Takeover Defense Measures

The Company received the approval of shareholders at the 51st Ordinary General Meeting of Shareholders held on May 29, 2008 for the “Countermeasures toward Large-Scale Purchases of the Company's Shares, etc." (hereinafter, the “Original Plan"); consequently, the Company received the approval of shareholders at the Ordinary General Meetings of Shareholders held on May 26, 2011, May 22, 2014, May 25, 2017, and May 21, 2020, respectively, to continue the Original Plan with necessary amendments. The validity period of the Original Plan was until the conclusion of the 66th Ordinary General Meeting of Shareholders held on May 25, 2023 (hereinafter, the Takeover Defense Measures in effect until the 66th Ordinary General Meeting of Shareholders are referred to as the “Previous Plan").

Accordingly, the Company hereby announces that it submitted Proposal 4 “Continuation of the Countermeasures (Takeover Defense Measures) toward Large-Scale Purchases of the Company's Shares, etc." to the 66th Ordinary General Meeting of Shareholders held on May 25, 2023 and received approval for the proposal at the same Meeting, after partially amending the Previous Plan based on the result of various reviews on the Previous Plan from the perspective of securing and enhancing the corporate value of the Company and the common interests of its shareholders.

The Company is committed to continuing to secure and enhance the corporate value of the Company and the common interests of its shareholders based on the intent of our shareholders as expressed at the Meeting.