This document has been translated from the Japanese original for reference purposes only. In the event ofany discrepancy between this translated document and the Japanese original, the original shall prevail. The
Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages
arising from the translation.

Stock Code: 4099
June 3, 2021
To Shareholders with Voting Rights:
Naoto Tanaka
Representative Director,
President and C.E.O.
SHIKOKU CHEMICALSCORPORATION
8-537-1, Doki-cho-higashi,
Marugame-shi, Kagawa Prefecture,Japan

NOTICE OF
THE 101st ANNUAL GENERAL MEETING OF SHAREHOLDERS
Dear Shareholders:
We would like to express our appreciation for your continued support and patronage.
We hereby inform you that the 101st Annual General Meeting of Shareholders of SHIKOKUCHEMICALS CORPORATION (the “Company”) will be held as described below.
In order to prevent the spread of COVID-19 infection at this General Meeting of Shareholders,
we request that shareholders exercise voting rights in writing or via the Internet in advance,
instead of attending the meeting in person. To exercise your voting rights in advance, please review
the attached Reference Documents for the General Meeting of Shareholders and exercise yourvoting rights no later than 5:00 p.m. Japan time on Wednesday, June 23, 2021.
1. Date and Time:Thursday, June 24, 2021 at 10:00 a.m. Japan time

2. Place:

SHIKOKU CHEMICALS CORPORATION Head Office
Hall, 6th floor
8-537-1, Doki-cho-higashi, Marugame-shi, Kagawa Prefecture, Japan

3. Meeting Agenda:
Matters to be reported:1. The Business Report and Consolidated Financial Statements for theCompany’s 101st Fiscal Year (April 1, 2020 - March 31, 2021) andresults of audits by the Accounting Auditor and the Board of Auditors of
the Consolidated Financial Statements
2. Non-consolidated Financial Statements for the Company’s 101st Fiscal
Year (April 1, 2020 - March 31, 2021)
Proposals to be resolved:
Election of Eleven (11) Directors
Proposal 1:
Election of One (1) Statutory Auditor
Proposal 2:
Election of One (1) Substitute Statutory Auditor
Proposal 3:When attending the meeting, please submit the enclosed Voting Rights Exercise Form at thereception desk on the day of the meeting. You are also kindly requested to bring this Notice in orderto save resources.
Of the documents to be provided with this Notice, the following are posted on the Company’s
website (https://www.shikoku.co.jp) on the Internet in accordance with provisions of laws and

-1-



regulations as well as the Company’s Articles of Incorporation, and therefore are not provided in the
Appendix.
 “Systems for Ensuring Appropriateness of Operations and Their Situation” and “Basic Policy on
Control of the Company,” which are part of the Business Report
 “Consolidated Statements of Changes in Shareholders’ Equity” and “Notes to Consolidated
Financial Statements,” which are part of the Consolidated Financial Statements
 “Non-consolidated Statements of Changes in Shareholders’ Equity” and “Notes to
Non-consolidated Financial Statements,” which are part of the Non-consolidated Financial
Statements
Therefore, the attached documents are part of the Business Report, the Consociated Financial
Statements, and the Non-consolidated Financial Statements audited by Statutory Auditors in
preparing the Audit Report and part of the Consolidated Financial Statements and theNon-consolidated Financial Statements audited by the Accounting Auditor in preparing the Audit
Report of the Accounting Auditor.
Any revisions to the Reference Documents for the General Meeting of Shareholders, the Business
Report, the Consolidated Financial Statements, or the Non-Consolidated Financial Statements will
be posted on the Company’s website (https://www.shikoku.co.jp).
Measures for Preventing the Spread of COVID-19 Infection

We request shareholders to exercise their voting rights in writing or via the Internet in advanceto prevent the spread of COVID-19.
Please note that if you come to the venue and appear to be in ill health, our staff may speak to
you and you may be requested not to enter the venue or leave the venue.
No souvenirs will be provided at this General Meeting of Shareholders.

* For details of our measures for preventing the spread of COVID-19 infection at the General
Meeting of Shareholders of the Company, please refer to the Company’s website(https://www.shikoku.co.jp/news) on the Internet. Should any major change arise concerning theoperation of the General Meeting of Shareholders depending on the situation from now on, a
notice will be posted on this website.

-2-

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

Election of Eleven (11) Directors

The terms of office of all ten (10) Directors will expire at the conclusion of this General Meeting of
Shareholders.
In order to strengthen the management structure, the election of eleven (11) Directors is proposed,
increasing the number of Directors by one (1).
The candidates for Director are as follows.

-3-

No.

Name
(Date of birth)

Career summary, positions, responsibilities,
and significant concurrent positions

April 1975
March 1996

1

Number ofshares of theCompany held
(Number ofshares to be
granted under
the stockcompensation
plan)

Joined the Company
General Manager, Inorganic Chemicals Sales
Dept., the Company
June 2002
Executive Officer; General Manager, East Nippon
Sales, Housing Materials Operations, the Company
March 2003
Executive Officer; General Manager, Planning,
Planning and Management Division, the Company
March 2005
Executive Officer; Head, Housing Materials
Operations, the Company
June 2005
Director; Executive Officer; Head, Housing
Materials Operations; Head, Makuhari Branch
Office, the Company
Naoto Tanaka
147,300
June
2006
Director; Managing Executive Officer; Head,(July 29, 1952)(6,125)
Housing Materials Operations; Head, Makuhari
Branch Office, the Company[Reappointment]
March 2009
Director; Managing Executive Officer; Head,
Housing Materials Operations, the Company
March 2013
Director; Senior Managing Executive Officer;
Head, Housing Materials Operations, the Company
June 2016
Representative Director and Senior Executive Vice
President; Head, Housing Materials Operations, theCompany
June 2018
Representative Director, President and C.E.O., theCompany (to present)[Significant concurrent positions] Chairman and Representative Director, Nippon Ryutan Kogyo Co.,Ltd.
[Reason for nomination as candidate for Director]
Mr. Naoto Tanaka served as manager and Executive Officer of the chemicals operations, the housing materials
operations, and the corporate planning division of the Company. He assumed office as Director in 2005 and as
Representative Director in 2016 and currently serves as Representative Director, President and C.E.O. He has
been responsible for administration and supervision of overall management for many years. Based on his wealthof experience and knowledge, the Company believes he is capable of appropriately executing his duties andproposes his reelection as Director.

-4-

No.

Name
(Date of birth)

Career summary, positions, responsibilities,
and significant concurrent positions

April 1976
March 2000

2

Number ofshares of theCompany held
(Number ofshares to be
granted under
the stockcompensation
plan)

Joined the Company
General Manager, Logistics & Purchasing Dept.,
Chemicals Operations, the Company
June 2001
General Manager, Operational Management &Planning Dept., Chemicals Operations, theCompany
June 2005
General Manager, Operational Management &Jun Matsubara
Planning, Chemicals Operations, the Company
34,200(January 4, 1954)
June 2007
Executive Officer; General Manager, Operational(3,058)
Management & Planning, Chemicals Operations,the Company[Reappointment]
June 2011
Statutory Auditor, the Company
June 2019
Director; Managing Executive Officer; Head,
Chemicals Sales & Marketing Division, theCompany (to present)[Significant concurrent positions] President and Representative Director, Nippon Ryutan Kogyo Co.,Ltd.
[Reason for nomination as candidate for Director]
Mr. Jun Matsubara has been mainly engaged in the chemicals operations of the Company. He assumed officeas Director in 2019 and currently serves as Director and Managing Executive Officer. He has been responsible
for administration and supervision of overall management mainly of the chemicals operations. Based on his
wealth of experience and knowledge, the Company believes he is capable of appropriately executing his duties
and proposes his reelection as Director.

-5-

No.

Name
(Date of birth)

Career summary, positions, responsibilities,
and significant concurrent positions

April 1980
March 2002

3

Number ofshares of theCompany held
(Number ofshares to be
granted under
the stockcompensation
plan)

Joined the Company
General Manager, Corporate Planning Dept., theCompany
June 2013
Executive Officer; General Manager, Corporate
Planning Dept., the Company
June 2014
Director; Executive Officer; General Manager,
Corporate Planning and Secretariat, the Company
June
2016
Director; Executive Officer; General Manager,
Mitsunori Watanabe
47,800
Corporate Planning, the Company(July 11, 1957)(3,058)March 2017
Director; Executive Officer; Deputy Head,
Planning and Management, the Company[Reappointment]
February 2018
Director; Executive Officer; Deputy Head,
Planning and Management; Head, Osaka Branch
Office, the Company
March 2019
Director; Executive Officer; Head, Corporate
Strategy Division, the Company
June 2019
Director; Managing Executive Officer; Head,
Corporate Strategy Division, the Company (topresent)[Reason for nomination as candidate for Director]
Mr. Mitsunori Watanabe has been mainly engaged in the corporate planning division of the Company. He
assumed office as Director in 2014 and currently serves as Director and Managing Executive Officer. He has
been responsible for administration and supervision of overall management mainly of the corporate planning
division. Based on his wealth of experience and knowledge, the Company believes he is capable ofappropriately executing his duties and proposes his reelection as Director.

-6-

No.

Name
(Date of birth)

Career summary, positions, responsibilities,
and significant concurrent positions

Number ofshares of theCompany held
(Number ofshares to be
granted under
the stockcompensation
plan)

April 1980
March 2002
September 2004
March 2008
June 2012
March 2015

4

Joined the Company
General Manager, Technology Dept., the Company
Deputy Manager, Tokushima Plant, the Company
Deputy Manager, Marugame Plant, the Company
Makoto Hamazaki
38,800Manager, Marugame Plant, the Company(January 27, 1958)(1,733)
Executive Officer; Manager, Marugame Plant, theCompany[Reappointment]
June 2018
Director; Executive Officer; Head, Production andTechnology; Manager, Marugame Plant, theCompany
March 2019
Director; Executive Officer; Head, Production andTechnology Division, the Company (to present)[Reason for nomination as candidate for Director]
Mr. Makoto Hamazaki has been mainly engaged in the production and technology division of the Company.
He assumed office as Director in 2018 and currently serves as Director and Executive Officer. He has been
responsible for administration and supervision of overall management mainly of the production and technology
division. Based on his wealth of experience and knowledge, the Company believes he is capable ofappropriately executing his duties and proposes his reelection as Director.
April 1988
Joined the Company
March 2005

5

General Manager, Logistics & Purchasing Dept.,
Housing Materials Operations, the Company
March 2017
Executive Officer; General Manager, Sales &Marketing, Housing Materials Operations, theYoshinori Manabe
Company(June 7, 1964)
16,300June 2018
Executive Officer; Deputy Head, Housing(1,733)
Materials Operations; General Manager, Sales &Marketing, Housing Materials Operations, the[Reappointment]
Company
March 2019
Executive Officer; Deputy Head, Business
Promotion Division, the Company
June 2019
Director; Executive Officer; Head, Business
Promotion Division, the Company (to present)[Reason for nomination as candidate for Director]
Mr. Yoshinori Manabe has been mainly engaged in the housing materials operations of the Company. He
assumed office as Director in 2019 and currently serves as Director and Executive Officer. He has been
responsible for administration and supervision of overall management mainly of the business promotion
division. Based on his wealth of experience and knowledge, the Company believes he is capable ofappropriately executing his duties and proposes his reelection as Director.

-7-

No.

Name
(Date of birth)

Career summary, positions, responsibilities,
and significant concurrent positions

August 1990

Joined the Company

June 2013
March 2017

6

Number ofshares of theCompany held
(Number ofshares to be
granted under
the stockcompensation
plan)

Leader, Exterior Products Team, the Company
General Manager, Development, Housing Materials
Operations, the Company
Hiroshi Enjo
June 2018
Executive Officer; General Manager, Development,
Housing Materials Operations, the Company(December 15, 1958)
18,700March 2019
Executive Officer; Deputy Head, Housing(1,733)
Materials Operations Division; General Manager,[Reappointment]
Development, Housing Materials Operations, theCompany
June 2019
Director; Executive Officer; Head, Housing
Materials Operations Division, the Company (topresent)[Reason for nomination as candidate for Director]
Mr. Hiroshi Enjo has been mainly engaged in the housing materials operations of the Company. He assumed
office as Director in 2019 and currently serves as Director and Executive Officer. He has been responsible foradministration and supervision of overall management mainly of the housing materials operations. Based on his
wealth of experience and knowledge, the Company believes he is capable of appropriately executing his duties
and proposes his reelection as Director.

-8-

No.

Name
(Date of birth)

Career summary, positions, responsibilities,
and significant concurrent positions

April 1986

Joined the Company

June 2002
March 2015

7

Number ofshares of theCompany held
(Number ofshares to be
granted under
the stockcompensation
plan)

Leader, Electronic Chemicals Team, the Company
Executive Officer; General Manager, Research andDevelopment of Chemical Products; Leader,Electronic Chemicals Team, the Company
June 2017
Executive Officer; General Manager, Research andDevelopment of Chemical Products; Leader,Electronic Chemicals Team; Head, R&D Center,
the Company
March 2018
Executive Officer; General Manager, Research and
Hirohiko Hirao
Development of Chemical Products; Leader,
Adhesion Promoter Materials Team; Head, R&D(October 30, 1961)
22,000Center, the Company
(930)
March
2019
Executive
Officer;
GeneralManager,
Researchand[New appointment]
Development, Research and Development ofChemical Products Division; Leader, Adhesion
Promoter Materials Team; Head, R&D Center, theCompany
March 2020
Executive Officer; General Manager, Research andDevelopment, Research and Development ofChemical Products Division; Head, R&D Center,
the Company
April 2021
Executive Officer; Head, Research andDevelopment of Chemical Products Division, theCompany (to present)[Reason for nomination as candidate for Director]
Mr. Hirohiko Hirao has been mainly engaged in the research and development division of the Company. He
has been serving as Executive Officer since 2015. Based on his wealth of experience and knowledge of theCompany’s business operations cultivated at the research and development division, the Company expects that
he is capable of being responsible for administration and supervision of overall management mainly of theresearch and development division and therefore proposes his election as Director.

-9-

No.

Name
(Date of birth)

Career summary, positions, responsibilities,
and significant concurrent positions
April 1976

8

Joined Ministry of Construction (currently Ministryof Land, Infrastructure, Transport and Tourism)
July 1998
Director General, Land Department, Kanto
Regional Construction Bureau, Ministry ofConstruction
January 2001
Director, National Land and Environment
Coordination Division, Policy Bureau, Ministry ofLand, Infrastructure, Transport and Tourism
July 2002
Director-General, Corporate Planning and General
Affairs Department, Japan Sewage Works Agency
April 2004
Director-General, Corporate Planning Department,
Shuitsu Harada
Japan Sewage Works Agency(November 10, 1953) August 2005
Chief Researcher, Land, Infrastructure, Transport
and Tourism Research Office, Research Bureau,
Secretariat of the House of Representatives[Reappointment]
July 2007
Chief Researcher, Audit and Administration
Monitoring Research Office, Research Bureau,
Secretariat of the House of Representatives
June 2011
Director and Managing Executive Officer,
Honshu-Shikoku Bridge Expressway Company
Limited
September 2013 Advisor, JAPAN DIGITAL ROAD MAP
ASSOCIATION
June 2016
Representative Director and President, JB Highway
Service Company Limited
June 2020
Director, the Company (to present)[Reason for nomination as candidate for Outside Director and overview of the expected role]

Number ofshares of theCompany held

100

Mr. Shuitsu Harada has experience and knowledge gained through his involvement in management as a director
at other companies and specialized knowledge about the construction industry gained through his service at the
Ministry of Land, Infrastructure, Transport and Tourism and other governmental organizations. The Company
proposes his reelection as Outside Director in the expectation that he will be involved in the Company’s
management decision-making from an objective standpoint by utilizing his expertise.

- 10 -

No.

Name(Date of birth)

Career summary, positions, responsibilities,
and significant concurrent positions

Number ofshares of theCompany held

April 1983
March 2005

9

Joined Nippon Life Insurance Company
General Manager, Aoyama Branch, Nippon Life
Insurance Company
March 2007
General Manager, Nihonbashi Branch, Nippon Life
Insurance Company
March 2010
General Manager, Shinjuku Branch, Nippon Life
Insurance Company
March 2012
Officer; General Manager, Sales Representatives
Training Dept.; General Manager, Business School
for Sales Managers; General Manager, Hatsuratsu
Training Promotion Office, Nippon Life Insurance
Company
March 2013
Executive Officer; General Manager, Sales
Representatives Training Dept.; General Manager,
Business School for Sales Managers; Nippon Life
Insurance Company
Norihiko Umazume
March 2014
Executive Officer; General Manager, Kinki(November 16, 1958)
Regional Headquarters; Deputy General Manager
of Head Office, Osaka Corporate Marketing Dept.,
Nippon Life Insurance Company[New appointment]
March 2017Managing Executive Officer; General Manager,
Kinki Regional Headquarters; Deputy General
Manager of Head Office, Osaka Corporate
Marketing Dept., Nippon Life Insurance Company
March 2018
Managing Executive Officer; General Manager,
Agency Marketing Headquarters; Deputy General
Manager, Financial Institution Relations
Headquarters, Nippon Life Insurance Company
March 2019
Managing Executive Officer; General Manager,
Agency Marketing Headquarters, Nippon Life
Insurance Company
March 2020
Advisor, Nissay Insurance Agency Co., Ltd.
April 2020
President, Nissay Insurance Agency Co., Ltd. (topresent)[Significant concurrent positions] President, Nissay Insurance Agency Co., Ltd.
[Reason for nomination as candidate for Outside Director and overview of the expected role]
Mr. Norihiko Umazume has experience and knowledge gained through his involvement in management as adirector at other companies. The Company proposes his election as Outside Director in the expectation that hewill be involved in the Company’s management decision-making from an objective standpoint by utilizing his
expertise.

- 11 -

0

No.

Name
(Date of birth)

Career summary, positions, responsibilities,
and significant concurrent positions

Number ofshares of theCompany held

April 1981
May 2002

10

Joined Mitsubishi Corporation
General Manager, Chemicals Division, Mitsubishi
Corporation Singapore Branch
May 2004
General Manager, Chemicals Division, Mitsubishi
International GmbH; responsible for Chemicals,
Mitsubishi Corporation International (Europe) Plc.
April 2009Manager, Functional Polymer Unit, Mitsubishi
Corporation
April 2010
General Manager, Inorganic Chemicals Dept.,
Mitsubishi Corporation
Minoru Furusawa
April 2011
President, Mitsubishi Company (Thailand) Ltd.;(March 25, 1959)
President, Thai-MC Company Limited
April 2014
Officer; Deputy General Manager, Europe and[New appointment]
Africa Region, Mitsubishi Corporation; General
Director, Mitsubishi Corporation (Russia) LLC
July 2018
Councilor; Assistant to General Manager ofOverseas Business Group, VALQUA, LTD.
January 2019
President, VALQUA AMERICA, INC.
April 2019
Executive Officer; Head of America Business,
VALQUA, LTD.; President, VALQUAAMERICA, INC.
November 2020 Executive Officer; Deputy Director of Overseas
Business Group, VALQUA, LTD.
[Reason for nomination as candidate for Outside Director and overview of the expected role]
Mr. Minoru Furusawa has experience and knowledge gained through his involvement in management as acorporate manager at other companies in addition to abundant overseas experience. The Company proposes hiselection as Outside Director in the expectation that he will be involved in the Company’s management
decision-making from an objective standpoint by utilizing his expertise.

- 12 -

0

No.

Name
(Date of birth)

Career summary, positions, responsibilities,
and significant concurrent positions

Number ofshares of theCompany held

April 1984
January 2002

11

Joined MITSUI & CO., LTD.
General Manager, Metals No. 2 Dept., MITSUI &CO. (SHANGHAI) LTD.
February 2005
General Manager, Coal No. 2 Dept., Coal andNuclear Fuel Division, MITSUI & CO. LTD.
July 2007
Vice President, Inner Mongolia Erdos ElectricPower & Metallurgy Co., Ltd.
Kiyoshi Mori
October
2011
General Manager, Ferro-Alloys Dept., MITSUI &(April 7, 1960)
CO., LTD.
April 2012
General Manager, Chinese Business Dept.,[New appointment]
MITSUI & CO., LTD.
March 2014
Director & President, MITSUI & CO.
(GUANGDONG) LTD.
April 2017
President & CEO, Mitsui Bussan Metals Co., Ltd.
(to present)[Significant concurrent positions] President & CEO, Mitsui Bussan Metals Co., Ltd.
[Reason for nomination as candidate for Outside Director and overview of the expected role]0

Mr. Kiyoshi Mori has experience and knowledge gained through his involvement in management as a director atother companies in addition to abundant overseas experience. The Company proposes his election as Outside
Director in the expectation that he will be involved in the Company’s management decision-making from an
objective standpoint by utilizing his expertise.

Notes: 1. No special interest exists between any of the candidates and the Company.
2. The number of shares of the Company held by each candidate and the number of shares to be
granted under the stock compensation plan are as of March 31, 2021. The number of shares tobe granted under the stock compensation plan corresponds to the number of points awarded
to each candidate under the trust-based stock compensation plan and is presented forreference.
3. Mr. Shuitsu Harada, Mr. Norihiko Umazume, Mr. Minoru Furusawa, and Mr. Kiyoshi Mori
are candidates for Outside Director. The Company has designated Mr. Shuitsu Harada as an
Independent Director based on the stipulations by the Tokyo Stock Exchange and has notified
his designation to the said exchange. The Company intends to designate Mr. Norihiko
Umazume, Mr. Minoru Furusawa, and Mr. Kiyoshi Mori as Independent Directors based on
the stipulations by the Tokyo Stock Exchange and notify their designations to the saidexchange.
4. Mr. Shuitsu Harada will have been in office as Outside Director for one (1) year at theconclusion of this Annual General Meeting of Shareholders.
5. The Company has entered into a liability limitation agreement with Mr. Shuitsu Harada,
which limits the amount of liability for damages pursuant to Article 423 Paragraph 1 of theCompanies Act to the minimum liability amount stipulated in Article 425 Paragraph 1 of theCompanies Act. If his reelection is approved, the Company intends to continue the said
liability limitation agreement with him. If election of Mr. Norihiko Umazume, Mr. Minoru
Furusawa, and Mr. Kiyoshi Mori is approved, the Company intends to enter into a liability
limitation agreement with each of them.
6. The Company has entered into a directors and officers liability insurance contract with aninsurance company under which the Directors are the insured. The said insurance contract- 13 -

covers damages to be borne by the insured in the event that a claim for damages is made due
to an act committed by the insured in executing his/her duties (excluding cases in which the
exemptions specified by the insurance contract apply). If election of the candidates isapproved and they assume office as Director, they will be the insured under the said
insurance contract. The Company intends to renew the said insurance contract with the samecontents at the time of the next renewal.

- 14 -

Proposal 2:

Election of One (1) Statutory Auditor

The term of office of Statutory Auditor Mr. Kazuhiko Furukawa will expire at the conclusion of this
General Meeting of Shareholders. Accordingly, the election of one (1) Statutory Auditor is proposed.
The Board of Auditors has given its prior consent to this proposal.
The candidate for Statutory Auditor is as follows.
Name(Date of birth)

Career summary, positions, and significant concurrent positions

Number ofshares of theCompany held

April 1983
March 2003

Joined the Company
General Manager, Operational Management &Marketing Administration Dept., the Company
June 2007
General Manager, Finance & Accounting Dept.,
the Company
June 2016
Executive Officer; General Manager, Finance &Accounting Dept., the Company
March 2018
Executive Officer; General Manager, Finance &Accounting Dept.; General Manager, Related
Kazuhiko Katayama
Operations Dept., the Company(September 15, 1960)
11,200June 2018
Executive Officer; General Manager, Finance &Accounting Dept., the Company[New appointment]
March 2019
Executive Officer; General Manager, Finance,
Accounting & Information Systems Dept.; Head,Osaka Branch Office, the Company
June 2019
Executive Officer; General Manager, Finance,
Accounting & Information Systems Dept.; General
Manager, Related Operations Dept.; Head, Osaka
Branch Office, the Company
April 2021
Executive Officer; General Manager, Finance &Accounting Dept., the Company (to present)[Reason for nomination as candidate for Statutory Auditor]
Mr. Kazuhiko Katayama has been mainly engaged in planning and operational management & marketing
administration divisions of the Company. He has been serving as Executive Officer since 2016. He has
considerable knowledge of finance and accounting through many years of experience in the Finance &Accounting Dept. and planning and operational management & marketing administration divisions. The
Company proposes his election as Statutory Auditor in the expectation that he will be able to utilize his
expertise in the Company’s audit system.

Notes: 1. No special interest exists between the candidate and the Company.
2. The number of shares of the Company held by the candidate is as of March 31, 2021.
3. The Company has entered into a directors and officers liability insurance contract with aninsurance company under which the Statutory Auditors are the insured. The said insurance
contract covers damages to be borne by the insured in the event that a claim for damages ismade due to an act committed by the insured in executing his/her duties (excluding cases inwhich the exemptions specified by the insurance contract apply). If election of Mr. Kazuhiko
Katayama is approved and he assumes office as Statutory Auditor, he will be the insured
under the said insurance contract. The Company intends to renew the said insurance contract
with the same contents at the time of the next renewal.

- 15 -

Proposal 3:

Election of One (1) Substitute Statutory Auditor

To prepare for any situation in which the number of Statutory Auditors falls below the number
prescribed by laws and regulations, the election of one (1) Substitute Statutory Auditor is proposed.
The Board of Auditors has given its prior consent to this proposal.
The candidate for Substitute Statutory Auditor is as follows.
Name(Date of birth)

Career summary and significant concurrent positions

Number ofshares of theCompany held

April 1968

Registered as attorney-at-law (Osaka Bar
Association)
May 1998
Partner, Kyoei Law Office (to present)
April 2001
President, Osaka Bar Association
President, Kinki Federation of Bar Associations
Takeo Mizuno
2,000
Vice President, Japan Federation of Bar(November 7, 1941)
Associations[Significant concurrent positions] Head Director, Japan Century Symphony Orchestra
 Outside Director, ODK Solutions Company, Ltd.
 Outside Director, Horitsu Bunka Sha[Reason for nomination as candidate for Substitute Outside Statutory Auditor]
Mr. Takeo Mizuno has specialized knowledge as an attorney-at-law and abundant experience of corporate legal
affairs. The Company proposes his election as Substitute Outside Statutory Auditor so that he will be able toutilize his expertise for the Company’s audit system. Although he has no experience of being directly engaged
in corporate management, the Company judges that he is capable of appropriately executing his duties as
Outside Statutory Auditor for the reasons stated above.

Notes: 1. No special interest exists between the candidate and the Company.
2. The number of shares of the Company held by the candidate is as of March 31, 2021.
3. Mr. Takeo Mizuno is a candidate for Substitute Outside Statutory Auditor. If he assumes
office as Outside Statutory Auditor, the Company intends to designate him as an Independent
Statutory Auditor based on the stipulations by the Tokyo Stock Exchange and notify his
designation to the said exchange.
4. If Mr. Takeo Mizuno assumes office as Outside Statutory Auditor, the Company intends toenter into a liability limitation agreement with him, which limits the amount of liability fordamages pursuant to Article 423 Paragraph 1 of the Companies Act to the minimum liability
amount stipulated in Article 425 Paragraph 1 of the Companies Act.
5. The Company has entered into a directors and officers liability insurance contract with aninsurance company under which the Statutory Auditors are the insured. The said insurance
contract covers damages to be borne by the insured in the event that a claim for damages ismade due to an act committed by the insured in executing his/her duties (excluding cases inwhich the exemptions specified by the insurance contract apply). If Mr. Takeo Mizuno
assumes office as Outside Statutory Auditor, he will be the insured under the said insurance
contract. The Company intends to renew the said insurance contract with the same contents atthe time of the next renewal.

- 16 -