En japan : Notice of Transition to Company with Audit and Supervisory Committee

To All Concerned Parties

April 22, 2022
Company Name:	en Japan Inc.
Tokyo Stock Exchange)
Representative:	Takatsugu Suzuki, President
Contact:	Toshio Hijikata, Administrative Office
Director
(Tel: [phone])

(Code: 4849, Prime Section of the

Notice of Transition to Company with Audit and Supervisory Committee

en Japan Inc. hereby announces that it resolved, at the meeting of its Board of Directors held today, to make a transition from a Company with a Audit and Supervisory Board to a Company with an Audit and Supervisory Committee. The aim is to enhance corporate governance by strengthening the oversight function of the Board of Directors. The resolution is subject to approval at the 22nd Annual Meeting of Shareholders to be held in late June 2022. An outline is as follows.

1． Purpose of the transition to a Company with an Audit and Supervisory Committee

• - To further enhance corporate governance by strengthening the oversight function of the Board of

  Directors and its monitoring capabilities, by including Audit and Supervisory Committee members who are responsible to audit the execution of duties by Directors in the Board of Directors as members with voting rights

• - To expedite business decision-making and further enhance corporate value by enabling the Board of

  Directors to broadly delegate executive authority to Directors

2． Time schedule for the transition to a Company with an Audit and Supervisory Committee

A proposal for an amendment to the Articles of Incorporation and other related proposals necessary for making the transition will be submitted to the 22nd Annual Meeting of Shareholders to be held in late June 2022. Upon approval, en Japan Inc. will become a Company with an Audit and Supervisory Committee as of the date of the meeting.

3． Other matters

In line with the transition to a Company with an Audit and Supervisory Committee, the number of Outside Directors is planned to be changed so that they become the majority of all the Directors. The details of an amendment to the Articles of Incorporation and the appointment of Directors, etc., will be announced as soon as they are decided.

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