Daiken : Notice of the 107th Annual General Meeting of Shareholders

Note: This document has been translated from a part of 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.

Securities Code: 7905 June 5, 2023

To our shareholders:

Masanori Okuda

Representative Director, President

DAIKEN CORPORATION

1-1, Inami, Nanto-shi, Toyama

(Operational Headquarters: 3-2-4,

Nakanoshima, Kita-ku, Osaka)

Notice of the 107th Annual General Meeting of Shareholders

We are pleased to announce the 107th Annual General Meeting of Shareholders of DAIKEN CORPORATION (the "Company"), which will be held as indicated below.

In convening this General Meeting of Shareholders, the Company has taken measures for providing information that constitutes the content of Reference Documents for the General Meeting of Shareholders, etc. (matters for which measures for providing information in electronic format are to be taken) in electronic format, and has posted the information on each of the following websites. Please access either of the websites to view the information.

The Company's website: https://www.daiken.jp/ir/generalmeeting.html (in Japanese)

Website for posted informational materials for the general meeting of shareholders: https://d.sokai.jp/7905/teiji/ (in Japanese)

TSE website (Listed Company Search): https://www2.jpx.co.jp/tseHpFront/JJK010010Action.do?Show=Show (in Japanese)

(Access the TSE website by using the internet address shown above, enter "Daiken Corporation" in "Issue name (company name)" or the Company's securities code "7905" 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].")

If you are unable to attend the Meeting in person, you may exercise your voting rights via the Internet, etc. or in writing (by mail). Please review the attached Reference Documents for General Meeting of Shareholders, and exercise your voting rights by 5:45 p.m. on Thursday, June 22, 2023 (JST).

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Election of Five Directors Who Are Audit and Supervisory Committee Members

Election of One Substitute Director Who Is an Audit and Supervisory Committee Member

Election of Four Directors (Excluding Directors Who Are Audit and Supervisory Committee Members)

Appropriation of Surplus

1. Date and Time: Friday, June 23, 2023, at 10:00 a.m. (JST)

2. Venue:Head Office of the Company

1-1, Inami, Nanto-shi, Toyama

3. Purpose of the Meeting Matters to be reported:

1. The Business Report and the Consolidated Financial Statements for the 107th fiscal year (from April 1, 2022 to March 31, 2023), and the results of audits of the Consolidated Financial Statements by the Auditors and the Audit and Supervisory Committee
2. The Non-consolidated Financial Statements for the 107th fiscal year (from April 1, 2022 to March 31, 2023)

Matters to be resolved:

Proposal No. 1

Proposal No. 2

Proposal No. 3

Proposal No. 4

4. Decisions on Convocation of the Meeting (Information on the Exercise of Voting Rights)

1. If exercising your voting rights in writing (by mail), any proposals for which you do not indicate your approval or disapproval will be treated as an indication of approval.
2. If you exercise your voting rights more than once via the Internet, etc., the last vote will be treated as the valid vote.
3. If you exercise your voting rights both via the Internet, etc., and in writing, we will treat the exercise of voting rights via the Internet, etc. as the valid vote, regardless of the arrival time.

• If attending the meeting, you are kindly requested to present the voting form sent out with this notice at the reception.
• If revisions to the matters for which measures for providing information in electronic format are to be taken arise, a notice of the revisions and the details of the matters before and after the revisions will be posted on the aforementioned Internet websites.
• Paper-baseddocuments stating the matters for which measures for providing information in electronic format are to be taken are sent to shareholders who have requested paper-based document delivery, however those documents do not include the following matters in accordance with the provisions of laws and regulations and Article 15, Paragraph 2 of the Company's Articles of Incorporation.
• 1. Notes to the Consolidated Financial Statements
  2. Notes to the Non-consolidated Financial Statements

Accordingly, the Consolidated Financial Statements and Non-consolidated Financial Statements included in said paper- based documents are a portion of the documents audited by the Financial Auditor in the creation of its audit report.

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Reference Documents for General Meeting of Shareholders

Proposal No. 1 Appropriation of Surplus

The quest to boost corporate value is at the heart of the Company's capital policy, under which we strive for efficient management that prioritizes return on equity (ROE) after considering the cost of capital while striking the optimal balance among enhancing shareholder return, achieving financial stability and executing strategic investment. Furthermore as our policy on shareholder return, while aiming for a performance-linked return of profits, we strive to maintain stable dividend payout and with respect to shareholder return for four years under the Medium-Term Management Plan GP25 3rd Stage (fiscal year ended March 31, 2023 through fiscal year ending March 31, 2026), we aim to enhance performance-linked return of profits and place emphasis on maintaining stable dividends that are not unduly influenced by short-term fluctuations in profit, and our goal for the dividend payout ratio and DOE (dividend on equity) is 35% and 3.5%, respectively.

The Company has given consideration to matters including the business performance of the fiscal year and future business development, and it proposes to pay year-end dividends for the 107th fiscal year as follows:

Year-end dividends

Type of dividend property To be paid in cash.

Allotment of dividend property and their aggregate amount

The Company proposes to pay a dividend of ¥60 per ordinary share of the Company. In this event, the total dividends will be ¥1,564,313,280.

Effective date of dividends of surplus

The effective date of dividends will be Monday, June 26, 2023.

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Proposal No. 2 Election of Four Directors (Excluding Directors Who Are Audit and Supervisory Committee Members)

The terms of office of all four (4) Directors (excluding Directors who are Audit and Supervisory Committee Members; applicable to the rest of this proposal) will expire at the conclusion of this meeting.

Therefore, the Company proposes the election of four (4) Directors.

With respect to this proposal, as a result of its discussions, the Audit and Supervisory Committee has expressed its opinion that all of the candidates for Director are qualified for the position and that there are no special matters to be stated at the General Meeting of Shareholders.

The candidates for Director are as follows:

List of candidates for Director

Candidate					Attendance at
Name		Current position and responsibility in the Company	Board of
No.		Directors
					meetings
1	Masanori Okuda		Reelection	Representative Director, President	15/15
	Male	(100%)
				Representative Director, Senior Managing Executive
			Reelection	Officer
2	Koshin Nomura		Responsible for Domestic Business, New Domestic	10/10
	Male	Business, Information Management, and	(100%)
				Communications, and
				General Manager of the Tokyo Office
				Director, Senior Managing Executive Officer
3	Takeshi Nagata		Reelection	Responsible for Overseas Business and New	10/10
	Male	Overseas Business, and Manager of North America	(100%)
				Business Department
4	Masatoshi Maki		Reelection	Director	9/10
	Male	(90%)

Notes: 1. In addition to the above number of Board of Directors meetings, there was one written resolution that was deemed to have been approved by the Board of Directors pursuant to Article 370 of the Companies Act and Article 21, Paragraph 3 of the Company's Articles of Incorporation.

2. As Koshin Nomura, Takeshi Nagata, and Masatoshi Maki were newly appointed as Directors at the 106th Annual General Meeting of Shareholders held on June 24, 2022, the number of Board of Directors meetings they were eligible to attend is different from that of other Directors.

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Candidate No.	Masanori Okuda (Born on April 25, 1950)
1

Number of the

Company's shares owned

55,060 shares

	Career summary, and position and responsibility in the Company (Significant concurrent
		positions outside the Company)
	Apr. 1974	Joined the Company
	Apr. 2007	Executive Officer
		General Manager of Tobu Juken Sales Control
	Apr. 2008	Senior Executive Officer
		General Manager of Juken Sales Control and General Manager of Tobu
		Sales Control
Reelection	June 2008	Director, Senior Executive Officer
Male	Apr. 2009	Director, Managing Executive Officer
Attendance at Board of		Tokyo Representative and General Manager of Juken Sales Control
Apr. 2010	General Manager of Juken Sales
Directors meetings	June 2011	General Manager of Sales, Manager of New Development Sales, and
15/15 (100%)
	General Manager of the Tokyo Office
	Apr. 2012	Director, Senior Managing Executive Officer
		General Manager of the Tokyo Office
	June 2013	Representative Director, Senior Managing Director, and Senior Managing
		Executive Officer
	Oct. 2013	General Manager of Procurement Innovation and General Manager of the
		Tokyo Office
	Apr. 2014	Representative Director, Representative President and Executive Officer
	June 2018	Representative Director, President (present)

Reasons for nomination as candidate for Director

Masanori Okuda assumed the position of Representative Director, Representative President and Executive Officer in April 2014. He has been clearly promoting the Company's future vision while swiftly making decisions aimed at boosting corporate value. His managerial skills, backed by his broad understanding, are essential for boosting the corporate value of the Company. Therefore, the Company proposes his reelection as Director.

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