Nifco : Supplementary explanation concerning Proposal No. 2 “Partial changes of the Articles of Incorporation” in “NOTICE OF THE 69th ANNUAL GENERAL MEETING OF SHAREHOLDERS”

	June 11, 2021
To whom it may concern
Company Name	Nifco Inc.
H e a d O f f i c e	Hikarinooka 5-3, Yokosuka City, Kanagawa Prefecture
Co m p an y Co d e	7988（1st Board TSE）
R e p . D i r e c t o r	President & Representative Director,
	Masaharu Shibao
Contact Person	Director & Senior Executive Managing Officer
	Toshiki Yauchi
	(TEL [phone])

Supplementary explanation concerning Proposal No. 2 "Partial changes of the Articles of Incorporation" in "NOTICE OF THE 69th ANNUAL GENERAL MEETING OF SHAREHOLDERS"

In Proposal No. 2"Partial changes of the Articles of Incorporation", Article 36 of the Articles of Incorporation states that dividends of surplus, etc. can be determined by a resolution of the Board of Directors.

The purpose of this is to pay dividends of surplus without taking a resolution of the Annual General Meeting of Shareholders even if it is difficult to hold the Annual General Meeting of Shareholders in a timely manner due to unforeseen circumstances such as COVID-19.

Even after this change to the Articles of Incorporation takes effect, we will continue to propose dividends of surplus to the Annual General Meeting of Shareholders.

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