YASKAWA Electric : Notice of the 105th Annual General Meeting of Shareholders

Note: This document is a translation of a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from this translation.

(Stock Exchange Code 6506)

May 6, 2021

To Shareholders with Voting Rights:

Hiroshi Ogasawara

Representative Director, President

YASKAWA Electric Corporation

2-1 Kurosakishiroishi, Yahatanishi-ku

Kitakyushu, Japan

NOTICE OF

THE 105TH ANNUAL GENERAL MEETING OF SHAREHOLDERS

Dear Shareholders:

We would like to express our appreciation for your continued support and patronage.

You are cordially invited to attend the 105th Annual General Meeting of Shareholders of YASKAWA Electric Corporation (the "Company"). The meeting will be held for the purposes described below.

If you do not attend the meeting, you can exercise your voting rights in writing, or via the Internet, etc. Please review the Reference Documents for the General Meeting of Shareholders that appear later in this document. If exercising your voting rights in writing, please indicate your vote for or against the proposals on the enclosed Voting Rights Exercise Form and return it so that it is received by 5:00 p.m. on Tuesday, May 25, 2021, Japan time. If exercising your voting rights via the Internet, etc., please access the website designated by the Company (https://soukai.mizuho-tb.co.jp/), and exercise your voting rights by 5:00 p.m. on Tuesday, May 25, 2021, Japan time.

• Shareholders are kindly asked to participate in the General Meeting of Shareholders by attending the meeting in person or through the exercise of voting rights in advance.

When you attend the General		When you do not attendthe General Meeting of Shareholders
Meeting of Shareholders
		Exercise of voting rights in writing	Exercise of voting rights via the Internet,
		(by mail)	etc.

- 1 -

1.	Date and Time:	Wednesday, May 26, 2021, at10:00 a.m. Japan time(Doors open at 9:00 a.m.)
2.	Venue:	Head Office of the Company
		2-1 Kurosakishiroishi, Yahatanishi-ku, Kitakyushu, Japan
3.	Meeting Agenda:	Matters to be	1. The Business Report and Consolidated Financial Statements for
		reported:	the Company's 105th Fiscal Year (March 1, 2020 - February 28,
			2021), and results of audits of the Consolidated Financial
			Statements by the Accounting Auditor and the Audit and
			Supervisory Committee
			2. Non-consolidated Financial Statements for the Company's 105th
			Fiscal Year (March 1, 2020 - February 28, 2021)
		Proposals to	Proposal 1:Election of 7 Directors (excluding Directors who are
		be resolved:	Members of Audit and Supervisory Committee)
			Proposal 2:Election of 5 Directors who are Members of Audit and
			Supervisory Committee
			Proposal 3:Partial Additional Approval of the Stock
			Remuneration Plan for Directors (excluding Directors
			who are Members of Audit and Supervisory
			Committee)
			Proposal 4:Partial Additional Approval of the Stock
			Remuneration Plan for Directors who are Members of
			Audit and Supervisory Committee

4.Matters related to(1) If you exercise your voting rights twice, once by the Voting Rights Exercise Form

exercise of Voting	and once via the Internet, etc., we will treat your vote cast via the Internet, etc. as
Rights	the valid exercise of your voting rights, regardless of the time or date of arrival of
	your vote.
	If you exercise your voting rights several times via the Internet, etc., we will treat
	the most recent vote as the valid exercise of your voting rights.
(2)	If you wish to exercise your voting rights by proxy, please appoint a proxy who is
	a shareholder of the Company with voting rights. The proxy will be requested to
	submit a document certifying the status as proxy at the reception desk upon
	arrival at the meeting.

When attending the meeting, please submit the enclosed Voting Rights Exercise Form at the reception desk.

• In the case where the Reference Documents for the General Meeting of Shareholders, the Business Report,Non-consolidated Financial Statements, or Consolidated Financial Statements are revised, the revised versions will be posted on the Company's website.
• Of the documents to be provided with this convocation notice, the following items are posted on the Company's website pursuant to the provisions of laws and regulations and Article 15 of the Company's Articles of Incorporation. The Business Report, Consolidated Financial Statements, andNon-consolidated Financial Statements audited by the Audit and Supervisory Committee include the items listed under (1) through (3) below, which are posted on the Company's website, as well as the documents included in the attachment to the Japanese version of this Notice.
  Consolidated Financial Statements and Non-consolidated Financial Statements audited by the Accounting Auditor include the items listed under (2) and (3) below, which are posted on the Company's website, as well as the documents included in the attachment to the Japanese version of this Notice.
• 1. "Status of Stock Acquisition Rights," "System to Ensure the Appropriateness of Business Operation," "Overview of the Management Status of System to Ensure the Appropriateness of Business Operation," and "Basic Policy on Control of Company" in the Business Report
  2. "Consolidated Statements of Changes in Equity" and "Notes to the Consolidated Financial Statements" in Consolidated Financial Statements
  3. "Statements of Changes in Net Assets" and "Notes to theNon-consolidated Financial Statements" in Non-consolidated Financial Statements

The Company's website (https://www.yaskawa.co.jp/)

- 2 -

Reference Documents for General Meeting of Shareholders

Proposals and References

Proposal 1:Election of 7 Directors (excluding Directors who are Members of Audit and Supervisory Committee)

The terms of office of all 5 Directors (excluding Directors who are Members of Audit and Supervisory Committee; the same shall apply hereinafter in this Proposal) will expire at the conclusion of this General Meeting of Shareholders. In addition, Director Koichi Takamiya passed away and ceased to be a Director on June 4, 2020. This Proposal is to request the election of 7 Directors, including 1 new candidate for Outside Director. The candidates are as below.

The Audit and Supervisory Committee has expressed an opinion to the effect that each candidate is qualified to serve as a Director of the Company, in light of the nomination procedures applied by the Nomination Advisory Committee and the execution of duties and performance results of each candidate in the current fiscal year, among other factors.

The areas of expertise that the Company expects each candidate to bring to the Board of Directors are provided on page 17.

Candidates for Director
No.	Name	Current Positions and Responsibilities, etc.
1	Junji Tsuda	Representative Director, Chairman of the Board
		Reappointment
		Representative Director, President;
		In charge of Human Resources Development;
2	Hiroshi Ogasawara			Reappointment
Regional Manager, China;
		Manager, ICT Strategy Div.
		Representative Director; Senior Managing
		Executive Officer;
3	Shuji Murakami			Reappointment
In charge of CSR; In charge of Administration;
		General Manager, Corporate Planning Div.
		Director; Managing Executive Officer;
		General Manager, Production Management &
4	Yoshikatsu Minami			Reappointment
Operations Div.; General Manager, Export &
		Import Administration Div.
		Director; Managing Executive Officer;
5	Masahiro Ogawa			Reappointment
General Manager, Robotics Div.
		Senior Executive Officer;
6	Yasuhiko Morikawa	In charge of Compliance;
Deputy General Manager, Corporate Planning			New
		Div.; General Manager in Finance, Corporate
		Planning Div.
		Outside Director;			New
7	Yuichiro Kato			Outside
Member of Audit and Supervisory Committee
					Independent

	Candidate for reappointment
Reappointment	New
as Director
	Candidate for Outside
Outside
Independent
	Director

New candidate for Director

Independent Director as stipulated by the Stock Exchange and by the Company

- 3 -

No.

1Junji Tsuda

Date of birthMarch 15, 1951 (Age: 70)	Reappointment

[Past experience, positions and responsibilities]

March 1976	Joined the Company
June 2005	Director; General Manager, Drives Div., Motion
	Control Div.
June 2009	Managing Director; General Manager, Robotics Div.
March 2010	President (Representative Director)
March 2013	Representative Director, Chairman of the Board;
	President
March 2016	Representative Director, Chairman of the Board (to
	present)
April 2017	Chairman, board of directors, the University of
	Kitakyushu (to present)
June 2018	Outside Director, TOTO LTD. (to present)

Number of shares of

the Company held

60,861

Years served as a

Director of the

Company

16 years

(at the conclusion

of this General

Meeting of

Shareholders)

Significant

concurrent positions

Chairman, board of directors, the University of Kitakyushu Outside Director,

TOTO LTD.

Reasons for nominating him as a candidate for Director

As a corporate chief executive, Mr. Junji Tsuda has led the management of the Company by assuming such posts as Representative Director and President. As his rich knowledge and experience are essential for enhancing the Company's corporate value, the Company nominates him as a candidate for Director. Subject to his election as a Director at this General Meeting of Shareholders, he will be reappointed to the post of Representative Director and Chairman of the Board.

- 4 -

	No.		Hiroshi Ogasawara
			Date of birthSeptember 19, 1955 (Age: 65)
	2		Reappointment

[Past experience, positions and responsibilities]

March 1979	Joined the Company
June 2006	Director
March 2007	Director; General Manager, Drives Div.
March 2011	Director; General Manager, Motion Control Div.
June 2012	Corporate Vice President; General Manager, Motion
	Control Div.
June 2013	Director; Managing Executive Officer
March 2014	Director; Managing Executive Officer; General
	Manager, Technology & Development Div.
March 2015	Representative Director; Senior Managing
	Executive Officer; General Manager, Technology &
	Development Div.
March 2016	Representative Director, President; General
	Manager, Technology & Development Div.
March 2017	Representative Director, President;
	In charge of Human Resources Development;
	Manager, Diversity Management Div.
March 2018	Representative Director, President;
	In charge of Human Resources Development;
	Manager, ICT Strategy Div.
July 2020	Representative Director, President;
	In charge of Human Resources Development;
	Regional Manager, China;
	Manager, ICT Strategy Div. (to present)

Number of shares of

the Company held

45,006

Years served as a

Director of the

Company

14 years

(at the conclusion

of this General

Meeting of

Shareholders)

Significant

concurrent positions

―

Mr. Hiroshi Ogasawara was appointed to the post of Representative Director and President in Reasons for nominating2016 and has led the management of the Company. As his rich knowledge and experience are

him as a candidate foressential for enhancing the Company's corporate value, the Company nominates him as a

Directorcandidate for Director. Subject to his election as a Director at this General Meeting ofShareholders, he will be reappointed to the post of Representative Director and President.

- 5 -