Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes noresponsibility for this translation or for direct, indirect or any other forms of damages arising from the translations.

Securities identification code: 8137
June 8, 2022
To our shareholders:Hiroyuki Tanaka
President and Representative Director
SUN-WA TECHNOS CORPORATION
3-1-1, Kyobashi, Chuo-ku, TokyoNOTICE OF THE 74TH ORDINARY GENERAL MEETING OF SHAREHOLDERS
We are pleased to announce the 74th Ordinary General Meeting of Shareholders of SUN-WA TECHNOSCORPORATION (the “Company”), which will be held as described below.
Instead of attending the meeting in person, you may exercise your voting rights by postal mail or via the Internet.
Please review the attached Reference Documents for the General Meeting of Shareholders (Japanese Only), indicate
your approval or disapproval of the proposals on the enclosed Voting Rights Exercise Form and return it by postal
mail to reach us no later than 5:30 p.m., Thursday, June 23, 2022 (Japan time). If you wish to exercise your voting
rights via the Internet, please do so on the voting website designated by the Company (https://www.web54.net) nolater than the aforementioned date and time. For details regarding the exercise of voting rights via the Internet, please
read Information on Online Voting (Japanese Only).
Notice regarding Novel Coronavirus Disease (COVID-19)
If you will be attending the meeting in person, we ask, considering the risk of infections of the novel coronavirus
disease (COVID-19), that you check the current situation regarding the spread of the infection and pay carefulattention to your own physical health before traveling to the venue; please also take precautions to prevent infection,such as wearing a mask. Those who appear to be unwell may be approached by employees of the Company.
Inside the venue, employees of the Company will wear masks and may take other measures to prevent infection
according to the situation.
Please also consider exercising your voting rights for this General Meeting of Shareholders by postal mail or via theInternet.
Gifts will not be provided to shareholders who attend the meeting.
1. Date and Time: Friday, June 24, 2022 at 10:00 a.m. (Japan time)(Reception opens at 9:15 a.m.)
2. Venue:
Fifth floor of the Tokyo Convention Hall
Tokyo Square Garden Building, 3-1-1, Kyobashi, Chuo-ku, Tokyo
3. Agenda of the Meeting:
Matters to be reported:
1. Business Report and Consolidated Financial Statements for the 74th Term (from April 1, 2021 to March 31,2022), as well as the results of audits of the Consolidated Financial Statements by the Accounting Auditor
and the Audit & Supervisory Committee
2. Non-consolidated Financial Statements for the 74th Term (from April 1, 2021 to March 31, 2022)
Matters to be resolved:
Proposal 1:
Partial amendments to the Articles of Incorporation
Proposal 2:
Election of seven (7) Directors (excluding Directors who are Audit & Supervisory
Committee Members)
Proposal 3:
Election of one (1) Director who is a Substitute Audit & Supervisory Committee Member
4. Instructions on Exercise of Voting Rights
Please refer to the Instructions on Exercise of Voting Rights (Japanese Only).

-1- When attending the meeting, please submit the enclosed Voting Rights Exercise Form at the reception desk.
 The following items are provided on the Company’s website in accordance with relevant laws and regulations and Article 18 of theCompany’s Articles of Incorporation, hence are not indicated on the attached documents of this Notice of the Ordinary General
Meeting of Shareholders.
“System to Ensure the Properness of Business Operations and the Operational Status of that System” in the Business Report
“Consolidated Statements of Changes in Equity” and “Notes to Consolidated Financial Statements” in the Consolidated Financial
Statements
“Non-consolidated Statement of Changes in Equity” and “Notes to Non-consolidated Financial Statements” in the Nonconsolidated Financial Statements
Furthermore, the documents posted on the Company’s website have been audited as part of the Business Report, Consolidated
Financial Statements, and Non-consolidated Financial Statements during the preparation of the audit reports by the Audit &Supervisory Committee and the Accounting Auditor.
 In the event of revisions to the Reference Documents for the General Meeting of Shareholders, the Business Report, the Nonconsolidated Financial Statements or the Consolidated Financial Statements, the revised documents will be made available on the
Company’s website (Japanese Only).
The Company’s website: https://www.sunwa.co.jp/ (Japanese Only)-2-

Reference Documents for the General Meeting of Shareholders
Proposals and Reference Information
Proposal 1:

Partial amendments to the Articles of Incorporation

1. Reasons for the proposal
Since the revised provisions provided for in the proviso to Article 1 of the Supplementary Provisions of the Act
Partially Amending the Companies Act (Act No. 70 of 2019) are to be enforced on September 1, 2022, theCompany proposes to make the following changes to its Articles of Incorporation in preparation for the
introduction of the system for providing Reference Documents for the General Meeting of Shareholders, etc. inelectronic format.
(1) Article 18, paragraph 1 of the proposed amendment stipulates measures to provide information that
constitutes the content of Reference Documents for the General Meeting of Shareholders, etc. in electronic
format.
(2) Article 18, paragraph 2 of the proposed amendment stipulates the scope of matters stated in paper-based
documents delivered to shareholders who request the issuance of paper-based documents.
(3) The provision regarding Internet Disclosure and Deemed Provision of Reference Documents for the
General Meeting of Shareholders, Etc. (Article 18 of the current Articles of Incorporation) will no longer
be necessary, and will be deleted.
(4) Accompanying the aforementioned establishment and deletion of provisions, supplementary provisions
regarding the effective date, etc. will be determined.
2. Details of the amendments
Details of the amendments are as follows:(The underlined parts represent the proposed amendments.)
Proposed amendment

Current Articles of Incorporation(Internet Disclosure and Deemed Provision of Reference
Documents for the General Meeting of Shareholders, Etc.)
Article 18.
When the Company convenes a general meeting ofshareholders, if it discloses information that is to be stated orpresented in the reference documents for the general meeting ofshareholders, business report, financial statements andconsolidated financial statements through the Internet inaccordance with the provisions prescribed by the Ministry ofJustice Order, it may be deemed that the Company has
provided this information to shareholders.
(Newly established)(Deleted)(Measures, etc. for Providing Information in Electronic Format)
Article 18.
1. When the Company convenes a general meeting ofshareholders, it shall take measures for providing
information that constitutes the content of reference
documents for the general meeting of shareholders, etc. inelectronic format.
2. Among items for which the measures for providing
information in electronic format will be taken, theCompany may exclude all or some of those items
designated by the Ministry of Justice Order fromstatements in the paper-based documents to be delivered toshareholders who requested the delivery of paper-based
documents by the record date of voting rights.

-3-

Current Articles of Incorporation
Supplementary Provisions(Transitional Measures Concerning Limited Liability
Agreements with Audit & Supervisory Board Members)
Limited liability agreements provided in Article 423, paragraph(1) of the Companies Act concerning acts committed by Audit& Supervisory Board Members (including those who wereformerly Audit & Supervisory Board Members) prior to theconclusion of the 73rd Ordinary General Meeting of
Shareholders shall also be governed by the provisions ofArticle 40 of the Articles of Incorporation prior to theamendment by resolution of the Ordinary General Meeting of
Shareholders.

(Newly established)

Proposed amendment
Supplementary Provisions(Transitional Measures Concerning Limited Liability
Agreements with Audit & Supervisory Board Members)
Article 1.
Limited liability agreements provided in Article 423, paragraph(1) of the Companies Act concerning acts committed by Audit& Supervisory Board Members (including those who wereformerly Audit & Supervisory Board Members) prior to theconclusion of the 73rd Ordinary General Meeting of
Shareholders shall also be governed by the provisions of Article
40 of the Articles of Incorporation prior to the amendment byresolution of the Ordinary General Meeting of Shareholders.
(Transitional Measures for Providing Informational Materials for
the General Meeting of Shareholders in Electronic Format)
Article 2.
1. The deletion of Article 18 (Internet Disclosure and Deemed
Provision of Reference Documents for the General Meetingof Shareholders, Etc.) of the current Articles ofIncorporation and the new establishment of Article 18(Measures, etc. for Providing Information in Electronic
Format) of the proposed amendment shall go into effect on
September 1, 2022, which is the enforcement date of theamended provision stipulated in the proviso to Article 1 of
the Supplementary Provisions of the Act Partially
Amending the Companies Act (Act No. 70 of 2019)(hereinafter referred to as the “enforcement date”).
2. Notwithstanding the provision of the preceding paragraph,
Article 18 (Internet Disclosure and Deemed Provision ofReference Documents for the General Meeting of
Shareholders, Etc.) of the current Articles of Incorporation
shall remain effective regarding any general meeting ofshareholders held on a date within six months of theenforcement date.
3. The Provisions of this article shall be deleted on the datewhen six months have elapsed from the enforcement dateor three months have elapsed from the date of the general
meeting of shareholders in the preceding paragraph,
whichever is later.

-4-

Proposal 2:

Election of seven (7) Directors (excluding Directors who are Audit & Supervisory Committee
Members)

At the conclusion of this meeting, the terms of office of all eight (8) Directors (excluding Directors who are Audit &Supervisory Committee Members; the same applies to the rest of this proposal) will expire. Therefore, the Company
proposes the election of seven (7) Directors, decreasing the number of Directors by one (1) to enable strategic andflexible decision-making by the Board of Directors.
This proposal was examined by the Audit & Supervisory Committee, but they have expressed no opinion.
Candidates for Director are as follows:
No.

Name

Attendance atBoard of Directors
meetings

Current position in the Company
President and Representative Director
President and Executive Officer
General Manager of Sales Div.
Director and Executive Officer
Manager of Electronics Dept., Sales Div.
Executive Manager of Asia-PacificRegional Headquarters
Director and Executive Officer
Manager of Machinery & Electronic Dept.,
Sales Div.
In charge of Solution Sales
Director and Executive Officer
General Manager of Kanto Office
Executive Officer
General Manager of Nagoya Office1

Hiroyuki Tanaka

2

Akihiro Matsuo

3

Hideaki Uesaka

4Takashi Hirano

5

Yoichi Echigo

6

Ichiro Kusanagi

External Director

7

Atsuko Sakamoto–

Re-election: Candidate for Director to be re-elected
New election: Candidate for Director to be newly elected
External: Candidate for External Director
Independent: Independent officer as defined by the securities exchange-5-

Re-election

16/16

Re-election

16/16

Re-election

12/12

Re-election

12/12

New election–

Re-election
External
Independent
New election
External
Independent

12/12

–

No.

1

2

Number of the
Career summary, and position and responsibility in
Company’s shares
the Company
owned(Significant concurrent positions outside the Company)
Apr. 1979
Joined the Company
Apr. 2004
General Manager of Nagoya Office
June 2006
Director
June 2008
Managing Director
General Manager of Sales Div.
Manager of Electronics Dept., Sales Div.
Manager of Electronics Sales Dept.
Manager of Sales Development Dept.
Hiroyuki Tanaka
Manager of Sales Promotion Dept.
(March 4, 1957)
Apr. 2011
Manager of International Procurement Dept.
July 2013
Manager of Customer Sales Dept.
Re-election
65,364
June 2014
Senior Managing Director
Attendance at Board of
Deputy General Manager of Sales Div.
Directors meetings: 16/16
June 2016
Director and Senior Executive Officer(100%)
General Manager of Sales Div. (current
position)
June 2017
President and Representative Director (current
position)
June 2020
President and Executive Officer (current
position)
Significant concurrent positions outside the Company–
Reasons for nomination as candidate for Director
Candidate Hiroyuki Tanaka has gained extensive experience and in-depth insight into the Company’s business activities
through performing his duties as President and Representative Director. Mr. Tanaka has also engaged in corporate
management as a Director of the Company for 16 years since June 2006, executing his duties in an appropriate manner.
Therefore, the individual renominated as a candidate for Director was judged as being capable of fulfilling his duties asa Director of the Company.
Apr. 1984
Joined the Company
Oct. 2011
Manager of Electronics Sales Dept.
Oct. 2015
Director and Vice President of SHANGHAI
SUN-WA TECHNOS CO., LTD. (temporarytransfer)
Apr. 2018
Executive Officer of the Company
Director and President of SHANGHAI SUNAkihiro Matsuo
WA TECHNOS CO., LTD. (temporary transfer)(August 11, 1961)
June 2020
Director and Executive Officer of the Company(current position)
Re-election
7,500
Executive Manager of Chinese Regional
Headquarters
Attendance at Board of
Executive Manager of Asia-Pacific Regional
Directors meetings: 16/16
Headquarters (current position)(100%)
Representative Director and President of
SHANGHAI SUN-WA TECHNOS CO., LTD.
(temporary transfer)
June 2021
Manager of Electronics Dept., Sales Div.
(current position)
Significant concurrent positions outside the Company–
Reasons for nomination as candidate for Director
Candidate Akihiro Matsuo has gained extensive experience and in-depth insight into the Company’s business activities
through carrying out his duties as a Director and Executive Officer. Mr. Matsuo was also involved in the Company’sbusiness activities through performing his duties of Director and President of SHANGHAI SUN-WA TECHNOS CO.,LTD. as an Executive Officer from April 2018, and has been responsible for corporate management as a Director of theCompany since June 2020, executing his duties in an appropriate manner. Therefore, the individual renominated as a
candidate for Director was judged as being capable of fulfilling his duties as a Director of the Company.
Name(Date of birth)

-6-

No.

3

4

5

Number of the
Career summary, and position and responsibility in
Company’s shares
the Company
owned(Significant concurrent positions outside the Company)
Apr. 1985
Joined the Company
Apr. 2009Manager of Mechatronics Sales Dept.
Apr. 2013
General Manager of Kyoto Branch
Apr. 2018
Executive Officer
Hideaki Uesaka
General Manager of Kansai Office(July 2, 1962)
Apr. 2020
Manager of Sales Management Dept., Kansai
OfficeRe-election
7,400
June 2020
Executive Officer
June 2021
Director and Executive Officer (current
Attendance at Board of
position)
Directors meetings: 12/12
Manager of Machinery & Electronic Dept.,(100%)
Sales Div. (current position)
Oct. 2021
In charge of Solution Sales (current position)
Significant concurrent positions outside the Company–
Reasons for nomination as candidate for Director
Candidate Hideaki Uesaka has gained extensive experience and in-depth insight through the performance of his duties
as a Director and Executive Officer. Mr. Uesaka has also performed the duties of General Manager of Kansai Office andManager of Sales Management Dept. of Kansai Office as an Executive Officer since April 2018, and has handled
corporate management as a Director of the Company since June 2021, executing his duties in the Company’s businessactivities in an appropriate manner. Therefore, the individual nominated as a candidate for Director was judged as being
capable of fulfilling his duties as a Director of the Company.
Apr. 1994
Joined the Company
Takashi Hirano
July 2014
General Manager of Tokyo-Nishi Branch(February 5, 1971)
Apr. 2018
General Manager of Kanto Office (current
position)
Re-election
3,500
Oct. 2019
Manager of Tokyo Sales Dept., Kanto Office
June 2021
Director and Executive Officer (current
Attendance at Board of
position)
Directors meetings: 12/12
Significant concurrent positions outside the Company(100%)–
Reasons for nomination as candidate for Director
Candidate Takashi Hirano has gained extensive experience and in-depth insight through the performance of his duties asa Director and Executive Officer. Mr. Hirano has also performed the duties of General Manager of Kanto Office sinceApril 2018, and has handled corporate management as a Director of the Company since June 2021, executing his duties
in the Company’s business activities in an appropriate manner. Therefore, the individual nominated as a candidate for
Director was judged as being capable of fulfilling his duties as a Director of the Company.
Apr. 1985
Joined the Company
June 2008
General Manager of Kyoto Branch
Yoichi Echigo
Apr. 2013
Manager of Mechatronics Sales Dept.
(August 3, 1962)
June 2016
General Manager of Osaka Branch
3,208
New election
Apr. 2018
General Manager of Fukuoka Branch
June 2020
Executive Officer, General Manager of Nagoya
Attendance at Board of
Office (current position)
Directors meetings: –Significant concurrent positions outside the Company–
Reasons for nomination as candidate for Director
Candidate Yoichi Echigo has gained extensive experience and in-depth insight through the performance of his duties as
an Executive Officer. Mr. Echigo has also performed the duties of General Manager of Nagoya Office since June 2020
as an Executive Officer, executing his duties in the Company’s business activities in an appropriate manner. Therefore,
the individual nominated as a new candidate for Director was judged as being capable of fulfilling his duties as a
Director of the Company.
Name(Date of birth)

-7-

No.

Name
(Date of birth)
Ichiro Kusanagi(May 8, 1956)
Re-election
External
Independent

6

7

Notes:

Career summary, and position and responsibility in
the Company(Significant concurrent positions outside the Company)
Apr. 1987
Registered as an attorney at law
Joined Sugawara Law Office
Apr. 1992
Established Kusanagi Ichiro Law Office(current position)
June 2021
External Director of the Company (current
position)
Significant concurrent positions outside the Company
Attorney at Law of Kusanagi Ichiro Law Office

Number of theCompany’s shares
owned

200

Attendance at Board of
Directors meetings: 12/12(100%)
Reasons for nomination as candidate for External Director and summary of expected roles
The Company has nominated Ichiro Kusanagi as a candidate for External Director, expecting that, based on his
extensive experience and broad knowledge as a lawyer, he will strengthen the function of the Board of Directors andsupervise the execution of business, etc., from an independent perspective.
Although Mr. Kusanagi has not been involved in corporate management other than by serving as an outside officer, theCompany has judged that his deep knowledge of corporate law as an attorney at law enables him to appropriately
execute the duties of an External Director of the Company.
Apr. 1983
Joined Japan Airlines Co., Ltd.
Atsuko Sakamoto(October 15, 1962)
Apr. 1991
Joined BASF Japan Ltd.
Feb. 1995
Founded Prime (currently CEO of Prime Time
New election
Inc. (current position))0
External
Significant concurrent positions outside the Company
Independent
CEO of Prime Time Inc.
Attendance at Board of
Directors meetings: –Reasons for nomination as candidate for External Director and summary of expected roles
The Company has nominated Atsuko Sakamoto as a new candidate for External Director, expecting that, based on her
extensive experience and broad knowledge as a human resources development specialist, she will strengthen thefunction of the Board of Directors and supervise the execution of business, etc., from an independent perspective.
1. There is no special interest between any of the candidates for Director and the Company.
2. The Company has entered into a directors’ and officers’ liability insurance policy with an insurance company as provided
for in Article 430-3, paragraph (1) of the Companies Act. The scope of the insured of the aforementioned insurance is all
officers of the Company (including Executive Officers), for whom the Company fully bears the insurance premium costs.
The insurance policy covers the costs of litigation and compensation for damages in a case where a claim for damages ismade during the insurance period as a result of the execution of duties by the insured.
However, in order for the properness of duties of the insured officers not to be impaired by the contract, the insurance
policy shall not cover any costs incurred from an act disturbing public order.
3. Special notes on the candidates for External Director are as follows:(1) Limited liability agreements with External Director
Pursuant to the provisions of Article 427, paragraph (1) of the Companies Act, the Company has entered into a limited
liability agreement with candidate Ichiro Kusanagi to limit his liability for damages under Article 423, paragraph (1)of the same Act. Liability pursuant to this agreement will be restricted to the statutory minimum liability amount. If
Mr. Kusanagi is re-elected, the Company plans to renew this agreement with him. If Atsuko Sakamoto is elected, theCompany plans to enter into the same limited liability agreement with her.
(2) Term of office of External Director
Mr. Kusanagi is currently an External Director of the Company, and at the conclusion of this meeting, his tenure will
have been one year.
(3) Notification concerning the designation as an independent officer
The Company has submitted notification to Tokyo Stock Exchange, Inc. that Mr. Kusanagi has been designated as
an independent officer as provided for by the aforementioned exchange. If the re-election of Mr. Kusanagi is approved,
the Company plans for his designation as an independent officer to continue. If the election of Ms. Sakamoto isapproved, the Company plans to submit notification to Tokyo Stock Exchange, Inc. concerning her designation as anindependent officer as provided for by the aforementioned exchange. Ms. Sakamoto satisfies the requirements for an
independent officer as provided for by Tokyo Stock Exchange, Inc.

-8-

(Reference) Skill Matrix of Directors (If each candidate is elected at this General Meeting of Shareholders)
The Board of Directors of the Company shall consist of individuals with expert knowledge and experience related tocorporate management in each field.
Among these, fields that are especially related to corporate management are defined below, and the Company expects
each Director to fully utilize their abilities.
Moreover, the following structure of the Board of Directors has been created based on the assumption that all
proposals for the election of directors are approved at this General Meeting of Shareholder as proposed.
Fields that are Especially Needed
Corporate

Director

Management

Sales

Global

●

●

●

●

●

●

●

●

●

●

●

●

●

●

●

●

●

Management

Engineering

Accounting
and Finance

Law

Personnel

●

●

IT

Strategy

Hiroyuki Tanaka(Age: 65)
Akihiro Matsuo(Age: 60)
Hideaki Uesaka(Age: 59)
Takashi Hirano(Age: 51)
Yoichi Echigo(Age: 59)
Ichiro Kusanagi(Age: 66)
Atsuko Sakamoto(Age: 59)
Kazuya Hanayama(Age: 61)

External
Independent●

External
Independent●

Audit & Supervisory
Committee Member●●

Yasuo Nakamura(Age: 72)

Audit & Supervisory
Committee Member
External
Independent●●

Satoru Ueno
(Age: 70)

Audit & Supervisory
Committee Member
External
Independent

●

●

●
●

●

●

* The above list only includes the main skills that each candidate is expected to possess. Ages are as of the holding of this General
Meeting of Shareholder.

-9-

Proposal 3:

Election of one (1) Director who is a Substitute Audit & Supervisory Committee Member

The Company proposes the election of one (1) Director who is a Substitute Audit & Supervisory Committee Member
in preparation for cases where the number of Directors who are Audit & Supervisory Committee Members falls
below the number stipulated by law.
Moreover, the validity of such election may only be cancelled based on a resolution by the Board of Directors withthe consent of the Audit & Supervisory Committee prior to the appointment. The consent of the Audit & Supervisory
Committee has been obtained for this proposal.
The Candidate for Director who is a Substitute Audit & Supervisory Committee Member is as follows:
Name(Date of birth)

Career summary, and position and responsibility in the Company(Significant concurrent positions outside the Company)
Apr. 1981
Mar. 1987

Number of theCompany’s shares
ownedJoined Sata Construction Co., Ltd.
Joined The Yasuda Trust and Banking Co., Ltd.
(currently Mizuho Trust & Banking Co., Ltd.)
Apr. 2011
Executive Officer, KOWA REAL ESTATE CO.,Akira Yamaguchi
LTD.
(December 25, 1957)
June 2016
Managing Executive Officer, Shin Nippon Steel
Kowa Real Estate (currently NIPPON STEEL
External
0
KOWA REAL ESTATE CO., LTD.)
Independent
June 2021
Representative Director, ARIKA CO., LTD. (current
Attendance at Board of Directors
position)
meetings: –July 2021
Advisor, Real Estate Division, Mizuho Trust &Banking Co., Ltd. (current position)
Significant concurrent positions outside the Company–
Reasons for nomination as candidate for External Director who is a Substitute Audit & Supervisory Committee Member andsummary of expected roles
The Company has nominated Akira Yamaguchi as a candidate for External Director who is an Audit & Supervisory Committee
Member, expecting that, based on his wealth of knowledge and expertise related to various industries, including the real estateindustry, he will strengthen the auditing function and corporate governance system of the Board of Directors and strengthen the audit
system from an independent perspective.
Notes: 1. There is no special interest between Akira Yamaguchi and the Company.
2. Akira Yamaguchi is a candidate for External Director who is a Substitute Audit & Supervisory Committee Member.
3. If Mr. Yamaguchi is appointed as an External Director who is an Audit & Supervisory Committee Member, pursuant to
the provisions of Article 427, paragraph (1) of the Companies Act, the Company plans to enter into a limited liability
agreement with him to limit his liability for damages under Article 423, paragraph (1) of the same Act. Liability pursuant
to this agreement will be restricted to the statutory minimum liability amount.
4. If Mr. Yamaguchi is appointed as an External Director who is an Audit & Supervisory Committee Member, the Company
plans to submit notification to Tokyo Stock Exchange, Inc. concerning his designation as an independent officer as
provided for by the aforementioned exchange. Mr. Yamaguchi satisfies the requirements for an independent officer as
provided for by Tokyo Stock Exchange, Inc.
5. The Company has entered into a directors’ and officers’ liability insurance policy with an insurance company as provided
for in Article 430-3, paragraph (1) of the Companies Act. The scope of the insured of the aforementioned insurance is all
officers of the Company (including Executive Officers), for whom the Company fully bears the insurance premium costs.
The insurance policy covers the costs of litigation and compensation for damages in a case where a claim for damages ismade during the insurance period as a result of the execution of duties by the insured.
However, in order for the properness of duties of the insured officers not to be impaired by the contract, the insurance
policy shall not cover any costs incurred from an act disturbing public order.
If Mr. Yamaguchi is appointed as an External Director who is an Audit & Supervisory Committee Member, he shall be
included as an insured officer in the relevant insurance policy.

- 10 -