Note: This document has been translated from 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. The Company assumes no responsibility for the accuracy of this translation.

[Cover page]
Document title:

Extraordinary Report

Place of filing:

Director-General of the Kanto Local Finance Bureau

Filing date:

March 31, 2022

Company name:

ピジョン株式会社 (Pigeon Kabushiki Kaisha)Company name in English:

Pigeon Corporation

Title and name of representative:

Norimasa Kitazawa, President and CEO

Address of registered head office:4-4, Nihonbashi-Hisamatsu-cho, Chuo-ku, Tokyo

Telephone number:+81-3-3661-4200 (Main switchboard)

Name of contact person:

Nobuo Takubo, Managing Officer and Division Manager ofBusiness Strategy Div.

Nearest place of contact:

4-4, Nihonbashi-Hisamatsu-cho, Chuo-ku, Tokyo

Telephone number:+81-3-3661-4369

Name of contact person:

Nobuo Takubo, Managing Officer and Division Manager ofBusiness Strategy Div.

Place for public inspection:

Tokyo Stock Exchange, Inc.
(2-1, Nihonbashi-Kabuto-cho, Chuo-ku, Tokyo)–1–1. Reason for filingAt the 65th Ordinary General Meeting of Shareholders of Pigeon Corporation (the “Company”) held on
March 30, 2022, resolutions of the matters to be resolved were made; therefore, this Extraordinary Reportis filed pursuant to the provisions of Article 24-5, paragraph (4) of the Financial Instruments andExchange Act and Article 19, paragraph (2), item (ix)-2 of the Cabinet Office Order on Disclosure ofCorporate Affairs.

2. Body of report(1) Date of the General Meeting of Shareholders
March 30, 2022
(2) Details of the matters resolved
Proposal 1: Appropriation of Surplus
Year-end dividends1. Type of dividend property: Cash
2. Dividend property allotment and total amount thereof
Dividend per common share of the Company:¥37
Total amount of dividends:¥4,431,127,918
3. Effective date of distribution of dividends from surplus: March 31, 2022
Proposal 2: Partial Amendments to Articles of Incorporation
A portion of the Company’s Articles of Incorporation is amended as below.
(Amendments underlined)
Current Articles of Incorporation

Proposed amendments

CHAPTER 3.
GENERAL MEETING OF SHAREHOLDERS

CHAPTER 3.
GENERAL MEETING OF SHAREHOLDERS

Article 15. (Disclosure via Internet and Deemed
Delivery of Reference Documents, etc. for
General Meetings of Shareholders)Upon convening a General Meeting of Shareholders,the Company may deem that the information
required to be described or indicated in the reference
documents for the General Meeting of Shareholders,business reports, non-consolidated financial
statements and consolidated financial statements
shall have been provided to the shareholders whensuch information is disclosed, pursuant to theOrdinance of the Ministry of Justice, through amethod that uses the Internet.

(Deleted)

Article 15. (Measures for Providing Information inElectronic Format, Etc.)(Newly established)

1. The Company shall, upon convocation of a General
Meeting of Shareholders, take measures to provide
the information that is the contents of Reference
Documents, etc. for General Meetings ofShareholders in electronic format.

–2–Current Articles of Incorporation

Proposed amendments
2. The Company may choose not to include all or partof the items to be provided in electronic format,
which are specified by the Ordinance of theMinistry of Justice, in the paper-based documents
to be delivered to shareholders who requested thedelivery of paper-based documents by the recorddate of voting rights.

CHAPTER 4.
DIRECTORS AND BOARD OF DIRECTORSCHAPTER 4.
DIRECTORS AND BOARD OF DIRECTORS

Article 18. (Number of Directors)

Article 18. (Number of Directors)

The number of Directors of the Company shall bethirteen (13) or less.

The number of Directors of the Company shall beeleven (11) or less.

Article 20. (Term of Office of Directors)

Article 20. (Term of Office of Directors)

1. The term of office of a Director shall expire uponconclusion of the Ordinary General Meeting ofShareholders to be held for the last business year
ending within two (2) years after his or her election.

1. The term of office of a Director shall expire uponconclusion of the Ordinary General Meeting ofShareholders to be held for the last business year
ending within one (1) year after his or her election.

2.

2.

(Omitted)(No change)
Supplementary Provisions

Article 1.

(Newly established)(Transitional Measures Concerning
Provision of Information Materials for
General Meetings of Shareholders inElectronic Format)

1. The deletion of current Article 15 (Disclosure via
Internet and Deemed Delivery of Reference
Documents, etc. for General Meetings ofShareholders) and the establishment of new Article
15 (Measures for Providing Information inElectronic Format, Etc.) of the proposed
amendments shall become effective as of the dateof enforcement of the revised provisions set forthin the proviso to Article 1 of the Supplementary
Provisions of the Act Partially Amending theCompanies Act (Act No. 70 of 2019) (hereafter, the“Date of Enforcement”).
2. Notwithstanding the provision of the preceding
paragraph, Article 15 of the current Articles ofIncorporation shall remain in force with respect toany General Meeting of Shareholders to be held ona date within six (6) months of the Date ofEnforcement.
3. These Supplementary Provisions shall be deleted
after either six (6) months have elapsed from theDate of Enforcement or three (3) months haveelapsed from the date of the General Meeting ofShareholders set forth in the preceding paragraph,
whichever is later.

–3–

Proposal 3: Election of Ten (10) Directors
To elect the following ten (10) persons, namely Mr. Shigeru Yamashita, Mr. Norimasa
Kitazawa, Mr. Tadashi Itakura, Mr. Yasunori Kurachi, Mr. Kevin Vyse-Peacock, Mr.
Takayuki Nitta, Mr. Rehito Hatoyama, Ms. Chiaki Hayashi, Ms. Eriko Yamaguchi, andMs. Yumiko Miwa as Directors.
Proposal 4: Election of One (1) Audit & Supervisory Board Member
To elect Mr. Koji Ishigami as Audit & Supervisory Board Member.
(3) Number of voting rights exercised as the manifestation of the intention of approval, disapproval orabstention for the matters for resolution; requirement for adoption thereof; and resolution results
thereofMatters for resolution
Proposal 1
Appropriation of Surplus
Proposal 2
Partial Amendments to Articlesof Incorporation
Proposal 3
Election of Ten (10) Directors

Approved

Disapproved

AbstainedRequirement
for Adoption

Resolution Resultand Approval Ratio

977,8852,4311(Note 1)

Approved, 99.58%

979,5707461(Note 2)

Approved, 99.75%

Shigeru Yamashita

974,6865,6291(Note 3)

Approved, 99.26%

Norimasa Kitazawa

974,397

5,917

1

Approved, 99.23%

Tadashi Itakura

974,9705,345

1

Approved, 99.29%

Yasunori Kurachi

974,8775,4381

Approved, 99.28%

Kevin Vyse-Peacock975,051

5,264

1

Approved, 99.29%

Takayuki Nitta

975,4544,861

1

Approved, 99.33%

Rehito Hatoyama

975,6294,686

1

Approved, 99.35%

Chiaki Hayashi

975,706

4,609

1Approved, 99.36%

Eriko Yamaguchi

975,7234,592

1

Approved, 99.36%

Yumiko Miwa

977,5432,772

1

Approved, 99.55%

Proposal 4
Election of One (1) Audit &Supervisory Board Member

898,00382,29515(Note 3)

Approved, 91.45%

Koji Ishigami

Notes: 1. The requirement for adoption of the proposal is approval by a majority of the votes ofshareholders present who are entitled to exercise voting rights.
2. The requirement for adoption of the proposal is approval by two-thirds (2/3) or more of thevotes of shareholders present at the meeting where the shareholders holding one-third (1/3)
or more of the voting rights of the shareholders entitled to exercise voting rights are present.
3. The requirement for adoption of the proposal is approval by a majority of the votes ofshareholders present at the meeting where the shareholders holding one-third (1/3) or moreof the voting rights of the shareholders entitled to exercise voting rights are present.

–4–(4) Reason why a portion of the number of voting rights of the shareholders present at the meeting
was not included in the number of voting rights
The sum of the number of voting rights exercised by the date immediately before the date of theGeneral Meeting of Shareholders and the number of voting rights of a part of the shareholders
present at the General Meeting of Shareholders in person whose intention of approval ordisapproval for each proposal was confirmed satisfied the requirement for adoption of each
proposal, and the resolutions have been adopted pursuant to the Companies Act. Therefore, thenumber of voting rights of the shareholders present at the General Meeting of Shareholders inperson whose intention of approval, disapproval or abstention was not confirmed has not been
included in the calculation.

–5–