Certain Common Stock of S&J Corporation are subject to a Lock-Up Agreement Ending on 11-JUN-2024. These Common Stock will be under lockup for 179 days starting from 15-DEC-2023 to 11-JUN-2024.

In connection with this offering and the secondary offering through purchase and acceptance by the underwriters, Nobuo Miwa, the seller and stock lender, Macnica Co., Ltd. and Tsuyoshi Ishikawa, the sellers, BNP Co., Ltd., the Company's shareholder, and the Company's stock acquisition rights. Takayuki Uehara, Yohei Suta, and Koichi Hanzawa have requested the lead manager company to provide an agreement with the lead underwriting company from the date of conclusion of the principal underwriting agreement until June 11, 2024, which is the 180th day after the listing (trading start) date (including the day of trading). During the lock-up period (hereinafter referred to as the "lock-up period"), the Company's common stock may not be sold without the prior written consent of the lead manager (however, the Company's common stock may not be sold by the underwriters for a secondary offering by purchase or underwriting or by an over-allotment). We have agreed that we will not engage in any such activities (excluding the lending of common stock, etc.).