April 27, 2023
Name of Company

K A G A E L E C T R O N I C S C O . , LT D .

Representative

Ryoichi Kado,
Representative Director, President & COO(Stock Code: 8154 Tokyo Stock Exchange, Prime Market)
Contact

Yasuhiro Ishihara,
Senior Executive Officer
Head of Administration Headquarters
Tel: +81-(0)3-5657-0111

Notice Concerning Partial Amendment of Articles of Incorporation
KAGA ELECTRONICS CO., LTD., hereby announces that the Board of Directors adopted a resolution
on today to submit a proposal for partial amendment of the Articles of Incorporation to the 55thOrdinary General Meeting of Shareholders scheduled for June 27, 2023.
1. Reasons for the Amendments(1)
The current Article 15 (Convenor and Chairperson) of the Articles of Incorporation willbe amended to enable flexible and agile response regarding the administration ofshareholdersʼ meetings.
(2)

The current Chapter 4 (Directors and Board of Directors), Article 21 (Term of Office ofDirectors), Article 22 (Representative Directors and Directors with Management
Responsibilities), and Article 23 (Executive Officers) will be amended for the purposeof speeding up management decision-making and enhancing oversight of the board ofdirectors by separating management decision-making and oversight and executivefunctions, clarifying directorsʼ managerial responsibilities and building a system that isable to respond swiftly to changes in business conditions, and achieving flexible
business execution.

(3)

The current Article 24 (Convenor and Chairperson of Board of Directors) of the Articles
of Incorporation will be amended to enable flexible and agile response regarding theadministration of board of directors meetings.

2. Details of the Amendments
The details of the amendments are set forth in the attachment.
3. Details of the Amendments
Date of general shareholders meeting for amending the Articles of Incorporation:
June 27, 2023 (scheduled)
Effective date of amendments to the Articles of Incorporation: June 27, 2023 (scheduled)-1-Attachment
Underlined text indicates changes
Current Articles of Incorporation

Proposed Amendments

Article 15 (Convenor and Chairperson)

Article 15（Convenor and Chairperson）

Unless otherwise provided for in

Unless otherwise provided for inapplicable laws and regulations, theapplicable laws and regulations, thepresident and representative director

director determined in advance by theshall call and preside over shareholdersʼboard of directors shall call andmeetings.

preside over shareholdersʼ meetings.

２ In the event that the president and２ In the event that said director is not

representative director are not able toable to attend the meeting due toattend the meeting due to an accident

an accident or any otheror any other unavoidable

unavoidable circumstances, anothercircumstances, another director

director appointed in the orderappointed in the order prescribed byprescribed by the board of directors

the board of directors shall call andshall call and preside over thepreside over the meeting

meeting.

Chapter 4. Directors and Board of Directors

Chapter 4. Directors, Board of Directors, andExecutive Officers

Article 21 (Term of Directors)

２

Article 21 (Term of Directors)

The term of directors shall continue

The term of directors shall continue

until the conclusion of the annual

until the conclusion of the annual

shareholdersʼ meeting for the lastshareholdersʼ meeting for the lastbusiness year which ends within two

business year which ends within one(2) years from the time of their(1) year from the time of theirelection.

election.
[Omitted]２[No change]

Article 22（Representative Directors）

Article 22 (Representative Directors andDirectors with Management
Responsibilities)[Omitted][No change]

２ The board of directors may, by[Deleted]resolution, appoint one (1) president
and representative director, thechairperson of the board, vicechairperson of the board, executive
vice president and director, senior
executive director, managing director,
and a small number of otherexecutive directors.

-2-Current Articles of Incorporation

Proposed Amendments

Article 23 (Executive Officers)

Article 23 (Executive Officers)[Omitted][No change][New]

２ The board of directors may, byresolution, appoint the Founder &CEO, President & COO, senior
managing executive officers,managing executive officers, senior
executive officers, and a small
number of other executive officers.

Article 24 (Convenor and Chairperson ofArticle 24 (Convenor and Chairperson ofBoard of Directors)

Board of Directors)

Unless otherwise provided for in

Unless otherwise provided for inapplicable laws and regulations, theapplicable laws and regulations, thepresident and representative director

director determined in advance byshall call and preside over the board

the board of directors shall call andof directors meetings.

preside over the board of directors
meetings.

２ In the event that the president and２ In the event that said director is not

representative director is unable toable to attend the meeting due toattend the meeting due to an accident

an accident or any otheror any other unavoidable

unavoidable circumstances, anothercircumstances, another director

director appointed in the orderappointed in the order prescribed byprescribed by the board of directors

the board of directors shall call andshall call and preside over thepreside over the meeting.

meeting.

-3-