Investor Presentaiton

Reason for Selection as Outside Director Candidate Who Is an Audit and Supervisory Committee Member and Expected Roles Matters Concerning Independence Mr. Takashi Kinoshita has served in various key positions in the National Police Agency, equipped with the judgment and insight required for auditing the execution of business operations. We believe that he is qualified for the position of director as a member of the Audit and Supervisory Committee based on his experience as an outside corporate auditor of the Company, where he worked to strengthen governance by auditing the overall execution of business operations. If he is elected, we believe that he will utilize his abundant insight and knowledge gained thus far as well as his auditing experience at the Company to carry out audits and supervision of the overall execution of business operations as Audit and Supervisory Committee Member. Mr. Takashi Kinoshita satisfies the "Criteria for Independence of Outside Officers" established by the Company, and if his appointment is approved, the Company intends to designate him as an independent officer as stipulated by the listed stock exchanges. Although he has worked at the National Police Agency and there are transactions between the police-related agencies and the Company, payments from each agency to the Company in the three (3) immediately preceding fiscal years accounted for less than 2% of the Company's annual consolidated net sales. No. of Candidate Name (Date of Birth) Brief Personal History, Positions and Responsibilities, and Important Concurrent Positions 2 New Masaki Ogata (February 16, 1952) April 1974 Entered Japanese National Railways April 1987 Entered the Company June 1998 General Manager of Transport Safety Department, Railway Business Headquarters June 2000 General Manager of Corporate Communications Department June 2002 Director, General Manager of Transport & Rolling Stock Department, Railway Business Headquarters June 2004 Managing Director, Deputy Director General of Railway Business Headquarters June 2006 Managing Director, Director General of IT Business Headquarters, Deputy Director General of Railway Business Headquarters July 2007 Managing Director, Director General of IT & Suica Business Headquarters, Deputy Director General of Railway Business 28

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