On April 1, 2019, Sanyo Shokai Ltd. announced the Voting Results according to the Extraordinary General Meeting held on March 28, 2019. Shareholders rejected Oasis Management Company Ltd.´ Proposal No. 8 about Introduction of stock compensation for directors.

The current director remuneration, monetary receivables will be paid to each director excluding outside directors under the following conditions: (i) the monetary claims shall be used for in-kind contributions to third-party allotment related to transfer-restricted share compensation, (ii) the total amount of monetary claims to be paid to the target director shall be 100 million yen or less per year, (iii) the transfer restriction period for restricted shares shall be the period specified by the Board of Directors between 3 and 20 years from the date of the allotment, and (iv) the specific payment period, number of treasury stock to be disposed of, allocation, etc. will be decided by the Board of Directors. Proposal No.

9 Disposal "increased dividend" of surplus Matters concerning year-end dividend: 80 yen per share of our common stock.