Certain Shares of Japan Insulation Co., Ltd. are subject to a Lock-Up Agreement Ending on 16-JUN-2020. These Shares will be under lockup for 90 days starting from 18-MAR-2020 to 16-JUN-2020. Details: In connection with the Offer, Kenichi Ohashi, a shareholder and lender of the Company, and Yufumi Ohashi, our shareholder, Osaka Small and Medium Business Investment & Consultation Co., Ltd., Development Bank of Japan Inc., The Ogaki Kyoritsu Bank, Ltd., MUFG Bank, Ltd., Japan Insulation Employee Stock Ownership Association, Kyoyu Lease Co., Ltd., Mitsubishi UFJ Trust and Banking Corporation, Japan Thermal Engineering & Systems Corp., Mutsumi Ohashi, Kanako Suzuki, Jun Tominaga, Toshiya Muranaka , Nippon Life Insurance Company, The Shoko Chukin Bank, Ltd., Kazuo Shibahara, Youko Kubo, Masamitsu Kakiuchi, Sumitomo Life Insurance Company, Tokyo Energy & Systems Inc., Tomohiko Yoshii, Michiko Moriwaki, Kansai Mirai Bank, Limited, Sumitomo Mitsui Banking Corporation, The Momiji Bank, Ltd., AIG General Insurance Co., Ltd., Eiichi Endo, Minoru Taneda, Isolite Insulating Products Co., Ltd., Kazuma Ohashi, Daiwa House Industry Co., Ltd., Toshiyuki Yamamoto, Kazushi Yamagami , Tadaaki Motooka, K atsuhiro Morimoto, Minoru Fujita, Setsuke Miyake, Takashima & Co., Ltd., Chubu Express Co., Ltd., Teru Takahashi, Juichi Kato, Hideo Nakano, OKB Capital, Yumiko Kubo, Kazuhide Kubo, Haruaki Izumo, Kento Moriwaki, NISSEKI KOGYO CO., LTD., and 79 other members will be the lead manager for the period from the execution date of the underwriting agreement to the 180th day after the listing date (including the day) (September 14, 2020). Mitsubishi UFJ Capital Co., Ltd., a shareholder of the Company, will provide the lead managing company with the lead managing company for the period from the execution date of the underwriting agreement to the 90th day after the listing date (including that day) (June 16, 2020). Without the prior written consent of the Company, the sale of the Company's common stock, etc. (provided that the sale price of the Company's common stock is at least 1.5 times the issue price or sale price in the Offer, etc