Fuji Oil : Matters Concerning Controlling Shareholder, etc.

Note：This document has been translated from 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.

To whom it may concern:

	June 28, 2024
Company Name	FUJI OIL HOLDINGS INC.
Representative	Mikio Sakai, President & CEO
	(Code:2607 TSE Prime Market)
Contact Us	Takekuni Takamura, General Manager,
	Consolidation Accounting Group
	(Tel:[phone]）

Matters Concerning Controlling Shareholder, etc.

1. Trade name, etc. of parent company, controlling shareholder (excluding parent company), other affiliated company or parent of other affiliated company

					(As of March 31, 2024)
		Ratio of voting rights held (%)	Financial instruments
Name	Attribute	Voting rights	Voting rights		exchange, etc. on which
subject to	Total	the issued shares, etc. are
		directly held
		aggregation		listed
ITOCHU FOOD	Other affiliated	42.6	―	42.6	―
INVESTMENT, LLC	company
	Parent of				Tokyo Stock Exchange,
ITOCHU Corporation	other affiliated	1.3	42.6	43.9
Prime Market
	company

2. Name of the parent company, etc. which is recognized as having the greatest impact on the Company and the reason for such recognition

Name	Reason
ITOCHU	Because ITOCHU Corporation is the parent company of ITOCHU FOOD INVESTMENT, LLC
and ITOCHU MACHINE-TECHNOS CORPORATION and holds the largest number of voting
Corporation
rights including indirectly held.

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3. Positioning of the Company relative to the parent company and within the corporate group and other relationships between the parent company, etc.

1. Positioning of the Company relative to the parent company and within the corporate group ITOCHU FOOD INVESTMENT, LLC is the largest shareholder and "other affiliated company" that

holds 42.6% of the Company's voting rights. ITOCHU Corporation is the parent company of ITOCHU FOOD INVESTMENT, LLC, and "parent of other affiliated company" that holds 43.9% of the Company's voting rights (including indirectly held percentage 42.6%).

1. Business restrictions and merits of being associated with the corporate group of the parent company, etc.
   We are associated with the corporate group of ITOCHU Corporation but we are not subject to any business restrictions.
2. Status of independence from the parent company, etc.

Our business operations are not subject to any business restrictions by ITOCHU Corporation and we conduct business activities independently. Furthermore, prices and other transaction conditions are determined on a case-by-case basis and in the same matter as other transactions. Personal relations have no impact on independent management decisions and we secure a certain level of independence.

1. Status of concurrent position of officers

Job title	Name	Job title of parent	Reasons of Appointment
company etc
			Mr. Yoshihiro Tachikawa joined ITOCHU Corporation and after
			leaving the company in 1998, he was hired at an overseas feed
			manufacturer. He rejoined ITOCHU Corporation in 2003 and was
		Chief Operating	later assigned to the role of President and CEO of a functional
		feed manufacturing and sales company, during which time he was
		Officer,
		involved in the business transfer of FUJI OIL CO., LTD.'s enzyme-
Outside	Yoshihiro	Provisions
treated Copra meal. He has been active in a number of operations
Director	Tachikawa	Division,
in Japan and overseas as a manager since he became Chief
		ITOCHU
		Operating Officer of Provisions Division in April 2023.
		Corporation
		We expect that he will contribute to the enhancement of the
			Company's corporate value by providing suggestions and
			proposals in material procurement, business management and
			other fields.

(Note) Of the Company's eight directors and three directors who also serve as audit and supervisory committee members, only one is concurrently serving as an officer of the parent company, etc.

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4. Matters concerning transactions with controlling shareholder, etc.

(April 1, 2023 to March 31, 2024)

							Transaction		Term end
	Company		Capital	Business	Details of	Transaction
Association		Location					amount	Item	balance
	name		(million yen)	operations	relationship	details
							(million yen)		(million yen)
Parent of					Raw materials	Product sales	9,334	Accounts	742
				General		receivable
other	ITOCHU	Kita-ku,			purchase,
affiliated	Corporation	Osaka	253,448	trading	sales of our
Raw material		Accounts
	company
company				products, etc.		40,237		951
				purchase		payable

(Note) 1. The above transaction details are for transactions between our subsidiary (FUJI OIL CO., LTD.) and ITOCHU Corporation that is a related party (parent of other affiliated company).

2. Transaction conditions and policy for determining transaction conditions

We indicate our desired price based on consideration of market price, etc. and negotiate pricing to determine a final price. Typically, pricing is in line with market prices.

End

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