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. The Company assumes noresponsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

Securities Code: 1814
June 7, 2021
To our shareholders:Kazunori Murao, President & Representative Director
DAISUE CONSTRUCTION CO., LTD.
2-5-28 Kyutaro-machi, Chuo-ku, Osaka-shi, Osaka

Notice of the 75th Annual General Meeting of Shareholders
Please be notified that the 75th Annual General Meeting of Shareholders of DAISUE CONSTRUCTION CO.,LTD. (the “Company”) will be held as indicated below.
If you do not wish to attend the meeting in person, you may exercise your voting rights in writing or via theInternet, etc. Please review the attached Reference Documents for the General Meeting of Shareholders andexercise your voting rights by 5:30 p.m. on Thursday, June 24, 2021 (JST).
1. Date and Time: Friday, June 25, 2021, at 10:00 a.m. (JST)(The venue opens at 9:00 a.m.)
2. Venue:
9th floor Conference Room, Head Office of the Company
2-5-28 Kyutaro-machi, Chuo-ku, Osaka-shi, Osaka
3. Purpose of the Meeting:
Matters to be reported:
1. Reports on the Business Review and the Consolidated Financial Statements for the 75th fiscal year (fromApril 1, 2020 to March 31, 2021), and report by the Financial Auditor and the Audit and Supervisory
Committee on the results of audits of the Consolidated Financial Statements.
2. The Non-consolidated Financial Statements for the 75th fiscal year (from April 1, 2020 to March 31, 2021)
Matters to be resolved:Proposal
Election of Eight Directors (Excluding Directors who are Audit and SupervisoryCommittee)- If you attend the meeting in person, please submit the enclosed voting form at the reception desk.
- Of the documents attached to this Notice, based on laws and regulations and in accordance with the provisions of the Company’s
Articles of Incorporation, the items below are provided on the Company’s website (https://www.daisue.co.jp/) (in the Japanese
language only) and are therefore not included in the attachments to this Notice of the General Meeting of Shareholders.
1. Consolidated Statement of Changes in Equity
2. Non-consolidated Statement of Changes in Equity
3. Notes to the Consolidated Financial Statements
4. Notes to the Non-consolidated Financial Statements
The Consolidated Financial Statements and Non-consolidated Financial Statements audited by the Audit and Supervisory
Committee in preparing their audit report and by the Financial Auditor in preparing its financial audit report include, in addition tothe contents of the documents herein attached, items to be presented as the Consolidated Statement of Changes in Equity, Nonconsolidated Statement of Changes in Equity, Notes to the Consolidated Financial Statements, and Notes to the Non-consolidated
Financial Statements.
- If any revisions are made to the contents of the Business Report, the Consolidated Financial Statements, the Non-consolidated
Financial Statements or the Reference Documents for the General Meeting of Shareholders, the revisions will be posted on theCompany’s website (https://www.daisue.co.jp/).

-1-Reference Documents for General Meeting of Shareholders
Proposal and Reference Information[Proposal] Election of Eight Directors (Excluding Directors Who Are Audit and Supervisory Committee)
The terms of office of all eight Directors (excluding Directors who are Audit and Supervisory Committee; thesame applies in this proposal) will expire upon the conclusion of this General Meeting of Shareholders.
Accordingly, the Company hereby requests the appointment of eight Directors.
A review by the Audit and Supervisory Committee found no matters requiring special mention.
The candidates for the positions are as follows:
CandidateNo.

NamePosition

1

Kazunori Murao

Reappointed

2
3
4

Nobuhiro Maeda
Hidehiro Gokon
Motohiro Kataoka

5

Koichiro Tsuru

6

Kunihiro Kamiya

7

Tetsuya Sakuo

8

Tetsu Sato

Reappointed
Reappointed
Reappointed
Newly
appointed
Reappointed
OutsideIndependent
Reappointed
OutsideReappointed
OutsidePresident & Representative Director, ExecutivePresident
Director, Executive Vice President
Director, Executive Vice President
Director, Executive Officer

Number of Board ofDirectors meetings
attended
15/15
15/15
15/15
14/15

Executive Officer–

Outside Director

15/15

Outside Director

13/15

Outside Director

14/15-2-Candidate
No.

Name(Date of birth)

Career summary, position and responsibility in the Company,and significant concurrent positions outside the Company
Apr. 1988
Apr. 2010
Apr. 2012

Kazunori Murao(January 24, 1965)
Reappointed
1Apr. 2013
Apr. 2015
June 2015
Apr. 2018
Apr. 2019
Apr. 2020

Joined the Company
Leader of West Japan Technology Group
General Manager of Building Work
Department, Osaka Head Office
Executive Officer
General Manager of Osaka Head Office and incharge of Nagoya Branch
Director
Managing Executive Officer
General Manager of Tokyo Head Office
President & Representative Director (currentposition)
Executive President (current position)

Number of theCompany’s shares
owned

6,551 shares[Reasons for appointment]
Kazunori Murao has a wealth of experience and advanced knowledge relating to the Company’s operations through hisservice as President & Representative Director. In addition, he has been engaged in corporate management as a Directorof the Company since 2015, appropriately fulfilling his duties. Therefore, the Company considers him suitably qualified
as a Director of the Company and has nominated him once again as a candidate for Director.

-3-Candidate
No.

Name(Date of birth)

Career summary, position and responsibility in the Company,and significant concurrent positions outside the Company
Apr. 1972
Apr. 2008

Apr. 2009

Apr. 2011
Jan. 2012
Apr. 2012
Apr. 2013
Nobuhiro Maeda(August 14, 1953)

Apr. 2015
June 2015

Reappointed
2Oct. 2015

Apr. 2016

Apr. 2017
May 2017
Apr. 2018
Apr. 2020

Joined the Company
Deputy General Manager of Osaka
Construction Business Department,
Construction Business Division
Executive Officer
In charge of Production Management
Department
General Manager of Osaka Condominium
Business Department
Leader of West Japan Technology Group
General Manager of Technology Department,
Osaka Head Office
In charge of Safety and Environmental Quality
Department
In charge of General Affairs Department(current position)
Director (current position)
Director of Daisue Service, Inc. (current Daisue
Technoservice, Inc.)
In charge of Human Resources Department(current position) and Audit Department of theCompany
Managing Executive Officer
In charge of Safety and Environment
Department and Production Management
Department
In charge of CS Department
In charge of Systems Department
Senior Managing Executive Officer
Executive Vice President (current position)
In charge of Systems Department (currentposition)

Number of theCompany’s shares
owned

5,500 shares[Reasons for appointment]
Nobuhiro Maeda has a wealth of experience and advanced knowledge relating to the Company’s operations, having
been in charge of units such as the management, sales and technology departments. In addition, he has been engaged incorporate management as a Director of the Company since 2015, appropriately fulfilling his duties. Therefore, theCompany considers him suitably qualified as a Director of the Company and has nominated him once again as a
candidate for Director.

-4-Candidate
No.

Name
(Date of birth)

Career summary, position and responsibility in the Company,and significant concurrent positions outside the Company
July 1987
Mar. 2009

Apr. 2009

Apr. 2010
Apr. 2012
Hidehiro Gokon(June 15, 1960)

Apr. 2013

Reappointed3June 2013
Apr. 2015
Jan. 2019
Apr. 2019

Apr. 2020

4Joined the Company
General Manager of Tokyo Construction
Business Department, Construction Business
Division
Executive Officer
Deputy General Manager of Construction
Business Division
General Manager of Tokyo Construction
Business Department
General Manager of Construction SalesDepartment, Tokyo Head Office
General Manager of Osaka Head Office, incharge of Nagoya Branch, and General
Manager of Development Business
Department, Osaka Head OfficeDirector (current position)
General Manager of Tokyo Head Office
Managing Executive Officer
General Manager of Osaka Head Office(current position) and in charge of Nagoya
Branch (current position)
Executive Vice President (current position)
In charge of Sales Headquarters (currentposition) and Manager of the Sales
Headquarters (current position)

Number of theCompany’s shares
owned

3,600 shares[Reasons for appointment]
Hidehiro Gokon has a wealth of experience and advanced knowledge relating to the Company’s operations, having
been in charge of units such as the sales department. In addition, he has been engaged in corporate management as a
Director of the Company since 2013, appropriately fulfilling his duties. Therefore, the Company considers him suitably
qualified as a Director of the Company and has nominated him once again as a candidate for Director.
Apr. 1989
Joined The Sanwa Bank, Limited (currentMUFG Bank, Ltd.)
Jan. 2015
General Manager of Tamatsukuri Branch Office
May 2018
Executive Officer of the Company (currentMotohiro Kataokaposition)(August 11, 1965)
In charge of Management Strategy Department
1,300 shares(current position) and CSR Promotion Office
Reappointed
June 2019
Director (current position)
Apr. 2020
In charge of Audit & Supervisory Department(current position) and Start-up StrategyDepartment (current position)[Reasons for appointment]
Motohiro Kataoka has broad financial knowledge and a wealth of experience gained through his service at a financialinstitution. As a Director of the Company since 2019, he has been in charge of Management Strategy Department,appropriately fulfilling his duties. Therefore, the Company considers him suitably qualified as a Director of theCompany and has nominated him once again as a candidate for Director.

-5-Candidate
No.

Name(Date of birth)

Career summary, position and responsibility in the Company,and significant concurrent positions outside the Company
Apr. 1988
Mar. 2010

Koichiro Tsuru(October 6, 1963)
Newly appointed5Apr. 2013

Oct. 2017
Apr. 2020

Joined the Company
General Manager of Tokyo Renewal BusinessDepartment
Executive Officer, General Manager ofConstruction Sales Department, Tokyo HeadOffice
Executive Officer, General Manager ofBuilding Work Department, Tokyo Head Office
Executive Officer, General Manager of Tokyo
Head Office (current position) and Deputy
General Manager of Sales Division

Number of theCompany’s shares
owned

2,500 shares[Reasons for appointment]
Koichiro Tsuru has a wealth of experience and advanced knowledge relating to the Company’s operations, having beenin charge of units such as the sales department. In addition, he has been engaged in corporate management as an
Executive Officer and General Manager of Tokyo Head Office of the Company since 2020, appropriately fulfilling hisduties. Therefore, the Company considers him suitably qualified as a Director of the Company and has nominated him
as a new candidate for Director.

-6-Candidate
No.

Name(Date of birth)

Career summary, position and responsibility in the Company,and significant concurrent positions outside the Company
Apr. 1968
Apr. 1999
Apr. 2000
June 2002

6

Number of theCompany’s shares
ownedJoined Hitachi, Ltd.
General Manager of Accounting Center
General Manager of Financial Department
COO of Information and CommunicationGroup and General Manager of E–Solution
Promotion Division
Oct. 2004
Representative Director and Chairman ofHitachi-Omron Terminal Solutions, Corp.
Mar. 2007
Resigned as Representative Director andChairman
June 2007
Director of Hitachi Maxell, Ltd. (currentlyMaxell Holdings, Ltd.), and Chair of the Audit
GroupKunihiro Kamiya
Oct. 2008
Member of the Accounting Board of Japan(August 16, 1944)
Audit & Supervisory Board Members
4,200 shares
Association
Reappointed
June 2009
Expert Committee Member of the Fundamental
OutsideMatters Examination Committee
IndependentJune 2010
Resigned as Director of Hitachi Maxell, Ltd.
(currently Maxell Holdings, Ltd.)
Oct. 2010
Resigned as Expert Committee Member of theFundamental Matters Examination Committeeand Member of the Accounting Board of Japan
Audit & Supervisory Board Members
Association
June 2011
Outside Audit & Supervisory Board Member ofAnritsu Corporation
June 2014
Outside Director of the Company (currentposition)
June 2015
Resigned as outside Audit & Supervisory Board
Member of Anritsu Corporation[Reasons for appointment and outline of expected role]
Kunihiro Kamiya has a wealth of experience and broad insight as a manager through his duties as a director and audit &supervisory board member of other companies, and has been appropriately performing his duties as an outside Directorof the Company since 2014. Therefore, the Company considers him suitably qualified as an outside Director of theCompany and has nominated him once again as a candidate for an outside Director. If he is elected, he will be involved
as a chairperson of the Remuneration Advisory Committee and a member of the Nomination Advisory Committee froman independent standpoint in the selection of candidates for the Company’s board of directors and decisions on
remuneration, etc.

-7-CandidateNo.

Name(Date of birth)

Career summary, position and responsibility in the Company,and significant concurrent positions outside the Company
Sept. 1981
June 2006

7Number of theCompany’s shares
ownedJoined the former Misawa Homes Co., Ltd.
Executive Officer and General Manager of
Product Development Department of Misawa
Homes Co., Ltd.
June 2012Managing Executive Officer, Deputy General
Manager of Overall Stock Business and Sales
Promotion Division, and General Manager ofStock Business Division
Apr. 2014
General Manager of Product Development
Division
June 2014
Director of Misawa Homes Co., Ltd. (currentposition)
Director of Misawa Homes Chugoku Co., Ltd.
(current position)
Apr. 2016
In charge of Product Development andTechnology of Misawa Homes Co., Ltd.
Tetsuya Sakuo(August 13, 1955)
June 2016
In charge of Overall Product Development,
800 sharesTechnology, Design and Construction (currentReappointedposition)
OutsideApr. 2017
In charge of Overall Overseas Business
Operation
Apr. 2018
Senior Managing Executive Officer (currentposition)
June 2018
Outside Director of the Company (currentposition)
Apr. 2019
In charge of Overall Quality, Production andProcurement in CS Division (current position)and deputy in charge of Overseas Business
Operation (current position) of Misawa HomesCo., Ltd.
Representative Director and President of MA
Refining Systems co., LTD (current position)
June 2019
Representative Director and Executive
President of TECHNO FACTORIES AND
CONSTRUCTION Co., Ltd. (current position)[Reasons for appointment and outline of expected role]
Tetsuya Sakuo has a wealth of experience and broad insight as a manager through his duties as a director of othercompanies, and has been appropriately performing his duties as an outside Director of the Company since 2018.
Therefore, the Company considers him suitably qualified as an outside Director of the Company and has nominated him
once again as a candidate for an outside Director. In addition, the Company expects him to make useful proposals, etc.
in the sales and technology departments to achieve the full effect of the business alliance.

-8-Candidate
No.

Name
(Date of birth)

Career summary, position and responsibility in the Company,and significant concurrent positions outside the Company

Number of theCompany’s shares
ownedApr. 1992
Apr. 2006

8Notes:

1.
2.
3.

4.

5.

6.

Joined the former Misawa Homes Co., Ltd.
General Manager of Asset Utilization
Department of Misawa Homes Higashi–KantoCo., Ltd.
Apr. 2017
General Manager of Development Business
Department of Misawa Homes Co., Ltd.
Dec. 2017
Director of Fujigaoka Ikiiki Koryu Special–
Purpose Company
June 2018
Outside Director of the Company (currentposition)
Tetsu SatoOct. 2018
Executive Officer of Misawa Homes Co., Ltd.
(August 20, 1967)(current position)–
In charge of Stock Promotion (current position)
Reappointed
and General Manager of Development BusinessOutsideDivision of the Company (current position)
Director of MISAWA HOMES Real estate CO.,LTD. (current position)
Apr. 2019
In charge of Development Business of theCompany (current position)
Director of MA Refining Systems co., LTD.
(current position)
Apr. 2021
General Manager of Eastern Shizuoka
Prefecture Project of the Company (currentposition)[Reasons for appointment and outline of expected role]
Tetsu Sato has a wealth of experience and broad insight as a manager through his service as a director and an executive
officer of other companies, and he has been engaged in corporate management as an outside Director of the Company
since 2018, appropriately fulfilling his duties. Therefore, the Company considers him suitably qualified as an outside
Director of the Company and has nominated him once again as a candidate for an outside Director. In addition, theCompany expects him to make useful proposals, etc. in the sales department to achieve the full effect of the businessalliance.
There is no special interest relationship between any of the candidates above and the Company.
Kunihiro Kamiya, Tetsuya Sakuo and Tetsu Sato are candidates for outside Director.
The Company has entered into limited liability agreements with Kunihiro Kamiya, Tetsuya Sakuo and Tetsu Sato asprovided for in Article 427, paragraph (1) of the Companies Act, and the amount of the liability limitation under said
agreements is the minimum liability amount stipulated by laws and regulations. Upon the approval of theirreappointment, the Company plans to continue such agreements with them.
The Company has entered into a directors and officers liability insurance agreement with an insurance company asprovided for in Article 430–3, paragraph (1) of the Companies Act, and the insurance policy will cover any
compensation for damages resulting from the insured person, including the Director of the Company, being liable aswell as damages caused by disputes and litigation expenses. If each candidate is elected and assumes office as aDirector, they will become an insured person under this insurance agreement.
Furthermore, Kunihiro Kamiya satisfies the requirements for an independent officer as provided for by Tokyo Stock
Exchange, and also satisfies the Company’s independence standards, and the Company has submitted notification to theaforementioned exchange concerning his designation as an independent officer. Upon the approval of his reappointment,
the Company plans for his designation as an independent officer to continue. At the conclusion of this meeting, histenure as an outside Director of the Company will have been seven years.
At the conclusion of this meeting, the tenure of Tetsuya Sakuo and Tetsu Sato as outside Directors of the Company will
have been three years each.
The Company’s independence standards are as set forth below.

* Independence standards for independent outside Directors
The Company has established independence standards for outside Directors of the Company as follows to ensure thenecessary objectivity and transparency for appropriate corporate governance of the Company. When an outside Director
falls under any of the following items, they are deemed not to have sufficiently satisfied the Company’s requirements forindependence.

-9-(1) A person from the Company and its consolidated subsidiaries (hereinafter the “Group”). (A person from the Group
refers to a person who has been employed or otherwise served in the Group within the past ten years of assuming
position as Director of the Company.)(2) A major shareholder, defined as holding 10% or more of the total number of voting rights of the Company, or aperson who executes the business of an entity that is a major shareholder.
(3) A person who executes the business of an entity that is a major trading partner of the Group whose transactions
with the Company make up more than 3% of the Company’s consolidated sales.
(4) A professional such as a consultant, accountant, or attorney who receives a large amount (over ¥10 million) ofmoney or other property from the Group.
(5) A person who receives donations of a large amount (over ¥10 million) from the Group.
(6) A major lender of the Group (over 5% of consolidated net assets) or a person who executes the business of such anentity (including all such persons who have executed business of the entity in within the past ten years of assuming
position as Director of the Company).
(7) A person whose close relative (within the second degree of kinship) falls under any of the above items (1) to (6).
(8) A person who, at any time in the last five years, fell under any of the above items (2) to (5).
(9) A person who, irrespective of whether they fall under any of the above items, can be reasonably judged unable tofulfill duties as an outside Director from an independent standpoint from the Company.

- 10 -

[Reference]
Diversity of the Board of Directors (if the proposal is approved)
Candidate No. ofDirectors(excluding Directors
who are Audit andSupervisoryCommitteeMembers)

Name

1Kazunori Murao●

2Nobuhiro Maeda●

3Hidehiro Gokon●

4Motohiro Kataoka●

5Koichiro Tsuru●

6Kunihiro Kamiya●

7

Tetsuya Sakuo

●

●

●

8Tetsu Sato

●

●

●

Knowledge and experience expected by the Company*OutsideIndependence(outside only)

Corporate Finance andLegalmanagement accounting compliance

●

●

●

●

●

●SalesTechnology●

●

●

●

●

●

●
●

●

* The above list does not represent all the knowledge and experience of the candidates.

- 11 -●

IT●●●●●