Introduction of a Policy for Responding to Large-Scale Purchase Actions, etc.

「In light of the acquisition and the recommendation dated 4 December 2023 from the Independent Committee that it would be appropriate to abolish this policy, the company reasonably determined that the threat of large-scale purchase actions and related matters by City and its affiliates had disappeared, and resolved at a Board of Directors meeting held on 4 December 2023 to abolish the policy.」

「At the annual general meeting of shareholders held on 22 June 2023, Proposal No. 5, submitted as “Approval of the implementation of countermeasures under the policy for responding to large-scale purchase actions and related matters,” was approved and adopted, with the approval of our shareholders.」

「As of 4 January 2023, we understand that City and its affiliates had come to hold our shares representing 19.96% of the shareholding ratio. In light of this accumulation of shares, at a meeting held on 11 January 2023, our Board of Directors determined a basic policy concerning the manner in which decisions on our financial and business policies should be controlled, from the perspective of ensuring our corporate value and the common interests of shareholders, and resolved to introduce the following measures in response to large-scale purchase actions and related matters involving our shares, as an initiative to prevent decisions on our financial and business policies from being controlled by persons deemed inappropriate under the basic policy concerning corporate control.」