This is an excerpt translation of the Japanese original for convenience only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

SHARE HANDLING REGULATIONS OF
JAFCO Group Co., Ltd.

CHAPTER I
GENERAL PROVISIONS
Article 1. (Purpose)
The handling business relating to the shares and stock acquisition rights of theCompany, the procedures for the exercise of shareholders’ rights and handling fees
shall be governed by the provision set forth by Japan Securities Depository Center, Inc.
(hereinafter referred to as “JASDEC”) and the account management institutions
including securities companies, etc. (hereinafter referred to as “Securities Companies,etc.”), with which shareholders have their transfer accounts, and by the provisions ofthese Share Handling Regulations pursuant to Article 11 (Share Handling Regulations)of the Articles of Incorporation.
Article 2. (Registrar of Shareholders)
The registrar of shareholders of the Company and its handling place of business shallbe as follows:(1) Registrar of shareholders
Mitsubishi UFJ Trust and Banking Corporation
4-5, Marunouchi 1-chome, Chiyoda-ku, Tokyo(2) Handling place of businessCorporate Agency Division
Mitsubishi UFJ Trust and Banking Corporation
4-5, Marunouchi 1-chome, Chiyoda-ku, Tokyo
CHAPTER IIRECORDS IN THE REGISTER OF SHAREHOLDERS
Article 3. (Records in the Register of Shareholders)
1. Any change of records in the register of shareholders shall be made upon
notifications from JASDEC, such as the General Shareholders Notification, excluding1

the notification (hereinafter referred to as the “Individual Shareholders Notice”)
stipulated in Article 154, Paragraph 3 of the Act on Book-Entry Transfer of Company
Bonds, Stocks, etc. (hereinafter referred to as the “Transfer Act“).
2. In addition to the preceding paragraph, in the case of issuance of new shares or in
any other case prescribed by laws or regulations, changes in the register of shareholders
shall be made without notices from JASDEC.
3. Records in the register of shareholders shall be made with the characters andsymbols designated by JASDEC.
Article 4. (Entries or Records, Etc. in Register of Stock Acquisition Rights)
1. A request for entries or records in the register of stock acquisition rights, a request
for registration, transfer or cancellation of a pledge with respect to stock acquisitionrights, and a request for the indication or deletion of trust assets shall be made to theregistrar of shareholders.
2. In addition to the preceding paragraph, the handling of stock acquisition rights may
be separately prescribed.
Article 5. (Notification relating to the Register of Shareholders)Shareholders shall notify the Company of their names and addresses through Securities
Companies, etc. and JASDEC in accordance with the procedures provided by
JASDEC . The same shall apply to any changes thereof.
Article 6. (Representatives of Corporate Shareholders)
If a shareholder is a corporation, one (1) representative of such corporation shall be
notified through Securities Companies, etc. or JASDEC in accordance with theprocedures provided by JASDEC. The same shall apply to any change thereof.
Article 7. (Representatives of Joint Owned Shares)
Shareholders who jointly own shares shall appoint one (1) representative, and submit a
notification thereof through Securities Companies, etc. and JASDEC in accordancewith the procedures provided by JASDEC. The same shall apply to any change
thereof.
Article 8. (Legal Representative)
Legal Representatives of shareholders such as persons having parental authority orguardians shall notify the Company of their names and addresses through Securities
Companies, etc. and JASDEC in accordance with the procedures provided byJASDEC. The same shall apply to any changes or removals thereof.
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Article 9. (Notification of Address by Foreign Resident Shareholders, etc.)
Shareholders and registered pledgees of shares or their legal representatives residing inforeign countries shall each appoint a standing proxy in Japan or designate a mailingaddress in Japan to receive notices. The name and address of the standing proxy orthe mailing address to receive notices shall be notified through Securities Companies,etc. and JASDEC in accordance with the procedures provided by JASDEC. The same
shall apply to any changes or removals thereof.
Article 10. (Other Notifications)
1. In addition to the notifications set forth in Article 5 hereof through the precedingarticle, any other notifications to the Company shall be made through Securities
Companies, etc. and JASDEC, or Securities Companies, etc. only. However, thisshall not apply to the cases provided for in Article 3, Paragraph 2 hereof.
2. Any notification that Securities Companies, etc. are unable to accept or handle shallbe filed with the registrar of shareholders.
Article 11. (Method of Confirmation of Notification through JASDEC)
Any notification from shareholders, which is submitted through Securities Companies,etc. and JASDEC, shall be deemed as a notification from the shareholder himself/
herself.
Article 12. (Matters to be Notified by Holders of Stock Acquisition Rights)
The provisions of Article 5 hereof through the preceding article shall apply mutatis
mutandis to the matters to be notified by the person who is entered or recorded in theregister of stock acquisition rights of the Company and the method of notification
thereof, provided that such notification shall be made to the registrar of shareholders,
unless otherwise provided for under Article 4, Paragraph 2 hereof.
CHAPTER III
IDENTIFICATION OF SHAREHOLDERS
Article 13. (Identification of Shareholders)
1.In the event that a shareholder (including a shareholder to whom the Individual
Shareholders Notice is given) claims or exercises shareholder rights (hereinaftercollectively referred to as the “Claims, etc.”), such shareholder shall attach or provide
an evidence that such Claims, etc. were made by such shareholder (hereinafter referredto as the “Evidence”), unless otherwise verified by the Company that the Claims, etc.
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were made by the such shareholder.
2. The Claims, etc. made from a shareholder to the Company through Securities
Companies, etc. and JASDEC shall be deemed to be made by such shareholder, andsubmission of the Evidence is not required.
3. The Claims, etc. by a proxy shall be made pursuant to the provisions of thepreceding two paragraphs with a letter of proxy with a signature or the name and sealof the shareholder attached thereto. In such a letter of proxy, the name and address ofthe proxy shall be provided.
4. The provisions of the preceding paragraphs 1 and 2 shall apply mutatis mutandis tothe proxy.
CHAPTER IVPROCEDURES FOR EXERCISING SHAREHOLDERS’ RIGHTS, ETC.
Article 14. (Document Delivery Requests and Statements of Objections)
Requests for delivery of written documents containing the matters in referencematerials for the general meeting of shareholders, etc. to be provided electronicallypursuant to Article 325-5, Paragraph 1 of the Companies Act (hereinafter referred to as“Document Delivery Requests”), and statements of objections, as stipulated inParagraph 5 of the same, shall be made in writing. However, in the case of Document
Delivery Requests made through Securities Companies, etc. and JASDEC, the requests
shall be made in accordance with the procedures provided by Securities Companies,etc. and JASDEC.
Article 15. (Minority Shareholders’ Right, Etc.)
In the event that a shareholder exercises the Minority Shareholders’ Rights, etc.,
defined in Article 147, Paragraph 4 of the Transfer Act, directly against the Company,
the shareholder shall submit a document bearing the signature or the name and seal
along with making a request for an Individual Shareholder’s Notice.
Article 16. (Description of Shareholder Proposals in Reference Materials for
General Meeting of Shareholders)
In the event that a shareholder submits a proposal in the general meeting ofshareholders, the length of the proposal determined by the Company in accordancewith Article 93, Paragraph 1 of the Regulations for Enforcement of the Companies Act
shall be as follows:(1) Reasons for proposal
Four hundred (400) characters for each proposal
4(2) Matters to be included in reference materials for the general meeting ofshareholders concerning the election of officers
Four hundred (400) characters for each candidate
Article 17. (Method of Requesting Purchase of Less-than-One-Unit)
In the event that a holder of the Company’s shares constituting less than one unit
requests that the Company purchase the less-than-one-unit shares being held, such
request shall be made through Securities Companies, etc. and JASDEC in accordancewith the procedures provided by JASDEC.
Article 18. (Determination of Purchase Price)
1. The purchase price per share subject to a purchase request in accordance with thepreceding article shall be the closing price of the Company’s shares at the Tokyo Stock
Exchange (the “TSE”) on the day on which the purchase request is received at thehandling place of business of the registrar of shareholders; provided, however, that if
trading of the Company’s shares does not take place on the said day, or the said day
falls on a holiday of the TSE, the purchase price per share shall be the price at which
the Company shares are first traded after the said day.
2. The purchase amount shall be obtained by multiplying the purchase price per sharereferred to in the preceding paragraph by the number of shares requested for purchase.
Article 19. (Payment of Purchase Price)
1. Unless otherwise determined by the Company, the Company shall pay the purchaseamount (hereinafter referred to as the “Purchase Amount”) calculated pursuant to thepreceding article on the fourth business day from the following day on which thepurchase price per share is determined, as required by JASDAC; provided, however,that if the purchase amount contains the right to dividends from surplus or stock split,
etc., the Company shall pay the Purchase Amount no later than the record date thereof.
2. A person requesting share purchase may request payment of the Purchase Amount tobe transferred to the bank account designated by such person or in cash through Japan
Post Bank Co., Ltd.
Article 20. (Transfer of Purchased Shares)
Shares less than one unit requested for purchase shall be transferred to the transfer
account of the Company on the date of payment or completion of the procedures forpayment of the Purchase Amount in accordance with the preceding article.

5Article 21. (Method of Requesting for Additional Purchase of Less-than-One-UnitShares)
In the event that a shareholder who holds less-than-one-unit shares requests that theCompany sell a number of shares which, when added to the less-than-one-unit shares
being held, would constitute one (1) unit (hereinafter referred to as the “Request for
Additional Purchase”), such request shall be made through Securities Companies, etc.
and JASDEC in accordance with the procedures provided by JASDEC.
Article 22. (Request for Additional Purchase in Excess of Available Treasury
Shares)If the total number of shares subject to the Requests for Additional Purchase on a sameday exceeds the number of transferrable treasury shares held by the Company, none of
the Requests for Additional Purchase on the said day shall come into effect.
Article 23. (Effective Date of Request for Additional Purchase)A Request for Additional Purchase shall come into effect on the day when the said
Request for Additional Purchase is received at the handling place of business ofregistrar of shareholders.
Article 24. (Determination of Purchase Price)
1. The purchase price per share subject to a Request for Additional Purchase shall be
the closing price at the TSE on the effective date of the Request for Additional
Purchase; provided, however, that if no trading of the Company’s shares takes place on
the said day, or the said day falls on a holiday of the TSE, the purchase price per share
shall be the price at which the Company shares are first traded after the said day.
2. The additional purchase amount shall be obtained by multiplying the additionalpurchase price per share referred to in the preceding paragraph by the number of sharesrequested for purchase.
Article 25. (Transfer of Additionally Purchased Shares)
Application for transfer of treasury shares to the shareholder’s transfer account in a
number equal to the number of shares subject to a Request for Additional Purchaseshall be made on the day on which the Company has confirmed that such shareholder
has remitted the additional purchase amount to the bank account designated by theCompany through Securities Companies, etc. in accordance with the procedures
provided by JASDEC.

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Article 26. (Period of Suspension for Additional Purchase Request)
1. The Company shall suspend the acceptance of Request for Additional Purchase
every year from the period starting from the tenth business day prior to and ending on
the respective dates listed below:(1) March 31;(2) September 30; and(3) Any other determination date of shareholders as provided by JASDEC.
2. Notwithstanding the preceding paragraph, the Company may, when it deems
necessary, set additional periods for suspension of the acceptance of Request for
Additional Purchase.
CHAPTER V
SPECIAL TREATMENT OF SPECIAL ACCOUNT
Article 27. (Special Treatment of Special Account)
Identification of a shareholder for whom a special account has been opened and othermatters related to the special account shall be handled in accordance with theprocedures provided by JASDEC as well as by the account management institution of
the said special account.
CHAPTER VI
HANDLING FEES
Article 28. (Handling Fees)
1. There shall be no fee in connection with the handling of shares of the Company.
2. Handling fees payable by shareholders to Securities Companies, etc. or JASDEC shallbe borne by such shareholders.

REVISION HISTORY
1. Date of implementation
February 1, 1984
2. Date of amendments
June 3, 1987
July 22, 1994
February 28, 1997
January 29, 2001

August 1, 1989
February 17, 1995
August 1, 1998
October 1, 2001
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June 26, 1992June 27, 1996
August 1, 2000
January 15, 2002

June 27, 2002

April 1, 2003

June 24, 2004

October 1, 2004
December 12, 2007
September 9, 2015

October 1, 2005
January 5, 2009
September 1, 2022

May 1, 2006
June 19, 20098