General Meeting of Shareholders

Report of the 40th Ordinary General Meeting of Shareholders

  • 1.Date

    Thursday, March 18, 2021

  • 2.Place
    Heian Banquet Hall, 4th Floor at Okura Act City Hotel Hamamatsu
  • 3.Time
    1:00 p.m.–2:06 p.m. (66 minutes)
  • 4.Number of shareholders attending in person
    15
  • 5. Matters reported
    1. The Business Report, Consolidated Financial Statements and audit report on Consolidated Financial Statements by the Accounting Auditor and the Audit & Supervisory Board for the Company's 40th Fiscal Year
    2. Non-Consolidated Financial Statements for the Company's 40th Fiscal Year
  • 6.Proposals resolved
    Proposal No. 1: Appropriation of Surplus
    Proposal No. 2: Reduction of capital reserve
    Proposal No. 3: Election of Seven Directors

All proposals to be resolved were approved and passed as proposed.

Proceedings of the Meeting

General Meeting of Shareholders

At the scheduled time of 1:00 p.m., the Ordinary General Meeting of Shareholders was opened by President Kohei Tanabe, who chaired the meeting. In the first half of the meeting, an Audit & Supervisory Board Member delivered the Auditor’s Report, followed by the matters to be reported, mainly consisting of the FY2020 financial results and the Mid-term Plan that commences in FY2021. In the second half about proposals to be resolved, after a report on the status of voting rights exercised, each of the proposals were deliberated, and all proposals were approved and passed as proposed. After the business report, during the deliberation of the proposals, a total of three shareholders expressed their opinions and posed questions. We will leverage these inputs to improve our future business operations.

In light of the COVID-19 situation, we put top priority on the health and safety of all stakeholders, and held this General Meeting of Shareholders in a hybrid of real and virtual for the first time. While minimizing physical attendance at the venue, we streamed the meeting live to give more shareholders the opportunity to attend. With the extension of the state of emergency declaration in Tokyo and three neighboring prefectures, Directors and Audit & Supervisory Board Members residing outside Shizuoka Prefecture and overseas attended the meeting remotely. We strived to secure two-way communication between remote attendees and shareholders however, by introducing not only officers physically attending, but also the remote attendees by showing them live on the screen.

The spread of COVID-19 has prompted progress in the digital transformation of business activities, a trend that is expected to accelerate further in the future. We will strive to strengthen dialogue with shareholders through the promotion of digital transformation in our shareholder relations (SR) activities as well.

*To protect our shareholders’ privacy, the Q&A section has been excluded from this video.

Presentation, THE 40th ORDINARY GENERAL MEETING OF SHAREHOLDERS

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