°®¶¹´«Ã½

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4. 1. Position Regarding Reduction in Trading Unit (Position to shift to the level of less than 500,000 yen)

°®¶¹´«Ã½. (the Company) understands that a reduction in the trading unit of the Company’s shares is an effective way to promote liquidity in the equity market by encouraging a wider range of investors to participate in trading the Company’s shares.

1. 2. Policy Regarding Reduction in Trading Unit (Position to shift to the level of less than 500,000 yen)

Regarding a potential reduction in the trading unit, the Company will continue to comprehensively monitor a number of factors including the trends in its stock price level, number of shareholders, and shareholder composition, the liquidity of the Company’s shares as well as the costs and benefits, and carefully consider whether a reduction in trading unit is necessary or not, as well as the appropriate timing for reduction if warranted.

Note: This disclosure is in accordance with Rule 409 of the Tokyo Stock Exchange’s Securities Listing Regulations, “Disclosure of Lowering Investment Units.” The Company is subject to this rule because as of March 31, 2024, latest investment units of the Company were valued at a price of 500,000 yen per unit or more.