March 15, 2024
To whom it may concern
Corporate Name: Nishimoto Co., Ltd.
Representative: Yoshiro Susaki, Chairman & CEO(Code No.: 9260 Prime Market of the Tokyo Stock Exchange)
Contact: Yuji Sasa, President, Director of the Board, Managing Executive Officer, COO, CFO(Phone: 03-6870-2015)

Progress Status Based on the Plan to Meet the Continued Listing Requirements
Nishimoto Co., Ltd. (the “Company”) submitted a plan to meet the continued listing requirements of the Prime
Market on December 27, 2021 and has disclosed its content.
The progress status of the plan as of the end of December 2023 is as follows:
1. Change in the status of the Company’s compliance with the continued listing requirements and the target period:
The table below shows the status of the Company’s compliance with the continued listing requirements of thePrime Market as of the end of December 2023, including any change thereof.
As shown in the table, the Company does not meet the requirements for the tradable share ratio, and willcontinue to take various measures to meet the continued listing requirements by December 2025.
No. ofShareholders

No. of Tradable Tradable Share Tradable Share
Shares (Units)
Market CapRatio

Average Daily
Trading Value

As of June 30, 2021
(Record date fortransition)*1

4,907

38,488JPY 10.76
billion

26.8%

JPY 0.028
billionDecember 31, 2023*1, 2

6,834

38,047

JPY 21.71
billion

26.5%

JPY 0.159
billionRequirements for Continued Listing800

20,000

JPY 10.0billion

35%

JPY 0.02 billion

Target Period–––

End ofDecember 2025–

Compliance

Yes

Yes

Yes

No

Yes

The Company’sStatus and Change
Thereof*1 The Company’s compliance status as of each record date is calculated based on information on the distribution of ownership of share certificates of the Companyand other relevant information available to Tokyo Stock Exchange, Inc. (the “TSE”) as of the respective record date.
*2 The average daily trading volume shown in this row is based on the “Status of Compliance with Requirements for Continued Listing (Trading VolumeRequirements),” a notice received from the TSE on January 11, 2024.

2. Status and evaluation of measures that have been taken to meet the requirements for continued listing:
The Company established a basic policy, and identified issues and measures to be taken to meet therequirements for continued listing on the Prime Market, in the “Application to Select the Prime Market in New
Market Segments and Submission of a Plan to Meet the Requirements for Continued Listing“ announced onDecember 27, 2021 (the “Initial Plan”). Based on the policy, the Company has diligently implemented thefollowing measures to further enhance its corporate value during the fiscal year ended December 2023.
Announcement of the Medium-Term Business Plan
In October 2023, the Company announced its Medium-Term Business Plan (2024 to 2026), starting withthe fiscal year ending December 31, 2024 and concluding with the fiscal year ending December 31,2026. By promoting the business strategies and measures outlined in this plan, the Company will
accelerate its growth toward further progress and evolution, centering on its mainstay Asian Food GlobalBusiness.

Promotion of IR activities and reinforcement of corporate governanceTo increase awareness of the Company and its business, promote understanding of its growth strategy,
and increase the activity and liquidity of trading of the Company’s shares, it has made endeavors toenhance its investor relations activities by actively holding investor meetings and such. In addition, as
the scale of the Group’s business expands due to an increase in the number of consolidated subsidiaries
overseas and other factors, the Company has been actively enhancing its corporate governance system
in order to meet the discipline and social mission required of a company listed on the Prime Market.
In terms of business performance, consolidated net sales, operating income, and ordinary income for thefiscal year ended December 31, 2023 reached respective record highs of 300.8 billion yen, 11.0 billion
yen, and 12.5 billion yen, all of which represent increases from the previous fiscal year for the third
consecutive year. Against the backdrop of these strong financial results and the announcement of theaforementioned medium-term management plan, investor relations activities, including investor
meetings, have gained momentum, and the number of shareholders, market capitalization of shares incirculation, and average daily trading value as of the end of December 2023 have all increased
significantly from the record date for transition.
In addition, since the end of December 2023, the following announcements have been made regarding theCompany’s shares, and the progress towards the improvement of the tradable share ratio have been affirmed.
Reduction of the investment unit through a stock split
Since the announcement of the above-mentioned medium-term management plan, the investment unitof the Company’s shares has remained above 500,000 yen, a reference level set by the exchange.
Furthermore, in order to increase the liquidity of the Company’s shares and expand the investor base,the Company announced that it would conduct a three-for-one stock split for each share of common
stock held by shareholders as of June 30, 2024, the record date.
Change (decrease) in the shareholding ratios of major shareholders
As part of initiatives to improve the ratio of tradable shares, which is a nonconforming item, theCompany has placed a request with its major shareholders, both corporate and individual, to relinquish
a portion of the Company’s shares that they hold. On March 8, 2024, a large-shareholding report wassubmitted by Yoshiro Susaki, a major individual shareholder, and the Company confirmed that 300,000of the shares held by Mr. Susaki had been sold to Mizuho Trust & Banking Co., Ltd. on March 1, 2024.
This volume of shares corresponds to 2.09% of the total 14,353,140 shares issued by the Company (asof December 31, 2023, including treasury stock).
3. Issues and measures to be taken going forward
Achieving a tradable share ratio of 35% or more continues to be a challenge that the Company needs to resolve
to maintain its listing on the Prime Market, but as mentioned above, progress is being made towards resolving
this nonconformity. The Company will continue to implement measures to achieve sustainable growth andstrive to enhance its corporate value over the medium to long term. Furthermore, as stated in its initial plan,
the Company will continue discussing the implementation of measures to improve the distribution ofshareholdings and the liquidity of shares, aiming to meet the requirements for continued listing by December
2025.