On May 13, 2024, Mitsui Mining and Smelting Co., Ltd., announced in its press release that it had received a shareholder proposal from Hidesho Co., Ltd. for its 99th Annual General Meeting of Shareholders. The proposals are as follows, i) Dismissal of Representative Director: Dismissal of Mr. Takeshi Nou as representative director, ii) Dividends on shares: Setting the annual dividend at 550 Yen per share. The company has opposed the proposals stating, i) Mr. Takeshi Nou has a wealth of experience over many years, mainly in the electronic materials and functional materials businesses, and is deeply familiar with the Company's businesses, including current and expected growth areas and is qualified as a representative director.

The Company defines the personnel requirements for the management team through discussions at the Nomination Review Committee, which is chaired by an external director, and Mr. Nou also fulfils these personnel requirements, ii) The Company's basic policy is to distribute profits appropriately while retaining the necessary internal reserves for future business development and strengthening the management structure. Under this policy, the Company believes that, as the environment surrounding corporate management is becoming increasingly diverse and complex, it is necessary to actively invest in resources and strengthen the management base make its financial base stronger.