KITO : Partial Amendments to the Articles of Incorporation

News Release (6409 TSE)

	May 24, 2022
Company	KITO CORPORATION
President and CEO	Yoshio Kito
Identification Code	6409 (TSE Prime)
Contact	Shigeki Osozawa
	Managing Director
	Chief Financial Officer
	TEL: [phone]

Partial Amendments to the Articles of Incorporation

KITO CORPORATION has resolved at the Board of Directors meeting held today to submit the "Partial Amendment to the Articles of Incorporation" to the General Meeting of Shareholders scheduled to be held on June 24, 2022

1. Reason for the proposal

1. The Company proposes to make additions to Article 2 (Purpose) of the current Articles of Incorporation to catch up with the expansion and diversification of its business domains, and to renumber articles concerned accordingly.
2. The amended provisions stipulated in the proviso of Article 1 of the supplementary provisions of the "Act Partially Amending the Companies Act" (Act No. 70 of 2019) will be enforced on September 1, 2022. Accordingly, in order to prepare for the introduction of the system for electronic provision of materials for general meetings of shareholders, the Articles of Incorporation of the Company shall be amended as follows.
3. 1. The proposed Article 17, Paragraph 1 provides that information contained in the reference materials for the general meeting of shareholders, etc. shall be provided electronically.
   2. The purpose of the proposed Article 17, Paragraph 2 is to establish a provision to limit the scope of matters to be included in the paper copy to be sent to shareholders who have requested it.
   3. The provisions related to the Disclosure via the Internet of Reference Materials, etc. for the Shareholders Meeting and the Deemed Provision (Article 17 of the current Articles of Incorporation) will become unnecessary and will therefore be deleted.
   4. In line with the above establishment and deletion of the provisions, supplementary provisions related to the effective date, etc. shall be established.

1. Details of Amendments
   The details of the amendments are as follows.
2. Change Schedule
   The date of the General Meeting of Shareholders for the amendment of the Articles of Incorporation is scheduled to be Friday, June 24, 2022.
   The effective date of the amendment to the Articles of Incorporation is scheduled to be Friday, June 24, 2022.

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News Release (6409 TSE)

Comparison of the current Articles of Incorporation and proposed amendments

		(Amended parts are underlined.)
Current Articles of Incorporation		Proposed Amendments
(Purpose)		(Purpose)
Article 2 The Company is organized for the purpose of		Article 2 The Company is organized for the
engaging in the following business activities:	purpose of engaging in the following business
(i) Designing, manufacturing, construction, sales and	activities:
repair services of material handling machine and		(i) Designing, manufacturing, construction, sales and
equipment and of buildings and facilities ancillary		repair services of material handling machine and
thereto;		equipment and of buildings and facilities ancillary
(ii) Designing, manufacturing, construction, sales		thereto;
and repair services of machine and equipment which		(ii) Designing, manufacturing, construction, sales
are used for the storage of goods, housing of goods		and repair services of machine and equipment
and moving goods in and out of warehouses, and of		which are used for the storage of goods, housing
buildings and facilities ancillary thereto; and		of goods and moving goods in and out of
		warehouses, and of buildings and facilities
		ancillary thereto;
		(iii) Designing, development, manufacturing, sales
(Newly established)		and repair services of safety equipment, safety
	belts, personal fall-arrest systems, and other
		related equipment ancillary thereto; and
(iii)(Text omitted)		(iv) (Unchanged)
(Disclosure via the Internet of Reference Materials,
etc. for the Shareholders Meeting and the Deemed
Provision)
Article 17 When convening the shareholders
meeting, the Company may deem that it has
provided shareholders with necessary information		(Deleted)
that should be stated or presented in reference
materials for the shareholders meeting, business
reports, financial statements or consolidated
financial statements, when it has made a disclosure
via the internet pursuant to the provisions of the
Ordinance of the Ministry of Justice.
		(Measures for Electronic Provision, etc.)
		Article 17 When convening the shareholders
	meeting, the Company may provide information
	contained in the reference materials for the
	shareholders meeting, etc. electronically.
(Newly established)		(2) Among the matters to be provided electronically,
	the Company may choose not to include all or part of
	the matters stipulated in the Ordinance of the
	Ministry of Justice in the paper copy to be sent to
	shareholders who have requested it by the record
	date for voting rights.

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News Release (6409 TSE)

Current Articles of Incorporation	Proposed Amendments
Article 18. ~ Article 43. (Text omitted)	Article 18. ~ Article 43. (Unchanged)
	(Supplementary Provisions)
	1. Amendment to Article 17 of the Articles of
	Incorporation shall take effect on September 1, 2022
	(hereinafter the "Effective Date"), which is the date
	of enforcement of the amended provisions as
	stipulated in the proviso to Article 1 of the
	Supplementary Provisions of the Act Partially
	Amending the Companies Act (Act No. 70 of 2019).
(Newly established)	2. Notwithstanding the provisions of the preceding
paragraph, Article 17 of the current Articles of
	Incorporation shall remain in force with respect to a
	shareholders meeting to be held on a date within six
	(6) months from the Effective Date.
	3. These supplementary provisions shall be deleted
	after the lapse of six (6) months from the Effective
	Date or the lapse of three (3) months from the date of
	the shareholders meeting set forth in the preceding
	paragraph, whichever is later.

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