Kanamoto : Notification and Invitation to the 58th Regular General Meeting of the Shareholders

Securities Code 9678

January 4, 2023

To Our Shareholders

1-19, Odori Higashi 3-chome

Chuo-ku, Sapporo, Hokkaido

060-0041, Japan

Tetsuo Kanamoto, President

Notification and Invitation to the 58th Regular General Meeting of the Shareholders

On behalf of the company, I would like to express our sincere appreciation for your continuing support.

It is a pleasure to send you notification of the 58th Regular General Meeting of the Shareholders of Kanamoto Company, Ltd., which will be convened at the time and location indicated below.

If you are unable to attend the Meeting, please take a few moments to read the following reference documents for the General Meeting of the Shareholders, and exercise your voting rights by using either of the procedures indicated below.

[To exercise your shareholder voting rights in writing (by mail)]

Shareholders who wish to exercise their voting rights using the Form for Exercising Voting Rights are requested to use the enclosed form to cast an affirmative or negative vote regarding the resolutions presented for approval. Please sign your voting form and return it to us by 5:00 p.m. on Wednesday, January 25, 2023 (Japan time).

[To exercise your shareholder voting rights by Internet]

Shareholders who wish to exercise their voting rights using the Internet are requested to exercise their voting rights to cast an affirmative or negative vote regarding the resolutions presented for approval by 5:00 p.m. on Wednesday, January 25, 2023 (Japan time).

◎Please refer to the Instructions When Exercising of Voting Rights Using the Internet, etc. provided below on Page 20 to 21.

1.	Date and Time	Thursday, January 26, 2023, 10:00 a.m. (Reception desk will open from 9:00 a.m.)
2.	Location	11-1 Nishi, Kita 1-jo,Chuo-ku, Sapporo, Hokkaido, Japan
		Royton Sapporo, 3rd Floor "Royton Hall"

3. Purpose and Topics of the Meeting Matters to be reported

1. Report of Business Operations and the Consolidated Financial Statements, and the Report on Results of the Audit by the Accounting Auditor and the Board of Corporate Auditors on the Consolidated Financial Statements, for the 58th Business Period (from November 1, 2021 to October 31, 2022)
2. Report of the Non-Consolidated Financial Statements for the 58th Business Period (from November

1, 2021 to October 31, 2022)

Resolutions to be presented for Shareholder Approval

Resolution#1	Amendment to the Articles of Incorporation
Resolution#2	Appointment of thirteen (13) individuals to position of Director
Resolution#3	Appointment of four (4) individuals to position of Corporate Auditor

－1－

◎Exercise of voting rights by proxy

When you will exercise your voting rights by proxy, one (1) other shareholder with voting rights can attend the General Meeting of the Shareholders as your representative. However, your proxy will be required to present documentation to verify he/she has the authority to vote on your behalf.

◎When attending the General Meeting of the Shareholders on the scheduled date, please submit the enclosed

Form for Exercising Voting Rights at the reception desk on the meeting date.

◎As part of the documents to be provided to shareholders when issuing this notification to convene a Regular General Meeting of the Shareholders, information pertaining to matters that should be disclosed in the Notes to the Consolidated Financial Statements and Notes to the Non-Consolidated Financial Statements will be provided to shareholders in the form of documents available on Kanamoto's Internet website [https://www.kanamoto.ne.jp] based on laws and regulations and Article 16 of Kanamoto's Articles of Incorporation.

In addition to the matters described in the enclosed 58th Business Period Report of Business Operations, the matters that should be disclosed as Notes to the Consolidated Financial Statements and Notes to the Non- Consolidated Financial Statements are included as well in the Consolidated Financial Statements and Non- Consolidated Financial Statements that were audited when the Board of Corporate Auditors prepared its Audit Report and the Accounting Auditor prepared its Audit Report, respectively.

In the event of revisions to the Reference Documents for the General Meeting of the Shareholders described below and the Report of Business Operations or Consolidated Financial Statements and the Non-Consolidated Financial Statements described in the 58th Business Period Report of Business Operations, the Company will publish the changes on its Internet website [https://www.kanamoto.ne.jp].

Request to voluntarily refrain from attending the General Meeting of the Shareholders to

prevent the spread of COVID-19

To prevent the spread of the novel coronavirus disease (COVID-19) we ask that all shareholders refrain from attending the General Meeting of the Shareholders. We ask that you exercise your voting rights in writing or by using the Internet.

The Company will be taking the following measures with regard to the holding and operating of the General Meeting of the Shareholders to prevent the spread of COVID-19. We appreciate your understanding and cooperation.

• The staff at the meeting will be wearing masks.
• Alcohol-basedhand sanitizer will be placed at the entrance of the meeting venue. All shareholders who attend the meeting are requested to bring and wear a mask.
• Because shareholders attending the meeting will be seated with spacing kept between each other in the meeting room, we ask that you follow the directions of the meeting staff.
• Because of the extra spacing between seats, the number of seats available at the venue will be much fewer compared with usual years. As a result, it is possible that some shareholders who come to the venue on the date of the meeting may be refused entry.
• Shareholders who display symptoms such as a fever or cough and shareholders who exhibit other states of poor health may be refused entry to the venue. In addition, the meeting staff may check the temperature of shareholders who come to the venue.
• The Company's officers attending the meeting may be wearing masks.
• The Company plans to omit detailed explanations of the matters to be reported (including the audit reports) and the resolutions to be presented to shorten the length of the meeting.

Note: If the above responses are updated before the meeting due to the situation regarding the spread of infection, details of announcements made by the government, etc., such information will be published on Kanamoto's Internet website [https://www.kanamoto.ne.jp]. Therefore, please be sure to check the website for any updates.

－2－

Reference Documents for the General Meeting of the Shareholders

Resolution＃1 Amendment to the Articles of Incorporation 1. Reasons for the Amendments

1. In line with the enforcement of the revised provisions provided for in the proviso to Article 1 of the Supplementary Provisions of the Act Partially Amending the Companies Act (Act No. 70 of 2019) on September 1, 2022, and the introduction of the system for providing informational materials for the general meeting of shareholders in electronic format, the Company proposes to make the following changes to its Articles of Incorporation.

• Article 16, paragraph 1 in "Proposed amendments" below will stipulate that the Company shall take measures for providing information that constitutes the content of reference documents for the general meeting of shareholders, etc. in electronic format.

• Article 16, paragraph 2 in "Proposed amendments" below will establish the provision to limit the scope of the items to be stated in the paper-based documents to be delivered to shareholders who requested the delivery of paper-based documents.

• Since Article 16 (Internet Disclosure and Deemed Provision of Reference Documents for the General Meeting of Shareholders, Etc.) in "Current Articles of Incorporation" will no

longer be required, this will be deleted.

• Accompanying the aforementioned establishment and deletion of provisions, supplementary provisions regarding the effective date, etc. will be established. These supplementary provisions shall be deleted after the specified term elapses.

1. In order to ensure that directors and corporate auditors can adequately fulfill the roles expected of them, the Company proposes to change the scope of company officers who can enter into contracts of limitation of liability pursuant to the provisions of Article 427, Paragraph 1 of the Companies Act.
   The Company has obtained the consent of every Corporate Auditor with respect to the amendment to Article 28, paragraph 2 of the Articles of Incorporation.

2. Details of the Amendments

The details of the amendments are as follows:

					(Amendments are underlined. )
	Current Articles of Incorporation	Proposed amendments
(Internet Disclosure and Deemed Provision of
Reference Documents for the General Meeting of
Shareholders, Etc.)				(Deleted)
Article 16. When the Company convenes a general
	meeting of shareholders, if it discloses
	information that is to be stated or
	indicated in the reference documents for
	the general meeting of shareholders,
	business	report,	non-consolidated
	financial	statements	and consolidated
	financial statements through the internet
	in accordance with the provisions
	prescribed by the Ministry of Justice
	Order, it may be deemed that the
	Company has provided this information
	to shareholders.

－3－

Current Articles of Incorporation		Proposed amendments
					(Measures, etc. for Providing Information in
	(Newly established)			Electronic Format)
			Article 16.
					1. When the Company convenes a general
					meeting of shareholders, it shall take
					measures for providing information that
					constitutes the content of reference
					documents for the general meeting of
					shareholders, etc. in electronic format.
					2. Among items for which the measures for
					providing information in electronic format
					will be taken, the Company may exclude all
					or some of those items designated by the
					Ministry of Justice Order from statements in
					the paper-based documents to be delivered
					to shareholders who requested the delivery
					of paper-based documents by the record
					date of voting rights.
(Exemption of Directors from Liability)		(Exemption of Directors from Liability)
Article 28. (Omitted)				Article 28. (Unchanged)
2. Pursuant to Article 427, Paragraph 1, of the	2. Pursuant to the provisions of Article 427,
Companies Act, the Company may enter into	Paragraph 1 of the Companies Act, the
an agreement with an outside director	Company may enter into an agreement with
regarding limitation of liabilities for damage	a director (excluding a director involved in
attributable to such outside director's	executing	business	operations)	regarding
negligence of duties. However, the limitation	limitation	of	liabilities	for	damage
of liability under such agreement shall be the	attributable to such director's negligence of
minimum limit amount prescribed by laws	duties. However, the limitation of liability
and regulations.				under such agreement shall be the minimum
					limit amount prescribed by laws and
					regulations.
(Exemption of Corporate Auditors from Liability)	(Exemption of Corporate Auditors from Liability)
Article 36. (Omitted)				Article 36. (Unchanged)
2. Pursuant to the provisions of Article 427,	2. Pursuant to the provisions of Article 427,
Paragraph 1 of the Companies Act, the	Paragraph 1 of the Companies Act, the
Company may enter into an agreement with	Company may enter into an agreement with
an outside corporate auditorregarding	a corporate auditorregarding limitation of
limitation	of	liabilities	for	damage	liabilities for damage attributable to such
attributable to such outside corporate	corporate auditors' negligence of duties.
auditors' negligence of duties. However, the	However, the limitation of liability under such
limitation of liability under such agreement	agreement shall be the minimum limit
shall be the minimum limit amount	amount prescribed by laws and regulations.
prescribed by laws and regulations.
					(Supplementary Provisions)
					(Transitional	Measures	Concerning	Internet
					Disclosure and Deemed Provision of Reference
					Documents of the General Meeting of
					Shareholders, Etc.)
	(Newly established)		Article 1.
		1. Article 16 of the current Articles of
					Incorporation	(Internet	Disclosure and
					Deemed Provision of Reference Documents
					for the General Meeting of Shareholders,
					Etc.) shall remain effective regarding any
					general meeting of shareholders held on a
					date within six months from September 1,
					2022 (the "Date of Enforcement").
					2. These Supplementary Provisions shall be
					deleted on the date when six months have
					elapsed from the Date of Enforcement or
					three months have elapsed from the date of
					the general meeting of shareholders in the
					preceding paragraph, whichever is later.

－4－

Resolution＃2 Appointment of thirteen (13) individuals to position of Director

The term of office of fourteen (14) Company Directors will terminate at the conclusion of the Regular General Meeting of the Shareholders.

Therefore, the Company is requesting approval to appoint thirteen (13) individuals to the position of Directors.

Information on the candidates for Director is provided below.

Areas in which the Company has particular expectations of each Director

Nominee

Attribute of

Name

Dialogue

Rental

number

candidate

Corporate

business /

Grobal

Finance/

Legal/

Sales/

with capital

Management

industry

Business

Accountihg

Compliance

Marketing

markets

knowledge

1

Kanchu

Reappointment

●

●

●

●

●

●

Kanamoto

2

Tetsuo

Reappointment

●

●

●

●

●

●

Kanamoto

3

Tatsuo

Reappointment

●

●

●

Kanamoto

4

Kazunori

Reappointment

●

●

●

●

Hashiguchi

5

Akira

Reappointment

●

●

Sannomiya

6

Jun

Reappointment

●

●

Watanabe

7

Shun

Reappointment

●

●

●

●

●

Hirose

8

Hideaki

Reappointment

●

●

●

●

Yamashita

9

Susumu

Reappointment

Outside

●

●

●

●

Naito

Independent

10

Eiji

Reappointment

Outside

●

●

●

●

Arita

Independent

11

Motoki

Reappointment

Outside

●

Yonekawa

Independent

12

Ayako

Reappointment

Outside

●

●

Tabata

Independent

13

Tetsuya

Reappointment

Outside

●

●

Okawa

Independent

(Notes) above matrix never represent all the knowledge and experience of each person

－5－