[Translation for Reference and Convenience Purposes Only]Note. This document has been translated to English from the Japanese original for reference
and convenience purposes only. In the event of any discrepancy between this translated
document and the Japanese original, the Japanese original shall prevail.

(Securities Code: 4091)
May 12, 2023
1-3-26 Koyama, Shinagawa-ku Tokyo
Nippon Sanso Holdings Corporation
Toshihiko Hamada, Representative Director, President CEO

Partial corrections to the targets and results of indicators tied to Performance-linked
Bonuses for directors included in the Business Report sections of the Notices ofConvocation of the 17th and 18th Ordinary General Meetings of Shareholders
Nippon Sanso Holdings Corporation (the “Company”) hereby announces that there were errors in theBusiness Report sections of the following documents published by the Company:“Notice of Convocation of the 17th Ordinary General Meeting of Shareholders” for the fiscal
year ended March 31, 2021 (held on June 18, 2021)“Notice of Convocation of the 18th Ordinary General Meeting of Shareholders” for the fiscal
year ended March 31, 2022 (held on June 17, 2022)
We sincerely apologize for the errors and provide details of the corrections below.
[Corrected sections and correction details]･Corrected sections:
1. Page 35 of “Notice of Convocation of the 17th Ordinary General Meeting of Shareholders”“･Targets & results of indicators tied to Performance-linked Bonuses for directors (excludingoutside directors) in FYE 2021”
2. Page 46 of “Notice of Convocation of the 18th Ordinary General Meeting of Shareholders”“･Targets & results of indicators tied to Performance-linked Bonuses for directors (excluding
outside directors and directors who mainly serve as officers of subsidiaries) in FYE March 2022”･Correction details:
For both 1 and 2 above, in sections where the Company should have provided targets and results ofindicators for the preceding year of the fiscal year covered by each notice, the Company has incorrectly
provided targets and results of the fiscal year covered by each notice*. For details of the corrections,please refer to the following pages.
* In principle, remuneration for the Company’s directors is based on an annual salary system.
The "Performance-linked Bonuses" portion of the remuneration vary according to business results.
The amount of remuneration is determined by reflecting the degree of achievements of each fiscal
year’s budget based on medium-term management plan targets as well as year-on-year performance
improvements, and paid from July of the following fiscal year (for example, the amount of
remuneration paid to directors from July of the fiscal year ended March 31, 2022 was determined byreflecting the business performance of the fiscal year ended March 31, 2021, etc.).
In the Business Report section for the fiscal year ended March 31, 2022, the Company has
incorrectly provided targets and results of indicators for the fiscal year ended March 31, 2022, insteadof targets and results of indicators for the fiscal year ended March 31, 2021 that have served as thebasis for determining the amount of remuneration for directors paid in the fiscal year covered by thereport. Similarly, in the Business Report section for the fiscal year ended March 31, 2021, theCompany has incorrectly provided targets and results of indicators for the fiscal year ended March31, 2021, instead of targets and results of indicators for the fiscal year ended March 31, 2020.

1

1. Page 35 of “Notice of Convocation of the 17th Ordinary General Meeting of Shareholders”
Corrections to “･Targets & results of indicators tied to Performance-linked Bonuses fordirectors (excluding outside directors) in FYE 2021”[Before correction]･Targets & results of indicators tied to Performance-linked Bonuses for directors (excluding outsidedirectors) in FYE2021
Degree of achievement in each FY’s budget based on medium-term management plan targets
Indicator for evaluation

Target for FYE2021

Results for FYE2021

Consolidated revenue

830,000 mil. yen

818,238 mil. yen

Consolidated core
operating profit margin

9.9%

10.7%

Indicator for evaluation

Results of FYE2020

Results of FYE2021

Consolidated revenue

850,239 mil. yen

818,238 mil. yen

90,337 mil. yen

87,251 mil. yen

53,340 mil. yen

55,214 mil. yen

Year-on-year performance improvements

Consolidated core
operating profit
Profit attributable to ownersof parent company[After correction]･Targets & results of indicators tied to Performance-linked Bonuses for directors (excluding outsidedirectors) in FYE2021
Degree of achievement in each FY’s budget based on medium-term management plan targets
Indicator for evaluation

Target for FYE2020

Results for FYE2020

Consolidated revenue

890,000 mil. yen

850,239 mil. yen

10.7%

10.6%

Indicator for evaluation

Results of FYE2019

Results of FYE2020

Consolidated revenue

740,341 mil. yen

850,239 mil. yen

65,819 mil. yen

90,337 mil. yen

41,291 mil. yen

53,340 mil. yen

Consolidated core operating
profit margin
Year-on-year performance improvements

Consolidated core operating
profitProfit attributable to ownersof parent company22. Page 46 of “Notice of Convocation of the 18th Ordinary General Meeting of Shareholders”
Corrections to “･Targets & results of indicators tied to Performance-linked Bonuses fordirectors (excluding outside directors and directors who mainly serve as officers ofsubsidiaries) in FYE March 2022”[Before correction]･Targets & results of indicators tied to Performance-linked Bonuses for directors (excluding outside
directors and directors who mainly serve as officers of subsidiaries) in FYE March 2022 (Note)
Degree of achievement in the budget of the fiscal year ended March 31, 2022
Indicator for evaluation

Weight for evaluation

Consolidated revenue
Consolidated core
operating profit margin

25%
25%

FYE March 2022
TargetFYE March 2022
2022 Results

865,000 mil. yen

957,169 mil. yen

11.1%

10.7%

Year-on-year performance improvements
Indicator for evaluation
Consolidated revenue
Consolidated core
operating profit
Net income attributableto owners of the parent

Weight forevaluation
16.6%

FYE March 2021
Results

FYE March 2022
Results

818,238 mil. yen

957,169 mil. yen

16.6%

87,251 mil. yen

102,710 mil. yen

16.6%55,214 mil. yen

64,103 mil. yen(Note) Since the medium-term management plan has not been formulated for the FYE March 2022,“Degree of achievement in the budget of the FYE March 2022 (Consolidated revenue andConsolidated core operating profit margin)" is used to calculate directors’ performance-linkedremuneration (approved by the Board of Directors held on June 18, 2021), instead of “Degreeof achievement in the budget based on medium-term management plan targets (Consolidatedrevenue and Consolidated core operating profit margin)” specified by the Company’s internalregulations on remuneration for directors.
[After correction]･Targets & results of indicators tied to Performance-linked Bonuses for directors (excluding outsidedirectors and directors who mainly serve as officers of subsidiaries) in FYE March 2022
Degree of achievement in each FY’s budget based on medium-term management plan targets
Indicator for evaluation

Weight for evaluation
25%

FYE March 2021
Target830,000 mil. yen

FYE March 2021
Results
818,238 mil. yen

Consolidated revenue
Consolidated core
operating profit margin

25%

9.9%

10.7%

Weight forevaluation
16.6%

FYE March 2020
Results
850,239 mil. yen

FYE March 2021
Results
818,238 mil. yen

16.6%

90,337 mil. yen

87,251 mil. yen

16.6%

53,340 mil. yen

55,214 mil. yen

Year-on-year performance improvements
Indicator for evaluation
Consolidated revenue
Consolidated core
operating profit
Net income attributableto owners of the parent-End of document3