 1963

Career summary, and position and responsibility in the Company(Significant concurrent positions outside the Company)
Mar. 1987
Joined the Company
Apr. 2012
Oct. 2014
Apr. 2017
Apr. 2018
Apr. 2019
Apr. 2021
Apr. 2023
Jun. 2023

General Manager of Product Planning Dept. of theCompany
Seconded to SHANDONG AHJIKAN FOOD CO., LTD. as
Chief Executive Officer
Seconded to Ahjikan Guangzhou Food Management Co.,
Ltd. as Chief Executive Officer
Executive Officer of the Company
Vice General Manager of Research & Development Div. of
the Company
General Manager of Research & Development Div. of theCompany
General Manager of Overseas Business Div. of theCompany (current position)
Director and Executive Officer of the Company (current
position)
Supervisor of Research & Development Div., Overseas
Business Div., and overseas subsidiaries and affiliates(Significant concurrent positions outside the Company)
CEO of AHJIKAN FOODS, INC.

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Number of theCompany’s shares owned
Attendance at Board of
Directors meetings

6,400
100% (11/11)

Reasons for nomination
as the candidate for Director
He has extensive experience in business operationsof the Company’s group, which has been gained
through a track record of working at product andsales segments, being responsible for the
management of overseas subsidiaries and affiliates,and supervising the research & development
segment. Based on his remarkable personality andinsight as well as these qualities, the Company
judges that he is well-suited for the role of
Director.

6

Koji Fukushima

New election
August 3, 1964

Career summary, and position and responsibility in the Company(Significant concurrent positions outside the Company)
Mar. 1987
Joined the Company
Apr. 2012
Apr. 2018

General Manager of Corporate Strategy Planning Dept. of
the Company
Executive Officer of the Company (current position)
General Manager of Sales Planning Dept. of the Company

Apr. 2019
Apr. 2022(Notes)Vice General Manager of Sales and Merchandise
Procurement Div. of the Company
General Manager of Sales and Merchandise Procurement
Div. of the Company (current position)
Supervisor of Sales and Merchandise Procurement Div.

Number of theCompany’s shares owned
Attendance at Board of
Directors meetings

7,300
-

Reasons for nomination
as the candidate for Director
He has a skill in negotiating with external parties, adiverse network of connections, and the ability tomake precise decisions from a broad perspective,
which has been gained through his career as an
officer in charge of the sales segments of theCompany exercising his abilities in marketing andbusiness strategies. Based on his remarkablepersonality and insight as well as these qualities,
the Company judges that he is well-suited for therole of Director.

1. There are no special interests between any of the candidates and the Company.
2. The Company has entered into a directors and officers liability insurance (D&O Insurance) agreement with an insurancecompany pursuant to Article 430-3, paragraph (1) of the Companies Act. The insurance covers the damages that may arise
when the insured assumes liability for the execution of their duties or receives a claim related to the pursuit of such liability.
If the candidates are elected and assume office as Directors, they will be insured under the insurance contract. The
Company intends to renew the insurance contract with the same terms and conditions upon the renewal of such contract.

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(Reference) Skills that Directors are expected to demonstrate
The following table shows the composition of Board of Directors if Proposal No. 2 is approved and adopted asoriginally proposed and lists the insight, etc., that Directors are expected to demonstrate.
Skills in supervision and execution that Directors are expected to demonstrate
Governance/
Legal affairs/
Riskmanagement

Name

Position

KeiichiAshikaga

Director and Chairman○

NaozumiAshikaga

Representative
Director, President andExecutive Officer○

Tomoatsu
Esumi

Representative
Director and Senior
Managing Executive
Officer○

Hiroshi Oki

Director and Managing
Executive Officer○

YoshitakeYoshinoDirector and Executive
Officer○

Koji
Director and Executive
Fukushima Officer○○

Director and Full-time
Board Member ofNobuyoshi
Directors of
Yamamoto
Companies withcommittees

○

○

○

Director and Board
Hiroshi Member of Directors
Matsushige of Companies withcommittees (Outside)

○

○

○

Director and Board
Hidenobu Member of Directors
Matsutani of Companies withcommittees (Outside)

○

○

○

Corporate
management

Finance/
Accounting

Organization/
Personnel affairs

Marketing/Businessstrategies

Research &development/
Production/
Quality Control

IT/DX

○

○

○

○

○

○

○
○
○
○

○

○

○

○

(Note) The Company introduced a delegated executive officer system where executive officers who do not concurrently serve as
Directors support Directors’ execution of duties by demonstrating their insight, etc.

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