Strategic Capital Announces Withdrawal of Shareholder Proposals for Sanyo Denki Co., Ltd.

Strategic Capital Co., Ltd. has entered into a discretionary investment contract with INTERTRUST TRUSTEES (CAYMAN) LIMITED SOLELY IN ITS CAPACITY AS TRUSTEE OF JAPAN-UP (the "Fund"). The Fund and the company (collectively the "Proposing Shareholders") are shareholders of Sanyo Denki Co., Ltd. (the "Company").

The Proposing Shareholders had submitted the following shareholder proposals to the Company for its upcoming Annual General Meeting of Shareholders scheduled for June. However, since April 15, 2026, when the shareholder proposal documents were sent, there have been certain changes in market evaluation regarding the Company's shares. Additionally, based on explanations provided at the Company's earnings briefing, the Proposing Shareholders have concluded that voluntary improvements regarding the issues faced by the Company can be expected. Consequently, they have decided to withdraw all previously submitted shareholder proposals.

[Key Withdrawn Proposals] - Election of one director (Mr. Tsuyoshi Maruki) - Shortening the term of office for directors from two years to one year - Establishment of a nominating committee (already withdrawn as it was announced) - Review of capital policies and disclosure of shareholder return policies - Stock split (5 shares for every 1 share) - Change in total number of authorized shares (from 150 million to 750 million shares)