On March 8, 2022, Yamau Holdings Co., Ltd. announced the matters for which the General Meeting of Shareholders is to be held. Principally about dismissal of Tetsuya Arita, President, CEO & Director at the Company, from Yusuke Hiramatsu, a shareholder who has held 3/100 or more of the voting rights of all shareholders of the Company for 6 months. The reasons for Convocation are as follows: Mr. Tetsuya Arita violated a shareholder proposal "election of one director" from a shareholder "Yusuke Hiramatsu" at Company's extraordinary general meeting of shareholders held on December 25, 2020, and deprived shareholders of their rights.

At that time, Mr. Tetsuya Arita, while holding an important position as Executive Vice President, made an error in the schedule for holding an extraordinary general meeting of shareholders, and it was an extraordinary general meeting of shareholders in which the right to make shareholder proposals could not be exercised. Yusuke Hiramatsu, through Mr. Kiyotaka Kurachi, who was an executive officer of the Company, repeatedly pointed out errors in the schedule and urged him to reconsider the schedule, but he did not change his mind and forced to hold the event. He also stated that Tetsuya Arita has no idea about securing the rights of shareholders, the interests of shareholders, fairness, and transparency, which are required as a manager of a listed company.

Therefore, it is necessary to convene an extraordinary general meeting of shareholders to immediately dismiss Tetsuya Arita in order to restore an appropriate corporate governance system to the Company as soon as possible.