Code No. 1662
June 2, 2016
Osamu Watanabe, President
Japan Petroleum Exploration Co., Ltd. (JAPEX)
1-7-12 Marunouchi, Chiyoda-ku, Tokyo
To All Shareholders:

Notification of the Convocation to
the 46th Ordinary General Meeting of the Shareholders
The 46th Ordinary General Meeting of the Shareholders of Japan Petroleum Exploration Co., Ltd. (hereinafterreferred to as the “JAPEX”) will be held according to the details below, and we kindly ask for your attendance.
If you are unable to attend the meeting, you may exercise your voting rights through a written document (Voting
Rights Exercise Form) or by electronic means (via the Internet). Please read the attached “Reference Documents
for Shareholders Meeting,” and exercise your voting rights after referring to “4. Guidance on the Exercise of
Voting Rights” on the following page, prior to 5:35 p.m., Thursday, June 23, 2016.
Thank you very much for your attention and cooperation.
Details:
1. Date and Time:
2. Location:
3. Agenda:
Announcements:

10:00 a.m., June 24, 2016 (Friday)
Station Conference Tokyo “Sapia Hall” (Sapia Tower 5F)
1-7-12 Marunouchi, Chiyoda-ku, Tokyo
1) Business report and consolidated financial report of the 46th Term (from April 1,2015 to March 31, 2016), and audit reports from the accounting auditor and Boardof Corporate Auditors on the consolidated financial report2) Financial report of the 46th Term (from April 1, 2015 to March 31, 2016)

Resolution items:
Item 1:
Appropriation of Surplus
Item 2:
Election of Five (5) Directors
Item 3:
Revision to Remuneration for Directors
Item 4:
Payment of Bonuses to Directors and Corporate Auditors

NOTE: This document is an abridged translation of the Japanese “Notification of the Convocation to the 46th
Ordinary General Meeting of the Shareholders” “Reference Documents for Shareholders Meeting” and“Financial Report” of JAPEX. This translation is intended for reference and convenience purposes only. In theevent of any discrepancy between this translation and the Japanese original, the original shall prevail. JAPEX
does not guarantee the accuracy and/or the completeness of this translation and shall have no liability for any
errors or omissions therein.

1

4. Guidance on the Exercise of Voting Rights[Exercise of Voting Rights in Writing (Voting Rights Exercise Form)]
Please indicate your approval or disapproval of each proposition on the enclosed Voting Rights Exercise
Form and then send it back so that it reaches us no later than 5:35 p.m., Thursday, June 23, 2016.
[Exercise of Voting Rights by Electronic Means (via the Internet)](1) To exercise your voting rights via the Internet, you must use the following voting service website(http://www.it-soukai.com/) designated by the Company. You are cordially requested to exercise yourvoting rights via the Internet prior to 5:35 p.m., Thursday, June 23, 2016.
(2) Please register your approval or disapproval of each proposition, by using the code and password provided
on your Voting Rights Exercise Form enclosed herewith and following the directions on the screen. Pleasecheck the “Guidance on the Exercise of Voting Rights via the Internet” shown on page 12 of this notice forthe details.
[Treatment of Voting Rights Exercised Repeatedly](1) If you exercise your voting rights both in writing and via the Internet, we will only accept the exercise ofyour voting rights via the Internet as valid.
(2) If you exercise your voting rights more than once via the Internet, we will only accept the last exercise ofyour voting rights as valid.
END*Upon your arrival at the Ordinary General Meeting of Shareholders, please submit the enclosed Voting Rights Exercise Formto the venue reception. Thank you.
*In case the Reference Documents for Shareholders Meeting, or business report, financial report or consolidated financial
report is modified, such modification shall be posted on the JAPEX website. (http://www.japex.co.jp/)2Reference Documents for Shareholders’ Meeting
Item 1: Appropriation of Surplus
JAPEX employs the basic policy of long-term, stable distribution of dividends in considering the retained
earnings for investment in new oil and gas reserves inside and outside Japan and the improvement andexpansion of supply infrastructure, etc., as well as respecting the return of profits to our shareholders.
The year-end dividends for the 46th term will be as follows:
Details Concerning the Year-End Dividends(1) Type of dividend property: Money(2) Distribution and total amount of dividend property:
25 yen per share of common stock
Total amount of dividends: 1,428,815,925 yen(3) Effective date of distribution of surplus: June 27, 2016
Item 2: Election of Five (5) Directors
Upon closing of this general meeting of shareholders, Directors Yuji Tanahashi, Shigeru Mitsuya, andMotofumi Hyodo will resign, and therefore in order to fill their vacancies three (3) Directors will be elected,
along with addition of two (2) new Directors, including one (1) Outside Director, to strengthen the
management structure. We kindly ask our shareholders to elect a total of five (5) new Directors. According to
the Articles of Incorporation of the Company, the term of office of the newly elected Directors shall be until
the expiration of the term of other Directors currently in office.
The candidates for Director are as listed below:
JAPEX
Name
Brief history, Position and responsibilities in JAPEX or
CandidatesharesNo.
(Date of birth)
Significant positions concurrently held
owned
April 1976 Joined The Ministry of International Trade and Industry(hereinafter referred to as the “MITI”)
July 2010
Vice-Minister for International Affairs, Ministry of
Economy, Trade and Industry (hereinafter referred to as
Hideichi Okada
the “METI”)—(October 15, 1951) July 2014
Senior Executive Vice President at NEC Corporation
April 2016 Advisor to President at JAPEXMay 2016
Advisor (up to the present date)1<Significant position concurrently held>
Outside Director at The Yokohama Rubber Co., Ltd.
[Reasons for nomination as a candidate for Director]
Hideichi Okada has extensive administrative experience in government positions and managementcareer in the private sector, as well as distinguished insights from an international perspective. We
expect JAPEX management will benefit from his experience and insights, and have therefore nominatedhim as a candidate for Director.
April 1980 Joined JAPEXMarch 2009 General Manager of Operations Dept., Development
Division
July 2010
Vice President of Development Division
Executive Officer, General Manager of Hokkaido District 1,500
Takahisa Inoue June 2011
(April 18, 1955)
Office, Domestic Project Division
sharesJune 2014
Managing Executive Officer, General Manager of
Hokkaido District Office, Domestic Project Division2
June 2015
Managing Executive Officer, Vice President of Domestic
Project Division (up to the present date)[Reasons for nomination as a candidate for Director]
In addition to specializing in oil and gas field development and production and operations managementin Japan and overseas, Takahisa Inoue has extensive experience and knowledge of our domestic project
division. We expect JAPEX management will benefit from his experience and knowledge, and havetherefore nominated him as a candidate for Director.

3Candidate
No.

Name
(Date of birth)

Brief history, Position and responsibilities in JAPEX or
Significant positions concurrently held
April 1980
July 2006
Oct. 2010
June 2012

Hajime Ito(May 27, 1957)

June 2015
3

4

5

Joined MITI
Deputy Director-General, METI
Advisor to President at JAPEX
Executive Officer, Vice President of Americas & Russia
Project Division and Advisor to President of Canada Oil
Sands Project Dept.
Managing Executive Officer, Vice President of Americas& Russia Project Division and Advisor to President of
Canada Oil Sands Project Dept. (up to the present date)

JAPEX
sharesowned

300
shares[Reasons for nomination as a candidate for Director]
Hajime Ito has international experience in government positions, as well as extensive experience andknowledge of energy administration in government offices and our overseas project divisions. We
expect JAPEX management will benefit from his experience and knowledge, and have therefore
nominated him as a candidate for Director.
April 1978 Joined JAPEX
Feb. 2009
General Manager of Kangean Project Dept.
June 2012
Executive Officer
Hirotaka Tanaka
1,200
Oct. 2013
Executive Officer, Vice President of Asia & Oceania(March 19, 1955)
shares
Project Division
June 2015
Managing Executive Officer, Vice President of Asia &Oceania Project Division (up to the present date)[Reasons for nomination as a candidate for Director]
In addition to being a specialist in drilling technology in the oil and mining industries, Hirotaka Tanaka
has extensive experience and knowledge of our overseas project divisions. We expect JAPEX
management will benefit from his experience and knowledge, and have therefore nominated him as a
candidate for Director.
April 1975 Appointed prosecutor
June 2001
Head of Special Investigation Force, The Tokyo District
Public Prosecutors OfficeJan. 2009
Deputy Prosecutor-General, Supreme Public Prosecutors
OfficeApril 2011 Recorded attorney (Daiichi Tokyo Bar Association) (upto the present date)
Tetsuo Ito
April 2011 Of Counsel at Nishimura & Asahi (up to the present date)—(March 15, 1948)<Significant positions concurrently held>
Of Counsel at Nishimura & Asahi
Outside Corporate Auditor at UNIZO Holdings
Company, Limited
Outside Corporate Auditor at Takasago ThermalEngineering Co., Ltd.
Outside Corporate Auditor at Asahi Kasei Corp.
[Reasons for nomination as a candidate for Outside Director]
Although Tetsuo Ito has no previous experience in being directly involved in corporate management, he
has extensive knowledge and experience as a legal specialist. We expect him to supervise and provide
wide-ranging proposals for JAPEX management, and have therefore nominated him as a candidate for
Outside Director.

(Notes) 1. All the candidates above are newly appointed candidates for Director.
2. Hideichi Okada will assume the position of President of JAPEX Garraf Ltd., with which JAPEX is engaged in
crude oil transactions. In addition, he will assume the position of President of Japex Offshore, Ltd., with which
JAPEX is entrusted funds via the cash management system.
No significant interest-based relationship exists between other candidates for Director and JAPEX.
3. Tetsuo Ito is a candidate for Outside Director. We will submit to the Tokyo Stock Exchange a report that we
appointed him as an Independent Officer.
4. Tetsuo Ito has held the office of Outside Corporate Auditor at Takasago Thermal Engineering Co., Ltd. sinceJune 2014. In November 2014, the company and its former employees were respectively fined and given asuspended jail sentence for violation of the Antimonopoly Act. In addition to these sanctions, in January 2015,
the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) ordered the company to suspend its
4

operations for 60 days; in October of the same year, the Japan Fair Trade Commission issued cease and desist
orders and surcharge payment orders.
Meanwhile, regarding Asahi Kasei Corp., for which he has served as Outside Corporate Auditor since June 2015,its subsidiary received administrative dispositions in January 2016 by MLIT for the violation of the Construction
Business Act. MLIT ordered to suspend business for 15 days and business improvement, together with an
instruction to take steps to prevent recurrence of the violation.
He was not involved in any of the above operations that were subject to reprimand and he successfully fulfilled
his duties by making opinions to prevent recurrence of a similar event.
5. When Item 2 is approved and resolved as proposed and the election of Tetsuo Ito is approved, JAPEX plans toenter into a limited liability agreement with him in accordance with the provision of Article 427, Paragraph 1, of
the Companies Act, to limit his liability as stipulated in Article 423, Paragraph 1, of the Companies Act. The
amount of liability under the agreement is limited to the amount provided by laws and regulations.

Item 3: Revision to Remuneration for Directors
The amount of remuneration for Directors of JAPEX was resolved at the 45th Ordinary General Meeting of
Shareholders held on June 24, 2015 to be within 50 million yen per month (within 3 million yen of that amountper month for Outside Directors). This amount has remained the same to date. However, in light of the factthat the number of Outside Directors will increase when Item 2 is approved and resolved as proposed, JAPEX
proposes to revise the amount of Outside Directors’ portion of remuneration for Directors to 4 million yen permonth.
Remuneration for Directors (including that for Outside Directors) shall be within 50 million yen per month,and shall not include the portion of remuneration as employees for Directors who also serve as employees, as
has been in the past.
The number of Directors is currently fourteen (14) (including two (2) Outside Directors). When Item 2 isapproved and resolved as proposed, the number will be sixteen (16) (including three (3) Outside Directors).
Item 4: Payment of Bonuses to Directors and Corporate Auditors
In view of the amounts paid in the past and the business performance of the fiscal year ended March 31,
2016, a total bonus amount of 49,157,455 yen (44,357,455 yen for Directors and 4,800,000 yen for Corporate
Auditors) will be paid to fifteen (15) Directors (two (2) Outside Directors are not included) and five (5)Corporate Auditors tenured during the fiscal year ended March 31, 2016.

5

Consolidated Balance Sheet(As of March 31, 2016)(Unit: millions of yen)Accounting titles(Assets)
Current assets
Cash and deposits
Notes and accounts receivable-trade
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Deferred tax assets

Amount173,638
104,359
24,642
23,551
4,414
29
4,135
1,078

Short-term loans receivable
Other
Allowance for doubtful accounts
Non-current assets
Property, plant and equipment
Buildings and structures
Wells
Machinery, equipment and vehicles
Mineral resources
Land
Construction in progress
Other
Intangible assets
Other
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Net defined benefit asset
Other
Allowance for doubtful accounts
Allowance for overseas investment loss

28
11,430(30)
533,963336,218
41,802
34,046
20,11640,935
13,719179,420
6,177
9,698
9,698
188,046
135,261
16,522
3,575
888
34,705(58)(2,847)

Total assets

707,601(Amounts truncated to millions of yen)

6

Accounting titles(Liabilities)
Current liabilities
Notes and accounts payable-trade
Provision for directors’ bonuses
Other
Non-current liabilities
Long-term loans payable
Deferred tax liabilities
Provision for directors’ retirement
benefits
Net defined benefit liability
Asset retirement obligations
Other
Total liabilities(Net assets)
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Accumulated other comprehensive
incomeValuation difference on
available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation
adjustment
Remeasurements of defined
benefit plans
Non-controlling interests
Total net assets
Total liabilities and net assets

Amount32,2908,585
67
23,637
179,994130,030
24,26788
3,574
17,811
4,221
212,284

360,109
14,288
157
345,674(10)
60,89950,554
3
10,087
253
74,308495,317707,601

Consolidated Statement of Income
From April 1, 2015
To March 31, 2016
(Unit: millions of yen)Accounting titles
Net sales
Cost of sales
Gross profit
Exploration expenses
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Gain on sales of securities
Share of profit of entities accounted for using
equity method
Other
Non-operating expenses
Interest expenses
Loss on sales of securities
Loss on valuation of derivatives
Share issuance cost
Foreign exchange losses
Other
Ordinary income
Extraordinary income
Gain on sales of non-current assets
Extraordinary losses
Loss on retirement of non-current assets
Impairment loss
Other
Profit before income taxes
Income taxes-current
Income taxes-deferred
Loss
Loss attributable to non-controlling interests
Profit attributable to owners of parent

Amount240,302
193,02247,2796,516
32,426
8,336
1,470
2,498
0
1,624
1,121
784
1
29
0
8,805
778

82
121
3,098
5
3,633
2,755

(Amount truncated to millions of yen)

7

6,715

10,399
4,652
82

3,225
1,508
6,388
4,879
6,970
2,090

Consolidated Statement of Changes in Equity
From April 1, 2015
To March 31, 2016
(Unit: millions of yen)
Shareholders’ equity

Balance at beginningof current period

Accumulated other comprehensive income

Capitalstock

CapitalsurplusRetainedearnings

Treasuryshares

14,288―346,441(10)

Valuationdifference
Totalonshareholdavailableers’ equity
for-salesecurities
360,719

86,174

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

312,980RemeasureTotal
ments of accumulate- Non-controlldefineded other ing interests
benefit comprehenplans
sive income
521

99,67880,249Total
net
assets

540,647

Changes of items
during period
Dividends of surplus(2,857)(2,857)(2,857)

Profit attributable toowners of parent

2,090

2,090

2,090

157

157

Changes in treasury
shares of parent
arising fromtransactions with
non-controllingshareholders

157

Net changes of items
other thanshareholders’ equity
Total changes of items
during period
Balance at end ofcurrent period(35,619)0(2,892)(267)(38,779)(5,941)(44,721)

－

157

(767)

－

(609)

(35,619)0(2,892)(267)(38,779)(5,941)(45,330)

14,288

157

345,674(10)

360,10950,554

3

10,087

253

60,89974,308495,317(Amount truncated to millions of yen)

8Balance Sheet(As of March 31, 2016)(Unit: millions of yen)Accounting titles(Assets)
Current assets
Cash and deposits
Accounts receivable-trade
Securities
Merchandise and finished goods
Raw materials and supplies
Advance payments-trade
Prepaid expenses
Deferred tax assets

AmountAccrued income
Short-term loans receivable
Short-term loans receivable fromsubsidiaries and associates
Accounts receivable-other
Advances paid
Other
Non-current assets

51
1
553
273
840
1,217
354,402

Property, plant and equipment

64,995

Buildings
Structures
Wells
Machinery and equipment
Vessels
VehiclesTools, furniture and fixtures
Land
Leased assets
Construction in progress
Wells in progress
Intangible assets
Leasehold right
Software
Other

7,918
14,969489
13,74008
1,256
11,181
3,042
12,063
327
1,544
164
971
408

Investments and other assets
Investment securities
Shares of subsidiaries and associates

287,861
96,817
175,064

Long-term loans receivable
Long-term loans receivable fromsubsidiaries and associates
Long-term prepaid expenses
Prepaid pension cost

1,051
17,515

Other
Allowance for doubtful accounts
Allowance for overseas investment loss

Total assets

95,27650,454
13,84319,019
4,309
3,035
9
592
1,075

2,377
1,320
3,026
(16)
(9,294)

449,679(Amount truncated to millions of yen)
9

Accounting titles(Liabilities)
Current liabilities
Accounts payable-trade
Lease obligations
Accounts payable-otherAccrued expenses
Income taxes payable
Advances received
Deposits received
Deposits received from subsidiaries
and associates
Provision for directors’ bonuses
Asset retirement obligations
Other
Non-current liabilities
Long-term loans payable
Lease obligations
Deferred tax liabilities
Provision for retirement benefits
Provision for loss on business of
subsidiaries and associates
Asset retirement obligations
Other
Total liabilities(Net assets)
Shareholders’ equity
Capital stock
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for overseas investment
loss
Reserve for mine prospecting
Reserve for special depreciation
Reserve for advanced
depreciation of non-current assets
Reserve for exploration
General reserve
Retained earnings brought
forwardTreasury shares
Valuation and translation
adjustments
Valuation difference on
available-for-sale securities
Deferred gains or losses onhedgesTotal net assets
Total liabilities and net assets

Amount32,305
5,841
434
1,746
6,129
137
0
131
17,31449518
252,084
15,521
2,768
18,5073,358
223
11,005698
84,390314,723
14,288300,445
3,572
296,873
5,225
22,694432
211
47,246
171,600
49,463(10)
50,56550,567(1)
365,288449,679

Statement of Income
From April 1, 2015
To March 31, 2016
(Unit: millions of yen)Accounting titles
Net sales
Cost of sales
Gross profit
Exploration expenses
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Interest on securities
Dividend income
Other
Non-operating expenses
Interest expenses
Loss on valuation of shares of subsidiaries andassociates
Provision for overseas investment loss
Foreign exchange losses
Loss on valuation of derivatives
Other
Ordinary income
Extraordinary income
Gain on sales of non-current assets
Extraordinary losses
Loss on retirement of non-current assets
Loss on sales of non-current assets
Impairment loss
Profit before income taxes
Income taxes-current
Income taxes-deferred
ProfitAmount181,378
142,406
38,972
3,211
23,914
11,845
947
17
4,914
942

6,821

144
481
930
735
29
581

82
89
5
2,407
729
2,304

(Amount truncated to millions of yen)

10

2,903
15,76482

2,501
13,344
3,033
10,310Statement of Changes in Equity
From April 1, 2015
To March 31, 2016
(Unit: millions of yen)

58

(58)

－

－

(89)

89

－

－

4,570

(4,570)－－(3,332)

3,332

－

－

4

(4)

－

－

(71)

71

－

－

(2)

－

－

21,455498

218

47,246 171,600

2
(9)

－
3,572

Total shareholders’equityTotal retained
earnings(10) 307,270

5,255(30) 1,238
5,225 22,694

(66)
432

(7)
211

－
－
47,246 171,600

Treasury shares

Retainedearnings
brought forward

292,992

3,572

General reserve

43,144

Reserve foroverseas
investment loss
Reserve formine
prospecting
Reserve for
specialdepreciation
Reserve foradvanceddepreciation of
non-current
assetsReserve for
exploration

Balance at beginning of current period 14,288
Changes of items during period
Provision of reserve for overseas
investment loss
Reversal of reserve for overseas
investment loss
Provision of reserve formine prospecting
Reversal of reserve formine prospecting
Provision of reserve for special
depreciation
Reversal of reserve for special
depreciation
Provision of reserve for advanced
depreciation of non-current asset
Reversal of reserve for advanced
depreciation of non-current assets
Dividends of surplus
ProfitNet changes of items other thanshareholders’ equity
Total changes of items during period－
Balance at end of current period
14,288Legal retained
earnings

Capital Stock

Shareholders’ equity
Retained earnings
Other retained earnings

9

－

－

(2,857)
10,310(2,857)
10,310(2,857)
10,3106,319
49,463

7,453
300,4457,453－(10) 314,723

Valuation and translation adjustments
Balance at the end of current period
Changes of items during period
Provision of reserve for overseas
investment loss
Reversal of reserve for overseas
investment loss
Provision of reserve formine prospecting
Reversal of reserve formine prospecting
Provision of reserve for special
depreciation
Reversal of reserve for special
depreciation
Provision of reserve for advanced
depreciation of non-current asset
Reversal of reserve for advanced
depreciation of non-current assets
Dividends from surplus
ProfitNet changes of items other thanshareholders’ equity
Total changes of items during period
Balance at the end of current period

Valuation difference on
available-for-sale securities
86,167

Deferred gains or
Total valuation andlosses on hedges
translation adjustments―
86,167

Total net assets
393,437
－
－
－
－
－
－
－
－
(2,857)
10,310(35,599)(1)(35,601)(35,601)(35,599)
50,567(1)(1)(35,601)
50,565(28,148)
365,288(Amounts truncated to millions of yen)11

Guidance on the Exercise of Voting Rights via the Internet
1. Matters to be acknowledged when exercising voting rights via the Internet
When exercising voting rights via the Internet, please acknowledge the following matters before exercising
the rights.
(1) Exercise of voting rights via the Internet is only possible by accessing the website (see URL shown below)
designated by the Company for the purpose of exercising voting rights. Please note that a code for the
exercise of voting rights and a password provided on your Voting Rights Exercise Form enclosed with theconvocation notice are necessary for exercising voting rights via the Internet.
(2) The code for the exercise of voting rights and password provided this time are effective only for this General
Meeting of Shareholders. For the next General Meeting, a new code and a password will be issued.
(3) If you exercise your voting rights both in writing and via the Internet, we will only accept the exercise ofyour voting rights via the Internet as valid.
(4) If you exercise your voting rights more than once via the Internet, we will only accept the last exercise ofyour voting rights as valid.
(5) Any access charge to be paid to a service provider, communication charge to telecommunications carriers, orother costs relating to the Internet shall be borne by shareholders.
2. Instructions for exercising voting rights via the Internet(1) Access http://www.it-soukai.com/.
(2) Enter your code for the exercise of voting rights and password, and click the “Login” button.
The code for the exercise of voting rights and password are provided on your Voting Rights Exercise Form
enclosed with the convocation notice.
(3) Exercise your voting rights by following the guidance on the screen and registering your approval ordisapproval of each proposition prior to 5:35 p.m., Thursday, June 23, 2016.
3. Security
You may exercise your voting rights safely due to the encryption technology (SHA-2) used to prevent yourvoting information from being tampered with or spoofing.
The code for the exercise of voting rights and password provided on your Voting Rights Exercise Form areimportant to verify that the person voting is a genuine shareholder. Please maintain them as strictly confidential.
In no event will the Company ask you your password.
4. Inquiries
If you have any questions about the exercise of voting rights via the Internet, please contact the transfer agent,
Stock Transfer Agency Department of Mizuho Trust & Banking Co., Ltd. (see below)(1) For exclusive inquiries about how to exercise your voting rights via the Internet, etc.
Phone: 0120-768-524 (toll free)
Hours: 9:00 a.m. to 9:00 p.m., excluding Saturdays, Sundays and national holidays(2) For inquiries other than those above (1).
Phone: 0120-288-324 (toll free)
Hours: 9:00 a.m. to 5:00 p.m., excluding Saturdays, Sundays and national holidays[To Institutional Investors]
Institutional investors may use the electronic platform for the exercise of voting rights operated by ICJ Inc. if you
apply in advance.
###

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