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.

Securities Code: 6485
June 5, 2024
(Start date of measures for electronic provision: June 1, 2024)
To our shareholders:Yuichi Taniai, President and Representative Director
MAEZAWA KYUSO INDUSTRIES CO., LTD.
2-14-4 Takaban, Meguro-ku, Tokyo

Notice of the 68th Ordinary General Meeting of Shareholders
We would like to inform you that the 68th Ordinary General Meeting of Shareholders of MAEZAWA KYUSO
INDUSTRIES CO., LTD. (the “Company”) will be held as described below.
In convening this General Meeting of Shareholders, the Company has taken measures for providing information that
constitutes the content of reference documents for the general meeting of shareholders, etc. (matters for whichmeasures for providing information in electronic format are to be taken) in electronic format, and has posted theinformation on each of the following websites. Please access either of the websites to view the information.
The Company’s website:
https://www.qso.co.jp/ir/soukai.html (in Japanese)
Tokyo Stock Exchange website:
https://www2.jpx.co.jp/tseHpFront/JJK010010Action.do?Show=Show (in Japanese)(Access the TSE website by using the internet address shown above, enter “MAEZAWA KYUSO INDUSTRIES” in“Issue name (company name)” or the Company’s securities code “6485” in “Code,” and click “Search.” Then, click“Basic information” and select “Documents for public inspection/PR information.” Under “Filed information
available for public inspection,” click “Click here for access” under “[Notice of General Shareholders Meeting/Informational Materials for a General Shareholders Meeting].”)If you are unable to attend the meeting, you can exercise your voting rights either via the Internet or by mail. Please
review the Reference Documents for the General Meeting of Shareholders and exercise your voting rights by no later
than 5:30 p.m. on Tuesday, June 25, 2024 using the method described in Information About Exercising Your Voting
Rights (in Japanese only).
1. Date and Time: Wednesday, June 26, 2024 at 10:00 a.m. (JST)
2. Venue:
HOTEL GAJOEN TOKYO, 2nd Floor, Hanashizuka
1-8-1 Shimomeguro, Meguro-ku, Tokyo
3. Purpose of the Meeting
Matters to be reported:
1. The Business Report and the Consolidated Financial Statements for the 68th fiscal year (April 1, 2023 toMarch 31, 2024), as well as results of the Audits of the Consolidated Financial Statements by the Financial
Auditor and the Audit & Supervisory Board
2. The Non-consolidated Financial Statements for the 68th fiscal year (April 1, 2023 to March 31, 2024)
Matters to be resolved:
Proposal No. 1
Appropriation of Surplus
Proposal No. 2
Election of Six Directors
4. Decisions regarding the convocation(1) If voting rights are exercised in writing (by mail) and no indication has been given either to approve ordisapprove any of the proposals on the voting right exercise form, each will be considered as an indication of
approval.

-1-(2) If you have exercised your voting rights both via the Internet and in writing, only the vote cast via the Internet
will be deemed effective.
(3) If you have exercised your voting rights more than once via the Internet, only the final exercise of the voting
rights shall be deemed effective.

- If attending the general meeting of shareholders in person, please present the voting form sent out with this notice at the reception
desk. For the purpose of saving resources, please be sure to bring this notice with you.
- Among the matters subject to measures for electronic provision, in accordance with the provisions of laws and regulations and the
Articles of Incorporation of the Company, the following matters are not provided in the paper-based documents delivered toshareholders who have made a request for delivery of such documents. The Audit & Supervisory Board Members and the Corporate
Auditor have audited the documents subject to audit, including the following matters.
(i) “System to ensure appropriate business operations and summary of the operating status of the relevant system” and “Basic policy
on Company control” in the Business Report section(ii) “Consolidated statement of changes in net assets” and “Notes to consolidated financial statements” in the Consolidated Financial
Statements section(iii) “Balance sheet,” “Statement of profit and loss,” “Statement of changes in net assets” and “Notes to non-consolidated financial
statements” in the Non-consolidated Financial Statements section- If revisions to the matters subject to measures for electronic provision arise, a notice of the revisions and the details of the matters
before and after the revisions will be posted on the websites mentioned above.
- Please note that we will not be preparing any gifts for shareholders who attend the meeting.
- We plan to record the meeting on video and post this on the Company’s website mentioned above as soon as possible after the
meeting.
- Other information for shareholders will be announced on the Company’s website mentioned above. Please check for all the latest
information.

-2-

Reference Documents for the General Meeting of Shareholders
Proposal No. 1

Appropriation of Surplus

The Company strives to achieve both the return of profits to shareholders and contribute to various stakeholders
through business growth and improved performance. More specifically, the Company’s basic policy is to return
profits by taking into consideration the financial situation each fiscal year and future business development toconsider investments to promote business growth and protect the global environment.
In line with the aforementioned policy, the Company proposes to proceed with the payment of a year-end dividend
for the fiscal year ended March 31, 2024 as follows:(1) Type of dividend property
To be paid in cash.
(2) Allotment of dividend property and their aggregate amount¥22 per common share of the Company¥466,580,268
Accordingly, including the interim dividend of ¥18 per share, the annual dividend will be ¥40 per share.
(3) Effective date of dividends of surplus
June 27, 2024

-3-

Proposal No. 2

Election of Six Directors

The terms of office of all six Directors will expire at the conclusion of this meeting. Therefore, the Company proposes
the election of six Directors.
The candidates for Director are as follows:
Candidate
No.

Name

GenderCurrent position andresponsibilities in the
Company

Candidate
Attributes

Attendance at Board of
Directors meetings

1

Yuichi Taniai

MalePresident and Representative
DirectorReelection

14/14(100% attendance)

2

Hiroshi Sugimoto

Male

Managing Director, Chief ofSales Headquarters

Reelection

14/14(100% attendance)

3

Yoichiro Taniguchi

Male

Director, Chief of
Administration Headquarters

Reelection

14/14(100% attendance)

4

Eiichi Aoki

Male

Director, Chief of Production
Headquarters

Reelection

11/11(100% attendance)

5

Yasuo Iijima

Male

Outside Director

Reelection
OutsideIndependent

14/14(100% attendance)

6

Misugi Kumazaki

FemaleOutside Director

Reelection
OutsideIndependent

14/14(100% attendance)

Reelection: Candidate for reappointed Director
New election: Candidate for newly appointed Director
Outside: Candidate for outside Director
Independent: An independent officer pursuant to stock exchange regulations, etc.

-4-Candidate
No.

Name
(Date of birth)
Reference information

Career summary, position and responsibilities in the Company
Mar. 1987
Feb. 1996
Jun. 2006
Jun. 2010

1[Reelection]
Yuichi Taniai(August 23, 1958)
Gender: Male
Term in office: 14 years
Attendance at Board of
Directors meetings:
14/14(100% attendance)

Jul. 2014

Apr. 2015

Jun. 2015

Jun. 2016

Jun. 2021

Joined the Company
General Manager of Hiroshima Sales Office
Executive Officer, General Manager of Tokyo
Sales Office, Sales Headquarters
Director, Executive Officer, Deputy Chief ofSales Headquarters (based in Tokyo), andGeneral Manager of Tokyo Sales OfficeDirector, Executive Officer, General Manager
of East Japan Sales Department, General
Manager of Tokyo Metropolitan Area Branch,and General Manager of Sales Support
Department
Director in charge of 1st and 3rd Sales
Divisions, General Manager of Tokyo
Metropolitan Area Branch, and General
Manager of Sales Support Department
Director in charge of 1st and 3rd Sales
Divisions and General Manager of Sales
Support Department
Director in charge of Sales Division andGeneral Manager of the Water Supply
Equipment Department
President and Representative Director (current
position)

Number ofCompany shares
owned

40,332 shares[Reasons for nomination as candidate for Director]
After serving as a manager at some of the Company’s key operations bases, Yuichi Taniai held important positions in
the Sales Division, including Director and Deputy Chief of the Sales Headquarters starting in 2010 and Director in
charge of the Sales Division and General Manager of the Water Supply Equipment Department starting in 2016. Sinceassuming the office of President and Representative Director in June 2021, he has assumed the great responsibility ofleading the Company’s management. The Board of Directors believes that his wealth of experience and track record
positions him as key personnel needed for the Company to achieve sustained growth and improve corporate value. He
has therefore been nominated as a candidate for Director.

-5-Candidate
No.

Name
(Date of birth)
Reference information

Career summary, position and responsibilities in the Company
Apr. 1989
Apr. 2003
Oct. 2010

2[Reelection]
Hiroshi Sugimoto(June 15, 1964)
Gender: Male
Term in office: 5 years
Attendance at Board of
Directors meetings:
14/14(100% attendance)

Jul. 2014

Oct. 2015
Apr. 2017
Jun. 2019

Oct. 2021
Jun. 2023

3

Joined the Company
General Manager of Hiroshima Sales Office
Executive Officer, General Manager of
Chugoku and Shikoku Block, Sales
Headquarters
Executive Officer, General Manager of Kansai /Chugoku and Shikoku Branch, West Japan
Sales Department
General Manager of Business Administration
Department, Business Administration Division
General Manager of Business Planning
Department
Director in charge of Sales Division andGeneral Manager of Housing Equipment
Business Department
Director, Chief of Sales Headquarters
Managing Director, Chief of Sales
Headquarters (current position)

Number ofCompany shares
owned

20,632 shares[Reasons for nomination as candidate for Director]
Hiroshi Sugimoto has held important positions at the Company, mainly in the Sales Division. He served as General
Manager of the Business Administration Department from 2015, as Director in charge of the Sales Division and General
Manager of the Housing Equipment Business Department from 2019, as Director and Chief of the Sales Headquartersfrom October 2021, and has led the Company’s Sales Division as Managing Director and Chief of Sales Headquarters
since June 2023. The Board of Directors believes that his wealth of experience and track record positions him as key
personnel needed for the Company to achieve sustained growth and improve corporate value. He has therefore been
nominated as a candidate for Director.
Apr. 1986
Joined The Kyowa Bank, Ltd. (currently
Resona Bank, Limited)
Apr. 2013
General Manager (Branch Manager) of Kudan
Branch, Resona Bank, Limited
Apr.
2016
JoinedAsunaro Aoki Construction Co., Ltd.
[Reelection]
GeneralManager of 2nd Sales Department,
Yoichiro Taniguchi
Tokyo
Architectural
Branch(August 5, 1962)
Sep. 2016
Joined the Company
Gender: Male
18,332 shares
Term in office: 5 years
Dec. 2016
General Manager of Accounting Department
Attendance at Board ofJun. 2019
Director in charge of Management Division,
Directors meetings:
General Manager of Management Department,
14/14
and General Manager of Accounting(100% attendance)
Department
Jun. 2020
Director in charge of Management Division,
General Manager of Management Department
Oct. 2021
Director, Chief of Administration Headquarters(current position)[Reasons for nomination as candidate for Director]
Yoichiro Taniguchi uses the knowledge and management experience gained by working at financial institutions andelsewhere to manage the accounting and financial operations of the Company as the General Manager of the
Accounting Department. He has led the Administrative Division as Director in charge of the Management Division and
the General Manager of the Management Department starting in 2019 and as Director and Chief of Administration
Headquarters since October 2021. The Board of Directors believes that his wealth of experience and track record
positions him as key personnel needed for the Company to achieve sustained growth and improve corporate value. He
has therefore been nominated as a candidate for Director.

-6-

Candidate
No.

Name
(Date of birth)
Reference information

Career summary, position and responsibilities in the Company
Feb. 1990
Oct. 2010
Feb. 2019
Dec. 2019

4

5

Number ofCompany shares
ownedJoined the Company
GeneralManager of Osaka Sales Office[Reelection]
General Manager of the Kansai/Chubu Area
Eiichi Aoki
General Manager of Production Planning(September 12, 1966)
Department
Gender: Male
17,795 shares
Term in office: 1 year
Oct. 2021
Executive Officer, General Manager ofAttendance at Board of
Fukushima Plant
Directors meetings:
Jun. 2023
Director, Chief of Production Headquarters
11/11(current position)(100% attendance)(Significant concurrent positions outside the Company)
Chairman, Maezawa Kyuso (Nanchang) Co., Ltd.
[Reasons for nomination as candidate for Director]
Eiichi Aoki has held important positions in the Sales and Production Divisions, including serving as a manager at someof the Company’s key operations bases. From 2021 he was General Manager of the Fukushima Plant, and since June
2023 he has been in charge of the Company’s Production Division as Director and Chief of Production Headquarters.
The Board of Directors believes that his wealth of experience and track record positions him as a person who can be
expected to contribute to achieving sustained growth and improved corporate value for the Company. He has therefore
been nominated as a candidate for Director.
Apr. 2000
Registered as an attorney at law
Apr. 2000
Lawyer at Kioicho Law Office (current
position)[Reelection]
Apr.
2015
Vice
Chair of Daini Tokyo Bar Association[Outside]Jun.
2015
Outsideauditor (part-time) of Palsystem[Independent]
Consumers’
Co-operative Union
Yasuo Iijima(June 11, 1968)
Jun. 2020
Outside Director of the Company (current– shares
Gender: Maleposition)
Term in office: 4 years
Jun. 2023
Outside auditor (part-time) of Palsystem
Attendance at Board of
Insurance Consumers’ Co-operative Federation
Directors meetings:(current position)
14/14(Significant concurrent positions outside the Company)(100% attendance)
Lawyer at Kioicho Law OfficeOutside auditor (part-time) of Palsystem Insurance Consumers’
Co-operative Federation[Reasons for nomination as candidate for outside Director and outline of expected duties]
Yasuo Iijima has experience of serving as an outside auditor of a Consumers’ Co-operative Union and the like, in
addition to his knowledge of legal affairs as a lawyer. The Board of Directors expects that he will draw on thisexperience and track record to provide professional and objective advice to continue to improve the corporate value of
the Company over the medium to long term and strengthen the supervisory function of the Board of Directors. He has
therefore been selected as a candidate for outside Director. If he is appointed, as a member of the Remuneration
Advisory Committee and the Nominating Committee, he is expected to provide advice from an objective and neutral
standpoint to the Board of Directors. He has never in the past been directly involved in the management of a company.
However, the Company judges that he will appropriately fulfill his duties as an outside Director based on the above
reasons.

-7-

Candidate
No.

Name
(Date of birth)
Reference information

Career summary, position and responsibilities in the Company
Apr. 1978

6

Notes:

1.
2.

3.

4.

5.

Number ofCompany shares
ownedJoined the Kanto-Shinetsu Regional Taxation
BureauJul. 2016
District Director of Honjo Tax Office
Jul. 2019
District Director of Kawagoe Tax Office(retired in July 2020)
Aug. 2020
Registered as a certified public tax accountant
Aug. 2020
Certified public tax accountant of Misugi
Kumazaki Tax Accountant Office (current[Reelection]
position)[Outside]
Apr. 2021
Deputy Chief of Office of Rulings and Legal[Independent]
Affairs, Kanto-Shinetsu Certified Public Tax
Misugi Kumazaki
Accountants’ Association (current position)(July 27, 1959)
Jun. 2021
Auditor of Social Welfare Corporation
300 shares
Gender: Female
SHOTOKUKAI (current position)
Term in office: 2 years
Jun. 2022
Outside Director of the Company (current
Attendance at Board of
position)
Directors meetings:
Aug. 2022
Outside Audit & Supervisory Board Member of
14/14
SIGMAKOKI CO.,LTD. (current position)(100% attendance)(Significant concurrent positions outside the Company)
Certified public tax accountant of Misugi Kumazaki Tax
Accountant Office
Deputy Chief of Office of Rulings and Legal Affairs, KantoShinetsu Certified Public Tax Accountants’ Association
Auditor of Social Welfare Corporation SHOTOKUKAI
Outside Audit & Supervisory Board Member of SIGMAKOKICO.,LTD.
[Reasons for nomination as candidate for outside Director and outline of expected duties]
Misugi Kumazaki has held important positions with the National Tax Agency—namely, tax office district director—andhas expertise in management capacity and tax affairs cultivated in those positions. Since retiring from the agency, she
has gained experience serving as a certified public tax accountant, an auditor of a social welfare corporation, and thelike. The Board of Directors expects that she will draw on this track record and experience to provide professional andobjective advice to continue to improve the corporate value of the Company over the medium to long term andstrengthen the supervisory function of the Board of Directors. She has therefore been selected as a candidate for outside
Director. If she is appointed, as a member of the Remuneration Advisory Committee and the Nominating Committee,
she is expected to provide advice from an objective and neutral standpoint to the Board of Directors. She has never inthe past been directly involved in the management of a company. However, the Company judges that she willappropriately fulfill her duties as an outside Director based on the above reasons.
There is no special interest between any of the candidates and the Company.
The term of office for each candidate for reelection is the period from when the Director took office through to theconclusion of the General Meeting of Shareholders. Attendance at Board of Directors meetings is the number of meetings
the Director attended while in office during the current fiscal year.
The Company has entered into an agreement with Yasuo Iijima and Misugi Kumazaki to limit liability for damages under
Article 423, paragraph (1) of the Companies Act, based on the provisions in Article 427, paragraph (1) of said Act and the
Articles of Incorporation. The maximum amount of liability for damages under this agreement is the amount provided forunder laws and regulations. The Company plans to renew this agreement if their reelections are approved.
The Company has submitted notification to the Tokyo Stock Exchange, Inc. that Yasuo Iijima and Misugi Kumazaki havebeen designated as independent officers as provided for by the aforementioned exchange. If the reelections of Yasuo Iijima
and Misugi Kumazaki are approved, the Company plans for their designations as independent officers to continue.
The Company has entered into a directors and officers liability insurance agreement with an insurance company, which
will cover the cost of damages such as compensation payments and dispute costs incurred by the insured parties. If theelection of the candidates is approved, they will be included in the insured persons of the insurance agreement. The
Company also plans to update the insurance agreement with the same details next time it is renewed.

-8-

(Reference)In the event Proposal No. 2 is approved and adopted in its original form, the key skills and planned committee
appointments of each Director and Audit & Supervisory Board Member after conclusion of this meeting are as
follows.
Key skills and planned committee appointments of each Director and Audit & Supervisory Board Member
Name

Director

Yuichi Taniai
Director

Hiroshi Sugimoto
Director

Yoichiro Taniguchi
Director

Eiichi Aoki

Management
DevelopFinance
Human
Legal affairs Remuneration
Sales andNominating
and businessment and
andresources
andAdvisorymarketingCommittee
strategy
production accounting development compliance Committee

○

○

○

○

○

○
○

○
○

○

Outside Director

Yasuo Iijima
Outside Director○

Misugi Kumazaki
Audit & Supervisory
Board Member

Jun Kurotani

○

○

○

Outside Audit &Supervisory Board
Member

○

○

○

○

○

○

○

○

○

○

○

○

○

○

○

○

○

○

○

○

○

Hiroki Ito
Outside Audit &Supervisory Board
Member○○○Hidenori SakuraiEnd-9-