[Translation]

This document has been translated from the Japanese original for the convenience of non-Japanese shareholders.
In the event of any discrepancy between this document and the Japanese original, the original shall prevail.

Securities code: 2109
June 4, 2018
To our shareholders:
Daisuke Saiga
President and CEO
Mitsui Sugar Co., Ltd.
36-2, Nihonbashi-Hakozakicho,
Chuo-ku, TokyoNOTICE OF THE 94th
ORDINARY GENERAL MEETING OF SHAREHOLDERS
You are cordially invited to attend the 94th Ordinary General Meeting of Shareholders of Mitsui
Sugar Co., Ltd. (the “Company”). The Meeting will be held as described hereunder.
If you are unable to attend the meeting in person, you may exercise your voting rights by using oneof the following methods. Please review the “Reference Documents for the Ordinary General
Meeting of Shareholders” and exercise your voting rights no later than 5:30 p.m. on Monday, June25, 2018 as described hereafter.
[Voting in Writing]
Please indicate your approval or disapproval in respect of the proposals on the enclosed Voting
Rights Exercise Form and sent the form back so that it reaches us by no later than the above
mentioned exercise date.
[Voting via the Internet]
Please review the “Procedures of Exercise Voting Rights via the Internet” as described hereafter(Japanese only) and exercise your voting rights no later than the above mentioned exercise date.

Meeting Details
1. Date and Time:

Tuesday, June 26, 2018 at 10:00 a.m. (Japan Standard Time)(The reception desk will open at 9:00 a.m.)

2. Venue:

Yamabuki (4F)
Palace Hotel Tokyo
1-1-1 Marunouchi, Chiyoda-ku, Tokyo-1-

[Translation]

3. Purpose:
Items to be reported:
1. Business Report and Consolidated Financial Statements for the 94th Fiscal year
from April 1, 2017 to March 31, 2018 as well as audit results of Accounting
Auditor and the Audit & Supervisory Board for the Consolidated Financial
Statements
2. Non-Consolidated Financial Statements for the 94th Fiscal Year (from April 1,2017 to March 31, 2018)
Items to be resolved:
Appropriation of Surplus
Proposal 1:
Election of eight (8) Directors
Proposal 2:
Election of two (2) Audit & Supervisory Board Members
Proposal 3:-2-

[Translation](Attached materials)

Business Report(From April 1, 2017 to March 31, 2018)
Overview of the corporate group
1. Business progress and results(1) Operating environment
In fiscal 2017, the Japanese economy recovered at a moderate pace amid an improvement in corporate earnings
and employment conditions, supported by economic and monetary policies implemented by the government andthe Bank of Japan. There were also signs of a pickup in consumer spending amid an upward trend in real wages.
However, the outlook remained unclear due to political and economic developments in the United States andother countries.
Against this backdrop, the Mitsui Sugar Group worked toward the completion of its sixth medium-term
management plan, “Mitsui Sugar Revolution Phase 3 – The Road to 2022” (April 2016 to March 2018), steadily
implementing a range of initiatives under the plan. Based on those initiatives, performance in each businesssegment was as follows.
(2) Summary of the Mitsui Sugar Group(Sugar Business)
In the overseas crude sugar market, prices started the period at the high-16 cents per pound level before falling
sharply to the mid-12 cents level at end-June amid forecasts that global supply-demand conditions would ease.
From July to December, the sugar price fluctuated between 13 cents and the mid-15 cents level but fell sharply
from January, reflecting strong production in India and Thailand – two major producing countries – and growing
expectations that global supply-demand conditions would ease further. In March, the price fell to the low-12
cents level, the lowest price since September 2015, ending the fiscal year at that level. In Japan, retail prices forsugar started the fiscal year at around 195–196 yen per kg but then fell to around 189-190 yen during the year
amid declining crude sugar prices overseas, ending the fiscal year at that level. Against that market backdrop, theCompany worked to procure crude sugar at appropriate prices.
In production activities, the Company worked to improve unit costs by controlling manufacturing processes tomatch the quality of crude sugar procured from different producing regions. However, variable manufacturingcosts rose slightly due to an increase in fuel prices and fixed manufacturing costs also increased year on year,
mainly reflecting maintenance work to ensure stable operations.
In sales activities, shipments to beverage makers were weak due to poor summer weather, and the downward
trend in home-use sugar sachets continued, leading to a drop in sales volume year on year. However, theCompany focused on ensuring its products were sold in appropriate price brackets. In product development, we
responded to calls from ordinary consumers for greater convenience, such as designing a new small-volume
stand-up pouch with a resealable zipper for refined sugar and soft brown sugar products. The new packaging
went on sale in East Japan.
Despite rising production and sales volume at Showa Sugar Co., Ltd., consolidated subsidiaries performed
poorly overall, largely reflecting a drop in sales volume at Hokkaido Sugar Co., Ltd. and Hiranoya Corporation.
As a result, net sales of the Sugar Business amounted to 83,857 million yen (down 2.8% year on year) andoperating income was 4,423 million yen (up 13.1% year on year).
Sugar market status during period
Domestic market price (listed in Nippon Keizai Shimbun, per kilogram of a large bag of superfine sugar, Tokyo)
Opening priceHighest price

Lowest price

Closing price195-196 yen

195-196 yen

189-190 yen

189-190 yen-3-[Translation]

Overseas crude sugar price (NY sugar current delivery, per pound)
Opening priceHighest price

Lowest price

Closing price16.93 cents

17.18 cents

12.18 cents

12.35 cents(Food Science Business)
In the Food Science Business, sales were slightly weak in the palatinose and palatinit category, but operating
income increased year on year, mainly due to a decline in selling, general and administrative expenses. The
Company also worked to spur demand for its food science products. Initiatives included teaming up with leading
department stores and sweets makers to develop and sell Japanese-style sweets containing slow calorie sugar, atype of sweetener with characteristics similar to sugar. The Company also ran health and nutrition seminars
about “TEKITOU SEIKATSU” (promotion for suitable daily sugar consumption) and promoted the benefits ofappropriate levels of exercise coupled with carbohydrate intake for extending healthy life expectancy.
Consolidated subsidiaries reported higher sales and profits year on year, supported by rising sales volume at
Taisho Technos Co., Ltd. and expansion at Nutri Co., Ltd., which acquired a business at the start of the fiscal
year.
As a result, net sales in the Food Science Business increased 28.9% year on year to 19,574 million yen, while
operating income increased 85.4% to 1,053 million yen.
(Real Estate Business)
In the Real Estate Business, sales and profits both increased from the previous fiscal year, supported by rental
income from a new logistics center in Okayama, which was completed in the previous fiscal year, and stable
power generation at a large-scale solar facility. As a result, net sales increased 9.6% year on year to 1,860
million yen and operating income rose 19.1% to 877 million yen.
As a result of the above, net sales in fiscal 2017 increased 2.0% year on year to 105,291 million yen andoperating income increased 21.8% to 6,354 million yen.
In non-operating income and expenses, the Company booked royalty income of 7,974 million yen but recorded
share of loss of entities accounted for using equity method, mainly reflecting a deterioration in earnings ataffiliates in Thailand due to weak prices in the overseas crude sugar market. As a result, ordinary income
increased 8.9% year on year to 13,609 million yen and profit attributable to owners of parent rose 11.1% to8,313 million yen.
Net sales by business segment
Business segment

Net sales

Component ratio
Million yen

Sugar Business
Food Science Business
Real Estate Business
Total

83,857
19,574
1,860
105,291

%
83.6
14.7
1.7
100.0

2. Issues to work on
The Group’s Sugar Business generates close to 80% of consolidated net sales. Consequently, the Group’sbusiness structure is exposed to changes in the operating environment in the Sugar Business and developments
in agricultural policy and trade policy. Meanwhile, domestic demand for sugar is projected to decline due toJapan’s aging society, falling population and rising imports of pre-sweetened products.
In addition, with the US patent covering the active ingredient of Fingolimod “FTY720” scheduled to expire inAugust 2019, the Group recognizes that it needs to urgently secure alternative sources of earnings to replaceroyalty income from “FTY720”.
Against this backdrop, over the next five years the Group will continue to strengthen the earnings capabilities ofexisting businesses while reallocating management resources to growth fields in order to build a solid businessbase.
In the Sugar Business, the Group will respond to falling domestic demand for sugar, Japan’s declining
population, labor shortages and other changes in the operating environment by rebuilding its production
framework. In production activities, we will introduce IoT and other new technologies and use them to increase-4-

[Translation]

automation and reduce the need for personnel. In sales activities, we will launch value-added products using the
SPOON brand and push ahead with reforms to our retailing system. In overseas growth markets for sugar, we
will step up cooperation with affiliates in Thailand – The Kumphawapi Sugar Co., Ltd. and Kaset Phol Sugar
Ltd. – and work toward launching our business in China, including the possibility of partnerships with local
companies.
In the Food Science Business, we will harness all the resources of the Group to push forward the sale anddevelopment of functional ingredients and products in order to address changes in society, such as faster
population aging and rising interest in healthy lifestyles.
We also aim to grow the Food Science Business into a source of earnings to match the Sugar Business by
expanding existing businesses, including moving into overseas markets, and by securing new businesses throughM&A and other means.
In research and development, we formed a joint venture called Cellulosic Biomass Technology Co., Ltd. with
Toray Industries, Inc. in 2017. The joint venture is currently testing technology for manufacturing polyphenol
and other valuable substances from bagasse, a solid residue left after the extraction of liquid from sugar cane.
Going forward, we plan to explore other areas for new business development related to sugar cane.
To support the above initiatives, we will implement business reforms and train personnel, overhaul organizations
and implementation systems, and reallocate resources to growth fields. Also, as a basic premise of our businessactivities, we are firmly committed to creating safe and healthy working environments for our employees.
Specifically, we will strengthen occupational safety systems and push ahead with reforms to work practices.
Amid growing demands on companies to address environmental and social issues and improve corporate
governance, the Group will take into account environmental issues and support for local communities in its
business operations and strengthen corporate governance to increase management transparency and fairness.
We appreciate the continued support of our shareholders.

-5-[Translation]

Reference Documents for
the Ordinary General Meeting of Shareholders

Proposal 1:

Appropriation of surplus

Details pertaining to the appropriation of surplus are as follows:
It is the basic policy of the Company to pay stable and continuous dividends to shareholders.
With regard to the amount of dividends, the Company will set the level of dividends, taking into
account business development for future growth and sufficient internal reserves essential forstrengthening its management base, while considering the operating environment on a case-bycase basis, with the goal of a payout ratio of 35%. The Company will also work to promote its
dynamic capital policy in order to further increase corporate value.
Based on the policy above and business results, etc., the Company plans to set the year-end
dividend at 60 yen per share, after making a comprehensive consideration of returning profit toshareholders, securing sufficient internal reserves for strengthening the financial condition andmanagement foundation of the Company, and investments to drive reproduction and growth.
Since the interim dividend in the amount of 50 yen has been distributed, the annual dividend forthe current fiscal year will be 110 yen per share, resulting in the payout ratio of 35.3%.
Year-end dividends:(1) Type of dividend assets
Cash
(2)

Allocation and total amount of the dividend assets
60 yen per share of the Company’s common stock
Total amount of dividends: 1,602,160,380 yen(3)Effective date of dividend payment
June 27, 2018-6-

[Translation]

Proposal 2:

Election of eight (8) Directors

The terms of office of all eight (8) Directors expire at the conclusion of the Meetings. This
proposal requests the election of eight (8) Directors.
The candidates for Directors are as follows:
No.

Name
(Date of birth)

Daisuke Saiga(March 16, 1955)
1

Career summary, positions and areas of responsibility in the Company,
and important concurrent positions
April 1977

Joined Mitsui & Co., Ltd.

April 2008

Managing Officer, General Manager of Human
Resources & General Affairs Division, Mitsui & Co.,Ltd.

April 2010

Executive Managing Officer, Chief Compliance Officer,
Mitsui & Co., Ltd.

June 2010

Representative Director, Executive Managing Officer,
Chief Compliance Officer, Mitsui & Co., Ltd.

April 2012

Representative Director, Senior Executive Managing
Officer, Mitsui & Co., Ltd.

April 2014

Representative Director, Executive Vice President,
Mitsui & Co., Ltd.

April 2016

Director, Mitsui & Co., Ltd.

June 2016

President and CEO of the Company (to present)

Number of theCompany’s
shares held

1,900

(Reasons for nomination as candidate for Director)
The Company expects that he can continue to make use of his experience and proven track record as corporate
manager of a trading firm as well as his knowledge and oversight capability necessary to faithfully perform duties for
its management.

Yutaro Tako
(June 26, 1956)
2

April 1979

Joined Mitsui & Co., Ltd.

February 2002

Sales Manager of Food Resources Division, Osaka
Office, Mitsui & Co., Ltd.

April 2004

Manager of Sugar & Starch Products Section, Sugar &Fermented Products Division, Foods & Retail Business
Unit, Mitsui & Co., Ltd.

December 2006

General Manager of Sugar & Fermented Products
Division, Foods & Retail Business Unit, Mitsui & Co.,Ltd.

June 2007

Outside Director of the Company

May 2011

Director, Executive Managing Officer of the Company

December 2013

Director, Hokkaido Sugar Co., Ltd.

April 2014

Director, Senior Executive Managing Officer of theCompany (to present)

December 2014

Director, NUTRI Co., Ltd. (to present)

April 2017

General Manager of Food Science Group of theCompany (to present)
In charge of Sugar Sales Group, and Business Design &Development Group

5,900(Important concurrent positions)
Director, Nutri Co., Ltd.
(Reasons for nomination as candidate for Director)
Since he has held positions as head of the sales department at a trading firm and the Company, the Company expects
that he can make use of his broad experience and insight mainly in the sales department to handle the business
management.

-7-

[Translation]

No.

Name
(Date of birth)

Junichi Nomura(October 26, 1958)
3

Career summary, positions and areas of responsibility in the Company,
and important concurrent positions
April 1981

Joined the Company

April 2008

General Manager of Chiba Factory, Sugar Production
Group of the Company

April 2010

Executive Officer, General Manager of Kobe Factory,
Sugar Production Group of the Company

April 2013

Executive Officer, General Manager of Kobe Factory,
Sugar Production Group of the Company

April 2014

Executive Managing Officer, General Manager of Sugar
Production Group of the Company

June 2014

Director, Executive Managing Officer, General Manager
of Sugar Production Group of the Company

April 2016

Director, Senior Executive Managing Officer, General
Manager of Sugar Production Group of the Company (topresent)

Number of theCompany’s
shares held

2,160

(Reasons for nomination as candidate for Director)
The Company expects that he can continue to make use of his many years of experience and insight in the
Company’s production department for its management.

Hideyuki Mikayama(August 21, 1955)
4

April 1979

Joined Mitsui & Co., Ltd.

April 1999

General Manager of Finance Department, MITSUI &CO. (U.S.A.), INC.

April 2007

General Manager of Financial Planning and
Administrative Division, Mitsui & Co., Ltd.

April 2009

General Manager of Finance Division, Mitsui & Co., Ltd.

April 2011

Managing Officer, General Manager of Finance Division,
Mitsui & Co., Ltd.

April 2012Managing Officer, General Manager of Nagoya Office,Mitsui & Co., Ltd.

April 2013

Executive Managing Officer, General Manager ofNagoya Office, Mitsui & Co., Ltd.

June 2014

Outside Director, Resona Bank, Limited. (to present)

June 2014

Director, Executive Managing Officer & CFO General
Manager of Finance & Accounting Division of theCompany

April 2015

Director, Executive Managing Officer & CFO of theCompany

April 2017

Director, Senior Executive Managing Officer & CFO of
the Company (to present)
In charge of Compliance
In charge of Legal and Internal Control Division, General
Affairs and Human Resources Division, Corporate
Planning Division, Finance & Accounting Division(Important concurrent positions)
Outside Director, Resona Bank, Limited.
(Reasons for nomination as candidate for Director)
Since he has broad experience and knowledge gained through finance-related operations at a trading firm, theCompany expects that he can continue to make use of the experience and knowledge for its management.

-8-

2,200

[Translation]

No.

Name
(Date of birth)

Junichi Handa(February 13, 1957)
5

Career summary, positions and areas of responsibility in the Company,
and important concurrent positions
April 1979

Joined Toa Nenryo Kogyo Co., Ltd.

February 2002

Representative Director, Booz Allen Hamilton

April 2005

President & CEO, Management Wisdom Partners, Japan

April 2013

Senior Vice President, Human Resources Department,
Takeda Pharmaceutical Co., Ltd.

June 2013

Corporate Officer, Senior Vice President, Human
Resources Department, Takeda Pharmaceutical Co., Ltd

October 2014

Global Human Resources, Takeda Pharmaceutical, Co.,Ltd.

June 2015

Outside Director of the Company (to present)

July 2015

President & CEO, Management Wisdom Partners, Japan(to present)

April 2016

Project Professor, Graduate School of Economics, The
University of Tokyo (to present)

Number of theCompany’s
shares held

0

(Important concurrent positions)
Project Professor, Graduate School of Economics, The University of Tokyo
President & CEO, Management Wisdom Partners, Japan(Reasons for nomination as candidate for Outside Director)
Since he has a profound knowledge of corporate strategy, particularly in the field of formulating human resources
strategy with a proven track record, the Company expects that he can appropriately perform his duties as Outside
Director from an objective perspective.

Yusuke Kawamura(December 5, 1953)
6

April 1977

Joined Daiwa Securities Co. Ltd.

January 1997

General Manager of Syndicate Department, CapitalMarket Division, Daiwa Securities Co. Ltd.

June 2007

Public Board Member, Self-regulation Board, Japan
Securities Dealers Association (to present)

April 2010

Director, Japan Securities Research Institute (to present)

January 2011

Commissioner, Fiscal System Council, Ministry of
Finance (to present)

April 2012

Deputy Chairman of the Institute, Daiwa Institute of
Research, Ltd. (to present)

February 2013

Commissioner, Business Accounting Council, Financial
Services Agency (to present)

May 2013

Commissioner, Ministerial Meeting on Promotion of
Utilization of Public-Private Funds (to present)

November 2013 Outside Director, Cool Japan Fund (to present)
May 2016

Visiting professor, Nankai University (to present)

January 2017

Visiting research fellow, Guangdong Academy of Social
Sciences (to present)

June 2017

Outside Director of the Company (to present)(Important concurrent positions)
Deputy Chairman of the Institute, Daiwa Institute of Research, Ltd.
(Reasons for nomination as candidate for Outside Director)
Since he has abundant experience and insight in the field from which he originates, the Company expects that he canappropriately perform his duties as Outside Director from an objective perspective.

-9-0[Translation]

No.

Name
(Date of birth)

Career summary, positions and areas of responsibility in the Company,
and important concurrent positions
April 1994

Number of theCompany’s
shares held

Registered as an Attorney at Law
Joined Nagashima & Ohno

September 2000 Joined Covington & Burling LLP (Washington, D.C.)
January 2001

Registered as an Attorney at Law in New York State

April 2001

Rejoined Nagashima Ohno & Tsunematsu

January 2003
Yuko Tamai(November 28, 1965) June 20157
June 2017

Partner, Nagashima Ohno & Tsunematsu (to present)
Outside Audit & Supervisory Board Member, Japan
Bank for International Cooperation (to present)0

Outside Director of the Company (to present)(Important concurrent positions)
Partner, Nagashima Ohno & Tsunematsu
Outside Audit & Supervisory Board Member, Japan Bank for International
Cooperation(Reasons for nomination as candidate for Outside Director)
Since she has a high degree of specialized knowledge and abundant experience as an attorney, the Company expects
that she can appropriately perform her duties as Outside Director from an objective perspective.

Miki Yoshikawa(December 26, 1961)

April 1984

Joined Mitsui & Co., Ltd.

March 2000

President & CEO, Japan Information Resources Co., Ltd

October 2007

General Manager of Logistics Business Promotion
Division, Food & Retail Business Unit, Mitsui & Co.,Ltd.

April 2008

General Manager of Retail Logistics Division, Food &Retail Business Unit, Mitsui & Co., Ltd.

October 2010

General Manager of Retail Business Division, Food &Retail Business Unit, Mitsui & Co., Ltd.

February 2012

Divisional Operating Officer of Foodstuff Business
Division, Asia Pacific Business Unit, Mitsui & Co., Ltd.,and S.V.P. of Mitsui & Co. (Asia Pacific) Pte. Ltd.

April 2015

Managing Officer, Chief Operating Officer of Food
Resources Business Unit, Mitsui & Co., Ltd.

April 2016

Managing Officer, Chief Operating Officer of FoodBusiness Unit, Mitsui & Co., Ltd. (to present)

June 2017

Outside Director of the Company (to present)

8(Important concurrent positions)Managing Officer, Chief Operating Officer of Food Business Unit, Mitsui& Co., Ltd.
(Reasons for nomination as candidate for Outside Director)
Since he has abundant experience and insight in the field from which he originates, the Company expects that he canappropriately perform his duties as Outside Director from an objective perspective.
Notes:
1. There are no vested interests between each of the candidates and the Company.
2. Mr. Junichi Handa, Mr. Yusuke Kawamura, Ms. Yuko Tamai, and Mr. Miki Yoshikawa are candidates
for Outside Directors.
3. The Company designated Mr. Junichi Handa and Mr. Yusuke Kawamura as independent officers andregistered them with the Tokyo Stock Exchange pursuant to the provisions of the Exchange. If thereelection of both of them is approved at this Meeting, the Company plans for their appointment as
independent officers to continue.
4. Ms. Yuko Tamai is independent according to the Tokyo Stock Exchange’s independence criteria andfulfills the qualifications of an independent officer. However, in accordance with the policy of the law
office where she is a partner, the Company has no plans to register her as an independent officer with
the Tokyo Stock Exchange.
5. Although Mr. Yusuke Kawamura and Ms. Yuko Tamai have not been involved in corporate
management except for being an Outside Director in the past, the Company has judged that they can
perform their duties as Outside Directors appropriately as described in “Reasons for nomination as
candidate for Outside Director.”- 10 -

0[Translation]

6.

7.
8.
9.

Mr. Miki Yoshikawa has been serving as a business executive at Mitsui & Co., Ltd., which had
specific relations with the Company during the past 5 years. He received salary and othercompensation for the last 2 years from the company as well, and is expected to continue to receive
salary and other compensation from the company.
Mr. Junichi Handa is currently the Company’s Outside Director. His terms of office will be 3 years at
the conclusion of this Meeting.
Mr. Yusuke Kawamura, Ms. Yuko Tamai and Mr. Miki Yoshikawa are currently the Company’s
Outside Director. Their terms of office will be 1 year at the conclusion of this Meeting.
In accordance with Paragraph 1, Article 427 of the Companies Act, the Company has agreement with
Mr. Junichi Handa, Mr. Yusuke Kawamura, Ms. Yuko Tamai and Mr. Miki Yoshikawa to limit their
liability for damages stipulated in Paragraph 1, Article 423 of the Companies Act to the minimum
amount set forth in Paragraph 1, Article 425 of the Companies Act. If the reelection of each of them
are approved at this Meeting, the Company will keep the said agreements with each of them.

- 11 -

[Translation]

Proposal 3:

Election of two (2) Audit & Supervisory Board Members

At the conclusion of this Meeting, the terms of office of Audit & Supervisory Board Members
Youichi Hayashi and Ichiro Iijima will expire. This proposal requests the election of
two (2) Audit & Supervisory Board Members.
The consent of the Audit & Supervisory Board has been obtained for this proposal.
The candidates for Audit & Supervisory Board Members are as follows:
No.

Name
(Date of birth)

Career summary and positions in the Company,
and important concurrent positions
April 1973

Joined Taisho Marine & Fire Insurance Co., Ltd.

April 2006

Managing Executive Officer, General Manager ofNagoya Corporate Division and Damage Services
Reform Department of Nagoya Corporate Division,
Mitsui Sumitomo Insurance Company, Limited

April 2008

Senior Executive Officer, General Manager of Nagoya
Corporate Division and Damage Support and Innovation
Department of Nagoya Corporate Division, Mitsui
Sumitomo Insurance Company, Limited

April 2010

Director, Senior Executive Officer, Mitsui Sumitomo
Insurance Company, Limited
Chairman, MSIG Holdings (Americas), Inc.

Ichiro Iijima(November 10, 1949)
1

April 2011

Director, Vice President Executive Officer, Mitsui
Sumitomo Insurance Company, Limited
Chairman, MSIG Holdings (Americas), Inc.

June 2011

Director, Executive Officer, MS&AD Insurance Group
Holdings, Inc.

April 2014

Director, MS&AD Insurance Group Holdings, Inc.

June 2014

Outside Audit & Supervisory Board Member of theCompany (to present)
Audit & Supervisory Board Member, Mitsui SumitomoPrimary Life Insurance Company, Limited

Number of theCompany’s
shares held

(Reasons for nomination as candidate for Audit & Supervisory Board Member)
Since he has deep insight of finance and insurance business and extensive experience in corporate management, theCompany expects that he will supervise overall management, provide proper advice, and appropriately perform his
duties as Outside Audit & Supervisory Board Member.

- 12 -

0[Translation]

No.

Name
(Date of birth)

Hayato Kaneko(July 9, 1958)(new candidate)

Career summary and positions in the Company,
and important concurrent positions
April 1981

Joined Taito Co., Ltd

June 2001

General Manager of Sales Management Division, Sugar
Sales Group, Taito Co., Ltd

April 2007

General Manager of Kansai Sales Division, West Japan
Sales Group of the Company

April 2009

Executive Officer, General Manager of East Japan Sales
Division, East Japan Sales Group of the Company

April 2010

Executive Officer, General Manager of East Japan Sales
Group of the Company

January 2013

Executive Officer, General Manager of East Japan Sales
Group and Food Ingredient Sales Division of theCompany

April 2013

Executive Officer, General Manager of Sugar Business
Administrative Group and Logistics Management
Division of the Company

2

Number of theCompany’s
shares held

920

September 2015 Executive Officer of the Company
President & CEO, Showa Tougyou Co., Ltd. (to present)
April 2017

Executive Managing Officer of the Company (to present)(Reasons for nomination as candidate for Audit & Supervisory Board Member)
Since he has become familiar with the Company’s operations through his many years of involvement in its businessexecution and possesses extensive experience and knowledge primarily gained while holding positions such as
representative director of an important subsidiary, the Company judges that he is an appropriate person to audit
Directors’ business execution.
Notes:
1. There are no vested interests between Mr. Ichiro Iijima and the Company. Mr. Hayato Kaneko is
President & CEO of Showa Tougyou Co., Ltd., a subsidiary of the Company, and the Company has
business relationships with said company that include purchasing crude sugar. Mr. Hayato Kaneko isscheduled to resign as President & CEO and Director of Showa Tougyou Co., Ltd. on June 15, 2018.
2. Candidate Mr. Ichiro Iijima is candidate for Outside Audit & Supervisory Board Member.
3. The Company designated Mr. Ichiro Iijima as an independent officer and registered him with the Tokyo
Stock Exchange pursuant to the provisions of the Exchange. If his reelection is approved, the Company
plans for his appointment as an independent officer to continue.
4. Mr. Ichiro Iijima is currently the Company’s Outside Audit & Supervisory Board Member. His term ofoffice will be 4 years at the conclusion of this Meeting.
5. In accordance with Paragraph 1, Article 427 of the Companies Act, the Company has an agreement with
Mr. Ichiro Iijima to limit his liability for damages stipulated in Paragraph 1, Article 423 of theCompanies Act to the minimum amount set forth in Paragraph 1, Article 425 of the Companies Act. If
his reelection is approved, the Company will keep agreement with him while if the election of Mr.
Hayato Kaneko is approved, the Company will have the same agreement with him as it will have with
Mr. Ichiro Iijima.

- 13 -