Ryoyo Electro : Notice of the 63rd Annual Shareholders’ Meeting

(Translation)	Securities Code: 8068
	April 4, 2023

NOTICE OF THE 63RD ANNUAL SHAREHOLDERS' MEETING

Dear Shareholders,

I would like to announce the 63rd Annual Shareholders' Meeting to be held as described hereunder.

When convening this general meeting of shareholders, the Company takes measures for providing information that constitutes the content of Reference Documents for Annual Shareholders' Meeting, etc. (items for which measures for providing information in electronic format are to be taken) in electronic format, and it posts this information as the "Notice of the 63rd Annual Shareholders' Meeting" on the Company's website. Please access the Company's website by using the internet address shown below to review the information.

Our corporate website:

https://www.ryoyo.co.jp/ir/shareholders-meeting/(in Japanese)https://www.ryoyo.co.jp/en/ir-library/(in English)

In addition to posting items subject to measures for electronic provision on the website listed above, the Company also posts this information on the website of Tokyo Stock Exchange, Inc. (TSE). Access the TSE website by using the internet address shown below, enter "Ryoyo Electro" in "Issue name (company name)" or the Company's securities code "8068" in "Code," and click "Search." Then, click "Basic information" and select "Documents for public inspection/PR information." Under "Filed information available for public inspection," click "Click here for access" under "[Notice of General Shareholders Meeting /Informational Materials for a General Shareholders Meeting]."

TSE website (Listed Company Search):

https://www2.jpx.co.jp/tseHpFront/JJK020010Action.do?Show=Show

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If you are unable to attend this Annual Shareholders' Meeting (the "Meeting") in person, you may exercise your voting rights via the Internet or by writing. Please review the attached Reference Documents for Annual Shareholders' Meeting and exercise your voting rights no later than 5:30 p.m., Tuesday, April 25, 2023 (Japan Standard Time).

[Voting in Writing (by Mail)]

Please return the enclosed Exercise Voting Rights Form with your selections to reach us by 5:30 p.m. on April 25 (Tuesday), 2023.

[Voting via the Internet, etc.]

Please exercise your voting rights by accessing the Website for Exercising Voting Rights designated by us (https://evote.tr.mufg.jp/) (in Japanese only) and inputting your selections, by 5:30 p.m. on April 25 (Tuesday), 2023.

Institutional investors may use the Electronic Voting Platform to exercise voting rights.

Sincerely yours,

Moritaka Nakamura

Representative Director, President & Chief Executive Officer

Ryoyo Electro Corporation

1-12-22 Tsukiji, Chuo-ku, Tokyo

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1. Date and Time:
2. Venue:
3. Agenda:

Matters to be reported:

Matters to be proposed: Proposal No. 1 Proposal No. 2

10:00 a.m. on April 26 (Wednesday), 2023 (the reception desk opens at 9:00 a.m.)

JIJI PRESS HALL (on the 2nd floor of Jiji Press Building) 5-15-8 Ginza, Chuo-ku, Tokyo

1. The business report, the consolidated financial statements, and the audit reports on the consolidated financial statements by the Accounting Auditor and the Audit & Supervisory Board for the 63rd term (from February 1, 2022, to January 31, 2023)
2. The non-consolidated financial statements for the 63rd term (from February 1, 2022, to January 31, 2023)

Appropriation of Surplus

Election of Seven (7) Directors

• When attending the Meeting in person, shareholders are requested to submit the Exercise Voting Rights Form at the reception desk on the above-mentioned date.
• If revisions to the items subject to measures for electronic provision arise, a notice of the revisions and the details of the items before and after the revisions will be posted on the Company's aforementioned Japanese website and the TSE website.
• Please note that no gifts will be offered to the shareholders attending the meeting. Thank you for your understanding.

This is an English translation prepared for the convenience of non-resident shareholders. If there is any discrepancy between the translation and the original Japanese text, the latter shall prevail.

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In order to avoid the risk of infection by COVID-19 at the Annual Shareholders' Meeting, we will take the following measures. We apologize for any inconvenience and ask for your understanding and cooperation.

1. Staff will be wearing masks.
2. Hand sanitizer will be available near the reception desk and the entrance of the venue, so we ask you to please use it upon entering and exiting.
3. At the reception desk, we will set up plastic shields to prevent droplet transmission and take your temperature.
4. Shareholders who appear to be in poor health may be refused admission.
5. We plan to omit detailed explanations of the business report and agenda items for the Annual Shareholders' Meeting with a view to reducing the time required for the meeting in order to prevent infection. We would like to ask you to carefully review in advance the business report and the Reference Documents for Annual Shareholders' Meeting as stated in this notice.

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Reference Documents for Annual Shareholders' Meeting

Proposal No. 1: Appropriation of Surplus

We propose that the surplus be appropriated in the following manner:

Matters related to year-end dividend

In accordance with the "Basic policy regarding the distribution of profit," we propose that the year-end dividend for the 63rd term be as follows:

Type of dividend property Allotment of dividend property and its aggregate amount

Effective date of dividend distribution

Cash

¥60 per common share of the Company Total dividends: ¥1,211,487,840

As we paid an interim dividend of ¥50 per share, the annual dividend for the fiscal year under review will be ¥110 per share.

April 27, 2023

Basic policy regarding the distribution of profit

While maintaining a stable management base and working to expand business in the future, the Company returns profit to its shareholders, taking into account the financial position, business environment, etc., and the Company's basic policy is to pay stable dividends, targeting a dividend on equity ratio (DOE) of 5%.

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