The following is an English translation of the Notice of the 18th Ordinary General Meeting ofShareholders of Human Holdings Co., Ltd. The Company provides this translation for yourreference and convenience only and without any warranty as to its accuracy.

Securities Code: 2415
June 9, 2020
To Our Shareholders:Tomonari Sato
Representative Director,President and CEO
Human Holdings Co., Ltd
7-5-25, Nishi-Shinjuku,
Shinjuku-ku, Tokyo
Notice of the 18th Ordinary General Meeting of Shareholders
Dear Shareholder:
Please refer to the below for information about the upcoming the 18th Ordinary
General Meeting of Shareholders of Human Holdings Co., Ltd.
From the perspective of prevention of the COVID-19, please exercise yourvoting rights via the enclosed Voting Rights Exercise Form, and refrain fromattending the meeting on the day of the meeting. Please review the Reference
Document for the General Meeting of Shareholders as described hereinafter,and exercise your voting rights by no later than 6:00 p.m. on June 24(Wednesday), 2020. Please indicate your approval or disapproval for theproposal on the enclosed Voting Rights Exercise Form, and return the form sothat it is received by the above deadline.
1. Date and time:

June 25, 2020 (Thursday) at 10:00 a.m.

2. Place:

Nakano Sun Plaza 13F Cosmo Room
4-1-1 Nakano, Nakano-ku, Tokyo

3. Agenda for the Meeting:
Matters to be Reported:(1) Business Reports and Consolidated Financial Statements forthe 18th term (from April 1, 2019 to March 31, 2020), and Reporton Auditing Results of the Consolidated Financial Statements by
the Accounting Auditor and the Board of Auditors.
(2) Non-consolidated Financial Statements for the 18th term (fromApril 1, 2019 to March 31, 2020)Matters to be Resolved:
1st Proposal: Distribution of Surplus Dividends
2nd Proposal: Payment of Retirement Benefits to Retiring Director－1 －4. Matters Decided Upon Convocation◎ Exercise of Voting Rights by Proxy
If you wish to exercise your voting rights by proxy, you may appoint anothershareholder with voting rights as your proxy. Please note that you can appoint
only one (1) proxy, who must submit a document certifying authority ofrepresentation.
Reference Document for the General Meeting of Shareholders
1st Proposal: Distribution of Surplus Dividends
The Company’s basic policy on surplus dividends is aimed at increasing retained
earnings necessary for future business expansion and strengthening theCompany’s financial structure, as well returning profits to our shareholders inaccordance with business performance in each period and based on acomprehensive consideration of performance trends, etc., by targeting a
consolidated dividend payout ratio of 20%.
On the basis of the above policy and in consideration of future capitalrequirements and other factors, the Company proposes to distribute year-end
dividends for the 18th term as follows:Matters concerning the year-end dividend:(1) Type of asset distributed as dividend: Cash
(2) Matters concerning the assignment of dividend property and the total amountof dividend
The Company proposes a monetary allotment of ¥16.00 per share of Common
Stock in the Company; at a total of ¥174,048,656.
(3) Effective dateJune 26, 2020
2nd Proposal: Payment of Retirement Benefits to Retiring Director
The Company hereby proposes the payment of retirement benefits to Mr.
Kazuomi Moromikawa, who will retire as Director as of the conclusion of theMeeting, in order to reward him for his service while in office, within theacceptable scope in accordance with the Company’s “Rules on the Retirement
Benefits for Directors and Auditors”.
The Company also proposes the decision on the details of payment such as
the actual amount, timing and method of payment be delegated to the Board ofDirectors.
The career summary of the retiring Director is as follows:
NameCareer Summary

Kazuomi Moromikawa

July 2004－2 －Director of the Company (current position)