This document has been translated from the Japanese original for reference purposes only. In the event ofany discrepancy between this translated document and the Japanese original, the original shall prevail. The
Company assumes no responsibility for this translation or for direct, indirect or any other forms of damage
arising from the translation.

Securities code: 2484
November 14, 2022
To Shareholders with Voting Rights:

Hideo Fujii,
President & CEO
Demae-can Co., Ltd.
5-27-5 Sendagaya, Shibuya-ku,
Tokyo

NOTICE OF
THE 23RD ANNUAL GENERAL MEETING OF SHAREHOLDERS
We would like to express our sincere gratitude for your continued support and patronage.
Please be informed that the 23rd Annual General Meeting of Shareholders of Demae-can Co., Ltd. (the“Company”) will be held as described below.
This General Meeting will be one convened without a designated physical venue (“virtual-only
general meeting of shareholders”), based on Article 12, Paragraph 2 of the Articles ofIncorporation, Article 66, Paragraph 1 of the Act for Partially Amending the Industrial
Competitiveness Enhancement Act and Other Related Acts (Act No. 70 of 2021), and theMinisterial Ordinance on General Meetings of Shareholders without a Fixed Place based on theamended Industrial Competitiveness Enhancement Act (Ordinance No. 1 of 2021, Ministry ofJustice and the Ministry of Economy, Trade and Industry). Please attend this General Meeting
online, as there will be no venue for shareholders to actually attend. For details on the website
URL, access, and steps for attending, please refer to the Holding of a Virtual-only General Meetingof Shareholders starting from page 5 of this Notice (available on the Japanese version).
If you are unable to attend the meeting, or in preparation for a network outage or other reason if
you do plan to attend the meeting, you may exercise your voting rights in writing or via theInternet, and are requested to exercise your voting in advance using these methods. If you exercise
your voting rights in advance in writing or via the Internet, please review the following Reference
Documents for the General Meeting of Shareholders and exercise your voting rights by 6:30 p.m.
on Monday, November 28, 2022.
1. Date and Time:

Tuesday, November 29, 2022, at 10:00 a.m. Japan time
*Login is scheduled to be available from 9:30 a.m. on the day of the general
meeting)*If this General Meeting of Shareholders cannot be held on the above date
due to network outage or other reasons, the meeting will be held on
Wednesday, November 30, 2022, at 10:00 a.m. Japan time. If it is decided tohold the meeting on this alternate date, this information will be posted on the
Company’s website (https://corporate.demae-can.com/en/) promptly.
2. Method of convening: Virtual-only general meeting of shareholders (general shareholders meeting
without a designated physical venue)*This general meeting will be convened only on the Internet without any
venue for shareholders to actually attend. Please attend via the Company’s
designated website. For details on the website URL, access, and steps forattending this general meeting, please refer to the Holding of a Virtual-only
General Meeting of Shareholders starting from page 5 of this Notice(available on the Japanese version).
3. Meeting Agenda:
Matters to be reported:1. The Business Report and Consolidated Financial Statements for theCompany’s 23rd Fiscal Year (September 1, 2021 to August 31, 2022)
and results of audits of the Consolidated Financial Statements by the-1-Accounting Auditor and the Audit & Supervisory Board
2. Non-consolidated Financial Statements for the Company’s 23rd Fiscal
Year (September 1, 2021 to August 31, 2022)
Proposals to be resolved:
Partial Amendments to the Articles of Incorporation
Proposal 1:
Election of Six Directors
Proposal 2:
Reduction of the Amount of Capital Reserve and Appropriation of Surplus
Proposal 3:
4. Other Matters Related to the Meeting:(1) Information in the proceedings of this general meeting will be transmitted via the Internet.
(2) Communications equipment and all expenses necessary for attending this General Meetingof Shareholders are the responsibility of the shareholders.
(3) If a shareholder who has exercised their voting rights in advance in writing or via theInternet attends this General Meeting of Shareholders and votes again, the last vote cast at
the meeting will be deemed valid. If a shareholder exercises their voting rights in advanceand then attends the virtual-only General Meeting of Shareholders, but the Company cannot
confirm the exercise of voting rights at the meeting, the vote cast in advance in writing or
via the Internet will be deemed valid in order to reflect the opinions of as many shareholders
as possible in the voting results.
(4) If a shareholder exercises their voting rights in advance in writing and via the Internet, thevote cast via the Internet will be deemed valid.
(5) If a shareholder exercises their voting rights in advance multiple times via the Internet, thefinal vote cast will be deemed valid.
(6) If a shareholder does not exercise their voting rights in advance in writing or via the Internet
and attends the virtual-only General Meeting of Shareholders, but the Company cannot
confirm the exercise of voting rights at the meeting, the vote will be deemed as an
abstention.
(7) If a network outage or other significant interruption of communication occurs, thechairperson shall be allowed the discretion to decide to postpone or adjourn the meetingthrough a resolution at the start of the meeting. Based on the said resolution, if thechairperson decides to postpone or adjourn, a postponed or adjourned meeting will be
convened on Wednesday, November 30, 2022 at 10 a.m. Japan time. Shareholders will be
notified of this promptly on our website (https://corporate.demae-can.com/en/). Pleaseattend the postponed or adjourned meeting by following the procedures in “Holding of a
Virtual-only General Meeting of Shareholders” starting from page 5 of this Notice (available
on the Japanese version).
(8) Depending on the settings of your communication equipment, network outages or otherproblems may arise, including distortions or temporary interruptions in video and/or audio.
We will not be responsible for any disadvantages suffered by shareholders in attendance atthis General Meeting due to such communication problems or other reasons.
(9) We have prepared an exclusive website that shareholders can access from smartphones inorder to facilitate attendance at the virtual-only General Meeting of Shareholders, and weare striving to make this more convenient, but we recommend that shareholders who havedifficulty attending via this website exercise their voting rights in advance in writing.
(10) Shareholders who wish to attend by proxy should designate one other shareholder, who also
holds voting rights, in accordance with the provisions of laws and regulations and the Articles
of Incorporation. For procedural details, please see “Holding of a Virtual-only General
Meeting of Shareholders” starting from page 5 of this Notice (available on the Japaneseversion).

◎ In accordance with laws and regulations, and Article 15 of the Articles of Incorporation, Systems
Established to Ensure the Appropriateness of Operations and the Operational Status Thereof, the Basic
Policy Regarding Persons who Control Decisions on the Company’s Financial and Business Policies,
and Policy Regarding Decisions on Dividends of Surplus, Etc. in the Business Report, Notes toConsolidated Financial Statements, and Notes to Non-Consolidated Financial Statements are available
on the Company’s website (https://corporate.demae-can.com/en/), and therefore are not included in the-2-documents attached to this Notice. Accordingly, the documents attached to this Notice constitute partof the documents audited by the Audit & Supervisory Board and the Accounting Auditor upon
preparing an audit report.
◎ If revisions are made to the Reference Documents for the General Meeting of Shareholders, Business
Report, Non-Consolidated Financial Statements, or Consolidated Financial Statements, the revised
content will be posted on the Company’s website (https://corporate.demae-can.com/en/).
◎ The Notice of Resolutions for the General Meeting of Shareholders will be posted on the Company’s
website (https://corporate.demae-can.com/en/) instead of being sent directly to shareholders in writing.

-3-

Reference Documents for the General Meeting of Shareholders
Proposal 1: Partial Amendments to the Articles of Incorporation
1. Reasons for the proposal
The amended provisions stipulated in the proviso of Article 1 of the supplementary provisions of
the “Act Partially Amending the Companies Act” (Act No. 70 of 2019) were enforced on
September 1, 2022. Accordingly, the Company proposes to newly establish a provision that
information contained in the reference documents for the general meeting of shareholders,etc. shall be provided electronically and a provision to limit the scope of matters to be
included in the paper copy to be sent to shareholders who have requested it, to delete theprovisions related to internet disclosure and deemed provision of the reference documents forthe general meeting of shareholders, etc., and to establish supplementary provisions related tothe transitional measures, etc.
(1)

The proposed Article 15, Paragraph 1 provides that information contained in the reference
documents for the general meeting of shareholders, etc. shall be provided electronically.

(2)

The purpose of the proposed Article 15, Paragraph 2 is to establish a provision to limit thescope of matters to be included in the paper copy to be sent to shareholders who haverequested it.

(3)

The provisions related to the internet disclosure and deemed provision of the reference
documents for the general meeting of shareholders, etc. (Article 15 of the current Articles
of Incorporation) will become unnecessary and will therefore be deleted.

(4)

In line with the above deletion of the provisions, supplementary provisions shall beestablished.

-4-

2. Details of the changes
The following changes are proposed.

Current Articles of Incorporation[Internet Disclosure and Deemed Provision ofReference Documents for the General Meeting of
Shareholders, Etc.]
Article 15
The Company may, when convening a general
meeting of shareholders, deem that it has
provided information to shareholders pertaining
to matters to be described or indicated in thereference documents for the general meeting ofshareholders, business report, non-consolidated
financial statements, and consolidated financial
statements, by disclosing such information
through the Internet in accordance with theprovisions provided in the ordinance of the
Ministry of Justice.

(Deleted)(Changes are underlined.)
Proposed Amendments(New article)[Measures for Electronic Provision, Etc.]
Article 15
The Company shall, when convening a general
meeting of shareholders, provide information
contained in the reference documents for thegeneral meeting of shareholders, etc.
electronically.
(2) Among the matters to be provided
electronically, the Company may choose not toinclude all or part of the matters stipulated in
the ordinance of the Ministry of Justice in thepaper copy to be sent to shareholders who
have requested it by the record date for voting
rights.

(New article)

Supplementary provisions(1) Notwithstanding the provisions of the
proposed Article 15 (Measures for Electronic
Provision, Etc.), Article 15 of the current
Articles of Incorporation (Internet Disclosure
and Deemed Provision of Reference
Documents for the General Meeting of
Shareholders, Etc.) shall remain in force withrespect to a general meeting of shareholders tobe held on or before February 28, 2023.
(2) These supplementary provisions shall bedeleted after March 1, 2023 or the lapse of
three months from the date of the general
meeting of shareholders set forth in thepreceding paragraph, whichever is later.

-5-

Proposal 2: Election of Six Directors
The terms of office of all five incumbent Directors will expire as of the conclusion of the General
Meeting of Shareholders. Accordingly, in order to strengthen the management system, the Company
proposes the addition of one Director and that six Directors be appointed.
In selecting the Director candidates, the Company consulted with and received reports from theNomination Advisory Committee, which is comprised of independent officers and chaired by a Director
who is an independent officer.
The candidates for Director are as follows.
Number of
Name
Career summary and positions and responsibilities at the Company
No.
shares of the(significant concurrent positions)(Date of birth)Company held
Joined Rakuten, Inc.
June 2006
Manager of Merchant Strategy Group, Planning
May 2011
Division, Rakuten, Inc.
May 2012
Manager of Food and Drink Strategy Group,
Planning Division, Rakuten, Inc.
Hideo Fujii
Manager of International Research Strategy Group,(November 1, 1976) March 2014
International Division, Rakuten, Inc.
May 2015
Director, Rakuten Mart, Inc.
[Reappointment]
October 2016
Joined LINE Corporation
107,000
May 2017
Executive Officer, LINE Corporation
Term of officeDirector,theCompany
November 2017
2 years and 5 months
August 2018
Director, Venture Republic Inc.
(as of the end of the
1
February 2019
Executive Officer and CEO of O2O Company,
General Meeting ofLINE Corporation
Shareholders)June 2020
President & CEO, the Company (current position)
October 2020
Director, Japan Food Delivery Co., Ltd. (current
position)
March 2021
Director, Japan Food Delivery Service Association(JaFDA) (current position)[Reasons for nomination as candidate for Director]
Mr. Hideo Fujii has been President & CEO of the Company since June 2020. Along with his track record inleading the Company, he possesses management experience, strong insight and judgment. We believe he can be
expected to contribute to further raising the corporate value of the Group, and therefore request that he bereappointed as a Director.

-6-

No.

Name
(Date of birth)

Career summary and positions and responsibilities at the Company(significant concurrent positions)
July 2000
June 2013
May 2016
January 2019
January 2021

2

3

Joined JPMorgan Securities Japan Co., Ltd.
Joined Intel Kabushiki Kaisha
Satoshi Yano
Joined LINE Corporation(April 26, 1978)
Executive Officer, LINE Corporation
Operating Officer & CFO, the Company (current[New Appointment]
position)
May 2021
Director, Demae-can communications Co., Ltd.
(current position)[Reasons for nomination as candidate for Director]

Number ofshares of theCompany held

77,510Mr. Satoshi Yano possesses extensive expertise and insight in areas including financial affairs, investment
development, and investor relations. He has linked the Board of Directors and the execution side as Operating
Officer & CFO, in charge of the Corporate Planning Division, and shown outstanding leadership as Operating
Officer & CFO to strengthen compliance and governance. We believe that he will use his understanding of theCompany’s business and his high-level expertise based on past experience to improve the decision-making andfunctioning of the Board of Directors, and to increase corporate value. We therefore request that Mr. Yano beappointed as a Director.
October 2007
Joined Sapporo Drug Store Co., Ltd.
May 2015
Representative Director and President, Sapporo
Drug Store Co., Ltd.
February 2016 Director and Vice President, EZODEN Co., Ltd.
August 2016
Representative
DirectorandPresident,
SATUDORA HOLDINGS CO., LTD.
Hiroki Tomiyama
Representative Director, Chairman and CEO,
(September 5, 1976) July 2019
Regional Marketing Co., Ltd. (current position)
Director and Chairman, GRIT WORKS CO., LTD.
[Reappointment](current position)[Outside]
Director, CoelaQanth, Inc. (current position)[Independent Officer]
Director and CMO, AWL, Inc.
August 2020
Representative Director, President and CEO,SATUDORA HOLDINGS CO., LTD. (current
Term of officeposition)
2 years (as of the end
Representative Director, President and CEO,of the General Meeting
Sapporo Drug Store Co., Ltd. (current position)of Shareholders)November 2020 Director, RxR Innovation Initiative Co., Ltd.
(current position)
Outside Director, Valuence Holdings Inc. (current
position)
Director, the Company (current position)
April 2021
Outside Director, AWL, Inc. (current position)[Reasons for nomination as candidate for Outside Director and summary of expected roles]
Mr. Hiroki Tomiyama possesses extensive experience and outstanding insight cultivated over many years as acorporate executive, and we believe that he will utilize his broad-ranging networks in the service of theCompany’s management, provide opinions and recommendations to achieve qualitative improvement of overall
Group management, and perform appropriate audits of business execution as a member of the Company’s
Nomination Advisory Committee. We therefore request that Mr. Tomiyama be reappointed as a Director.

-7-

No.

Name
(Date of birth)

Career summary and positions and responsibilities at the Company(significant concurrent positions)

Issei Mori
(April 26, 1978)

December 2009
January 2010
September 2012
October 2016

[Reappointment][Outside][Independent Officer]
Term of office
4 2 years (as of the end of
the General Meeting of
Shareholders)

October 2017
November 2017
December 2017

December 2018
November 2020

Registered as an attorney
Joined Kobayashi & Todo Law and Patent Offices
Associate Professor, Keio University Law School
Established Daikanyama Law Office, appointed
representative (current position)
Outside Auditor, FIRSTLOGIC, INC. (current
position)
Outside Auditor, Tampei Pharmaceutical Co., Ltd.
(current position)
Outside Auditor, SportsField Co., Ltd. (current
position)
Outside Auditor, Atrae, Inc.
Non-executive Director (Audit & Supervisory
Board Member), Retty Inc. (current position)
Representative Director, SDGth Inc. (current
position)
Director, the Company (current position)

Number ofshares of theCompany held-

[Reasons for nomination as candidate for Outside Director and summary of expected roles]
Mr. Issei Mori has extensive experience and expertise as an attorney, and we believe that he will utilize thatexperience and his strong insight in compliance management and other aspects of governance, and that he will
perform appropriate audits of business execution as a member of the Company’s Nomination Advisory
Committee. We therefore request that Mr. Mori be reappointed as a Director.

-8-

No.

Name
(Date of birth)

Career summary and positions and responsibilities at the Company(significant concurrent positions)November 2007

Director and Vice President, Baidu, Inc. (currently
Baidu Japan Inc.)
October 2008
Joined Naver Japan Corporation (currently LINE
Corporation), Senior Manager of Business Strategy
Department
June 2011
Director, J Listing Co., Ltd. (currently LINE
Business Partners Corporation)
January 2012
Executive Officer, NHN Japan Corporation(formerly Naver Japan Corporation, currently
LINE Corporation)
March 2013
Executive Officer, Senior Manager of Business
Strategy Department and Senior Manager ofMarketing Communications Office, LINE
Corporation
Senior Executive Officer, CSMO, Senior Manager
April 2013of Business Strategy Department, LINE
Corporation
Senior Executive Officer and CSMO, LINE
April 2014
Corporation
Jun Masuda
Representative Director, LINE Ventures
September
2014(April 22, 1977)
Corporation
December 2014 Representative Director, LINE MUSIC[Reappointment]
Corporation (current position)[Outside]
March 2015
Director and CSMO, LINE Corporation (currently
A Holdings Corporation)
November 2016 Director, the Company (current position)
Term of office
6 years (as of the end of June 2017
Representative Director, WebPay Holdings
5 the General Meeting ofRepresentative Director, WebPay, Inc.
Shareholders)
September 2017 Representative Director, LINE TICKET
Corporation
Director, LINE Pay Corporation
Director, LINE Healthcare Corporation
January 2019
August 2020
Director, LINE Digital Frontier Corporation(current position)
November 2020 Director, Webtoon Entertainment Inc. (current
position)
February 2021
Director and CSMO, LINE Corporation (current
position)
March 2021
Director and Senior Managing Corporate Officer, Z
Holdings Corporation
April 2021
President, Representative Director and CPO, Z
Entertainment Corporation (current position)
Representative Director, LINE Healthcare
October 2021
Corporation (current position)
Director, Senior Managing Corporate Officer,
April 2022
Entertainment CPO, Z Holdings Corporation(current position)[Reasons for nomination as candidate for Outside Director and summary of expected roles]

Number ofshares of theCompany held-

Mr. Jun Masuda possesses extensive experience and broad insight cultivated in the field of business strategy andas a strategy advisor, serving as Director of LINE Corporation and in other executive positions. We believe hewill help formulate business strategy that utilizes the management resources of both the Company and LINE
Corporation and maximizes the synergies between the two, and therefore request that he be reappointed as a
Director.

-9-

No.

Name
(Date of birth)

Career summary and positions and responsibilities at the Company(significant concurrent positions)
April 1995

6

Joined CSK Corporation (currently SCSKCorporation)
January 2003
Joined Rakuten, Inc. as Corporate Officer in chargeof auction business
January 2005
Director, General Manager of Business Division,
Rakuten Baseball, Inc.
Director, Ozawa Research Institute (current
July 2007
position)
September 2012 Joined Yahoo Japan Corporation (currently Z
Holdings Corporation)
July 2013
Corporate Officer, President of Shopping
Company, Z Holdings Corporation
August 2013
Outside Director, ASKUL Corporation (current
position)
Takao Ozawa
CEO, YJ Capital Inc. (currently Z Venture Capital
April
2014
(February 29, 1972)
Corporation)
Board Member, YJ Capital Inc.
January 2015
[Reappointment]
September 2015 Outside Director, User Local, Inc.
[Outside]
March 2016
Director, ValueCommerce Co., Ltd.
April 2018
Managing Corporate Officer, EVP, President ofTerm of officeCommerce Company, Z Holdings Corporation
9 months (as of the end June 2018
Director, PayPay Corporation (current position)of the General Meeting October 2018
Chairman of the Board, Ikyu Corporation (current
position)of Shareholders)June 2019
Director, Senior Managing Corporate Officer, Z
Holdings Corporation
October 2019
Director, EVP, Senior Managing Corporate Officer,
COO (Chief Operating Officer), Yahoo Japan
Corporation
June 2020
Director, ZOZO, Inc. (current position)
February 2022
Director, the Company (current position)
Director, Senior Managing Corporate Officer, EApril 2022
Commerce CPO, Z Holdings Corporation (current
position)
President and Representative Director, President
Corporate Officer, CEO (Chief Executive Officer),
Yahoo Japan Corporation (current position)[Reasons for nomination as candidate for Outside Director and summary of expected roles]

Number ofshares of theCompany held-

Mr. Takao Ozawa possesses an extensive track record in positions of responsibility in the commerce businessand extensive experience and broad insight in corporate management, serving as Director and Senior Managing
Corporate Officer of Z Holdings Corporation. We believe he will contribute substantially to businesses theCompany intends to strengthen going forward, and therefore request that he be reappointed as a Director.

- 10 -

Notes: 1. There are no special interest relationships between the Company and any of the candidates.
2. Mr. Hiroki Tomiyama, Mr. Issei Mori, Mr. Jun Masuda, and Mr. Takao Ozawa are candidates
for Outside Director.
3. The Company has registered Mr. Hiroki Tomiyama and Mr. Issei Mori as independent officers
in accordance with the rules of the Tokyo Stock Exchange. If the two candidates arereappointed, the Company will continue to register them as independent officers.
4. The Company has entered into a liability limitation agreement with Mr. Hiroki Tomiyama, Mr.
Issei Mori, Mr. Jun Masuda, and Mr. Takao Ozawa that limits liability for damages up to theminimum liability amount stipulated in Article 425, Paragraph 1 of the Companies Act, and ifthey are reappointed, the agreement will be continued.
5. The Company has entered into a directors and officers liability insurance agreement with aninsurance company as stipulated in Article 430 (3), Paragraph 1 of the Companies Act. Under
the agreement, any damage caused as a result of the insured persons assuming responsibility
for the execution of duties as officers or as a result of the insured persons receiving claims
pertaining to the pursuit of such responsibility shall be covered, and the insurance agreement
is renewed every year. The insured persons under this directors and officers liability insurance
agreement are the Directors, Audit & Supervisory Board Members, and Operating Officers of
the Company and its consolidated subsidiary, Demae-can Communications Co., Ltd., and theCompany pays the entire amount of the insurance premiums for all of the insured persons. In
addition, if the candidates take office, the Company intends to insure all of them under the
insurance agreement, and although the agreement expires during their terms of office, theCompany intends to continue renewing the insurance agreement under the same terms andconditions for all of the insured persons.

- 11 -

[Reference] Composition and Skill Matrix of Directors if Proposal 2 is Approved
The following shows the composition of the Board of Directors and the Audit & Supervisory Board andthe expertise of each Director and Audit & Supervisory Board Member if Proposal 2 is approved.
*The following table marks up to 3 main skills possessed by each Director and Audit & Supervisory Board
Member and does not represent all knowledge and experience possessed by each Director and Audit &Supervisory Board Member.
Sales/
Marketing

Financial
Affairs

・Corporate
・Businessmanagement
strategy
・Business
・Marketing
management ・Sales

・Financial
affairs
・Accounting
・Finance
・Investment

Management

Legal Affairs/Risk

Digital/Technology

・Legal affairs
・Risk
・IT
・Compliance ・DX・GovernanceExpertise

Name

Title

Hideo Fujii

President & CEO○

Satoshi Yano

Director & CFO○

Hiroki Tomiyama

Outside Director○

Issei Mori

Outside Director○

Jun Masuda

Outside Director

○

○

○

Takao Ozawa

Outside Director

○

○

○

Takamitsu Suzuki

Hiroshi Akatsuka

Tetsuya Tsuji

Noritaka Ochiai

Outside Audit &Supervisory Board
MemberOutside Audit &Supervisory Board
MemberOutside Audit &Supervisory Board
MemberOutside Audit &Supervisory Board
Member

○

○
○

○

○

○
○

○

○

○

○

Attorney

○

○

○

○

○

- 12 -○

Attorney○Proposal 3: Reduction of the Amount of Capital Reserve and Appropriation of Surplus
1. Purpose of the reduction of the amount of capital reserve and appropriation of surplus
The Company proposes a reduction of capital reserve and appropriation of surplus in order to cover
the current deficit in retained earnings brought forward, aim to achieve a healthier financial state,
and ensure flexible and agile capital policy in the future.
2. Details of the reduction of the amount of capital reserve(1) Amount of the capital reserve to be reduced
In accordance with the provisions of Article 448, Paragraph 1 of the Companies Act, theCompany will reduce 52,151,814,394 yen from its capital reserve of 52,251,814,394 yen as ofAugust 31, 2022, which will result in capital reserve of 100,000,000 yen. The entire amount of
the reduced capital reserve will be transferred to other capital surplus.
(2) Effective date of the reduction of the amount of capital reserve
January 10, 2023 (planned)
3. Details of the appropriation of surplus(1) Reduction of the amount of other capital surplus and increase of retained earnings brought
forward
In accordance with the provisions of Article 452 of the Companies Act, subject to the effect of
reduction of the amount of capital reserve in section 2 above, the Company proposes to cover
the deficit in retained earnings brought forward by reducing 58,378,398,361 yen in othercapital surplus including the amount transferred from capital reserve and transferring this toretained earnings brought forward. As a result, the amount of retained earnings brought
forward will be 0 yen after the transfer.
(2) Effective date of the appropriation of surplus
January 10, 2023 (planned)- 13 -