On June 28, 2022, Kyokuto Boeki Kaisha, Ltd. announced the Voting Results of Proposals resolved at the 102nd Ordinary General Meeting of Shareholders held on June 23, 2022. The Proposals 1 to 3 of the Company were approved, and the Proposals 4 to 9 were rejected by shareholder votes. Specifically, the Proposal 1 refers to Appropriation of Surplus: 55 yen per share of common stock, Proposal 2 about Partial Amendment to the Articles of Incorporation: make necessary changes due to the introduction of the electronic provision system, and Proposal 3 about Election of Yoshiya Okada, Nobuteru Tomabechi, Masaharu Sato, Shinji Sakuma, and Takashi Fujino as directors.

Subsequently, Strategic Capital, Inc.´s Proposals not approved are the following: Proposal 4 about Election of Tsuyoshi Maruki as director who is not an Audit and Supervisory Committee member, The Proposal 5 about Revision of the provisions of articles with regard to disclosure of cost of capital finally the activist decided to withdraw proposal from the list of proposals since the disclosure of cost of capital has already been accomplished, Proposal 6 about Amendments to the Articles of Incorporation concerning Cross-Shareholdings: Add the following chapters and provisions to the current Articles of Incorporation, (i) At least once a year, inform the issuer of the cross-shareholdings that wish to sell the shares in order to verify whether the shares are actually fulfilled, (ii) The Company shall submit the corporate governance report submitted by the Company to the Tokyo Stock Exchange for each issuing company based on the content of the responses received from the issuing company in response to the offer to sell to the issuing company in the preceding paragraph, Proposal 7 about Partial Amendment to the Articles of Incorporation: Add Holding and Management of Investment Shares for the Purpose of Holding Purely, Proposal 8 about regarding the Cancellation of Treasury Shares, and Proposal 9 about Cancellation of treasury stock, Subject to the approval of Proposal 8, all treasury stock held by the Company will be cancelled.