Kaga Electronics : Notice of the 55th Ordinary General Meeting of Shareholders

Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Securities Code: 8154 Date of sending by postal mail: June 8, 2023 Start date of measures for electronic provision: June 6, 2023

To all of our shareholders

Ryoichi Kado

Representative Director, President & COO

KAGA ELECTRONICS CO., LTD.

20 Kandamatsunagacho, Chiyoda-ku, Tokyo, Japan

Notice of the 55th Ordinary General Meeting of Shareholders

We hereby inform you of the 55th ordinary general meeting of shareholders of KAGA ELECTRONICS CO., LTD. (the "Company") to be held as follows.

When convening this general meeting of shareholders, the Company takes measures for providing information that constitutes the content of reference documents for the general meeting of shareholders, etc. (matters for which measures for providing information in electronic format are to be taken) in electronic format, and posts this information on each of the following websites. Please access one of the websites by using the Internet address shown below to review the information.

The Company's website: https://www.taxan.co.jp/jp/ir/event/event_03.html (in Japanese)

Website for posted informational materials for the general meeting of shareholders https://d.sokai.jp/8154/teiji/ (in Japanese)

TSE website (Listed Company Search): https://www2.jpx.co.jp/tseHpFront/JJK010010Action.do?Show=Show (in Japanese)

(Access the TSE website by using the Internet address shown above, enter "KAGA ELECTRONICS" in "Issue name (company name)" or the Company's securities code "8154" in "Code," and click "Search." Then, click "Basic information" and select "Documents for public inspection/PR information." Under "Filed information available for public inspection," click "Click here for access" under "[Notice of General Shareholders Meeting /Informational Materials for a General Shareholders Meeting].")

If you are unable to attend the meeting in person, you may exercise your voting rights via the Internet or in writing. Please review the Reference Documents for the General Meeting of Shareholders, and exercise your voting rights by 5:30 p.m. on June 26, 2023 (Monday) (Japan Time).

1. Date and Time 10:00 a.m. on June 27, 2023 (Tuesday) (Japan Time)

2. Place	Akihabara Business Center 4F, AP Akihabara
	1-1 Akihabara, Taito-ku, Tokyo

3. Agenda of the Meeting Matters to be reported

1. The Business Report and Consolidated Financial Statements for the 55th fiscal year (from April 1, 2022 to March 31, 2023), and results of the Audit Reports by the Accounting Auditor and the Board of Auditors of the Consolidated Financial Statements
2. Non-consolidatedFinancial Statements for the 55th fiscal year (from April 1, 2022 to March 31, 2023)
   Matters to be resolved
   Proposal No. 1: Distribution of Surplus
   Proposal No. 2: Partial Amendments to the Articles of Incorporation
   Proposal No. 3: Election of Six (6) Directors
   Proposal No. 4: Election of Two (2) Auditors
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4. Other Matters Concerning the Meeting (Instructions on Exercise of Voting Rights)

1. If you exercise your voting rights in writing (by post), but indicate neither approval nor disapproval for a proposal on the Exercise Voting Rights Form, it will be treated as an indication of approval.
2. If you exercise your voting rights more than once via the Internet, only the last vote shall be deemed effective.
3. If you exercise your voting rights both via the Internet and in writing (by post), regardless of the date of arrival, the vote via the Internet shall be deemed effective.

If you attend the meeting in person, please present the enclosed Exercise Voting Rights Form at the reception on arrival at the meeting. If revisions to the matters subject to measures for electronic provision arise, a notice of the revisions and the details of the matters before and after the revisions will be posted on each website provided on the previous page.

For this general meeting of shareholders, we have delivered paper-based documents stating the matters subject to measures for electronic provision to all shareholders regardless of whether they have made a request for delivery of such documents. Among the matters subject to measures for electronic provision, in accordance with the provisions of laws and regulations and Article 16 of the Articles of Incorporation of the Company, the following matters are not provided in the paper-based documents delivered to shareholders.

1. Principal lines of business, Operating results by business segment, Employees, Major Creditors, Other Significant Information Concerning the Current State of the Corporate Group, Accounting Auditor, and Company Structure and Policies in the Business Report
2. Consolidated Statement of Comprehensive Income, Consolidated Statement of Changes in Equity and Notes to the Consolidated Financial Statements
3. Statement of Changes in Equity and Notes to Non-consolidated Financial Statements

Accordingly, the Business Report, Consolidated Financial Statements, and Non-consolidated Financial Statements included in the paper-based documents constitute a part of the documents audited by the Accounting Auditor in preparing the accounting audit report and Auditors in preparing the audit report.

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Instructions on Exercise of Voting Rights

Exercise of voting rights at the Company's General Meeting of Shareholders is shareholders' important right. Please exercise your voting rights after reviewing the Reference Documents for the General Meeting of Shareholders.

You may exercise your voting rights by one of the following three methods.

Attending the General Meeting of Shareholders

Please present the enclosed Exercise Voting Rights Form at the reception desk.

Date and Time

10:00 a.m. on June 27, 2023 (Tuesday) (Japan Time) (Reception desk will open at 9:00 a.m.)

Exercising voting rights by postal mail

Please indicate your approval or disapproval of each proposal on the enclosed Exercise Voting Rights Form and return it without affixing a stamp.

Deadline

To be received no later than 5:30 p.m. on June 26, 2023 (Monday) (Japan Time)

Exercising Voting Rights via the Internet

Please indicate whether you approve or disapprove of each proposal following the instructions on the next page.

Deadline All data entry to be completed no later than 5:30 p.m. on June 26, 2023 (Monday) (Japan Time)

How to Fill Out Your Exercise Voting Rights Form

Please indicate whether you approve or disapprove of each proposal.

Proposal Nos. 1 and 2	Circle "Approve (賛)"
・	To mark your approval
・	To mark your disapproval	Circle "Disapprove (否)"

Proposal Nos. 3 and 4

• To mark your approval for all candidates Circle "Approve (賛)"

・	To mark your disapproval for all candidates	Circle "Disapprove (否)"
・	To mark your disapproval for certain candidates	Circle "Approve (賛)" and write the
	number of the candidate(s) you wish to disapprove

Please note that your online vote will prevail should you exercise your voting rights both in writing (by post) and via the Internet. If you exercise your voting rights more than once via the Internet, only the last vote shall be deemed effective.

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Guidance for Exercising Voting Rights via the Internet

Scanning the QR Code

You can log in to the website for the exercise of voting rights without entering the login ID or temporary password printed on the Exercise Voting Rights Form.

1. Please scan QR Code provided on the Exercise Voting Rights Form.
2. • "QR Code" is a registered trademark of DENSO WAVE INCORPORATED.
3. Please follow the directions that appear on the screen to input approval or disapproval to each proposal.

Entering login ID and temporary password

1. Access the website for exercise of voting rights.
   Website for exercise of voting rights: https://evote.tr.mufg.jp/ (in Japanese)
2. Log in by entering your "login ID" and "temporary password" presented on the Exercise Voting Rights Form. Enter your "login ID" and "temporary password."
   Click "Login."
3. Register a new password.

Enter the "New Password."

Click the "Send."

4. Follow the directions that appear on the screen to input approval or disapproval to each proposal.

In case you need instructions for how to operate your personal computer or smartphone in order to exercise your voting rights via the Internet, please contact:

Corporate Agency Division (Help Desk), Mitsubishi UFJ Trust and Banking Corporation Phone: [phone] (9:00 a.m. to 9:00 p.m. (Japan Time); toll free (Japan only))

Institutional investors may use the Electronic Voting Platform for institutional investors operated by ICJ, Inc.

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Reference Documents for the General Meeting of Shareholders

Proposal No. 1 Distribution of Surplus

The Company intends to distribute the surplus as follows.

Matters related to year-end dividends

With respect to the year-end dividend for the 55th fiscal year, taking into account the Company's business results in the fiscal year under review and business development, etc., going forward, the Company proposes an ordinary dividend of 70 yen per share of common stock of the Company plus a 55th Anniversary commemorative dividend of 10 yen and an extraordinary dividend of 40 yen, for a total dividend payout of 120 yen per share. Note that the total amount of the dividends in this case will be 3,151,600,920 yen.

As a result, combined with the interim dividend of 100 yen per share already paid, the annual dividend payout will be 220 yen per share and the total amount of the annual dividends will be 5,777,960,720 yen.

1. Type of dividend property Cash
2. Allotment of dividend property to shareholders and the total amount 120 yen per share of common stock of the Company
   (Ordinary dividend: 70 yen)
   (Commemorative dividend: 10 yen)
   (Extraordinary dividend: 40 yen)
   Total amount: 3,151,600,920 yen
3. Effective date of distribution of surplus June 28, 2023

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