Note: This document is a translation of the original Japanese document and is only forreference purposes. In the any discrepancy between this translated document and theoriginal Japanese document, the later shall prevail.

Status of Dialogue with Shareholders(From 1 June 2023 to 31 May 2024)
SANYO SHOKAI LTD.
30 July 2024

Status of Dialogue with Shareholders
105 annual IR/SR dialogue with Representative Director, President & CEO as amain speaker. Discussed progress of the Medium-term Business Plan (“MBP”),
future growth strategy, capital strategy, and initiatives for sustainability.
Outline ofShareholders/Institutional Investors

Status of Dialogue
Total number of IR/SR dialogue1 105
Continuously strengthen IR & SR measures weresuccessful, and the number of interviews increased
significantly to 175% yoy.

Speakers
IR/SRmeeting

Representative Director, President & CEO
Senior Executive Managing Officer
GM of Corporate Management HQ(Chair of Sustainability Committee)
General Manager of IR & PR Strategy

Financialresultsmeeting

Representative Director, President & CEO
Director, EVP & GM of Operation HQGeneral
meeting ofshareholders

All Directors andAudit & Supervisory Board Members

1. Includes financial results meeting and GMS
Copyright ©SANYO SHOKAI LTD. All Rights Reserved.

Avtive &Passive

Overseas
35%

Domestic/
Overseas65%

21%
Styles279%

Domestic

ActiveMajor Topics and Interests of Shareholders• Structure reform outcomes• Progress of the MBP• Direction of future growth strategy and sustainability ofcurrent strong performance• Capital strategies• Progress of sustainability initiatives

2. Excludes securities and industrial corp.

1Status of Dialogue with Shareholders
Timely feedbacks to the Board. We have demonstrated results in its futuregrowth strategy, strengthening shareholder returns, enhancing disclosure, andresponse to sustainability matters.
Feedbacks to Board of Directors
Freq. Method
Comments
fromsharehold Twiceers/Insti- a year
tutional
investors

IRreports

Report toBoard ofDirectors/
explanatory
meeting

Report/email
to Board ofTimely Directors/
explanatory
meeting

Copyright ©SANYO SHOKAI LTD. All Rights Reserved.

Contents
Summary of
dialogue withshareholders after
Q2/Q4
announcements offinancial results, aswell as input for
improvement
IR strategies,
priority measures,issues andcountermeasures,
share price/index,etc.

Outcome of Dialogue
Input

StatusRequests for an explanation of
the progress of the current MBP
and disclosure of specificdetails of future growthstrategies.

Through the dialogue, we
promoted shareholders'
understanding of the progress ofthe current MBP. Currently
formulating the next MBP
including these specific details.

Request to disclose details on
strengthening shareholder
returns and uses of cash.

PBR Improvement Plan wasdisclosed in October 2023. Inorder to improve capitalefficiency, we explained that it isconsidering further strengthening
shareholder returns in line withperformance progress.

Needs for easy-to-understanddisclosure of sustainabilityrelated matters and forenhanced disclosure ofbusiness results, etc.

In March 2024, the corporatewebsite was renewed. The
renovation project has been
drastically renovated from thestructure, taking these inputs
into account.

Request for initiatives that linksustainability management tosustainable growth by viewing
sustainability as a newopportunity rather than merelyrisk management.

Launched reuse business in
2024, collected clothing inMarch and sold reusable items
in June of the same year.

2Disclaimer
This material was prepared to provide information related to the finances, business, etc., of SANYO SHOKAI LTD. and its affiliated companies;
it is not a full declaration or guarantee and was not prepared to solicit investments. Decisions regarding investing in the Company should bebased on one's own judgment, not on information provided in this material.
In addition to historical results, information in this material includes the Company’s outlook for the future, and the outlook may change on
account of various social and economic developments. The Company bears no responsibility for losses incurred on account of the use ofinformation provided in this material.
The Company is not obligated to revise the outlook included in this material in accordance with new information and future developments, orto publish any revisions.
This material does not include all information the Company discloses to entities such as securities exchanges and may use expressions
different than those used in disclosure material. Information in this material might be deleted or changed without notification.
Although the Company has carefully prepared this material, it bears no responsibility for incorrect information, problems due to informationthat is altered or downloaded by third parties, etc., regardless of the reason.