On May 10, 2024, The Hachijuni Bank, Ltd. announced in its press release that it had decided to oppose the shareholder proposals by LIM Advisors Limited. The proposals are as follows, (i) Partial Amendment to Articles of Incorporation (conversion to a domestic standard bank), (ii) Partial Amendment to Articles of Incorporation (Sale of cross-shareholdings), (iii) Partial Amendment to Articles of Incorporation (Study of purpose of cross-shareholdings and disclosure of results), (iv) Partial Amendment to Articles of Incorporation (Disclosure of individual remuneration for directors), (v) Disposal of surplus, (vi) Acquisition of Treasury Stock. The company opposes these proposals for the following reasons, (i) The company believes being an internationally active bank has its advantages, and that it won´t lead to a decline in PBR.

If the proposal were to be implemented, it would be difficult to provide support for customers' overseas business, which would stagnate the Bank's efforts to increase its corporate value, (ii) The company has established a policy to reduce cross-shareholdings and is in the process of making concrete reductions, and believes that it is inappropriate to stipulate this in the articles of incorporation, (iii) The Board of Directors has a policy of verifying the rationality of holdings for each individual stock every year and disclosing the details of the verification, so it is not necessary to stipulate this in the Articles of Incorporation, (iv) The company discloses its policy for determining director remuneration and payment results recognizing this as one of the important matters of corporate governance, so it is not necessary to stipulate this in the Articles of Incorporation, (v) The company believes it is based on a short-term perspective and it will not enhance its corporate value over the medium to long term, (vi) The company determines it is not appropriate as it may cause financial constraints.