On June 30, 2023, Kumagai Gumi Co.,Ltd., announced that it held its 86th Extraordinary General Meeting of Shareholders on June 29, 2023 and according to the voting results, the shareholder proposals by Oasis Management Company Ltd. on (i)Acquisition of Treasury Stock, (ii) Appropriation of Surplus and (iii) Amendment to the Articles of Incorporation (Establishment of Strategic Review Committee) were not approved. Additionally, company nominees President Yasunori Sakurano and Representative director Tatsuru Sato, whose nominations were opposed by the activist, were appointed to their respective positions as the company proposal on nomination was approved.