Note: This document has been translated from the Japanese original for reference purposes only. In theevent of any discrepancy between this translated document and the Japanese original, the original shallprevail.

September 28, 2017
To Shareholders:Ryuichi Arimoto
Representative Director and President
NIPPON KOEI CO., LTD.
(Registered Office)(Main Office)4, Kojimachi 5-chome, Chiyoda-ku, Tokyo
14-6, Kudankita 1-chome, Chiyoda-ku,
Tokyo

RESOLUTIONS OF
THE 73RD ANNUAL GENERAL MEETING OF SHAREHOLDERS
Dear Shareholders:
We would like to express our appreciation for your continued support and patronage.
The following matters were resolved at the 73rd Annual General Meeting of Shareholders of NIPPONKOEI CO., LTD. (the “Company”).
Matters reported:
1. The Business Report, Consolidated Financial Statements and Nonconsolidated Financial
Statements for the Company’s 73rd Fiscal Year (July 1, 2016 - June 30, 2017)
2. Results of audits by the Accounting Auditor and the Audit & Supervisory Board of theConsolidated Financial Statements
The Business Report, Consolidated and Nonconsolidated Financial Statements, and results ofaudits were reported as described above.
Proposals resolved:Proposal 1: Election of 11 Directors
The proposal was approved and resolved as originally proposed, and 7 Directors, Messrs.
Noboru Takano, Akira Mizukoshi, Ryuichi Arimoto, Hiroyuki Akiyoshi, Hideyuki Sakunaka,Hiizu Ichikawa and Kazumasa Kusaka were reelected, and 4 Directors, Messrs. Takayasu
Tsuyusaki, Haruhiko Kanai, Hiroaki Shinya and Yasushi Hirusaki were newly elected, andassumed their respective offices.
Proposal 2: Election of 1 Audit & Supervisory Board Member
The proposal was approved and resolved as originally proposed, and Ms. Yoshiko Koizumi
was newly elected and assumed office.
Proposal 3: Election of 1 Substitute Audit & Supervisory Board Member
The proposal was approved and resolved as originally proposed, and Mr. Hideaki Sudo waselected as substitute Audit & Supervisory Board Member in preparation of a shortage in thenumber of Audit & Supervisory Board Members stipulated in the laws and regulations.
Proposal 4: Determination of Compensation for Allotting Restricted Stock to Directors
The proposal was approved and resolved as originally proposed, and it was decided to set thetotal amount of monetary compensation payable to Directors of the Company other than
Outside Directors as compensation related to Restricted Stock as “not exceeding an annual
amount of 60 million yen.”
Proposal 5: Payment of Retirement Benefits to Retiring Director
The proposal was approved and resolved as originally proposed.

In addition, the following Representative Directors and Directors with title were elected at the Board ofDirectors held after the conclusion of the Annual General Meeting of Shareholders and assumed theirrespective offices. The new structure of officers including Executive Officers is as follows.

Representative Directorand Chairman
Director andVice Chairman

Director and Executive
Noboru Takano(promoted) Officer
Director and Executive
Akira Mizukoshi(promoted) Officer

Representative Directorand President

Ryuichi Arimoto

Director(Outside Director)

Hiizu Ichikawa

Representative Directorand Senior Managing
Executive Officer

Hiroyuki Akiyoshi

Director(Outside Director)

Kazumasa Kusaka

Director and Managing
Executive Officer

Full-time Audit &Takayasu Tsuyusaki
Supervisory Board Member(newly elected)

Director and Managing
Executive Officer

Full-time Audit &Supervisory Board Member
Haruhiko Kanai
Izumi Arai(newly elected) (Outside Audit & Supervisory
Board Member)

Director and ExecutiveOfficer

Hideyuki Sakunaka

Audit & Supervisory BoardMember
Yoshiko Koizumi(Outside Audit & Supervisory(newly elected)
Board Member)

Senior Managing
Executive Officer

Takashi Karasaki

Executive Officer

Kevin Tynes

Senior Managing
Executive Officer

Yoshikimi Inoue

Executive Officer

Akimitsu Arai

Senior Managing
Executive Officer

Masanao Nishimura

Executive Officer

Hitoshi Nagasaki

Senior Managing
Executive Officer

Takashi Seki

Executive Officer

Hiroshi Matsuda

Haruyoshi Takura

Executive Officer

Toshikazu Kambara

Hiroyuki Kasahara

Executive Officer

Hiroshi YokotaShuichi Ueda

Executive Officer

Hiroyuki Yamate

Executive Officer

Masanobu Sakamoto

Executive Officer

Ken Nishino

Executive Officer

Yasushi Sugo

Executive Officer

Noriyuki Nakashima

Executive Officer

Noriaki Yoshida

Managing Executive
OfficerManaging Executive
OfficerManaging Executive
Officer

Hiroaki Shinya(newly elected)
Yasushi Hirusaki(newly elected)

Toshiaki Shimizu