May 27, 2021
Company name: Osaki Electric Co., Ltd.
Representative: Chairman and CEO
Yoshihide Watanabe(Code: 6644, TSE 1st Section)
Contact: Senior Managing Executive Officer
Head of Administration Division
Kazuo Nemoto

Notice regarding Change of Independent Auditor

Osaki Electric Co., Ltd. (Tokyo, hereinafter “Osaki” or “the company”) hereby announces that it has resolved, at a
meeting of the Audit & Supervisory Board held on May 27, 2021, to change its independent auditor, who performs
the audit certification set forth in the Article 193-2, paragraphs (1) and (2) of the Financial Instruments andExchange Act. At the meeting of the Board of Directors held on the same day, the company has resolved to submit a
proposal for "Appointment of Accounting Auditor" to the Ordinary General Meeting of Shareholders to be held on
June 25, 2021.The details are as described below.

1.

Scheduled date of change
June 25, 2021 (Scheduled date for 107th Ordinary General Meeting of Shareholders)2.

Overview of incoming and retiring independent auditors(1) Overview of incoming independent auditor
(i)

Name

RSM Seiwa(ii)

Location

4F Shosankan Building, 1 Chome 3−2 Iidabashi, Chiyoda-ku, Tokyo(iii)

Name of engagement partner(Plan)

Etsuo Kakehi

Registration status under theregistration system for listed(iv)company audit firms of theRegistered

Japanese Institute of Certified
Public Accountants(2) Overview of retiring independent auditor(i)Name(ii)

Location(iii)

Name of engagement partners

Hara Audit Corporation
264 Shin-Otemachi Bldg, 2 Chome 2−1 Otemachi, Chiyoda-ku,
Tokyo
Tadashi Shimazaki
Masaki Oishi

13.

Reason for selecting the party stated in 2. (1) as a candidate for independent auditor
The Audit & Supervisory Board has selected RSM Seiwa as a qualified candidate for the accounting auditor
based on a comprehensive consideration of the quality control system, independence, size of the firm and theirexpertise. The Board also expects that the firm will strengthen the global audit structure and bring a newperspective in conducting audit at the Company.

4. Date of original appointment of retiring independent auditor
January, 1962

5. Opinions on audit reports and other documents prepared by the retiring independent auditor over the last threeyears
Not applicable.

6. Reason and background for determining or leading to change
The contract with the accounting auditor, Hara Audit Corporation, expires at the closing of the 107th Ordinary
General Meeting of Shareholders scheduled to be held on June 25, 2021. The Company has appointed Hara
Audit Corporation for more than 59 years. However, the Company decided to terminate the contract for thefollowing reasons; a) continuous auditing by the same firm over a long period of time may not be appropriate
in the view of enhancing governance, b) the Certified Public Accountants and Auditing Oversight Boardwarned against Hara Audit Corporation on February 26, 2021, and reported to Director of the Financial
Services. The reasons for appointing RSM Seiwa as the independent auditor are stated in 3. above.

7. Opinions for reason and background described in 6. above(1) Opinion of retiring independent auditor
None(2) Opinion of the Audit & Supervisory Board
Reasonable

End of notice2