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: 9902
June 2, 2023
To our shareholders:Toshikazu Fuke, Representative Director and President
Executive Officer
NICHIDEN Corporation
1-2-16 Uehommachinishi, Chuo-ku, Osaka

Notice of the 72nd Annual General Shareholders Meeting
We are pleased to announce the 72nd Annual General Shareholders Meeting of NICHIDEN Corporation (the“Company”), which will be held as indicated 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 the websites to view the information.
The Company’s website: https://www.nichiden.com/ (in Japanese)(From the above website, select “IR information,” and then “General Shareholders’ Meeting Materials.”)
In addition to the Company’s website, the Electronic Provision Measures Matters are also posted on TSE website
below.
TSE website (Listed Company Search):https://www2.jpx.co.jp/tseHpFront/JJK010010Action.do?Show=Show (in Japanese)(Access the TSE website by using the internet address shown above, enter “NICHIDEN” in “Issue name (companyname)” or the Company’s securities code “9902” in “Code,” and click “Search.” Then, click “Basic information”
and select “Documents for public inspection/PR information.” Under “Filed information available for publicinspection,” 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 in person, you may exercise your voting rights via the Internet, etc. orin writing (postal mail). Please review the Reference Documents for the General Meeting of Shareholders, andexercise your voting rights by 5:30 p.m. on June 22 (Thursday), 2023 (JST).
[Exercise of voting rights via the Internet, etc.]
Please access the dedicated website for exercising voting rights (https://soukai.mizuho-tb.co.jp/) (in Japanese), use
the “voting code” and “password” displayed on the voting form sent to you along with this notice to enter your voteof approval or disapproval for each proposal before the aforementioned deadline by following the instructions on thescreen.
[Exercise of voting rights in writing (postal mail)]
Please indicate your approval or disapproval of the proposals on the voting form and return it to the Company bymail so that it arrives before the aforementioned deadline.

-1-1. Date and Time: Friday, June 23, 2023, at 10:00 a.m. (JST)(Reception will begin at 9:00 a.m.)
2. Venue:
5th Floor Conference Room at NICHIDEN Corporation
1-2-16 Uehommachinishi, Chuo-ku, Osaka
3. Purpose of the Meeting:
Matters to be reported:
1. The Business Report and Consolidated Financial Statements for the 72nd fiscal year (from April 1, 2022 toMarch 31, 2023), and the results of audits of the Consolidated Financial Statements by the Accounting
Auditor and the Audit and Supervisory Committee
2. The Non-consolidated Financial Statements for the 72nd fiscal year (from April 1, 2022 to March 31, 2023)
Matters to be resolved:
Proposal No. 1:
Appropriation of Surplus
Proposal No. 2:
Election of Five Directors (Excluding Directors Who Are Audit and Supervisory
Committee Members)
Proposal No. 3:
Election of One Director Who Is an Audit and Supervisory Committee Member
Proposal No. 4:
Payment of Special Service Reward to a Retiring Director
4. Matters to Be Determined When Convening(1) If neither approval nor disapproval of proposal is indicated when you exercise voting rights in writing (postalmail), the Company will deem that you indicated your approval of the proposal.
(2) Please note that your online vote will prevail should you exercise your voting rights both in writing (by post)
and via the Internet, etc.
(3) If you exercise your voting rights via the Internet, etc. multiple times, the vote exercised last will be recorded
as the effective vote.
- For this General Meeting of Shareholders, paper-based documents stating items subject to measures for electronic provision will bedelivered to all shareholders regardless of whether they have made a request for delivery of such documents.
- If revisions to the items subject to measures for electronic provision arise, a notice of the revisions and the details of the items before
and after the revisions will be posted on the Company’s aforementioned website and the TSE website.

-2-Reference Documents for the General Shareholders Meeting
Proposals and Reference Information
Proposal No. 1:Appropriation of Surplus

The Company’s basic policy is to make efforts to ensure a stable business foundation for the long term and continue
to return profits to shareholders in the form of dividends. The Company also intends to secure internal reserves tostrengthen its corporate structure and prepare to expand its businesses in the future. In order to further clarify theCompany’s basic dividend policy, on March 4, 2019 the Board of Directors resolved to set the minimum consolidated
dividend payout ratio to 30% and the minimum dividend to ¥15 per share.
In order to reciprocate the support and expectations of its shareholders, after giving comprehensive consideration tofactors including the Company’s financial circumstances and performance over the full year based on its basic policy,
the year-end dividend for the 72nd fiscal year is proposed as follows:
1. Year-end dividends(1) Type of dividend property
To be paid in cash.
(2) Allotment of dividend property to shareholders and their aggregate amountThe Company proposes to pay a dividend of ¥65 per common share of the Company.
In this event, the total dividends will be ¥2,041,224,770.
(3) Effective date of dividends of surplus
The effective date of dividends shall be June 26, 2023.
2. Appropriation of surplus
Not applicable.

-3-

Proposal No. 2:

Election of Five Directors (Excluding Directors Who Are Audit and Supervisory CommitteeMembers)

At the conclusion of this meeting, the terms of office of all six Directors (excluding Directors who are Audit andSupervisory Committee members; applicable to the rest of this proposal) will expire. Therefore, the Company
proposes the election of five Directors. The candidates for Director in this proposal were finalized by the Board ofDirectors after deliberation by the Nomination and Remuneration Committee. In addition, the Audit and Supervisory
Committee considered the candidates and issued a statement deeming them suitable for the position of Director.
The candidates for Director are as follows:
CandidateNo.

Name(Date of birth)

Career summary, position and responsibility in the Company,and significant concurrent positions outside the CompanyMar. 1986
Apr. 2007
Apr. 2008
June 2008

Toshikazu Fuke
(September 7, 1963)1

Apr. 2009
June 2010
Apr. 2011
June 2011
Apr. 2015
Apr. 2017
Apr. 2021

Joined the Company
Managing Administrator, General Manager ofSales Promotion Department
Executive Officer, General Manager of Sales
Promotion Department
Director, Acting General Manager of Sales
Department, General Manager of Sales
Promotion Department
General Manager of Sales Department
Managing Director
Head of Sales
Representative Director and President
Representative Director and President, General
Manager of Sales Department
Representative Director and President
Representative Director and President
Executive Officer (current position)

Number of theCompany’s shares
owned

86,700[Reasons for nomination as candidate for Director]
Mr. Fuke has extensive experience and expert knowledge of the Company’s business activities from his service as
Representative Director and President Executive Officer and manager of sales departments. Additionally, given his
involvement in the Company’s management and appropriate execution of his duties as a Director for 15 years sinceJune 2008, the Company judges that he is qualified to serve as a Director of the Company. Accordingly, the Company
has again nominated him as a candidate for Director.

-4-Candidate
No.

Name(Date of birth)

Career summary, position and responsibility in the Company,
and significant concurrent positions outside the Company
Mar. 1976
Apr. 2007
Apr. 2008
Apr. 2009

Kenichi Okamoto(March 31, 1958)
2June 2010
Apr. 2011
Apr. 2015
Apr. 2016
Apr. 2018
Apr. 2019
Apr. 2021

3

Joined the Company
Managing Administrator, General Manager ofTokyo Branch
Executive Officer, General Manager of Tokyo
BranchExecutive Officer, General Manager of EastBlock
Director
General Manager of Central BlockManaging Director
General Manager of East Block
General Manager of East Block, in charge ofEast ME System DepartmentSenior Managing Director
Representative Director and Senior Managing
Executive Officer, Head of Sales, General
Manager of East Block, and in charge ofCentral Block (current position)

Number of theCompany’s shares
owned

22,100[Reasons for nomination as candidate for Director]
Mr. Okamoto has extensive experience and expert knowledge of the Company’s business activities from his service as
block manager of sales departments. Additionally, given his involvement in the Company’s management andappropriate execution of his duties as a Director for 13 years since June 2010, the Company judges that he is qualifiedto serve as a Director of the Company. Accordingly, the Company has again nominated him as a candidate for Director.
Mar. 1985
Joined the Company
Apr. 2006
General Manager of Nagoya Branch
Apr. 2009
Executive Officer, General Manager of Central
BlockJune 2010
Director
Apr. 2011
General Manager of Sales Department, General
Manager of Sales Promotion Department
Atsushi Sangawa
57,100(January 28, 1963)
Apr. 2015
General Manager of West Block
Apr. 2019
Managing Director
Apr. 2021
Director and Managing Executive Officer,
General Manager of Administration Department(current position)(Significant concurrent positions outside the Company)
Director, Okazaki Machinery Co., Ltd.
[Reasons for nomination as candidate for Director]
Mr. Sangawa has extensive experience and expert knowledge of the Company’s business activities from his service as
block manager of sales departments. Additionally, given his involvement in the Company’s management andappropriate execution of his duties as a Director for 13 years since June 2010, the Company judges that he is qualified
to serve as a Director of the Company. Accordingly, the Company has again nominated him as a candidate for Director.

-5-CandidateNo.

Name(Date of birth)

Career summary, position and responsibility in the Company,and significant concurrent positions outside the Company
Apr. 1982
Apr. 2009
Apr. 2015

Hajime Sasaki(January 7, 1960)
45

Notes:Apr. 2017

June 2017
Apr. 2019
Apr. 2021

Joined the Company
Executive Officer, Head of Kyushu Region, andGeneral Manager of Kyushu Branch
Executive Officer, Deputy General Manager ofSales Department, and General Manager ofSales Promotion Department
Executive Officer, General Manager of Sales
Department, and General Manager of Sales
Promotion Department
Director
General Manager of Sales Department
Director, Senior Executive Officer, General
Manager of West Block (current position)

Number of theCompany’s shares
owned

6,200

[Reasons for nomination as candidate for Director]
Mr. Sasaki has extensive experience and expert knowledge of the Company’s business activities from his service as
general manager in charge of regions and sales promotion in sales departments. Additionally, given his involvement in
the Company’s management and appropriate execution of his duties as a Director for six years since June 2017, theCompany judges that he is qualified to serve as a Director of the Company. Accordingly, the Company has again
nominated him as a candidate for Director.
Apr. 1982
Joined the CompanyApr. 2005
General Manager of FA Control Department
Apr. 2006
General Manager of East ME System
Department
Apr. 2008
Executive Officer, General Manager of East
ME System Department
Apr. 2011
Executive Officer, General Manager of East
BlockApr. 2013
Executive Officer, General Manager of East
Block, and General Manager of Tokyo Branch
Apr. 2014
Executive Officer, in charge of East Block andGreater Tokyo, and General Manager of Tokyo
Jyunji Morita
15,400Branch(March 16, 1960)
Apr. 2016
Executive Officer, General Manager of West
ME System Department
Apr. 2018
Executive Officer, General Manager of West
ME System Department, and in charge of WestEngineering Department
June 2018
DirectorApr. 2019
General Manager of West ME System
Department, in charge of Engineering
Department
Apr. 2021
Director, Senior Executive Officer, General
Manager of Business Promotion Department(current position)[Reasons for nomination as candidate for Director]
Mr. Morita has extensive experience and expert knowledge of the Company’s business activities from his service as
block manager of sales departments and manager of ME System Departments. Additionally, given his involvement inthe Company’s management and appropriate execution of his duties as a Director for five years since June 2018, theCompany judges that he is qualified to serve as a Director of the Company. Accordingly, the Company has again
nominated him as a candidate for Director.
1. There is no special interest between any of the candidates for Director and the Company.
2. The Company plans to enter into a directors and officers liability insurance policy as provided for in Article 430-3,
paragraph (1) of the Companies Act with an insurance company, with all Directors as the insured. The policy will coverlosses that may arise from the insured’s assumption of liability incurred in the course of the performance of duties, orreceipt of claims pertaining to the pursuit of such liability. In addition, each candidate is included as an insured in thepolicy, and the Company plans to renew the policy with the same terms when the policy is renewed.

-6-

Proposal No. 3:

Election of One Director Who Is an Audit and Supervisory Committee Member

At the conclusion of this meeting, the term of office of Director Yasuo Higaki who is an Audit and Supervisory
Committee Member (“Audit and Supervisory Committee member”; applicable to the rest of this proposal) will expire.
Therefore, the Company proposes the election of an Audit and Supervisory Committee member.
In addition, prior consent of the Audit and Supervisory Committee has been obtained for this proposal.
The candidate for Audit and Supervisory Committee member is as follows:
Name(Date of birth)

Career summary, position and responsibility in the Company, and significant
concurrent positions outside the Company
Apr. 1980

Number of theCompany’s shares
ownedJoined Fuji Electric Manufacturing Co., Ltd. (currently Fuji
Electric Co., Ltd.)
Feb. 1986
Joined the Company
Apr. 2002
General Manager of Corporate Planning Department
Apr. 2008
Executive Officer, General Manager of Corporate Planning
Department
Apr. 2011Executive Officer, General Manager of Human Resources
Department, and in charge of Corporate PlanningYasuo Higaki
40,900(January 24, 1957)
Apr. 2013
Executive Officer, General Manager of Administration
Department, and General Manager of General Affairs
Department
June 2013
Director
Apr. 2018
General Manager of Administration Department
Apr. 2021
In charge of Administration Department
June 2021
Director, Audit and Supervisory Committee member(current position)[Reasons for nomination as candidate for Director who is an Audit and Supervisory Committee member]
Mr. Higaki has extensive experience and expert knowledge of the Company’s business activities from his service as a block manager
of management departments. The Company judges that he will contribute towards further strengthening our corporate governanceand continue to nominate him as a candidate for Director who is an Audit and Supervisory Committee member.
Notes: 1. There is no special interest between the candidate and the Company.
2. Pursuant to the provisions of Article 427, paragraph (1) of the Companies Act, the Company has entered into agreementswith Yasuo Higaki to limit his liability for damages under Article 423, paragraph (1) of the same Act. The maximum
amount of liability for damages under this agreement is the minimum liability amount provided for under laws andregulations. If Yasuo Higaki is elected, the Company plans to continue identical agreements with him.
3. The Company plans to enter into a directors and officers liability insurance policy as provided for in Article 430-3,
paragraph (1) of the Companies Act with an insurance company, with all Directors as the insured. The policy will coverlosses that may arise from the insured’s assumption of liability incurred in the course of the performance of duties, orreceipt of claims pertaining to the pursuit of such liability. In addition, Yasuo Higaki is included as an insured in the policy,
and the Company plans to renew the policy with the same terms when the policy is renewed.

-7-Proposal No. 4:

Payment of Special Service Reward to a Retiring Director

Mr. Toshihiko Nishiki, who will retire as Director due to his term of office expiring at the conclusion of this meeting,has managed the Company since he assumed the office of Director in February 1973, and has promoted managerial
structural reforms in the Company and expanded the business base since he assumed the office of Representative
Director and President in June 1995, thus has made great contributions to improve the Company’s corporate value.
Therefore, as reward to Mr. Toshihiko Nishiki’s achievements and work during his tenure, the Company proposes topresent him with ¥50 million as a special service reward in addition to the payment of retirement benefits approvedat the 57th Annual General Shareholders Meeting held in June 2008.
Matters such as the payment period and method of the special service reward shall be entrusted to the Board ofDirectors.
Furthermore, this proposal has passed through the deliberation and findings process of the Nomination andRemuneration Committee.
The career summary of the retiring Director is as follows:
NameToshihiko Nishiki

Mar. 1968
Feb. 1973
Mar. 1976
Mar. 1982
June 1989
June 1991
June 1995
June 2008
June 2010
June 2011
Apr. 2021

Career summary
Joined the Company
Director
Managing DirectorSenior Managing Director
Representative Director and Senior Managing Director
Representative Director and Vice President
Representative Director and President
Representative Director and Executive Chairman
Representative Director and Executive Chairman, President
Representative Director and Executive ChairmanExecutive Chairman (current position)-8-<Reference>
The expertise and experience expected of each Director in the event that Proposals No. 2 and 3 are approved are as indicated on thefollowing skills matrix.
NameGender

Position and responsibility in theCompany

Corporatemanagement

Sales andmarketing

○○

○

○

Representative
Director andPresident
Executive Officer

Nomination andRemuneration
Toshikazu Fuke Male
Committee
memberHead of Sales,
Representative
General Manager
Kenichi
Director andMaleof East Block, andOkamoto
Senior Managingin charge ofExecutive Officer
Central Block
Director andGeneral ManagerAtsushi
Male Managingof Administration
Sangawa
Executive Officer Department
Director andGeneral Manager
Hajime Sasaki
Male Senior Executiveof West Block
OfficerGeneral Manager
Director andof Business
Jyunji Morita
Male Senior Executive
Promotion
OfficerDepartment
Full-time Auditand Supervisory
Yasuo Higaki
Male Director
Committee
memberAudit andSupervisory
Committee
Independent
memberKiyokazu Furuta Maleoutside Director Nomination andRemuneration
Committee
memberAudit andSupervisory
Committee
MasaruIndependent
member
MaleKawakami
outside Director Chair ofNomination andRemuneration
Committee
Audit andYasuko
Independent
SupervisoryFemale
Terashimaoutside Director Committee
member-9-○

Finance andaccounting

Human
Complianceresources
and riskmanagement management

○

○

○

○

○

○

○
○

○

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