On January 15, 2024, Nitto Co., Ltd., started its activist campaign against Ikuyo Co., Ltd., by submitting a request to convene an Extraordinary General Meeting of Shareholders for the following proposal, (i) Election of 4 Directors: Appointment of Mr. Sun Feng, Mr. Kaito Rai, Mr. Tomohiro Noda, Ms. Risa Takahashi as directors to launch the new EV business and strengthen the management structure for the common interests of shareholders.