Rules for Handling Shares

Chapter 1 General Provisions

（Purpose）

Article 1: The process for the exercise of shareholder rights concerning ICHIKOH INDUSTRIES, LTD. (hereinafter, the “Company”) and other handling of its shares and the fees pertaining thereto shall be subject to the rules stipulated herein based on Article 12 of the Articles of Incorporation, in addition to the stipulations of the Japan Securities Depository Center, Inc. (hereinafter, "Depository Center"), and the account management institutions such as securities companies, at which shareholders have opened Book－Entry Transfer accounts (hereinafter, "securities companies, etc.").

（Administrator of register of shareholders）

Article 2

The Company's administrator of register of shareholders, administrative handling location, and contact place shall be as follows.

Administrator of register of shareholders	Sumitomo Mitsui Trust Bank Limited 1-4-1, Marunouchi, Chiyoda-ku, Tokyo
Administrative handling location	Sumitomo Mitsui Trust Bank Limited Stock Transfer Agency Business Planning Department 1-4-1, Marunouchi, Chiyoda-ku, Tokyo

Chapter 2 Recording, etc., in register of shareholders

（Recording in register of shareholders）

Article 3

Any modifications to matters recorded in the register of shareholders shall be made in accordance with General Shareholders Notices and other notices from the Depository Center (not including notices stipulated by Article 154 Paragraph 3 [hereinafter, "individual shareholder notice"] of the Act on Book Entry of Corporate Bonds and Shares [hereinafter, the "Book Entry Act"]).
Notwithstanding the preceding paragraph, in the event of new share issues or when otherwise stipulated by law, matters in the register of shareholders shall be recorded or modified without notice from the Depository Center.
The register of shareholders shall be recorded with characters and symbols specified by the Depository Center.

（Notification concerning matters in the register of shareholders）

Article 4: Shareholders shall notify their names and addresses through securities companies, etc., or the Depository Center, as specified by the Depository Center. This shall hold in the event of a change as well.

（Representatives of corporations）

Article 5: When a shareholder is a corporation, the corporate shareholder shall notify one representative through securities companies, etc., or the Depository Center, as specified by the Depository Center. The same shall apply in the event of a change thereto.

（Representatives of joint-ownership shares）

Article 6: Shareholders who are joint owners of shares shall designate one representative, and shall notify the name and address of such representative through securities companies, etc., or the Depository Center, as specified by the Depository Center. The same shall apply in the event of a change thereto.

（Legal representative）

Article 7: The legal representative, such as a parent or guardian, of a shareholder shall notify his/her/its name and address through securities companies, etc., or the Depository Center, as specified by the Depository Center. The same shall apply in the event of a change or cancellation thereto.

（Notification of place that receives notice of shareholders residing overseas, etc.）

Article 8

Shareholders residing overseas or their legal representatives must select a representative residing permanently in Japan or specify a place inside Japan that shall receive notices.
The name and address of the representative residing permanently in Japan or the place inside Japan that shall receive notices stipulated in the preceding paragraph shall be notified through securities companies, etc., or the Depository Center, as specified by the Depository Center. The same shall apply in the event of a change or cancellation thereto.

（Method for confirmation via the Depository Center）

Article 9: When a notification from a shareholder is submitted to the Company through securities companies, etc., or the Depository Center, it shall be considered as having come from the shareholder himself/herself.

（Pledgees of registered shares）

Article 10: The provisions of this chapter shall apply mutatis mutandis to pledges of registered shares.

Chapter 3　Shareholder confirmation

（Shareholder confirmation）

Article 11

When a shareholder (including a shareholder who has given individual shareholder notice) makes an exercise of shareholder rights such as a request (hereinafter, "request, etc."), the shareholder shall attach or submit proof (hereinafter, "proof documents, etc.") that request, etc., came from the actual shareholder. However, this does not apply in the event that it can be confirmed in the Company that the request, etc., is from the actual shareholder.
When a request, etc., comes to the Company from a shareholder through securities companies, etc., or the Depository Center, it shall be considered as having come from the shareholder, and no proof documents, etc., shall be required.
In the event of a request, etc., through a representative, in addition to the procedure in the preceding paragraphs 2, a power of attorney with the shareholder's signature or name and seal affixed shall be attached. The power of attorney must include the name and address of the appointee.
Paragraphs 1 and 2 shall apply mutatis mutandis to representatives.

Chapter 4　Process for Exercising Shareholder Rights

（Request of delivery of documents in writing and Objections）

Article 12: Requests of delivery of documents in writing for reference documents of the General Shareholders’ Meeting etc. that describes the items of measures for electronic delivery (hereinafter "Request for Delivery of Documents in Writing") stipulated in Article 325-5-1 of the Companies Act, and when making objection stipulated in Paragraph 5 of the same Article shall be made in writing. Provided, however, that the Request for Delivery of Documents in Writing made through securities companies, etc. or the Depository Center shall be in accordance with the provisions of the such securities companies, etc. or the Depository Center.

（Process for exercising minority and other shareholders’rights）

Article 13: When exercising minority and other shareholders’ rights as stipulated in Article 147 Paragraph 4 of the Book Entry Act directly to the Company, the shareholder shall do so through documentation with the signature or printed name and seal and by attaching the receipt for individual shareholder notice.

Chapter 5　Purchase of shares constituting less than one unit

（Method of requesting purchase of shares constituting less than one unit）

Article 14: When requesting the Company to purchase shares constituting less than one unit, the shareholder shall do so through securities companies, etc., or the Depository Center, as specified by the Depository Center.

（Determining purchase price）

Article 15

The unit purchase price for purchase requests shall be the closing price in the open market of the Tokyo Stock Exchange on the day that the purchase request arrives at the administrative handling location of the administrator of the register of shareholders as stipulated in Article.
However, if there is no trading or the Exchange is closed on that day, the price shall be the opening price of the next trading.
The purchase price shall be the unit purchase price in the preceding paragraph multiplied by the number of shares in the purchase request.

（Payment of purchase price）

Article 16

The Company shall, except when it stipulates otherwise, pay the purchase price calculated according to the preceding article in the amount obtained after deducting the fee stipulated in Article 19 on the fourth business day from the day following the day on which the purchase price is determined, as specified by the Depository Center. However, when the purchase price is a surplus dividend or a price with a right to a share split, etc., it shall be paid by the reference date.
Purchase requesters can request payment of purchase price by direct deposit to a designated bank account or Japan Post Bank cash payment.

（Movement of purchased shares）

Article 17: Shares constituting less than one unit for which a purchase request has been received shall be transferred to the Company's transfer account on the day the purchase price is paid or payment process is completed.

Chapter 6　Exceptions to special accounts

（Exceptions to special accounts）

Article 18: Handling of special accounts opened by shareholders for identity verification or other reasons shall be handled as specified by the Depository Center and by the account management institutions of the special accounts.

（Fees）

Article 19

Fees concerning purchase requests for shares constituting less than one unit per Article 14 shall be amounts calculated per unit according to the formula below, proportioned to the number of purchased shares constituting less than one unit.

Of total amounts equaling the unit purchase price specified in Article 15 multiplied by the number of shares in one unit

For amounts of 1 million yen or less:	1.150%
For amounts of more than 1 million yen to 5 million yen or less:	0.900%
For amounts of more than 5 million yen to 10 million yen or less:	0.700％
For amounts of more than 10 million yen to 30 million yen or less:	0.575％
For amounts of more than 30 million yen to 50 million yen or less:	0.375％