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Kanematsu Corporation announces its policy to reduce cross-shareholdings as stated below.

1. Policy on Reduction of Cross-Shareholdings

Under our medium-term management plan “integration 1.0,” we aim to reduce our cross-shareholdings by approximately 10 billion yen through liquidating listed stocks we own and other means by the end of March 2027, the final fiscal year of the medium-term management plan. Our goal is to bring down the ratio of cross-shareholdings* to our total consolidated capital to 10% or less by the end of March 2027.

*Note: This does not include shares held for innovation investment purposes, and investments in overseas strategic business partners such as PT Cisarua Mountain Dairy Tbk.

2. Background and Purpose of Reduction

Amid growing market interest in cross-shareholdings, we aim to improve our return on capital and capital efficiency by replacing assets and directing the generated cash towards growth investment and shareholder returns in accordance with the capital allocation policy presented in our medium-term management plan “integration 1.0.”

3. Outlook

We regard this reduction of cross-shareholdings as an important measure to enhance shareholder value. To meet the expectations of our shareholders and other stakeholders, we will promote efforts toward reducing cross-shareholdings and strive to ensure disclosure of information concerning progress of cross-shareholdings reduction.

Public Relation Section, Kanematsu Corporation Tel: +81-3-6747-5000  https://www.kanematsu.co.jp/en/inquiry/