On March 28, 2022, Nagoya Railroad Co., Ltd. announced important proposals in order to keep Meitetsu Transportation Co.,Ltd. private, since Nagoya Railroad made a tender offer for the Company's common stock on February 7, 2022, and tender offer was completed on March 24, 2022. Specifically, Nagoya Railroad makes sure that only Nagoya Railroad and Nippon Express Holdings,Inc. will own all of the Company's issued common stock "excluding treasury stock owned by the Company", Nagoya Railroad shall consolidate the Company's common stock based on Article 180 of the Companies Act, and the extraordinary general meeting of shareholders will include a partial amendment of the articles of incorporation to abolish the provision of the number of shares constituting one unit. Nagoya Railroad and Nippon Express Holdings are planning to approve each of the above proposals at this extraordinary shareholder meeting.