On January 23, 2025, Kao Corporation announced that it had received a written notice from Oasis Japan Strategic Fund Ltd. exercising their right to submit a shareholder proposal regarding the agenda items for the 119th Annual General Meeting of Shareholders scheduled for late March 2025. The proposals included Proposal No. 4: Election of 5 outside directors, Proposal No.
5: Revision of remuneration for outside directors, Proposal No. 6: Granting of post-performance stock compensation to outside directors, and Proposal No. 7: Approval of the stock compensation system for directors excluding outside directors.
Kao Corporation will inform shareholders of the opinion of its Board of Directors regarding this proposal as soon as it is determined.