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: 1888
June 7, 2022
To our shareholders:
Katsuhiko Karasuda
President & Representative Director
WAKACHIKU CONSTRUCTION CO., LTD.
1-4-7, Hamamachi, Wakamatsu-ku, Kitakyushu-shi,
Fukuoka

Notice of the 206th Annual General Meeting of Shareholders
Notice is hereby given that the 206th Annual General Meeting of Shareholders of WAKACHIKUCONSTRUCTION CO., LTD. (the “Company”) will be held as described below.
From the viewpoint of preventing the spread of the novel coronavirus disease (COVID-19), with priority on yourand your family’s safety, you are asked to exercise your voting rights by electromagnetic means (internet, etc.) or inwriting in advance of this general meeting of shareholders as much as possible and to refrain from attending inperson regardless of your health condition.
Please refer to the subsequent Reference Documents for the General Meeting of Shareholders and exercise yourvoting rights by 6:00 p.m. on Tuesday, June 28, 2022 (JST).
1. Date and Time: Wednesday, June 29, 2022, at 10:00 a.m. (JST)
2. Venue:
2nd floor conference room, the Company’s Hamamachi Head Office
1-4-7, Hamamachi, Wakamatsu-ku, Kitakyushu-shi, Fukuoka
3. Purpose of the Meeting
Matters to be reported:
1. Business Report and Non-consolidated Financial Statements for the 206th fiscal year (from April 1, 2021
to March 31, 2022)
2. Consolidated Financial Statements and Audit Results of Consolidated Financial Statements by the
Financial Auditor and the Audit & Supervisory Board for the 206th fiscal year (from April 1, 2021 toMarch 31, 2022)
Matters to be resolved:
Proposal No. 1
Amendment to the Articles of Incorporation
Proposal No. 2
Election of Nine Directors
Proposal No. 3
Election of One Audit & Supervisory Board Member
4. Items Disclosed on the Internet
The following items (in Japanese only) are posted on the Company’s website on the internet in accordancewith laws and regulations and the provisions of Article 16 of the Company’s Articles of Incorporation and are
therefore not included in the attached documents of this notice.
(i) Notes to Non-consolidated Financial Statements(ii) Notes to Consolidated Financial Statements
Accordingly, the attached documents of this notice are part of the Non-consolidated Financial Statements andConsolidated Financial Statements that were audited when Audit & Supervisory Board Members prepared the
Audit Report and the Financial Auditor the Financial Audit Report.

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

If you are attending the meeting, please submit the enclosed Voting Form to the reception desk at the venue.

<Request to shareholders>‧ The above measures are subject to change depending on the COVID-19 situation by the day of the general meeting of shareholders,the content of the announcements made by the government, and other circumstances. Please check the Company’s website below
for the latest information.
‧ Shareholders attending the meeting are asked to cooperate in disinfecting their hands and wearing masks.
‧ Your temperature will be measured near the reception desk at the venue. If it is found that you have a fever or you are thought tobe in poor health, you may be refused admission and asked to leave.
‧ Layout changes will be made with priority given to preventing infection, such as increasing the distance between seats andopening doors for ventilation. Please beware that admission may be refused in the case that sufficient seats cannot be secured andall the seats are occupied.
‧ Staff of the general meeting of shareholders will be checked for their health, including temperature checks, and will be wearing
masks.
‧ From the viewpoint of shortening the meeting time in order to prevent the spread of COVID-19, the matters to be reported on thefloor (including the Audit Report) and detailed explanations of the proposals will be omitted at this meeting. You are requested toread this notice in advance.


If any amendments are made to the Reference Documents for the General Meeting of Shareholders, the Business Report, theNon-consolidated Financial Statements, and/or the Consolidated Financial Statements, they will be posted on the Company’s
website below.
The Company’s website (https://www.wakachiku.co.jp)-2-Reference Documents for the General Meeting of Shareholders
Proposal No. 1

Amendment to the Articles of Incorporation

1.

Reasons for the proposal
Since the revised provisions provided for in the proviso to Article 1 of the Supplementary Provision of the
Act Partially Amending the Companies Act (Act No. 70 of 2019) will come into effect on September 1, 2022,
which will introduce a system for providing general shareholder meeting materials in electronic format, theCompany proposes to amend its Articles of Incorporation as follows.
(1) The Company proposes to newly establish Article 16 (Measures, etc. for Providing Information inElectronic Format), paragraph 1 under proposed amendment, as the Company will be required to
stipulate in its Articles of Incorporation that measures are taken for providing information contained inreference documents for the general meeting of shareholders, etc. in electronic format.
(2) The Company proposes to newly establish Article 16 (Measures, etc. for Providing Information inElectronic Format), paragraph 2 under proposed amendment, in order to limit the scope of items
provided in the paper-based documents to be delivered to shareholders who requested their delivery to
the scope prescribed by the Ministry of Justice Order, where information contained in reference
documents for the general meeting of shareholders, etc. is provided in electronic format.
(3) The Company proposes to delete the provision of Article 16 (Internet Disclosure of Reference
Documents, Etc.) of the current Articles of Incorporation, as it will become unnecessary by the
introduction of a system for providing general shareholder meeting materials in electronic format.
(4) The Company proposes to establish supplementary provisions regarding the effective date of theaforementioned establishment and deletion of provisions. The supplementary provisions shall be deleted
after their expiration date.

2.

Details of the amendment
The details of the amendment are as follows:(Underlining indicates amendment.)
Proposed amendment

Current Articles of Incorporation
Article 16 (Internet Disclosure of Reference Documents,
Etc.)
The Company may disclose information that is to be statedor indicated in the reference documents for the general
meeting of shareholders, non-consolidated financial
statements, consolidated financial statements and/or
business report through the internet in accordance with theprovisions prescribed by the Ministry of Justice Order.

(Newly established)(Newly established)(Deleted)

Article 16 (Measures, etc. for Providing Information inElectronic Format)
1. When the Company convenes a general meeting ofshareholders, it shall take measures for providing
information contained in reference documents for thegeneral meeting of shareholders, etc. in electronic
format.
2. Among items for which the measures for providing
information in electronic format will be taken, theCompany may exclude all or some of those items
prescribed by the Ministry of Justice Order from thepaper-based documents to be delivered to shareholders
who requested their delivery by the record date ofvoting rights.
(Supplementary Provisions)
Article 1 (Transitional Measures for Providing Materials
for the General Meeting of Shareholders inElectronic Format)
1. The deletion of Article 16 (Internet Disclosure ofReference Documents, Etc.) of the pre-amended Articles
of Incorporation and the establishment of Article 16(Measures, etc. for Providing Information in Electronic
Format) of the amended Articles of Incorporation shallbe effective from September 1, 2022.

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Current Articles of Incorporation

Proposed amendment
2. Notwithstanding the provision of the preceding
paragraph, Article 16 of the pre-amended Articles ofIncorporation shall remain effective regarding any
general meeting of shareholders held on a date within
six months from September 1, 2022.
3. These Supplementary Provisions shall be deleted on thedate when six months have elapsed from September 1,
2022 or three months have elapsed from the date of thegeneral meeting of shareholders in the preceding
paragraph, whichever is later.

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Proposal No. 2

Election of Nine Directors

The terms of office of all eight Directors will expire at the conclusion of this meeting. In that regard, the Company
proposes the election of nine Directors, increasing the number of Directors by one to enhance the management
system.
The candidates for Director are as follows:
Candidate
No.

Name

Current position and responsibility

Attributes

1

Katsuhiko Karasuda

President & Representative Director, Executive President, and General
Manager of Safety and Environment Division

Reelection
Male

2

Kazumi Ishii

Representative Director, Senior Managing Executive Officer, General
Manager of Construction Business Division, and Deputy General
Manager of Safety and Environment Division

ReelectionMale

3

Hiroyuki Eshita

Director, Senior Managing Executive Officer, Officer in charge ofConstruction Business Division, in charge of Offshore Wind Power
Development Office, and in charge of Integrated System Department

Reelection
Male

4

Makoto Nakamura

Director, Managing Executive Officer, and General Manager of Business Reelection
Male
Management Division

5

Hisatoshi Makihara

Director, Managing Executive Officer, Officer in charge of Construction
Business Division, and General Manager of Civil Engineering
Department

ReelectionMale

6

Yasusuke Hirata

Director, Managing Executive Officer, in charge of Finance Department,
Business Management Division, and General Manager of Finance
Department

Reelection
Male

DirectorReelection
OutsideIndependent
Male

DirectorReelection
OutsideIndependent
Female7

8

9Yasuo Asakura

Miho Harada

New election
OutsideIndependent
Male

Hayato Morita

Reelection
New election
OutsideIndependent
Male
FemaleCandidate for Director to be reelected
Candidate for Director to be newly elected
Candidate for outside Director
Independent officer as defined by the securities exchange
Male candidate
Female candidate-5-Candidate
No.

Name (Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company
Apr. 1983
Mar. 2009
Apr. 2013
June 20131
Reelection
Male

Number of theCompany’s shares
ownedJoined the Company
General Manager of Fukuoka Branch
General Manager of Kyushu Branch
Executive Officer and General Manager ofKyushu Branch
June 2015
Managing Executive Officer, General Manager
of Hamamachi Head Office, and General
Manager of Kyushu Branch
June 2016
Director, Managing Executive Officer, General
Manager of Hamamachi Head Office, andGeneral Manager of Kyushu Branch
Apr. 2017
Director, Managing Executive Officer, andOfficer in charge of Construction Business
Division
Katsuhiko Karasuda
June 2019
Director, Senior Managing Executive Officer,
8,200(August 25, 1958)
and Officer in charge of Construction Business
Division
Apr. 2020
Director, Senior Managing Executive Officer,
General Manager of Construction Business
Division, and Deputy General Manager of
Safety and Environment Division
June 2020
Representative Director, Senior Managing
Executive Officer, General Manager ofConstruction Business Division, and Deputy
General Manager of Safety and Environment
Division
Apr. 2021
President & Representative Director,
Executive President, and General Manager of
Safety and Environment Division (current
position)[Reasons for nomination as candidate for Director]
Mr. Karasuda has been engaged with the Company’s civil engineering and construction department and sales
department for many years in the Kyushu area and has extensive experience and achievements. He has been involvedin management as Director of the Company since 2016, and was appointed as President & Representative Director in
April 2021. Since he has a high level of discernment and ability to appropriately supervise and make decisions
regarding the overall management of the Company group (the “Group”), he is renominated as a candidate for
Director.

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Candidate
No.

Name (Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company
Apr. 1982
Apr. 2013
June 20132
Reelection
Male

Number of theCompany’s shares
ownedJoined the Company
General Manager of Nagoya Branch
Executive Officer and General Manager ofNagoya Branch
Apr. 2016
Executive Officer and General Manager ofTokyo Branch
June 2016
Director, Managing Executive Officer, andKazumi Ishii
7,900
General Manager of Tokyo Branch(November 8, 1959)
June 2019
Director, Senior Managing Executive Officer,
and General Manager of Tokyo Branch
Apr. 2021
Representative Director, Senior Managing
Executive Officer, General Manager ofConstruction Business Division, and Deputy
General Manager of Safety and Environment
Division (current position)[Reasons for nomination as candidate for Director]
Mr. Ishii has extensive experience and achievements in the Company’s civil engineering and construction department
and sales department. In addition, he has served as General Manager of the Company’s Nagoya Branch from 2013
and General Manager of the Company’s Tokyo Branch from 2016, and has been involved in management as Directorof the Company since June 2016. Since he has a high level of discernment and ability, he is renominated as a
candidate for Director.

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Candidate
No.

Name (Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company
Apr. 1982
Apr. 20123
Reelection
Male

Number of theCompany’s shares
ownedJoined the Company
Deputy General Manager of Kyushu Branchand General Manager of Sales Department
Oct. 2013
General Manager of Sales Department andGeneral Manager of Development and Real
Estate Department, Construction Business
Division
Apr. 2014
General Manager of Development and Real
Estate Department, Construction Business
Division
June 2016
Executive Officer, Officer in charge ofConstruction Business Division, and General
Manager of Sales Planning Department
June 2018
Director, Managing Executive Officer, Officer
in charge of Construction Business Division,and General Manager of Sales Planning
Department
Hiroyuki Eshita
5,400
Apr. 2019
Director, Managing Executive Officer, and(April 5, 1958)
Officer in charge of Construction Business
Division
June 2019
Director, Managing Executive Officer, Officer
in charge of Construction Business Division,and in charge of Integrated System
Department
Dec. 2020
Director, Managing Executive Officer, Officer
in charge of Construction Business Division,in charge of Offshore Wind Power
Development Office, and in charge of
Integrated System Department
Apr. 2021
Director, Senior Managing Executive Officer,
Officer in charge of Construction Business
Division, in charge of Offshore Wind Power
Development Office, and in charge of
Integrated System Department (current
position)[Reasons for nomination as candidate for Director]
Mr. Eshita has been engaged with the Company’s sales department for many years in the Kyushu area and has
extensive experience and achievements. He was appointed Executive Officer and officer in charge of theConstruction Business Division in 2016, and has been involved in management as Director of the Company since
2018. Since he has a high level of discernment and ability, he is renominated as a candidate for Director.

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Candidate
No.

Name (Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company
Apr. 1983
Apr. 20124
Reelection
Male

Number of theCompany’s shares
ownedJoined the Company
General Manager of General Affairs andHuman Resources Department, Management
Division
July 2012
General Manager of General Affairs andHuman Resources Department and General
Manager of Corporate Planning Department,
Management Division
Apr. 2014
General Manager of Corporate Planning
Department
June 2015
Director, Executive Officer, in charge ofCorporate Planning Department, and General
Manager of Corporate Planning Department
June 2016
Director, Executive Officer, General Manager
of Management Division, in charge ofCorporate Planning Department, and General
Manager of Corporate Planning Department
June 2017
Director of AuBEX CORPORATION (current
Makoto Nakamura
position)
6,400(November 10, 1960)
June 2018
Director, Managing Executive Officer, General
Manager of Management Division, in chargeof Corporate Planning Department, andGeneral Manager of Corporate Planning
Department of the Company
Apr. 2020
Director, Managing Executive Officer, General
Manager of Business Management Division,and in charge of Corporate Planning
Department
Apr. 2021
Director, Managing Executive Officer, General
Manager of Business Management Division,in charge of General Affairs Department, incharge of Human Resources Department, andin charge of Corporate Planning Department
Apr. 2022
Director, Managing Executive Officer, andGeneral Manager of Business Management
Division (current position)(Significant concurrent positions outside the Company)
Director of AuBEX CORPORATION[Reasons for nomination as candidate for Director]
Mr. Nakamura has served in the Company’s general affairs department and corporate planning department for many
years, and has extensive experience and achievements in management decisions and business strategies for theCompany and the Group’s businesses as a whole. In addition, he has been involved in management as Director of theCompany since 2015. Since he has a high level of discernment and ability, he is renominated as a candidate for
Director.

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Candidate
No.

Name (Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company
Apr. 1986
Apr. 2014

5
ReelectionMale

6
Reelection
Male

Number of theCompany’s shares
ownedJoined the Company
Assistant General Manager of Nagoya Branchand Supervising General Manager of Nagoya
Sales Office
Apr. 2016
Deputy General Manager of Nagoya Branch
Apr. 2017
General Manager of Civil Engineering
Department, Construction Business Division
June 2018
Executive Officer, Officer in charge of
Hisatoshi Makihara
Construction Business Division, and General
4,000(March 20, 1962)
Manager of Civil Engineering Department
Apr. 2020
Managing Executive Officer, Officer in chargeof Construction Business Division, andGeneral Manager of Civil Engineering
Department
June 2020
Director, Managing Executive Officer, Officer
in charge of Construction Business Division,and General Manager of Civil Engineering
Department (current position)[Reasons for nomination as candidate for Director]
Mr. Makihara has been engaged with the Company’s civil engineering department for many years in the Chubu area.
He has extensive experience and achievements, coupled with close familiarity with on-site work, as well as a highlevel of expertise. He was appointed Executive Officer and officer in charge of the Construction Business Division in
2018, and has been involved in management as Director of the Company since 2020. Since he has a high level ofdiscernment and ability, he is renominated as a candidate for Director.
Apr. 1983
Joined the Company
Apr. 2007
Assistant General Manager of Accounting
Department and Manager of Finance Section
Oct. 2009
Assistant General Manager of Kyushu Branchand General Manager of Management
Department
Apr. 2013
General Manager of Finance Department,
Management Division
Apr. 2014
General Manager of Finance Department,
Management Division
Yasusuke Hirata
3,500
June 2016
Executive Officer, in charge of Finance(September 21, 1959)
Department, Management Division, andGeneral Manager of Finance Department
Apr. 2021
Managing Executive Officer, in charge ofFinance Department, Business Management
Division, and General Manager of Finance
Department
June 2021
Director, Managing Executive Officer, incharge of Finance Department, Business
Management Division, and General Manager
of Finance Department (current position)[Reasons for nomination as candidate for Director]
Mr. Hirata has been engaged with the Company’s finance department and management department for many years.
He has extensive experience and achievements in those fields as well as a high level of expertise in finance andaccounting. He was appointed Executive Officer and officer in charge of the Finance Department, Management
Division in 2016, and has been involved in management as Director of the Company since 2021. Since he has a highlevel of discernment and ability, he is renominated as a candidate for Director.

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Candidate
No.

Name (Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company
Apr. 1981

Number of theCompany’s shares
owned

Teaching Associate of Faculty of Engineering,
Kyoto University
Apr. 1988
Lecturer of Faculty of Engineering, Ehime
University
Mar. 1991
Visiting Scholar of University of London, theUK
Apr. 1991
Assistant Professor of Faculty of Engineering,
Ehime University
Yasuo Asakura
Apr. 1998
Professor
2,200(November 18, 1956)
Apr. 2002
Professor of Kobe University Graduate School
7
Jan. 2011
Professor of Tokyo Institute of Technology
Reelection
Graduate School
OutsideApr. 2016
Professor of Tokyo Institute of Technology
Independent
June 2016
Outside Director of the Company (current
Maleposition)
Apr. 2022
Professor Emeritus of Tokyo Institute ofTechnology (current position)[Reasons for nomination as candidate for outside Director and summary of expected role]
Mr. Asakura has deep academic knowledge and broad discernment in the fields of traffic engineering and national
land planning, which are relevant to the management of the Company. He is renominated as a candidate for outside
Director with the expectation that he will provide advice and recommendations on the Company’s overallmanagement from an objective standpoint in order to improve the supervisory function and transparency ofmanagement. If he is elected, he will be involved from an objective and neutral position in the appointment ofcandidates for Company officers and decisions on officer remuneration and other matters as a member of theNomination and Remuneration Advisory Committee.
Mar. 1987
Registered as a shiho-shoshi (solicitor)
Apr. 1988
Joined Harada Shiho-shoshi Joint Office(current position)
Apr. 2003
Civil conciliation commissioner, Kokura
Summary Court (current position)
Oct. 2014
Domestic relations conciliation commissioner,
Kokura Branch, Fukuoka Family Court
Miho Harada(current position)
1,300(June 28, 1961)
June 2020
Outside Director of the Company (current
8
position)
Reelection(Significant concurrent positions outside the Company)
OutsideHarada Shiho-shoshi Joint Office
Independent
Civil conciliation commissioner, Kokura Summary Court
FemaleDomestic relations conciliation commissioner, Kokura Branch,
Fukuoka Family Court[Reasons for nomination as candidate for outside Director and summary of expected role]Ms. Harada has broad knowledge and sufficient discernment in all aspects of legal affairs as a shiho-shoshi(solicitor). She is renominated as a candidate for outside Director with the expectation that she will provide
appropriate advice and recommendations from the perspective of legal compliance in order to improve thesupervisory function and transparency of management. If she is elected, she will be involved from an objective andneutral position in the appointment of candidates for Company officers and decisions on officer remuneration andother matters as a member of the Nomination and Remuneration Advisory Committee.

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Candidate
No.

Name (Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company
Apr. 2000
Apr. 2001
Jan. 2002
Mar. 2007

Number of theCompany’s shares
ownedJoined Shabondama Soap Co., Ltd.
Director
Director and Vice President
President and Representative Director (current
position)
June 2021
Outside Director of The Kitakyushu Bank,
Hayato Morita–
Ltd. (Audit & Supervisory Committee(August 13, 1976)
Member) (current position)
9(Significant concurrent positions outside the Company)
New election
President and Representative Director of Shabondama Soap
OutsideCo., Ltd.
Independent
Outside Director of The Kitakyushu Bank, Ltd. (Audit &MaleSupervisory Committee Member)[Reasons for nomination as candidate for outside Director and summary of expected role]
Mr. Morita has extensive experience and broad knowledge as a manager of a company. He is expected to provide
advice and recommendations on the Company’s overall management from an objective standpoint in order toimprove the supervisory function and transparency of management. The company he heads carries out
environmentally friendly businesses. He is nominated as a candidate for outside Director based on our judgment that
he is necessary for strengthening the Company’s SDGs efforts. If he is elected, he will be involved from an objective
and neutral position in the appointment of candidates for Company officers and decisions on officer remunerationand other matters as a member of the Nomination and Remuneration Advisory Committee.
Notes: 1. There is no special interest between any of the candidates and the Company.
2. Yasuo Asakura, Miho Harada and Hayato Morita are candidates for outside Director.
3. The Company has entered into limited liability agreements with Mr. Asakura and Ms. Harada that limit their liability fordamages under Article 423, paragraph (1) of the Companies Act to the amount provided for in laws and regulations,pursuant to the provisions of the Articles of Incorporation of the Company and Article 427, paragraph (1) of the same
Act. If the election of the two is approved, the Company plans to renew the same limited liability agreements with them.
If the election of Mr. Morita is approved, the Company plans to enter into the same limited liability agreement with him.
4. The Company has submitted notification to the Tokyo Stock Exchange that Mr. Asakura and Ms. Harada have been
designated as independent officers as provided for by the aforementioned exchange. If the election of the two is
approved, the Company plans for their designation as independent officers to continue. Mr. Morita satisfies therequirements for an independent officer as provided for by the Tokyo Stock Exchange, and the Company plans to submit
notification concerning his designation as an independent officer.
5. Mr. Asakura and Ms. Harada are currently outside Directors of the Company. At the conclusion of this meeting, theirtenures as outside Directors will have been six years for Mr. Asakura and two years for Ms. Harada.
6. The Company has entered into a directors and officers liability insurance agreement stipulated in Article 430-3,
paragraph (1) of the Companies Act with an insurance company. The details of the insurance agreement are assummarized on page 22 of the Business Report (in Japanese only). If the election of the candidates for Director isapproved, they will be insured under the insurance agreement. The Company plans to renew the insurance agreement inJuly 2022.

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Reference: If Proposal No. 2 is approved and adopted, the skills held by the Directors will be as follows.

Name

Corporate
strategy /Management
strategy

Construction
technology

Real estatedevelopment

Sales strategy(Marketing)

Financialaccounting /Legal affairs

Katsuhiko○○○
Karasuda
Kazumi○○○
Ishii
Hiroyuki○○○
EshitaMakoto○○○Nakamura
Hisatoshi○○○
Makihara
Yasusuke○○
HirataYasuo○
AsakuraMiho○
HaradaHayato○○Morita*The above table is not a comprehensive list of the knowledge, experience and abilities of the Directors.

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Globaldiversity
○
○
○
○

○
○
○

Proposal No. 3

Election of One Audit & Supervisory Board Member

The term of office of Audit & Supervisory Board Member Masao Morimoto will expire at the conclusion of thismeeting. Therefore, the Company proposes the election of one Audit & Supervisory Board Member.
In addition, the consent of the Audit & Supervisory Board has been obtained for this proposal.
The candidate for Audit & Supervisory Board Member is as follows:
Name (Date of birth)

Career summary, position in the Company, and significant concurrent
positions outside the Company
Apr. 1984
June 2011
June 2012
June 2013

Number of theCompany’s shares
ownedJoined The Chiba Bank, Ltd.
General Manager of Abiko Branch
General Manager of Business Planning Division
Executive Officer and General Manager of Business
Planning Division
June 2014
Director and Managing Executive Officer
June 2016
Director and Senior Executive Officer
Kenichi Sawai(July 25, 1961)
June 2018
Director and President of Toho Jisho Co., Ltd.
–New election
June 2020
Advisor of the Company
OutsideJune 2020
Representative Director of Narita International
Male
Medical City Organization
July 2020
Counselor of International University of Health andWelfareJune 2021
Director and Chairman of Sobu Co., Ltd. (current
position)(Significant concurrent positions outside the Company)
Director and Chairman of Sobu Co., Ltd.
[Reasons for nomination as candidate for outside Audit & Supervisory Board Member]
Mr. Sawai has many years of experience at financial institutions and broad discernment cultivated as Director. He is nominated as a
candidate for outside Audit & Supervisory Board Member for the purpose of conducting audits from an objective and neutral
position based on his experience and discernment.
Notes: 1. There is no special interest between the candidate and the Company.
2. Kenichi Sawai is a candidate for outside Audit & Supervisory Board Member.
3. If the election of Mr. Sawai is approved, the Company plans to enter into a limited liability agreement with him that
limits his liability for damages under Article 423, paragraph (1) of the Companies Act to the amount provided for inlaws and regulations, pursuant to the provisions of the Articles of Incorporation of the Company and Article 427,
paragraph (1) of the same Act.
4. The Company has entered into a directors and officers liability insurance agreement stipulated in Article 430-3,
paragraph (1) of the Companies Act with an insurance company. The details of the insurance agreement are assummarized on page 22 of the Business Report (in Japanese only). If the election of the candidate for Audit &Supervisory Board Member is approved, he will be insured under the insurance agreement. The Company plans torenew the insurance agreement in July 2022.

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