On June 23, 2022, Yutaka Foods Corporation announced the Voting Results of Proposals resolved at the Ordinary General Meeting of Shareholders held on June 22, 2022. The Company´s Proposals 1 to 5 were approved, and while proposals 6 to 9 were rejected by the Shareholder Vote. Specifically, Proposal No.1 refers to the Appropriation of Surplus: Matters concerning the allocation of dividend property to shareholders and the total amount wherein, the company's common stock is 20 Yen per share and the total amount of dividends is 138,962,080 Yen.

This will be effective from June 23, 2022. In addition, Proposal 2 is about Partial Amendment of Articles of Incorporation: A part of Articles of Incorporation will be changed with the introduction of electronic provision system for documents of general shareholder meeting. Proposal 3 refers to the Appointment of Manabu Kusunoki, Atsushi Hashimoto, Tametsugu Oshige, Yoshinobu Nakamura as directors and while, Proposal 4 is about Appointment of Kenzo Hanai as Audit & Supervisory Board Member.

In addition, Proposal No. 5 refers to the Presentation of Retirement Benefits to Retiring Directors: To reward Mr. Kiyotada Maki, who will retire as director upon the conclusion of this General Meeting of Shareholders, the company would like to present a specific amount of retirement benefits within the range of the amount determined by the company's standards. The timing and method of presentation shall be entrusted to the board of directors.

Subsequently, the following proposals of the shareholders have not been approved at the meeting: Proposal 6 about Appropriation of Surplus: Surplus to distribute dividends to shareholders will be disposed as follows. If the representative director of the company submits a proposal regarding the appropriation of surplus at this General Meeting of Shareholders, this proposal will be proposed in addition – i) Type of dividend is money, ii) Amount after deducting the amount of surplus dividends per share of common stock from 121 yen, pertaining to the proposal on appropriation of surplus, submitted by the company's representative director and approved in this general meeting of shareholders, iii) Amount of dividend shares per share in point (i) above, per share of common stock (total amount of dividends is calculated by multiplying the amount of dividends per share by the total number of shares issued by the company as of March 31, 2022, iv) Dividends from surplus become effective on the date of this General meeting of shareholders. Further, Proposals 7, 8 and 9 about Partial Amendment of Articles of Incorporation: i) A new clause will be added to the Articles of Incorporation so that, in principle, the total amount to be paid to shareholders through dividends of surplus and acquisition of treasury stock shall be equal to net income for the relevant business year, ii) In order to transition from a company with a board of auditors to a company with an audit and supervisory committee, a new article will be added to the Articles of Incorporation, iii) new article will be added to the Articles of Incorporation to disclose the weighted average cost of capital ascertained by the Company along with its calculation basis in reports on corporate governance.