Kanamoto : Notification and Invitation to the 59th Regular General Meeting of the Shareholders

Securities Code 9678

January 4, 2024

To Our Shareholders

1-19, Odori Higashi 3-chome

Chuo-ku, Sapporo, Hokkaido

060-0041, Japan

Tetsuo Kanamoto, President

Notification and Invitation to the 59th 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 59th Regular General Meeting of the Shareholders

of Kanamoto Company, Ltd., which will be convened at the time and location indicated below. 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 the shareholders, etc. (items for which measures for providing information in electronic format are to be taken) in electronic format, and posts this information on the Company's website. Please access the website by using the Internet address shown below to review the information.

[The Company's website]

https://www.kanamoto.co.jp

In addition to posting items subject to measures for electronic provision on the website above, the Company also posts this information on the website of Tokyo Stock Exchange, Inc. (TSE). Please access the website by using the internet address shown below to review the information.

[TSE website (Listed Company Search)]

https://www.kanamoto.co.jp

To access the information, please access the TSE website by using the Internet address shown above, enter the issue name (company name) or securities code "9678" in "Code," and click "Search," and then click "Basic information" and select "Documents for public inspection/PR information."

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 24, 2024 (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 24, 2024 (Japan time).

◎Please refer to the Instructions When Exercising of Voting Rights Using the Internet, etc. provided below on Page 15 to 16.

－1－

1.	Date and Time	Thursday, January 25, 2024, 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 59th Business Period (from November 1, 2022 to October 31, 2023)
2. Report of the Non-Consolidated Financial Statements for the 59th Business Period (from November

1, 2022 to October 31, 2023)

Resolutions to be presented for Shareholder Approval

Resolution#1	Appointment of thirteen (13) individuals to position of Director
Resolution#2	Appointment of one (1) individual to position of Corporate Auditor

• Information on exercise of voting rights
  If neither approval nor disapproval of the proposal(s) is indicated on the Form for Exercising Voting Rights of a vote exercised in writing (by mail), the Company will deem that you indicated your approval of the proposal(s).
• 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.

◎For this general meeting of shareholders, we have delivered paper-based documents stating the items subject to measures for electronic provision to all shareholders, regardless of whether or not they have requested them. Among the items subject to measures for electronic provision, based on laws and regulations and Article 16 of Kanamoto's Articles of Incorporation, the following items are not provided in the paper-based documents delivered.

1. Notes to the Consolidated Financial Statements
2. Notes to the Non-Consolidated Financial Statements

Accordingly, the Report of Business Operations, Consolidated Financial Statements and Non-Consolidated Financial Statements that are included in the documents are part of what was audited when the Accounting Auditor prepared its Audit Report and the Board of Corporate Auditors prepared its Audit Report, respectively.

In the event of revisions to the items subject to measures for electronic provision, the Company will publish a notification to that effect, and the corrected and pre-corrected versions of these items on its Internet website and the TSE website.

－2－

Reference Documents for the General Meeting of the Shareholders

Resolution＃1 Appointment of thirteen (13) individuals to position of Director

The term of office of thirteen (13) 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

－3－

		Nominee			Name		Employment history and position and duties at Kanamoto
				(Date of birth)
		number
				(Gender)
							April 1973	Joined Kanamoto Co., Ltd.
					Kanchu Kanamoto	November 1981	Promoted to Director
					January 1990	Promoted to Executive Director
					(November 29, 1946)
					April 1996	Promoted to Executive Vice President
					(Male)
					June 1998	Promoted to President and CEO
					[Reappointment]	January 2001	Promoted to Corporate Officer
					November 2016	Promoted to Chairman of the Board and
								Representative Director (Present position)

[Main concurrent positions at other entities]

1

Chairman of the Board, Kanamoto (China) Investment Co., Ltd.

[The reason that the Company has proposed Kanchu Kanamoto as a candidate for Director] He has extensive experience and expertise regarding the business activities of the Company through executing the duties of Chairman of the Board and Representative Director of the Company. From the perspective of promoting the sustainable growth of the Company and enhancing the medium- to long-term corporate value, the Company has judged him to be suitable as a director of the Company and has continued to appoint him as a candidate for director.

	Number of shares of Kanamoto		Number of years in office		Attendance at Board of
	stock owned				Directors meetings
	244,000 shares				42years			5/5
			January 1983	Joined Kanamoto Co., Ltd.
			September 2000	Regional Manager, Construction Equipment
						Rental Division Kanto Region
			April 2001		Promoted to Corporate Officer
	Tetsuo Kanamoto		November 2002	Division Manager, Construction Equipment
					Rental Division
	(May 21, 1960)
		January 2004	Promoted to Director
	(Male)
		June 2005		General Manager, Business Coordination
	[Reappointment]					Headquarters (Present position)
		April 2012		Promoted to Senior Corporate Officer
			November 2014	Promoted to Senior Vice President and
						Corporate Officer
			November 2016	Promoted to President and CEO and
						Corporate Officer (Present position)
2	[Main concurrent positions at other entities]
President and Representative Director, Toyo Industry Co., Ltd.
	Chairman of the Board and Representative Director, Unite Co., Ltd.
	Chairman of the Board and Representative Director, KG Flowtechno Co., Ltd.
	President and Representative Director, SOOKI HOLDINGS Co., Ltd.
	Chairman of the Board and Representative Director, Kanki Co., Ltd.

[The reason that the Company has proposed Tetsuo Kanamoto as a candidate for Director] He has extensive experience and expertise regarding the business activities of the Company through executing the duties of President and CEO, and as well as the duties of the division manager of a Business Division. From the perspective of promoting the sustainable growth of the Company and enhancing the medium- to long-term corporate value, the Company has judged him to be suitable as a director of the Company and has continued to appoint him as a candidate for director.

	Number of shares of Kanamoto	Number of years in office		Attendance at Board of
	stock owned		Directors meetings
	27,487 shares	20years	5/5

－4－

		Nominee			Name		Employment history and position and duties at Kanamoto
				(Date of birth)
		number
				(Gender)
							April 1994	Joined Kanamoto Co., Ltd.
							April 2001	Regional Manager, Construction Equipment
								Rental Division Kinki-Chubu Region
							January 2003	Promoted to Corporate Officer (Present
								position)
							April 2003	Regional Manager, Construction Equipment
								Rental Division Tohoku Region
					Tatsuo Kanamoto	April 2005	Regional Manager, Construction Equipment
						Rental Division Hokkaido Region (Present
					(February 2, 1962)
						position)
					(Male)
					January 2007	Promoted to Director (Present position)
					[Reappointment]	February 2012	Promoted to Deputy Division Manager,
						Construction Equipment Rental Division
							February 2014	General Manager, Steel Sales Division
							February 2016	Manager in charge of Steel Sales Division
	3						(Present position)
					April 2016	Regional Manager, Construction Equipment
								Rental Division Kanto & Koshinetsu Region
							November 2016	Division Manager, Construction Equipment
								Rental Division

[The reason that the Company has proposed Tatsuo Kanamoto as a candidate for Director] He has extensive experience and expertise regarding the business activities of the Company through executing the duties of the division manager of the Construction Equipment Rental Division and the general manager of the Steel Sales Division. From the perspective of promoting the sustainable growth of the Company and enhancing the medium- to long-term corporate value, the Company has judged him to be suitable as a director of the Company and has continued to appoint him as a candidate for director.

	Number of shares of Kanamoto		Number of years in office		Attendance at Board of
	stock owned				Directors meetings
	91,800 shares				17years		5/5
			January 2012	Joined Kanamoto Co., Ltd. and appointed
						Corporate Officer (Present position)
						Assistant to General Manager, Business
						Coordination Headquarters
						Promoted to Director (Present position)
			April 2012		Division Manager, Information Products
	Kazunori Hashiguchi					Division
					Division Manager, Market Development
	(March 28, 1960)
					Division (currently General Manager, Market
	(Male)
					Development Office) (Present position)
	[Reappointment]		November 2013	Manager in charge of New Products Office
					serving concurrently as Manager in charge of
						Construction Equipment Rental Division
						Event Marketing Division
4			February 2016	Manager in charge of Information Products
					Division
			November 2018	Division Manager, Human Resources Division
						(Present position)

[The reason that the Company has proposed Kazunori Hashiguchi as a candidate for Director] He has extensive experience and expertise regarding the business activities of the Company through executing the duties of the Market Development Division and Division Manager, Human Resources Division. From the perspective of promoting the sustainable growth of the Company and enhancing the medium- to long-term corporate value, the Company has judged him to be suitable as a director of the Company and has continued to appoint him as a candidate for director.

	Number of shares of Kanamoto	Number of years in office		Attendance at Board of
	stock owned		Directors meetings
	4,800 shares	12years	5/5
		－5－

		Nominee		Name		Employment history and position and duties at Kanamoto
			(Date of birth)
		number
			(Gender)
						March 1988	Joined Kanamoto Co., Ltd.
						May 2012	General Manager Affiliated Business Office
						April 2016	Regional Manager, Construction Equipment
							Rental Division Kansai & Tyubu
				Akira Sannomiya		Region(currently West Japan Region)
				November 2019	Promoted to Corporate Officer (Present
				(February 22, 1965)
					position)
				(Male)
				November 2020	Regional Manager, Construction Equipment
				[Reappointment]		Rental Division Kyusyu Region
				January 2021	Promoted to Director (Present position)
						January 2023	Division Manager, Business Administration
							Division serving concurrently as Division
							Manager, Used Products Sales Division
							(Present position)

5 [Main concurrent positions at other entities]

President and Representative Director, Kanatech Co., Ltd.

[The reason that the Company has proposed Akira Sannomiya as a candidate for Director] He has extensive experience and expertise regarding the business activities of the Company through executing the duties of the regional manager of the Construction Equipment Rental Division and division manager Business Administration Division and Used Products Sales Division. From the perspective of promoting the sustainable growth of the Company and enhancing the medium- to long-term corporate value, the Company has judged him to be suitable as a director of the Company and has continued appointed him as a candidate for director.

	Number of shares of Kanamoto		Number of years in office		Attendance at Board of
	stock owned				Directors meetings
	11,700 shares				3year			5/5
			September 1990	Joined Kanamoto Co., Ltd.
			May 2006		Division Manager, Construction Equipment
						Rental Division National Special Demand
						Sales Division (Present position)
	Jun Watanabe		January 2017	Promoted to Corporate Officer (Present
					position)
	(January 2, 1970)		November 2018	Manager in charge of New Products Office
	(Male)					serving concurrently as Manager in charge of
						Construction Equipment Rental Division
	[Reappointment]		January 2021	Event Marketing Division
			Promoted to Director (Present position)
			November 2021	General Manager New Products Office
						(Present position)
			September 2023	Division Manager, Construction Equipment
6						Rental Division (Present position)
	[Main concurrent positions at other entities]
	President and Representative Director, KG Flowtechno Co., Ltd.

[The reason that the Company has proposed Jun Watanabe as a candidate for Director]

He has extensive experience and expertise regarding the business activities of the Company through executing the duties of the division manager of the Construction Equipment Rental Division and National Special Demand Sales Division. From the perspective of promoting the sustainable growth of the Company and enhancing the medium- to long-term corporate value, the Company has judged him to be suitable as a director of the Company and has continued appointed him as a candidate for director.

	Number of shares of Kanamoto	Number of years in office		Attendance at Board of
	stock owned		Directors meetings
	6,500 shares	3year	5/5

－6－

		Nominee			Name		Employment history and position and duties at Kanamoto
				(Date of birth)
		number
				(Gender)
							April 1988	Joined The Industrial Bank of Japan, Limited
								(currently Mizuho Bank, Ltd.)
							April 2013	General Manager, Qingdao Branch, Mizuho
								Corporate Bank (China), Ltd. (currently
								Mizuho Bank (China), Ltd.)
							April 2016	General Manager, China Business Promotion
								Department, Mizuho Bank, Ltd.
					Shun Hirose	June 2018	Advisor, Kanamoto Co., Ltd.
					November 2018	Joined Kanamoto Co., Ltd. and appointed
					(July 1, 1964)
						Corporate Officer (Present position)
					(Male)
						Acting Division Manager, Administration
					[Reappointment]		Division
					January 2019	General Manager, Public Relations Office
								(Present position) Division Manager,
								Administration Division serving concurrently
	7						as General Manager, Secretary Office
					January 2021	Promoted to Director (Present position)
								Division Manager, Accounting Division;
								serving concurrently as Manager, Bill
								Collection Center (Present position)

[The reason that the Company has proposed Shun Hirose as a candidate for Director] He has knowledge in the fields of banking and finance through serving in positions of responsibility in Mizuho Bank Ltd. as well as extensive experience and expertise regarding the business activities of the Company through executing the duties of the division manager Accounting Division and Public Relations Division. From the perspective of promoting the sustainable growth of the Company and enhancing the medium- to long-term corporate value, the Company has judged him to be suitable as a director of the Company and has continued appointed him as a candidate for director.

	Number of shares of Kanamoto		Number of years in office		Attendance at Board of
	stock owned				Directors meetings
	4,100 shares				3year			5/5
			April 1988		Joined The Bank of Tokyo, Ltd. (currently
						MUFG Bank, Ltd.)
			September 2011	Deputy President, Bank of Tokyo-Mitsubishi
						UFJ (Malaysia) Berhad (currently MUFG Bank
						(Malaysia) Berhad)
	Hideaki Yamashita		April 2015		General Manager, Aoyamadori Branch, The
					Bank of Tokyo-Mitsubishi UFJ, Ltd.
	(June 15, 1965)		February 2017	General Manager, Akasaka Branch, The Bank
	(Male)					of Tokyo-Mitsubishi UFJ, Ltd.
			June 2018		Advisor, Kanamoto Co., Ltd.
	[Reappointment]		November 2018	Joined Kanamoto Co., Ltd. and appointed
						Corporate Officer (Present position)
						Acting Division Manager, Overseas Business
8						Division
		January 2019	Division Manager, Overseas Business
						Division (Present position)
			January 2021	Promoted to Director (Present position)

[The reason that the Company has proposed Hideaki Yamashita as a candidate for Director]

He has knowledge in the fields of banking and finance through serving in positions of responsibility in MUFG Bank Ltd. as well as extensive experience and expertise regarding the business activities of the Company through executing the duties of the division manager of the Overseas Business Office of the Company. From the perspective of promoting the sustainable growth of the Company and enhancing the medium- to long-term corporate value, the Company has judged him to be suitable as a director of the Company and has continued appointed him as a candidate for director.

	Number of shares of Kanamoto	Number of years in office		Attendance at Board of
	stock owned		Directors meetings
	2,900 shares	3year	5/5
		－7－

		Nominee			Name		Employment history and position and duties at Kanamoto
				(Date of birth)
		number
				(Gender)
							April 1990	Joined ORIX Corporation
							November 2011	General Manager, Electric Power Business
								Department, ORIX Corporation
							May 2012	General Manager, Electric Power Business
								Department, ORIX Corporation
								Promoted to President, ORIX Electric Power
								Corporation
							March 2013	General Manager, Sales Department I, ORIX
								Corporation
							January 2016	Trustee, Deputy Head, Tokyo Sales
								Headquarters, General Manager, Sales
					Susumu Naito		Department I, ORIX Corporation
					(July 4, 1967)	January 2017	Trustee, Deputy Head, Eastern Japan Sales
					(Male)		Headquarters, ORIX Corporation
								President and Representative Director, ORIX
					[Reappointment]		Food Supply Corporation
					[Candidate for Outside		Outside Director, Kanamoto Co., Ltd.
					Director]	June 2018	(Present position)
					[Independent Officer]	Director, Hyakugo Leasing Company Limited
					January 2019	Senior Managing Executive Officer
								General Manager of Lease Sales Division,
								Manager in charge of Fleet Management
								Department, and Supervising Manager of
								Truck Rental Division, ORIX Auto Corporation
								(Present position)
	9					January 2023	Executive Officer, ORIX Corporation
						Executive Officer and Deputy President,
								ORIX Auto Corporation (Present position)
							January 2024	Group Executive, ORIX Corporation (Present
								position)

[The reason that the Company has proposed Susumu Naito as a candidate for Outside Director and overview of expected roles]

Since he has successively held responsible positions in ORIX Corporation, and furthermore, has gained experience of management of its subsidiary, he can use his extensive experience and

knowledge cultivated to contribute to the management of the Company. The Company also expects him to provide appropriate advice from a broad viewpoint concerning the Company's business activities.

[Matters concerning independency]

He has fulfilled the requirements of the "criteria for judging the independence of outside directors," set forth by the Company, and the Company has notified the Tokyo Stock Exchange and Sapporo Securities Exchange, the exchanges on which Kanamoto's shares are listed, of the position of Susumu Naito as an "independent officer" as provided by the rules etc. of both exchanges.

The amount of transactions between the Company and the ORIX Group where he works is not more than 0.1% of the ORIX Group's and the Company's respective consolidated sales in the last fiscal year. Therefore, this has no impact on his independence.

	Number of shares of Kanamoto	Number of years in office		Attendance at Board of
	stock owned		Directors meetings
	-	7years	5/5

－8－

		Nominee			Name		Employment history and position and duties at Kanamoto
				(Date of birth)
		number
				(Gender)
							April 1989	Joined ORIX Corporation
							March 2005	Branch Manager, Kofu Branch Office, ORIX
								Corporation
							March 2009	Branch Manager, Saitama Branch Office,
								ORIX Corporation
							March 2013	Block Manager, Integrated Central Block No.
								2, ORIX Corporation
							March 2015	Block Manager, Central Block, ORIX
					Eiji Arita		Corporation
					January 2017	Administrative Officer, Deputy General
					(April 17, 1966)
						Manager, Eastern Japan Sales Division, ORIX
					(Male)
						Corporation
					[Reappointment]	January 2019	Executive Officer, Deputy General Manager,
						Corporate Sales Division, ORIX Corporation,
					[Candidate for Outside
						Regional Sales Representative
					Director]
					April 2019	Director, Kyuko-Lease Inc. (Present position)
					[Independent Officer]
					June 2019	Director, Torigin Lease Inc. (Present position)
							January 2020	Executive Officer, Deputy General Manager,
								Corporate Sales Division (General Manager
								of Domestic Sales Division), ORIX
								Corporation (Present position)
								Outside Director, Kanamoto Co., Ltd.
	10						(Present position)
					January 2024	Managing Executive Officer, ORIX
								Corporation(Present position)

[The reason that the Company has proposed Eiji Arita as a candidate for Outside Director and overview of expected roles]

Since he has successively held responsible positions in ORIX Corporation, he can use his extensive experience and knowledge cultivated to contribute to the management of the

Company. The Company also expects him to provide appropriate advice from a broad viewpoint concerning the Company's business activities.

[Matters concerning independency]

He has fulfilled the requirements of the "criteria for judging the independence of outside directors," set forth by the Company, and the Company has notified the Tokyo Stock Exchange and Sapporo Securities Exchange, the exchanges on which Kanamoto's shares are listed, of the position of Eiji Arita as an "independent officer" as provided by the rules etc. of both exchanges.

The amount of transactions between the Company and the ORIX Group where he works is not more than 0.1% of the ORIX Group's and the Company's respective consolidated sales in the last fiscal year. Therefore, this has no impact on his independence.

	Number of shares of Kanamoto	Number of years in office		Attendance at Board of
	stock owned		Directors meetings
	-	4years	5/5

－9－

		Nominee			Name		Employment history and position and duties at Kanamoto
				(Date of birth)
		number
				(Gender)
					Motoki Yonekawa	May 1985	Vice President, Sapporo Hokuyu Hospital
					April 1996	President, Sapporo Hokuyu Hospital of
					(December 22, 1946)
						Medical Corporation Hokuyukai
					(Male)
					April 2007	Chairperson, Specified Medical Corporation
					[Reappointment]		Hokuyukai
					September 2011	Chairperson, Social Medical Corporation
					[Candidate for Outside
						Hokuyukai (Present position)
					Director]
					January 2016	Outside Director, Kanamoto Co., Ltd.
					[Independent Officer]
						(Present position)

[The reason that the Company has proposed Motoki Yonekawa as a candidate for Outside Director and overview of expected roles]

Although he has not participated in corporate management, he can use his experience and knowledge as an executive at a medical institute, which is in an industry different to that in

which the Company operates, to contribute to the management of the Company. The Company

11 also expects him to provide appropriate advice from a broad viewpoint concerning the Company's business activities.

[Matters concerning independency]

He has fulfilled the requirements of the "criteria for judging the independence of outside directors," set forth by the Company, and the Company has notified the Tokyo Stock Exchange and Sapporo Securities Exchange, the exchanges on which Kanamoto's shares are listed, of the position of Motoki Yonekawa as an "independent officer" as provided by the rules etc. of both exchanges.

He currently serves as Chairperson of the Social Medical Corporation Hokuyukai, but there are no transactions between the Corporation and the Company. Therefore, this has no impact on his independence.

	Number of shares of Kanamoto	Number of years in office		Attendance at Board of
	stock owned		Directors meetings
	-	8years	5/5

－10－