Securities Code 6850
(Shipping Date) June 9, 2023
(Start date of electronic provisioning measures) June 7, 2023

Dear Shareholders:

Mikio Toyoda, President and CEO

Chino Corporation

32-8, Kumano-cho, Itabashi-ku, Tokyo

Notice of the 87th Ordinary General Meeting of Shareholders
Please accept our sincere gratitude for your continued support and patronage.
We write to advise you of the 87th Ordinary General Meeting of Shareholders of Chino Corporation (hereinafter the“Company”).
In convening the General Meeting of Shareholders, measures are taken to provide information that constitutes thecontent of Reference Documents, etc. for the General Meeting of Shareholders in electronic format (matters subject tomeasures for electronic provision). Please visit the Company’s website below for the information.
[The Company’s website] (Information of General Meeting of Shareholders at the following URL)
https://www.chino.co.jp/english/financial/shareholders-meeting/[Website (in Japanese) that contains Reference Documents for General Meeting of Shareholders]
https://d.sokai.jp/6850/teiji/
In addition to the websites above, matters subject to measures for electronic provision are posted on the website ofTokyo Stock Exchange (TSE). Please visit the TSE website below, enter/search “CHINO” under “Issue name (company
name)” or its securities code “6850” under “Code,” and choose “Basic information,” “Documents for public inspection/ PR information” and “Notice of General Shareholders Meeting / Informational Materials for a General Shareholders
Meeting” under “Documents for public inspection.”)[TSE website (Listed Company Search)]https://www2.jpx.co.jp/tseHpFront/JJK020010Action.do
If you are unable to attend the meeting in person, you may exercise your voting rights in advance in writing or via theInternet. Please read the Reference Documents for the General Meeting of Shareholders, follow the guidance on pages
3-5, and exercise your voting rights no later than 5 p.m., Wednesday, June 28, 2023.

- 1 -[Implementation of system for electronic provision of materials for general meetings of shareholders]With the introduction of the system for electronic provision of materials for general meetings of shareholders inaccordance with the amended Companies Act which entered into force on September 1, 2022, the Company will provide
materials for general meetings of shareholders (reference documents, business report, consolidated financial statements,
non-consolidated financial statements, audit report) by posting them on its website, in principle, in place of delivery in
writing. The Company will send the materials in writing to those shareholders who have requested delivery thereof in
writing, on an exceptional basis.
For this General Meeting of Shareholders, however, the Company has decided, to send the said materials in writing
to all shareholders who have voting rights for reference purposes, including shareholders who have requested delivery
thereof in writing.
1. Date and Time:

Tuesday, June 29, 2023 at 10 a.m. Japan time
(The reception desk is scheduled to open at 9 a.m.)

2. Place:

Meeting room of the Head Office (first basement),
32-8, Kumano-cho, Itabashi-ku, Tokyo

3. Meeting Agenda:
Matters to be reported:
1. The Business Report, Consolidated Financial Statements for the Company’s 87th Fiscal Year (April 1, 2022 March 31, 2023) and results of audits by the Accounting Auditor and the Board of Corporate Auditors of theConsolidated Financial Statements
2. Non-consolidated Financial Statements for the Company’s 87th Fiscal Year (April 1, 2022 - March 31, 2023)
Matters to be resolved:
Proposal 1: Election of Seven (7) Directors
Proposal 2: Election of Three (3) Auditors
Proposal 3: Election of One (1) Substitute Auditor

Of the matters subject to measures for electronic provision, notes to consolidated financial statements and notes
to non-consolidated financial statements are omitted in accordance with laws and regulations and Article 14 of the
Articles of Incorporation.
The said document is part of the documents audited by the Audit & Supervisory Board and the Accounting
Auditor when preparing audit reports.
If any revisions are made to matters subject to measures for electronic provision, matters subject to the revisions
and the said matters before and after the revisions will be posted on each relevant website for which the abovemeasures for electronic provision are taken.

[Request and guidance to shareholders]
1 Although COVID-19 has been reclassified as a Class 5 disease, the Company requests shareholders to pay
attention to their health up to the day of the meeting and to the status of the infection in Japan when deciding
to attend the meeting in person.
2

Capacity will be limited due to the wide spacing between seats at the venue of the General Meeting of
Shareholders. Please note that if all seats are filled, entry may not be possible.

3

Operations staff for the General Meeting of Shareholders will check their physical condition and wear masks
on the day of the meeting.

4

No gifts will be offered to shareholders on the day of the meeting.

- 2 -Reference Documents for the General Meeting of Shareholders
Proposal 1: Election of Seven (7) Directors
The terms of office of all Six (6) Directors will expire at the conclusion of this Ordinary General Meeting of
Shareholders. Accordingly, the Company proposes that Seven (7) Directors be elected.
Candidates for Directors are as follows:
Numbe
r

Name

Current positions and responsibilities in the Company

TenureAttendance at meetingsof the Board of
Directors

1

Mikio Toyoda

Reelection

President and CEO

11 years

14/ 14 meetings

2

Takao Shimizu

Reelection

Director and Executive Officer,
In charge of Group Technical Management

14 years

14/ 14 meetings

3

Akihiko Nishiguchi

Reelection

Director and Executive Officer,
Executive Manager, Sales Headquarters,
Branch Manager, Eastern Japan Branch

4 years

14/ 14 meetings

4

Manabu Matsuoka

Executive Officer and Executive Manager,
Quality Headquarters

－

－

5

Tatsuyoshi Yoshiike

Reelection

OutsideIndependent Director

8 years

14/ 14 meetings

6

Kazuo Ikuta

Reelection

OutsideIndependent

Director

7 years

14/ 14 meetings

7

Yukinobu Miki

Reelection

OutsideIndependent

Director

1 years

10/ 10 meetings

Reelection

Director for
reelection

New
Appointment

New
Appointment

New
Directors

Outside- 3 -OutsideDirector

Independent

Independent Director as definedby the Tokyo Stock ExchangeNumberName(Date of Birth)

Reelection

Mikio Toyoda(April 11, 1957)

1

Number of the
Career summary, positions and responsibilities, and significant concurrent positions

Company’s shares
held

Apr. 1981

Joined the Company

Jun. 2012

Director, General Manager, Fujioka Factory, the Company

Oct. 2014

Director, General Manager, Fujioka Factory, Equipment
Products Development Center

Jun. 2015

Director and Executive Officer, General Manager, Fujioka
Factory, Equipment Products Development Center

Jun. 2016

Director and Executive Officer, Executive Manager,
Corporate Strategy Headquarters, Equipment Products
Development Center

Jun. 2017

President and CEO, Equipment Products Development
CenterJun. 2019

President and CEO
To the present

9,507 shares[Significant concurrent positions]
There is no items to report.
[Reasons for nomination as a candidate for Director]
Mr. Mikio Toyoda serves as the President and CEO of the Company after serving as factory general manager, General
Manager of the Equipment Products Development Center and Executive Manager of Corporate Strategy Headquarters. As
a result, the Company has judged that he is an appropriate person to promote growth strategies of the Group as the senior
executive based on his wealth of experience and insight, and requests his continued election as a Director of the Company.
[Interests in the Company]
There is no special interest between Mr. Toyoda and the Company.
Reelection

Takao Shimizu(September 28, 1953)

2

Apr. 1976

Joined the Company

Jun. 2009

Director, Measurement Technology Development Center

Apr. 2011

Director, R&D Center

Jun. 2012

Director, R&D Center, General Manager, SST DivisionJun. 2013

Director and Executive Officer, R&D Center, General
Manager, SST DivisionJun. 2014

Director and Executive Officer, R&D Center

Jun. 2015

Director and Executive Officer, R&D Center

Jun. 2017

Director and Executive Officer, R&D Center, General
Manager, Kuki Factory

Feb. 2018

Director and Executive Officer, General Manager, Kuki
Factory

Oct. 2021

Director and Executive Officer, In charge of Group
Technical Management, Director, Innovation Center
To the present

9,698 shares[Significant concurrent positions]
President of AR’S Corporation Limited
President of ASAKAWA LENS WORKS CO., LTD.
[Reasons for nomination as a candidate for Director]
Mr. Takao Shimizu has extensive experience and insight including his service as factory and R&D Center general manager.
As a result, the Company has judged that he is an appropriate person to promote innovative technology and productdevelopment of the Group, and requests his continued election as a Director of the Company.
[Interests in the Company]
The Company has a business relationship, including the purchase of products, with AR’S Corporation Limited where Mr.
Takao Shimizu concurrently serves as the Representative Director.
The Company has a business relationship including the purchase of parts and materials with ASAKAWA LENS WORKS
CO., LTD. where Mr. Takao Shimizu concurrently serves as the Representative Director.

- 4 -NumberName(Date of Birth)

Reelection

Akihiko Nishiguchi(August 24, 1959)

Number of the
Career summary, positions and responsibilities, and significant concurrent positions

held

Apr. 1982

Joined the Company

Jun. 2011

Director, Branch Manager, Osaka Branch

Jun. 2013

Director, Branch Manager, Osaka Branch, ChineseBusiness DivisionFeb. 2014

Director, Managing Director, SHANGHAI DAHUACHINO INSTRUMENT Co., LTD. (seconded)

Jun. 2015

Corporate Officer, Managing Director, SHANGHAIDAHUA-CHINO INSTRUMENT Co., LTD. (seconded)

Jun. 2019

Director and Executive Officer, Chinese Business
Division, Managing Director, SHANGHAI DAHUACHINO INSTRUMENT Co., LTD. (seconded)

Mar. 2021
3

Company’s shares

Jun. 2021

Apr. 2022

6,965 shares

Director and Executive Officer, Chinese Business
Division
Director and Executive Officer, Executive Manager,
Overseas Business Headquarters, Executive Manager,
Sales Headquarters
Director and Executive Officer, Executive Manager,
Sales Headquarters, Branch Manager, Eastern Japan
BranchTo the present[Significant concurrent positions]
There is no items to report.
[Reasons for nomination as a candidate for Director]
Mr. Akihiko Nishiguchi has abundant experience and insight as the general manager of the Osaka Branch and in chargeof the China business of the Company, and we believe that he is an appropriate person to lead the expansion andglobalization of the Group's business, and have therefore nominated him as a candidate for director.
[Interests in the Company]
There is no special interest between Mr. Nishiguchi and the Company.
New
Appointment

Manabu Matsuoka(September 11,1958)

Apr. 1981

Joined the Company

Jun. 2014

Director, General Manager, Instrument
Management Division at Fujioka Factory

SystemOfficer, General Manager, Instrument
Management Division at Fujioka Factory

SystemJun. 2015

4

Jun. 2016

Executive Officer, General Manager, Fujioka Factory,
General Manager, Instrument System Management
Division

Feb. 2018

Executive Officer, Executive Manager, Innovation
CenterJul. 2019

Executive Officer, Executive Manager, Innovation
Center, Executive Manager, Production Innovation
Headquarters

Feb. 2021

Executive Officer, Executive Manager, Production
Innovation Headquarters, Executive Manager, Quality
Assurance Headquarters

Apr. 2022

Executive Officer,
Headquarters
To the present

Executive

Manager,

4,672 shares

Quality[Significant concurrent positions]
President of SANKI KEISO CO., LTD.
[Reasons for nomination as a candidate for Director]
Mr. Manabu Matsuoka has abundant experience and insight as the General Manager of the Company's Factory andExecutive Manager, Quality Headquarters, and we have determined that he is an appropriate candidate for the position of
Director to promote the expansion of production and reform of the Company's group.
[Interests in the Company]
The Company has a business relationship, including the purchase of products, with SANKI KEISO CO., LTD. where Mr.
Manabu Matsuoka concurrently serves as the Representative Director.

- 5 -NumberNumber of the

Name(Date of Birth)

Reelection

OutsideIndependent

Tatsuyoshi Yoshiike(May 9, 1952)

Career summary, positions and responsibilities, and significant concurrent positions

Company’s
shares held

Mar. 1975

Joined HIOKI E.E. CORPORATION

Mar. 2005

President, HIOKI E.E. CORPORATION

Jan. 2013

Chairman, HIOKI E.E. CORPORATION

Jun. 2015

Outside Director, the Company
To the present

Jun. 2016

Outside Director, Shinko Shoji Co., Ltd.
To the present

5－[Significant concurrent positions]
Outside Director, Shinko Shoji Co., Ltd.
[Reasons for nomination as a candidate for Outside Director and expected roles]
Mr. Tatsuyoshi Yoshiike has deep insight in business management cultivated through his extensive
experience as a company manager and has played an important role in strengthening governance by
providing opinions and suggestions on the overall management of the Group. As a result, the Company
requests his continued election as an Outside Director of the Company, expecting that he will supervise
the Company’s management from an independent position.
[Interests in the Company]
There is no special interest between Mr. Yoshiike and the Company.
Reelection

OutsideIndependent

Kazuo Ikuta(September 4, 1946)

Jul. 1991

Secretary General, Japan Measuring Instruments
Federation

May 1998

Executive Director and Secretary General, Japan
Measuring Instruments Federation

May 2008

Senior Executive Director, Japan Measuring
Instruments Federation

May 2014

Special Adviser, Japan Measuring Instruments
Federation

Jun. 2016

Outside Director, the Company
To the present

2,000 shares

6[Significant concurrent positions]
There is no items to report.
[Reasons for nomination as a candidate for Outside Director and expected roles]
Mr. Kazuo Ikuta has deep insight through his extensive experience of being committed to the development of themeasuring instruments industry in Japan and the sophistication of measuring instruments and has played an important roleby providing useful suggestions on the management of the Group. As a result, the Company requests his continued election
as an Outside Director of the Company, expecting that he will supervise the Company’s management from an independent
position.
[Interests in the Company]
There is no special interest between Mr. Ikuta and the Company.

- 6 -Number of the

Name

Number(Date of Birth)

Reelection

OutsideIndependent

Yukinobu Miki

（August 16, 1953）

Career summary, positions and responsibilities, and significant concurrent positions

Company’s
shares held

Apr. 2010

Director, Research Institute of Metrology, National
Institute of Advanced Industrial Science and Technology

Apr. 2012

Director, National Institute of Advanced Industrial
Science and Technology

Apr. 2017

Vice President, National Institute of Advanced Industrial
Science and Technology

Jun. 2022

Outside Director, the Company
To the present－

7[Significant concurrent positions]
There is no items to report.
[Reasons for nomination as a candidate for Outside Director and expected roles]
Mr. Yukinobu Miki has a high level of insight in the field of measurement technology, which he has gained through his
experience at the National Institute of Advanced Industrial Science and Technology (AIST), where he has held a numberof important positions. He is nominated as a candidate for Outside Director of the Company in the expectation that hewill provide useful suggestions on the management of the Group and supervise the Company’s management from an
independent position.
[Interests in the Company]
There is no special interest between Mr. Miki and the Company.

(Notes)1.Mr. Tatsuyoshi Yoshiike , Mr. Kazuo Ikuta and Mr. Yukinobu Miki are candidates for Outside Directors.
2.The Company has designated Outside Directors Mr. Tatsuyoshi Yoshiike , Mr. Kazuo Ikuta and Mr. Yukinobu Miki as independent
directors as stipulated by the Tokyo Stock Exchange and has notified the Tokyo Stock Exchange of their designation.
3.The number of the Company’s shares held by each candidate includes their equity interest in the chino officer's stock ownershipplan.
4.Pursuant to the provisions of Article 427, Paragraph 1 of the Companies Act, the Articles of Incorporation of the Company has aprovision stipulating that the Company may enter into agreements with Outside Directors to limit their liability for damages under
Article 423, Paragraph 1 of the Companies Act, and the Company has entered into the agreement for limitation of liability with eachCurrent Outside Director. If the reelection of Mr. Tatsuyoshi Yoshiike , Mr. Kazuo Ikuta and Mr. Yukinobu Miki is approved, theCompany intends to continue the agreements with them.
The maximum amount of liability for damages shall be the minimum amount provided for in Article 425, Paragraph 1 of theCompanies Act when an Outside Director performs his duties in good faith and without gross negligence.

(Reference) Skills expected of Directors
At a Board of Directors meeting held on December 9, 2021, we established the skills that the Board of Directors should
possess in order to realize the Company's Corporate Philosophy and the management vision set forth in Mid-termManagement Plan, and has identified the skills expected of each Director as follows.
Name

Job title

Corporate
management

Globalbusiness

Sales,
marketing

Manufacturing,
research andLegal affairs/

IT/Digitaldevelopment

Mikio Toyoda

President and
CEO

●

●

●

●

Takao Shimizu

Director andExecutive Officer

●

●

●

●

Akihiko Nishiguchi

Director andExecutive Officer●●

Manabu Matsuoka

Candidates for
Directors
Executive Officer●●

Tatsuyoshi Yoshiike

Outside Director●●

Kazuo Ikuta

Outside Director●●

Yukinobu Miki

Outside Director●●

Finance/
Accounting

●

●

●
●

●

* Mark “●” for up to 4 of the skills expected of each director (excluding representative director)

- 7 -

Risk
Management

●
●

●

●

●

●

Proposal 2: Election of Three (3) Auditors
The terms of office of all Three (3) Auditors will expire at the conclusion of this Ordinary General Meeting of
Shareholders. Accordingly, the Company proposes that Three (3) Auditors be elected. The Board of Corporate Auditors
has given its consent to this proposal.
Candidates for Auditors are as follows:

NumberName

Current positions and responsibilities in the Company

TenureAttendance at meetings
upper row :the Board of Directors
lower column:
the Board of Auditors

6 years

14/ 14 meetings
13/ 13 meetings

1

Noriyuki Saito

2

Kazuhiko Yamashita Reelection

OutsideIndependent Auditor

6 years

14/ 14 meetings
13/ 13 meetings

3

Yoshihiko Kasuya

OutsideIndependent－ years－/ － meetings－/ － meetings

Auditor for
reelection

Reelection

NumberReelection

New
Appointment

Name(Date of Birth)

Reelection

Noriyuki Saito(February 5, 1947)

1

New
Appointment

New

AuditorFull-time Auditor

OutsideOutsideAuditorIndependent

Independent Director as definedby the Tokyo Stock Exchange

Number of the
Career summary, positions and responsibilities, and significant concurrent positions

Company’s shares
held

Apr. 1969

Joined the Company

Jun. 2001

Director, General Manager, Finance and Economics
Department

Jun. 2007

Managing Director, General Manager, Business
Management

Jun. 2010

Senior Managing Director, Executive Manager,
Administration Division, General Manager, President's
OfficeJun. 2014

Executive Adviser

Jun. 2017

Full-time Auditor
To the present

6,827 shares[Significant concurrent positions]
There is no items to report.
[Reasons for nomination as a candidate for Auditor]
Mr. Noriyuki Saito has a wealth of experience and knowledge in accounting and finance, including serving as the head of
the Company's business administration and planning departments. He will be able to appropriately perform his duties as acorporate auditor from a professional standpoint. We therefore nominated him as a candidate for the position of Corporate
Auditor.
[Interests in the Company]
There is no special interest between Mr. Saito and the Company.

- 8 -NumberNumber of the

Name(Date of Birth)

Reelection

OutsideIndependent

Kazuhiko Yamashita(March 19, 1956)

Career summary, positions and responsibilities, and significant concurrent positions

Company’s
shares held

Apr. 1979

Joined The Saitama Bank, Ltd. (now Resona Bank, Ltd.)

Oct. 2005

Executive Officer, Resona Bank, Ltd.

Jun. 2007

Senior Managing Director, Resona Kessai Service
Co.,Ltd.

Apr. 2008

Executive Vice President , Resona Card Co.,Ltd.

Jun. 2011

Executive Vice President , NTT DATA SOFIACORPORATION

Jun. 2016

Outside Auditor, RHYTHM WATCH CO., LTD. (nowRHYTHM CO., LTD.)

Jun. 2017

Outside Auditor, the Company
To the present

Feb. 2018

Director, Audit & Supervisory Committee Member,
OPTOELECTRONICS CO.,LTD.
To the present

Jun. 2018

Director, Audit & Supervisory Committee Member,
RHYTHM WATCH CO., LTD. (now RHYTHM CO.,LTD.)
To the present2－[Significant concurrent positions]
Director, Audit & Supervisory Committee Member of RHYTHM CO., LTD.
Director, Audit & Supervisory Committee Member of OPTOELECTRONICS CO., LTD.
[Reasons for nomination as a candidate for Auditor]
Mr. Kazuhiko Yamashita has many years of experience in financial affairs and extensive knowledge of finance, etc., andwe believe that he will be able to appropriately perform his duties as a corporate auditor from a professional standpoint,
and therefore, we continue to nominate him as a candidate for outside auditor.
[Interests in the Company]
There is no special interest between Mr. Yamashita and the Company.
Apr. 1979

Joined The Mitsubishi Bank, Ltd. (MUFG Bank, Ltd.)

Independent

Jun. 2008

President, Chitose Kosan Co., Ltd.

Jun. 2010

Director and Executive Officer, Prince Hotels, Inc

Yoshihiko Kasuya

Apr. 2015

Executive Vice President, SEIBU CONSTRUCTION
CO.,LTD.
To the present

New
Appointment

Outside(October 16, 1955)－

3[Significant concurrent positions]
There is no items to report.
[Reasons for nomination as a candidate for Auditor]
Mr. Yoshihiko Kasuya has been involved in corporate management at several companies in addition to his many years ofexperience in finance and extensive knowledge of financial matters. Based on the experience and insight he has gained
through these activities, we have determined that he will be able to appropriately perform his duties as a corporate auditor
and have nominated him as a candidate for outside corporate auditor.
[Interests in the Company]
There is no special interest between Mr. Kasuya and the Company.

- 9 -(Notes) 1.Mr. Kazuhiko Yamashita, and Mr. Yoshihiko Kasuya are candidates for Outside Auditors.
2.The Company has designated Outside Auditors Kazuhiko Yamashita as independent directors as stipulated by the Tokyo Stock
Exchange, and Mr. Yoshihiko Kasuya as a candidate for independent Auditors, and has notified the Tokyo Stock Exchange of theirdesignation.
3.The number of the Company’s shares held by each candidate includes their equity interest in the chino officer's stock ownershipplan.
4.Pursuant to the provisions of Article 427, Paragraph 1 of the Companies Act, the Articles of Incorporation of the Company has aprovision stipulating that the Company may enter into agreements with Outside Auditors to limit their liability for damages under
Article 423, Paragraph 1 of the Companies Act, and the Company has entered into the agreement for limitation of liability with eachCurrent Outside Auditor. If the reelection of Mr. Kazuhiko Yamashita is approved, the Company intends to continue the agreementswith them. If the appointment of Mr. Yoshihiko Kasuya is approved, the Company plans to enter into a similar liability limitationagreement with him.
The maximum amount of liability for damages shall be the minimum amount provided for in Article 425, Paragraph 1 of theCompanies Act when an Outside Auditor performs his duties in good faith and without gross negligence.

- 10 -

Proposal 3: Election of One (1) Substitute Auditor
The Company requests the election of one substitute member of the Audit & Supervisory Board in case there is a
shortfall in the number of members of the Audit & Supervisory Board specified by laws and regulations.
The said substitute member to be elected by resolution of the meeting will take office when there is an insufficientnumber of members, and the term of his/her office will be the remaining term of office of the predecessor. Moreover,
the resolution will expire at the beginning of a General Meeting of Shareholders for the last fiscal year ending withinfour years of his/her election. The Audit & Supervisory Board has approved this proposal in advance.
The candidate for substitute member of the Board is as follows:
Name(Date of Birth)

OutsideIndependent

Kenji Kato

(February 7, 1957)

Number of the
Career summary, positions and responsibilities, and significant concurrent positions

Company’s shares
held

Apr. 1979

Joined Nippon Life Insurance Company

Apr. 2013

Executive Officer, MAX CO., LTD.

Apr. 2015

Senior Executive Officer, MAX CO., LTD.

Feb. 2022

Full-time Auditor , Vertex co., ltd.
To the present－[Significant concurrent positions]
Full-time Auditor , Vertex co., ltd.
[Reasons for nomination as a candidate for Substitute Auditor]
Mr. Kenji Kato has long been employed at a financial institution and has knowledge of finance and accounting.He also
served as an officer in the manufacturing industry and has abundant experience and broad knowledge of compliance.
We have nominated Mr. Kenji Kato as a candidate for Substitute Auditor because we have determined that he will be able
to appropriately perform his duties as a corporate auditor of the Company.
[Interests in the Company]
There is no special interest between Mr. Katou and the Company.

(Notes)1. Mr. Kenji Katou is candidates for Substitute Auditor.
2. If Mr. Kenji Kato is appointed as a corporate auditor, the Company plans to register him as an independent director as stipulated by
the Tokyo Stock Exchange.
3. Pursuant to Article 427, Paragraph 1 of the Companies Act, the Company stipulates in its Articles of Incorporation that it may enter
into an agreement to limit liability for damages under Article 423, Paragraph 1 of the Companies Act. If the appointment of Mr.
Kenji Katou is appointed, the Company plans to enter into a similar liability limitation agreement with him.
The maximum amount of liability for damages shall be the minimum amount provided for in Article 425, Paragraph 1 of theCompanies Act when an Outside Auditor performs his duties in good faith and without gross negligence.

- 11 -