May 13, 2022

For Immediate Release
Ryosan Company, Limited
Representative: Kazuhiko Inaba
Representative Director, President
Listing Code No.: 8140
Listing: Prime Market, Tokyo Stock Exchange
Inquiries: Norihiko Takahashi
Executive Officer
General Manager, Corporate Planning
Headquarters
TEL: +81-3-3862-3816

Notice Concerning Partial Revision of Articles of Incorporation
Ryosan Company, Limited (“the Company”) hereby provides notice that the Company resolved, at today’s
meeting of the Board of Directors, to present a motion for the partial revision of the Articles of Incorporation, atthe 66th Ordinary General Shareholders’ Meeting scheduled for June 24, 2022,

1. Purpose of Revision of the Articles of Incorporation
On September 1, 2022, the amending provisions stipulated in the Proviso of Article 1 of the Supplementary
Provisions of the Act Partially Amending the Companies Act (Law No. 70, 2019) will go into force. In
tandem with this enforcement, the Company is revising its Articles of Incorporation to prepare for theintroduction of systems for the electronic provision of materials related to the General Shareholders’Meetings, as follows.
(1) The Company will be required to stipulate in its Articles of Incorporation measures for the electronic
provision of the information contained in reference documents, etc. related to the General Shareholders’Meetings. As such, the Company wishes to establish a new Paragraph 1, Article 17 (Measures forElectronic Provision, etc.) in the Articles of Incorporation.
(2) In the items related to measures for electronic provision of information contained in reference
documents, etc. related to the General Shareholders’ Meetings, the Company wishes, when shareholders
request written documents, to limit the scope of items that may be listed in said written documents to thescope stipulated by the Ordinance of the Ministry of Justice. For this purpose, the Company wishes toestablish a new Paragraph 2, Article 17 (Measures for Electronic Provision, etc.) in the Articles ofIncorporation.
(3) In tandem with the introduction of systems for the electronic provision of materials related to theGeneral Shareholders’ Meetings, the Company wishes to delete from the Articles of Incorporation thecurrent Article 17 (Online Disclosure and Deemed Provision of Reference Documents, etc. for General
Shareholders’ Meetings), as it is no longer necessary.
(4) In addition to the additions and deletions above, the Company wishes to append a Supplementary
Provision regarding the date of enforcement of these changes and related matters. This Supplementary
Provision will be deleted later, after some time has passed.
12. Details of Changes to the Articles of Incorporation
The details of changes to the Articles of Incorporation are as follows.
(Underlined text indicates changes.)

Current Articles of Incorporation

Proposed Changes(Online Disclosure and Deemed Provision ofReference Documents, etc. for General
Shareholders’ Meetings)
Article 17 When convening the General
Shareholders’ Meetings, the Company shallDeletion

provide online disclosure of information on
items listed or indicated in the General
Shareholders reference documents, business
reports and financial statements(non-consolidated and consolidated) inaccordance with the Ordinances of the Ministryof Justice. In so doing, the Company may bedeemed to have provided said information toshareholders.
(Measures for Electronic Provision, etc.)
Article 17

When convening the General

Shareholders’ Meetings, the Company shall takeNew addition

measures to disclose electronically theinformation contained in the General
Shareholders’ Meeting reference documents, etc.
2The Company may choose not to provide toshareholders in writing some or all of the items
subject to electronic disclosure that are stipulatedby Ordinance of the Ministry of Justice, even if ashareholder requests said disclosure in writing by
the record date of voting.

Supplementary Provision

Supplementary Provision(Transitional Measures to Waive the(Transitional Measures to Waive theResponsibilities of Statutory Auditors)

Responsibilities of Statutory Auditors)
Article 1(Unchanged)(Text omitted)(Transitional Online Disclosure and Deemed
Provision of Reference Documents, etc. for General2

Shareholders’ Meetings)
Article 2
New addition

The deletion of the current Article 17 ofthe Articles of Incorporation (Online Disclosureand Deemed Provision of Reference Documents,etc. for General Shareholders’ Meetings) and new
addition of the proposed change of Article 17(Measures for Electronic Provision, etc.) shallcome into force on September 1, 2022.
2

Notwithstanding Paragraph 1 above, the current
Article 17 of the Articles of Incorporation shallremain in force for all General Shareholders’Meetings convened on dates up to and including
February 28, 2023.

3This Article shall be deleted on March 1, 2023
or the date three months from the date of theGeneral Shareholders’ Meeting described inArticle 2 above, whichever is later.

3. Scheduled Date
Date of the Ordinary General Shareholders’ Meeting to change the Articles of Incorporation

June 24, 2022

Date on which the changed Articles of Incorporation come into force

June 24, 2022

3