On May 12, 2023, Metalart Corporation announced in its press release that it has received a letter from Koichi Matsuzawa stating that it intends to make proposals at the 2023 Ordinary General Meeting of Shareholders to be held on June 27, 2023, the proposals submitted were as follow. Appropriation of surplus: The year-end dividend for the fiscal year ending March 31, 2023 will be 100 yen per share. (Together with the interim dividend already paid, the annual dividend per share will be 130 yen).

Regarding this shareholder proposal, the Company objects for these reasons: Considering business structural reforms and carbon neutrality measures for the electrification of automobiles, it is necessary to build a solid financial base. On the other hand, the Shareholder Proposal, which proposes an annual dividend of 130 yen, did not take into account these efforts to ensure sustainability and is not consistent with the Company's basic shareholder return policy. The Board of Directors plans to submit a proposal to pay a year-end dividend of 60 yen per share to the 92nd Ordinary General Meeting of Shareholders.