H U : Notice Regarding Partial Amendments to the Articles of Incorporation

Translation

Notice: This document is an excerpt translation of the original Japanese document and is for reference purposes only. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

May 20, 2022

FOR IMMEDIATE RELEASE

Company name: H.U. Group Holdings, Inc.

Representative: Shigekazu Takeuchi, Director,

President and Group CEO

Securities code: 4544 Prime Market, Tokyo Stock

Exchange

Contact: Atsuko Murakami, Executive

Officer and CFO

Telephone No.: [phone]

Notice Regarding Partial Amendments to the Articles of Incorporation

H.U. Group Holdings, Inc. (hereinafter, "the Company") hereby announces that the proposal was approved at a Board of Directors held on May 20, 2022, for partial amendments to the Articles of Incorporation to be resolved at the 72nd Ordinary General Meeting of Shareholders on June 21, 2022.

1. Reason of the amendments

Since the revised provisions stipulated in the proviso to Article 1 of the Supplementary Provisions of the "Act for Partial Revision of the Companies Act" (Act No. 70 of 2019) will be effective from September 1, 2022, the Company proposes the following amendments to the Articles of Incorporation in preparation for the implementation of the system for electronic provision of relevant reference documents for general meetings of shareholders.

1. Article 15, Paragraph 1 of the proposed amendments stipulates that information contained in the reference documents and other information for general meeting of shareholders, shall be provided by electronical means.
2. Article 15, Paragraph 2 of the proposed amendments establishes the scope of documents to be delivered to shareholders who have requested hardcopies of documents.
3. The provisions of Article 15 of the current Articles of Incorporation (Internet Disclosure and Deemed Provision of Reference Documents and Other Information for General Meeting of Shareholders) will become unnecessary and shall be deleted.
4. Supplementary provisions shall be established concerning the effective date, etc., in line with the new establishments and deletions above.

2.Details of the revision

Details of the amendments are as follows:

	(Underlined portions indicate amendments.)
Current Articles of Incorporation	Proposed amendments
Chapter III	Chapter III
General Meeting of Shareholders	General Meeting of Shareholders
Article 15 (Internet Disclosure and Deemed	(Deleted)

Provision of Reference Documents and
Other Information for General Meeting of
Shareholders)
When the Company convenes a general meeting of
shareholders, if the Company discloses information
concerning matters that must be stated or displayed in
the reference documents for general meeting of
shareholders, business report, financial statements, and
consolidated financial statements via internet
disclosure in accordance with the Ordinance of the
Ministry of Justice, it may be deemed that the Company
has provided that information to shareholders.
(Newly established)	Article 15 (Measures for Provision of Information
	Electronically)
	1. When the Company convenes a general meeting
	of shareholders, the Company shall electronically
	provide information contained in the reference
	documents and other information for general
	meeting of shareholders.
	2. Among information to be provided electronically,
	the Company reserves the right to exclude, in
	whole or in part, any or all of the information set
	forth by the Ordinance of the Ministry of Justice
	in the documents to be delivered to shareholders
	who have requested delivery of hard copies of
	documents by the record date of voting rights.
(Newly established)	(Supplementary Provisions)
	1. The deletion and new establishment of Article 15
	shall become effective from September 1, 2022,
	which is the effective date of the proviso to
	Article 1 of the Supplementary Provisions of the
	Act for Partial Revision of the Companies Act
	(Act No. 70 of 2019) (hereinafter referred to as
	the "Effective Date").
	2. Notwithstanding the provisions of the previous
	paragraph, Article 15 (Internet Disclosure and
	Deemed Provision of Reference Documents and
	Other Information for General Meeting of
	Shareholders) of the Articles of Incorporation
	prior to amendment shall apply to any general
	meeting of shareholders held within six (6)

months from the Effective Date.

3. These supplementary provisions shall be deleted after six (6) months have elapsed from the Effective Date or after three (3) months have elapsed from the date of the general meeting of shareholders set forth in the previous paragraph, whichever comes later.

3. Schedule

Scheduled date for General Meeting of Shareholders to

Resolve the amendment to the Articles of Incorporation: June 21, 2022 (Tuesday)

Effective date of the amendments to the Articles of Incorporation: June 21, 2022 (Tuesday)

End