Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

Securities Code: 8154
June 11, 2020
To all of our shareholders
Ryoichi Kado
President & COO
KAGA ELECTRONICS CO., LTD.
20 Kandamatsunagacho, Chiyoda-ku, Tokyo, Japan

Notice of the 52nd Ordinary General Meeting of Shareholders
We hereby inform you of the 52nd ordinary general meeting of shareholders of KAGA ELECTRONICS CO., LTD.
(the “Company”) to be held as follows.
We will be holding this General Meeting of Shareholders upon taking appropriate measures to prevent the spread of
the novel coronavirus disease (COVID-19). However, from the perspective of preventing the spread of infection,
we strongly suggest that you exercise your voting rights beforehand in writing or via the Internet, etc. to the best of
your ability.
If you are going to exercise your voting rights beforehand, please read the attached Reference Documents for theGeneral Meeting of Shareholders and exercise your voting rights by no later than 5:30 p.m. on June 25, 2020(Thursday) (Japan Time), the day before the day on which the general meeting will be held.
[Exercising voting rights in writing]
Please express your approval or disapproval of the proposals in the enclosed Exercise Voting Rights Form andreturn the form to us to arrive by the aforementioned deadline.
[Exercising voting rights via the Internet, etc.]
After reviewing the “Instructions on Exercise of Voting Rights via the Internet, etc.” (available in Japanese only),please access the Company’s designated voting website (https://evote.tr.mufg.jp/), follow the instructions on thescreen, and enter your approval or disapproval of the proposals by the aforementioned deadline.
1. Date and Time
2. Place

10:00 a.m. on June 26, 2020 (Friday) (Japan Time)
Akihabara Business Center 4F, AP Akihabara
1-1 Akihabara, Taito-ku, Tokyo
3. Agenda of the Meeting
Matters to be reported
1. The Business Report and Consolidated Financial Statements for the 52nd fiscal year (from April 1, 2019 toMarch 31, 2020), and results of the Audit Reports by the Accounting Auditor and the Board of Auditors ofthe Consolidated Financial Statements
2. Non-consolidated Financial Statements for the 52nd fiscal year (from April 1, 2019 to March 31, 2020)
Matters to be resolved
Proposal No. 1:
Distribution of Surplus
Proposal No. 2:
Election of One (1) Auditor
If you attend the meeting in person, please present the enclosed Exercise Voting Rights Form at the reception on arrival at the meeting.
From the perspective of preventing the spread of COVID-19, shareholders who are thought to be unwell on the day of the meeting
may be refused entry.
Of the documents that the Company needs to provide along with this notice, Notes to the Consolidated Financial Statements and Notes
to the Non-consolidated Financial Statements are posted on the Company’s website on the Internet (https://www.taxan.co.jp) inaccordance with laws and regulations and the provision in Article 16 of the Company’s Articles of Incorporation. Therefore, they are
not included in this Notice of the Ordinary General Meeting of Shareholders.
These matters are included in the Consolidated Financial Statements and Non-consolidated Financial Statements audited at the timethat the Auditor prepared the Audit Report and the Accounting Auditor prepared the Accounting Audit Report.

-1-In the event of any significant changes to this Ordinary General Meeting of Shareholders, such as to the operation, venue, etc., due toany future developments regarding COVID-19, or changes to the Reference Documents for the General Meeting of Shareholders or
the Business Report, Non-consolidated Financial Statements and Consolidated Financial Statements, they will be posted on theCompany’s website on the Internet (https://www.taxan.co.jp).

-2-Reference Documents for the General Meeting of Shareholders
Proposal No. 1:

Distribution of Surplus

The Company intends to distribute the surplus as follows.
Matters related to year-end dividends
We propose a year-end dividend for the 52nd fiscal year as follows, taking into account the Company’s businessresults in the fiscal year under review and business development, etc. going forward.
(1) Type of dividend property
To be paid in cash.
(2) Allotment of dividend property and the total amountThe Company proposes a regular dividend of 30 yen per share of common stock of the Company plus a
special dividend of 10 yen, for a total dividend payout of 40 yen per share. Note that the total amount of thedividends in this case will be 1,098,440,200 yen.
As a result, combined with the interim dividend of 30 yen per share already paid, the annual dividend payout
will be 70 yen per share and the total amount of the annual dividends will be 1,921,920,700 yen.
(3) Effective date of distribution of surplus
It is planned to be June 29, 2020.

-3-

Proposal No. 2:

Election of One (1) Auditor

The terms of office of auditor Yoichi Sato will expire at the conclusion of this general meeting. Therefore, theCompany proposes that one (1) auditor be elected.
Furthermore, the Board of Auditors has given acknowledgment of this proposal.
A candidate for auditor is as follows.
Name(Date of birth)

Career summary and position in the Company

Assistant Judge at Tokyo District Court
Judge at Tokyo District Court
Judge at Tokyo High Court
Admitted to the bar
Joined Alpha Partners Law Offices (to present)
June 2018
Outside Auditor of the Company (to present)[Reasons for proposing the candidate for outside auditor]
The Company proposes the election of Yoichi Sato as outside auditor so that he can utilize the advanced legal knowledge he has
cultivated over many years as a lawyer and judge to strengthen the auditing system of the Company. Yoichi Sato has no experienceof being directly involved in management but based on the above reasons, the Company judges that he will be able to perform hisduties appropriately as an outside auditor.
(Notes) 1. Yoichi Sato serves concurrently as a lawyer (of counsel) for Alpha Partners Law Offices. The Company has signed alegal advisor agreement with Alpha Partners Law Offices. However, as Yoichi Sato is not a partner at Alpha Partners
Law Offices, he does not contribute to their management.
2. Yoichi Sato is a candidate for an outside auditor.
3. Yoichi Sato is currently an outside auditor of the Company, and his tenure as outside auditor will come to two (2) years
at the conclusion of this meeting.
4. The Company has entered into a contract with Yoichi Sato based on the provisions of the Companies Act, Article 427,
Paragraph 1 to limit his liability for damages under Article 423, Paragraph 1 of the said Act to within the minimum
liability amount stipulated in Article 425, Paragraph 1 of the said Act. If his reelection of Yoichi Sato is approved asoriginally proposed, the Company plans to renew the aforementioned contract with him.
5. Yoichi Sato satisfies the requirements for an independent officer based on the provisions of the Tokyo Stock Exchange;
so the Company plans to continue to register him as an independent officer if his reelection is approved as originallyproposed.
Reelection
OutsideIndependent
Yoichi Sato(July 29, 1951)

Apr. 1977
Apr. 1989
Apr. 1996
Aug. 2016

Number of theCompany’s shares
held-4-