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: 6165
June 5, 2024
To our shareholders:
Tetsuji Morikubo
Representative Director
PUNCH INDUSTRY CO., LTD.
6-22-7 Minami-oi, Shinagawa-ku, Tokyo

Notice of the 50th Annual General Meeting of Shareholders
We are pleased to announce the 50th Annual General Meeting of Shareholders of PUNCH INDUSTRY CO., LTD.
(the “Company”), which will be held as described below.
When the Company convenes the General Meeting of Shareholders, it takes measures of the electronic
provision of information (Measures for Providing Information in Electronic Format) that constitutes thecontent of reference documents for the General Meeting of Shareholders and this information is posted on the
Company’s website, etc. as “Notice of the 50th Annual General Meeting of Shareholders.” To review thisinformation, please access these materials on the following website.
The Company’s website:
https://www.punch.co.jp/ir/stock.html (in Japanese)
Website for posted information materials for the General Meeting of Shareholders:
https://d.sokai.jp/6165/teiji/ (in Japanese)
Tokyo Stock Exchange (TSE) website (Listed Company Search):https://www2.jpx.co.jp/tseHpFront/JJK010010Action.do?Show=Show (in Japanese)(Access the TSE website by using the internet address shown above, enter “PUNCH INDUSTRY” in “Issue name(company name)” or the Company’s securities code “6165” in “Code,” and click “Search.” Then, click “Basic
information” and select “Documents for public inspection/PR information.” Under “Filed information available forpublic inspection,” click “Click here for access” under “[Notice of General Shareholders Meeting /Informational
Materials for a General Shareholders Meeting].”)If you are unable to attend the meeting in person, you may exercise your voting rights via the Internet or inwriting. Please review the Reference Documents for the General Meeting of Shareholders and exercise yourvoting rights by 6:00 p.m. (JST) on Monday, June 24, 2024.

-1-1. Date and Time

Tuesday, June 25, 2024 at 10:00 a.m. (JST) (Reception desk will open at 9:00 a.m.)

2. Venue

A+B Meeting Room, Single Building 3F, Ours Inn Hankyu
1-50-5 Oi, Shinagawa-ku, Tokyo

3. Purpose of the Meeting
Matters to be reported
1. Business Report and Consolidated Financial Statements for the 50th fiscal year (from April 1, 2023 toMarch 31, 2024), and audit results of the Consolidated Financial Statements by the Accounting
Auditor and the Audit and Supervisory Committee
2. Non-consolidated Financial Statements for the 50th fiscal year (from April 1, 2023 to March 31, 2024)
Matters to be resolved
Proposal No. 1
Appropriation of Surplus
Proposal No. 2
Election of Five Directors (Excluding Directors Who Are Audit and Supervisory
Committee Members)
4. Matters for decision(1) When voting rights are exercised in writing, if neither Approve or Disapprove is marked for a proposalon the voting form, it will be handled as if Approve had been marked.
(2) If a voting right has been exercised multiple times via the Internet, the final exercise of the voting right
will be handled as the valid one.
(3) If a voting right is exercised redundantly via the Internet and in writing, it will be handled as if thevoting right exercised via the Internet is the valid one.
(4) If a voting right is exercised via proxy, one person acting as proxy who holds voting rights and is alsoa shareholder of the Company shall be present at the General Meeting of Shareholders. However, theproxy must provide documents that offer proof of their proxy rights.

- When you attend the meeting in person, you are kindly requested to present the enclosed voting form at the reception desk.
- If revisions to the matters subject to the Measures for Providing Information in Electronic Format arise, a notice of the revisions andthe details of the matters before and after the revisions will be posted on each of the aforementioned websites.
- Paper-based documents stating the Measures for Providing Information in Electronic Format are sent to shareholders who haverequested the delivery of paper-based documents; however, in accordance with the provisions of laws and regulations and theCompany’s Articles of Incorporation, those documents do not include the following matters.
(i) In the Business Report, “Status of Share Acquisition Rights,” “System to Ensure the Appropriateness of Operations and Its
Operational Status,” “Basic Policy Regarding Control of the Company,” and “Policy Regarding Determination of Dividends ofSurplus, etc.”(ii) In the Consolidated Financial Statements, “Consolidated Statement of Changes in Equity” and “Notes to Consolidated Financial
Statements”(iii) In the Non-consolidated Financial Statements, “Non-consolidated Statement of Changes in Equity” and “Notes to Nonconsolidated Financial Statements”
Accordingly, the Business Report, Consolidated Financial Statements, and Non-consolidated Financial Statements stated in these
paper-based documents are part of the Business Report, Consolidated Financial Statements, and Non-consolidated Financial
Statements audited by the Audit and Supervisory Committee for the audit report and the Accounting Auditor for the accounting audit
report.

-2-

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

Appropriation of Surplus

The Company considers return of profit to its shareholders as one of its management priorities. With respect to profit
distribution, its basic policy is to pay stable dividends constantly and to emphasize linkage to consolidated businessresults while securing the internal reserves necessary for future business development and enhancement of the
management structure. The Company has set goals of a “30% consolidated payout ratio and 3% dividends onshareholder equity (DOE),” and it intends to make appropriate profit distributions from a comprehensive viewpoint
based on these goals and on its financial position, the demand for funds, and other considerations.
In accordance with this policy, the annual dividend for the current fiscal year shall be as follows.
Since the Company paid an interim dividend of ¥10 per share, the annual dividend for the current fiscal year will be¥19.40 per share.
1
2

3Type of dividend property
Cash
Allotment of dividend property and total amount thereof¥9.40 per common share of the Company
Total dividends ¥229,974,084
Effective date of dividends of surplus
June 26, 2024

-3-

Proposal No. 2

Election of Five Directors (Excluding Directors Who Are Audit and Supervisory
Committee Members)

At the conclusion of this General Meeting of Shareholders, the terms of office of all five Directors will expire(excluding Directors who are Audit and Supervisory Committee members. The same applies for the proposal below).
Therefore, the Company proposes the election of five Directors.
Each candidate for Director has been selected by the Board of Directors after deliberation at the Nomination &Remuneration Committee, a majority of which is independent Outside Directors.
Upon reviewing the deliberations of the Nomination & Remuneration Committee and the policies for nominating
candidates for Director, the Company’s Audit and Supervisory Committee has determined that there are no special
matters with regard to this proposal to be stated at the General Meeting of Shareholders as required by the provisionsof the Companies Act.
The candidates for Director are as follows.
Name

GenderAge

1

Tetsuji Morikubo

Male
47

2

Takao Murata

Male
64

3

Akira Takanashi

Male
55

4

Naruhiko Takatsuji

Male
46

Outside Director, Chairperson of the Boardof Directors

5

Mariko Ohsato

Female61

Outside Director

CandidateNo.

Current position in the Company
Representative Director
President, Chief Executive Officer
Director
Senior Executive Officer, Chief Financial
Officer
Director
Senior Executive Officer, Chief Operating
Officer

Reelection:
Candidate for Director to be reelected
Outside:Candidate for outside Director
Independent:
Candidate for independent officer
Note: Age is that at the time of the General Meeting of Shareholders.

-4-

Attribute

Reelection

Attendance atBoard ofDirectors
meetings
15/15(100%)

Reelection

15/15(100%)

Reelection

15/15(100%)

Reelection
OutsideIndependent
Reelection
OutsideIndependent

15/15(100%)
15/15(100%)

Candidate
No.

Name
(Date of Birth)

Career summary, position and responsibility in the Company
May 2003
Feb. 2005

1

Number of theCompany’s shares
ownedJoined the Company
Seconded to PUNCH INDUSTRY (DALIAN)
CO., LTD.
Nov. 2012
General Manager of Value Creation Office of
the Company
Apr. 2013
General Manager of Corporate Planning Office
Apr. 2015
Seconded to PUNCH INDUSTRY MALAYSIA
SDN. BHD.
Tetsuji Morikubo
Dec. 2015
Managing Director of PUNCH INDUSTRY(January 12, 1977)
MALAYSIA SDN. BHD.
Apr. 2016
Executive Officer of the Company
Reelection
June 2018
Director and Senior Executive Officer in
673,600
Attendance at Board ofCharge of Corporate Strategy
Directors meetings in FY2023 Apr. 2019
Chief Strategy Officer in Charge of Group
15/15
Business Management
June 2019
Representative Director (incumbent) and Vice
Tenure as Director
President
6 years
Nov. 2019
President and Chief Executive Officer
in Charge of the Punch Industry Group(incumbent)[Significant concurrent positions outside the Company]
There are no significant concurrent positions assumed.
[Relationship of special interest in the Company]
There is no special interest between Tetsuji Morikubo and theCompany.
Reasons for nomination as candidate for Director
Since taking the office of Director of the Company in June 2018, Mr. Morikubo has been overseeing the entire businessof the Punch Industry Group, with a focus on management and business development strategies. Furthermore, since
becoming President and Chief Executive Officer in November 2019, he has worked hard for the growth of the Groupand to improve corporate value as a top executive of the Punch Industry Group by utilizing his business experience at
the Company and the Punch Industry Group in China and Southeast Asia. Accordingly, the Company requests that he bereelected as Director to oversee the Group’s management, execute the “VC2024 Revival” mid-term business plan, anddirect the further growth of the Group while enhancing its corporate value.

-5-

Candidate
No.

Name
(Date of Birth)

Career summary, position and responsibility in the Company
Apr. 19842

Number of theCompany’s shares
ownedJoined Victor Company of Japan, Limited(currently JVCKENWOOD Corporation)
Nov. 1998
Seconded to JVC Electronics Malaysia Sdn.
Bhd. as General Manager of Accounting
Department
Oct. 2008
Senior Manager of Finance Strategy Divisionof JVCKENWOOD Holdings, Inc. (currently
JVCKENWOOD Corporation)
Takao Murata
July 2010
General Manager of Accounting & Tax(October 4, 1959)
Supervisory Department of Finance Strategy
Division of JVCKENWOOD Holdings, Inc.
Reelection
Dec. 2010
Joined the Company as Deputy General
Manager of Accounting Department
42,316
Attendance at Board ofGeneral Manager of Accounting Department
Directors meetings in FY2023 Apr. 2011
July 2011
Executive Officer
15/15
June 2012
Director (incumbent)
Tenure as Director
June 2016
Executive Officer and Chief Financial Officer
12 yearsJune 2017
Senior Executive Officer and Chief Financial
Officer (incumbent)
June 2018
In Charge of Administration (incumbent)[Significant concurrent positions outside the Company]
There are no significant concurrent positions assumed.
[Relationship of special interest in the Company]
There is no special interest between Takao Murata and theCompany.
Reasons for nomination as candidate for Director
Since taking office of Director of the Company in June 2012, Mr. Murata has overseen the Group’s administration
department by utilizing many years of experience and insights in finance and accounting. In addition to centrally
managing the Group’s human, material, financial and information resources, he has promoted reforms in working-styleand corporate governance. As such, the Company requests that he be reelected as Director. He will continue to be incharge of administration and will be the Executive Officer responsible for strengthening the foundation of the “VC2024
Revival” mid-term business plan, especially in regards to promoting financial and sustainability strategies and humancapital management.

-6-

Candidate
No.

Name
(Date of Birth)

Career summary, position and responsibility in the Company
Aug. 1989
Apr. 2008

3

Number of theCompany’s shares
ownedJoined the Company
Seconded to PUNCH INDUSTRY (DALIAN)
CO., LTD.
July 2013
General Manager of PUNCH INDUSTRY(DALIAN) CO., LTD.
June 2015
Executive Officer of the Company and
Chairman of PUNCH INDUSTRY (DALIAN)
CO., LTD.
Akira Takanashi
June 2017
Senior Executive Officer of the Company(May 14, 1969)(incumbent)
Apr. 2018
General Manager of Manufacturing
Reelection
Headquarters and General Manager ofMarketing & Sales Headquarters
31,535
Attendance at Board of
Director (incumbent) in Charge of Domestic
Directors meetings in FY2023 June 2018
Businesses
15/15
Apr. 2019
Chief Operating Officer (incumbent) in Charge
Tenure as Directorof Manufacturing and General Manager of
6 years
Manufacturing Headquarters
June 2021
In Charge of Manufacturing
Apr. 2023
In Charge of Operations (incumbent)[Significant concurrent positions outside the Company]
There are no significant concurrent positions assumed.
[Relationship of special interest in the Company]
There is no special interest between Akira Takanashi and theCompany.
Reasons for nomination as candidate for Director
Since taking office of Director of the Company in June 2018, Mr. Takanashi has been a powerful force in improving theGroup’s manufacturing capabilities and product quality as head of manufacturing by utilizing his business experience at
the Company and the Punch Industry Group in China. Accordingly, the Company requests that he be reelected as
Director. He will continue to be in charge of operations, and will be the Executive Officer to integrate manufacturing
and sales, a major issue for management overall, while realizing improvement in corporate value under the “VC2024
Revival” mid-term business plan.

-7-

Candidate
No.

Name
(Date of Birth)

Career summary, position and responsibility in the Company
Apr. 2000

Naruhiko Takatsuji(October 4, 1977)
Reelection
OutsideIndependent
4
Attendance at Board of
Directors meetings in FY2023
15/15
Tenure as Outside Director
3 years

Joined the Ministry of Economy, Trade andIndustry
June 2007
Joined M&A Advisory Services Department of
Sumitomo Mitsui Banking Corporation
July 2009
Analyst at Toward the Infinite World, Inc.
June 2011
In Charge of Public Relations and IR of
General Administration Department of
Nabtesco Corporation
Jan. 2013
Senior Analyst at Analysis Team of Uzabase,Inc.
May 2014
Senior Analyst at Ichiyoshi Securities Co., Ltd.
(Seconded to ICHIYOSHI RESEARCHINSTITUTE INC.)
July 2020
Senior Economist and Senior Analyst at
Information Distribution Section of FISCO Ltd.
Apr. 2021
Part-time Lecturer at Graduate School of Law,
Aoyama Gakuin University
Apr. 2021
Visiting Researcher at Tama University Center
for Social Investment(retired at the end of March 2024)
June 2021
Outside Director of the Company (incumbent)
June 2021
Outside Director (Audit and Supervisory
Committee Member) of YAMASHIN-FILTER
CORP. (incumbent)
Jan. 2022
Visiting Professor at Professional University ofInformation and Management for Innovation(retired at the end of March 2024)
Feb. 2022
Founded Japan Governance & Valuation
Institute
Director and Economic Analyst (incumbent)
Apr. 2022
Part-time Lecturer at Faculty of Liberal Arts
and Sciences, Tokyo City University(retired at the end of March 2024)
June 2022
Chairperson of the Board of Directors of theCompany (incumbent)
June 2022
Outside Director of NITTOKU CO., LTD.
(incumbent)
Apr. 2024
Associate Professor at Faculty of Business
Administration, Mejiro University (incumbent)[Significant concurrent positions outside the Company]
Associate Professor at Faculty of Business Administration,
Mejiro University
Director and Economic Analyst at Japan Governance &Valuation InstituteOutside Director (Audit and Supervisory Committee Member)of YAMASHIN-FILTER CORP.
Outside Director of NITTOKU CO., LTD.
[Relationship of special interest in the Company]
There is no special interest between Naruhiko Takatsuji and theCompany.

Number of theCompany’s shares
owned

-8-

–

Number of theCompany’s shares
owned
Reasons for nominating as candidate for Outside Director, expected roles and judging him capable ofappropriately fulfilling duties
Mr. Takatsuji brings to the Company his knowledge and insight as an expert in corporate finance, economic andcorporate analysis, the machinery industry, and investor relations, and also capitalizes on his experience as an outside
director at another company. He has provided helpful advice on the Company’s management strategy from an
independent and objective standpoint. As a chairperson of the Nomination & Remuneration Committee, he has
expressed objective and clear views on the selection and remuneration of candidates for Company office. In addition,
since June 2022, he has contributed to the invigoration and greater efficiency of the Board of Directors proceedings in
his role as Chairperson. As such, the Company requests that he to be reelected as Outside Director so the Group cancontinue to receive advice from him that will contribute to its growth and the improvement of corporate value.
Although he has never been involved in the management of a company other than as an Outside Director, for thereasons stated above, we are confident that he will continue to appropriately perform his duties in that position.
Apr. 1986
Joined IBM Japan Ltd.
June 1992
Earned Master of Business Administration(MBA) from Kellogg School of Management,
Northwestern University
Sep. 1992
Joined Uniden Corporation (currently Uniden
Holdings Corporation)
June 1997
Director of IDS Corporation
July 2005
Established Arc Communications Inc.,
Representative Director (incumbent)
June 2016
Director of Public Relations Society of Japan
Mariko Ohsato
Apr. 2018
Part-time Lecturer at Department of Sport(April 22, 1963)
Sciences, Waseda University
Apr. 2019
Vice President of Japan Orienteering
Reelection
Association
OutsideSep. 2020
Outside Director of Uniden Holdings
Independent
Corporation–
Nov. 2021
Outside Director (Audit and Supervisory
Attendance at Board ofCommittee Member) of Uniden Holdings
Directors meetings in FY2023
Corporation
15/15
June 2022
Outside Director of the Company (incumbent)
June 2022
Director of Japan Rowing Association
Tenure as Outside Director(incumbent)
2 years
June 2023
Outside Director of Nihon M&A Center
Holdings Inc. (incumbent)
June 2023
Director of Baseball Federation of Japan(incumbent)[Significant concurrent positions outside the Company]
Representative Director of Arc Communications Inc.
Outside Director of Nihon M&A Center Holdings Inc.
[Relationship of special interest in the Company]
There is no special interest between Mariko Ohsato and theCompany.
Reasons for nomination as candidate for Outside Director and expected roles
With a proven track record as a corporate manager of business corporations, Ms. Ohsato has extensive experience andknowledge, including as an Outside Director of listed companies and a board member of various organizations. She
capitalizes on this background to contribute to the Company’s decision-making on important management matterswhile also helping to monitor the execution of business. As a member of the Nomination & Remuneration Committee,
she has provided objective and clear opinions on the selection of candidates for the Company’s officers and theappropriateness of their remuneration. The Company also looks forward to her active participation in initiatives toincrease management diversity, including efforts to promote women’s empowerment within the organization.
Accordingly, the Company requests that she be reelected as Outside Director.
1. Mr. Naruhiko Takatsuji and Ms. Mariko Ohsato are candidates for Outside Director.
2. Mr. Takatsuji and Ms. Ohsato satisfy the “Independence Criteria for Outside Directors” stipulated by the Company.

CandidateNo.

5

Notes:

Name(Date of Birth)

Career summary, position and responsibility in the Company-9-3. The Company has entered into agreements with Mr. Takatsuji and Ms. Ohsato to limit their liabilities for damages under
Article 423, paragraph (1) of the Companies Act, pursuant to the provisions of Article 427, paragraph (1) of the Act. The
limit of liability for damages under the agreements is the minimum liability amount stipulated under Article 425, paragraph(1) of the Act. If they are reelected as Director, the Company plans to continue the agreements with them.
4. The Company has entered into a Directors and Officers liability insurance contract with an insurance company, as provided
for in Article 430-3, paragraph (1) of the Companies Act, under which the directors, audit and supervisory board members,
executive officers, and employees in management and supervisory roles of the Company and its subsidiaries are theinsureds. If elected to the Board of Directors, each candidate will be insured under the policy. The said insurance contract
is intended to cover damages, litigation expenses, etc. to be borne by the insured, including Directors and Audit andSupervisory Board Members of the Company, upon a claim for damages filed by a shareholder, third party, etc. Certain
exclusions apply, however, and damages such as those caused by willful misconduct or gross negligence may not becompensated. In addition, the full insurance premium will be paid by the Company. The said insurance contract is planned
to be renewed with the same terms and conditions upon the next renewal.
5. The Company has submitted notifications to the Tokyo Stock Exchange for Mr. Takatsuji and Ms. Ohsato as independent
officers as provided for by the aforementioned exchange. If they are elected as Director, the Company intends to continue
to designate them as independent officers.

- 10 -

<Reference>
Skill matrix of the Board of Directors if Proposal No. 2 is approved as proposed
Attribute, etc.

Category

Name

Experience and knowledge beneficial for
management and business operations

Nomination
Corporate&
management/
Independent
GlobalRemuneraBusinessOutsidetion
strategy
Committee

●
●
●

〇

Tetsuji Morikubo
Takao Murata
Directors

Directors who
are Audit andSupervisory
Committee
Members

Akira Takanashi
Naruhiko Takatsuji〇〇

Mariko Ohsato

〇

〇

〇

Chie Tabata〇

Sales/
Marketing●

Legal/
Financial
Compliance/accountRiskingmanagement

Personnel/
Labor/
Human
resourcesdevelopment

●
●

●

●

●

Minoru Kawano
Tomoo Suzuki

Manufacturing/Technology/
Quality

Experience and knowledge for thefoundation of management

●
●
●
●

●
●

●
●

●
●

●

The Company is adopting an executive officer system. The skills of executive officers who do not serve concurrently
as directors are as follows.

Executive
officers

Tomoki
Katamura－－●

Makoto Kume

－

－

●

Fumio Tsuruma－－

Masahiko Iwaki－－

Hidekazu Okada－－

Hidekazu
Hirokawa

－

－

●

●

●

Tomokazu
Suzuki

－

－

●

●

●

●
●

●

●
●
●

●
●

Midori1.
2.

－－
Moriyama
indicates experience in top company management (including at subsidiaries).

● indicates Company judges that candidate has the required skills for a Director or Executive Officer.

- 11 -●●

Skill set and reason for inclusion
Towards the achievement of the “VC2024 Revival” mid-term business plan and in order to advance efforts aimed atpriority management initiatives and to promote the strengthening of the management foundation, the Company
believes it is necessary for the Board of Directors and the management team to have not only experience andknowledge beneficial for management and business operations but also experience and knowledge related to the
management foundation. Toward this end, we have selected the skills shown below.
Skill set
Corporate management/
Business strategy
GlobalManufacturing/Technology/
Quality
Sales/Marketing
Financial accounting
Legal/Compliance/Riskmanagement
Personnel/Labor/Human
resources development

Reason for inclusion
Necessary for important corporate decision-making, managerial judgment, and formulation of strategy forsustainable growth of the company and enhancement of corporate value over the medium to long term
Necessary for further acceleration of future global expansion
Necessary to enhance sources of added value, namely manufacturing expertise, technical skills and quality andto promote development of new technology and improve capital efficiency by improving productivity
Necessary for achieving sales and further growth through development of new products and markets
Necessary to ensure management soundness, promote strategic investments for growth and realize appropriate
shareholder returns
Necessary to ensure management fairness and transparency, and to appropriately respond to various risks apt tooccur in corporate activities
Necessary for the development of human resources capable of achieving management strategies by formulating
and operating fair and appropriate personnel systems and fostering environments that maximize individual
abilities- 12 -

Policy and Procedure in Nominating Candidates for Director
Candidates are proposed by the Representative Director provided that the following requirements are met, anddetermined by the Board of Directors after deliberation on their eligibility at the Nomination & Remuneration
Committee, a majority of which are independent Outside Directors.
Requirements for Directors
(i)
(ii)
(iii)
(iv)

The person has personality and insight that is appropriate for a director of a listed company
The person has no health issues, both physically and mentally, in performing duties as Director
The person has excellent managerial judgment and management execution capabilities
The person has sufficient experience and knowledge to fulfill duties as Director in relation to the operationsof the Company and its Group(v) The person has abundant expertise/experience and is a talented individual who can contribute to sustainablegrowth of the Company and increase in corporate value over the medium to long term(vi) His/her concurrent assignments as officer at other listed companies are within reasonable limits, allowing
him/her to allocate sufficient time and efforts to businesses as Director of the Company(vii) The person satisfies Independence Criteria for Outside Directors(viii) Independence from a person with responsibility to execute business(ix) Ability to maintain integrity and objectivity(x) At least one Director should preferably have reasonable knowledge on finance and accounting

Note: Among the above, (i) to (iv) are requirements for internal Directors, (i) to (iii) and (v) to (vii) are those for
Outside Directors, and (viii) to (x) in addition to the above mentioned are those for Directors who are Audit andSupervisory Committee Members.
Independence Criteria for Outside Directors
If a person does not fall under any of the below items in addition to meeting the requirements for outside directors
for the purpose of the Companies Act, the Company judges the relevant outside director to have independence withno risk of conflict of interest with general shareholders.
(i)

A person with the current responsibility to execute business*1 of the Company and its affiliates (the Group
hereinbelow), or who has had such responsibility in the past(ii) A party who has the Group as a major trading partner*2 or a person with responsibility to execute businessfor such party(iii) A major trading partner of the Group or a person with responsibility to execute business for such trading
partner(iv) A major shareholder*3 of the Company or a person with responsibility to execute business for suchshareholder(v) A person with responsibility to execute business for a company of which the Group is a major shareholder(vi) A person who belongs to an auditing corporation which acts as Statutory Accounting Auditor of the Company(vii) A lawyer, certified public accountant, tax accountant, or consultant, etc. who receives a large amount*4 ofmoney or other financial benefits other than officers’ remuneration from the Group. Where a relevant person
who receives such benefits is an entity such as a corporation or association, persons who belong to such
entity are included.
(viii) A party who receives a large amount of donations or grants from the Group, or a person with responsibility
to execute business for such party(ix) A financial institution or its affiliated company from which the Group borrows money in excess of 2% of its
consolidated total assets as at the end of the most recent fiscal year, or a person with responsibility to executebusiness for such companies(x) Where a person with responsibility to execute business for the Group concurrently assumes office of outside
officer of another company, a person with responsibility to execute business for such other company or its
affiliates(xi) A person who has fallen under (ii) to (x) in the above during the past three years(xii) Where a person who falls under (i) to (xi) in the above assumes an important post (an officer or employee ina General Manager post or other equivalent positions), his/her spouse and relative within the second degreeof kinship
Notes:*1 A person with responsibility to execute business: executive director, executive officer, officer in charge of theexecution of the operations of other entities, etc., and staff member/employee who executes business- 13 -

*2 Major trading partner: A trading partner where the amount of business with such partner exceeds 2% of its
consolidated sales during the most recent financial year
*3 Major shareholder: A shareholder who possesses 10% or more of voting rights, including direct and indirectownership*4 A large amount: More than ¥10 million a year in the case of an individual, and more than an amount equivalent
to 2% of its annual total revenue in the case of an entity such as a corporation or association- 14 -