Kyosan Electric Manufacturing : Notice of Resolutions of the 158th Ordinary General Meeting of Shareholders (165KB）

[Translation for Reference Purposes Only]

Please note that the following is an unofficial English translation of Japanese Notice of Resolutions of the 158th Ordinary General Meeting of Shareholders of Kyosan Electric Manufacturing Co., Ltd. Kyosan provides this translation for your reference purposes only and without any warranty as to its accuracy or otherwise. In the event of any discrepancy between this translation and the Japanese original, the latter shall prevail.

June 23, 2023

To Our Shareholders:

Ryoji Kunisawa

Representative Director, President

Kyosan Electric Manufacturing Co., Ltd.

2-29-1Heian-cho,Tsurumi-ku, Yokohama

Notice of Resolutions of the 158th Ordinary General Meeting of Shareholders

We are pleased to announce that the matters outlined below were reported and resolved at the 158th Ordinary General Meeting of Shareholders of Kyosan Electric Manufacturing Co., Ltd.

Matters Reported: 1. Business Report, Consolidated Financial Statements for the 158th Term (from April 1, 2022 to March 31, 2023) and Reports of Audit of the Consolidated Financial Statements by the Accounting Auditors and Audit & Supervisory Board

2. Report on the Financial Statements for the 158th Term (from April 1, 2022 to March 31, 2023)

The particulars of the above 1 and 2 were reported.

Matters Resolved:

Proposal No. 1: Appropriation of Surplus

The proposal was approved and adopted as proposed. The year-end dividend was decided to be 13 yen per share.

Proposal No. 2: Election of Seven (7) Directors

The proposal was approved and adopted as proposed. Ryoji Kunisawa, Toru Onodera, Kenjiro Kanzawa, Ryu Hihara, Hiroshi Sumitani, Mihoko Kitamura and Hiroyuki Sasa were reelected as Directors and assumed office.

Hiroshi Sumitani, Mihoko Kitamura and Hiroyuki Sasa are Outside Directors.

Proposal No. 3: Election of Four (4) Audit & Supervisory Board Members

The proposal was approved and adopted as proposed. Tsutomu Kanno, Joichi

Ueda, Fumio Nishimura and Yukino Enomoto were reelected as Audit &

Supervisory Board Members.

Fumio Nishimura and Yukino Enomoto are Outside Audit & Supervisory Board

Members.

Proposal No. 4: Election of One (1) Substitute Audit & Supervisory Board Member

The proposal was approved and adopted as proposed. Yuichiro Sai was elected as Substitute Audit & Supervisory Board Member.

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[Translation for Reference Purposes Only]

At a Board of Directors Meeting held after the conclusion of the Ordinary General Meeting of Shareholders, Ryoji Kunisawa and Toru Onodera were elected as Representative Directors and assumed office.

At an Audit & Supervisory Board Meeting held after the conclusion of the Ordinary General Meeting of Shareholders, Tsutomu Kanno was elected as Full-Time Audit & Supervisory Board Member and assumed office.

Payment of Dividend

The year-end dividend for the 158th term will be paid out at your nearby branch and local office of Japan Post Bank Co., Ltd. located throughout Japan and post office (bank agent) in accordance with the "Receipt of the Year-end Dividend," which will be sent separately, during the payout period from June 26, 2023 to July 31, 2023.

If you have already designated a specific account to which the dividend should be remitted, please confirm that the dividend is correctly remitted to your account as stated in the "Year-end Dividend Calculation Sheet" and "Reference to the Beneficiary Account for Dividend Transfer," which will be sent separately. If you have instructed us to pay dividends by way of allocation in proportion to the number of shares you hold, please contact your account management institution (securities company, etc.) for your account to which the dividend should be remitted.

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