Certain Common Stock of Choei Inc. are subject to a Lock-Up Agreement Ending on 21-JUN-2022. These Common Stock will be under lockup for 179 days starting from 24-DEC-2021 to 21-JUN-2022.

Details:
Regarding the sale through this offer and the underwriter's purchase transaction, Osamu Nagata, a stock lender and seller, Kumiko Nagata, a shareholder, OSA Field Co., Ltd., Eishin Nagata, Mitsunobu Yamamoto, Wataru Funai, Naoki Terada, Naoki Tanaka , Kunihiro Itoi, Naomi Matsumoto, Kazuhiro Nakazawa, Kazuya Take, Masahiro Okuno, Reiko Kitamura, Setsuko Hayashi, Matsuyoshi Co., Ltd., Hiroshi Nagamura, Akemi Miyabayashi, Akiyo Matsumoto, Takao Komiyama, Eiji Yoshida, Riki Koyama, Yamakawa Yoshimi, Yoshiyuki Fujioka, Tsuneo Ueno, Soho Sugimura, Kazuyo Iwasaki, Daitoyo Sangyo Co., Ltd., Tatsuo Nakaji, Masaaki Nagashima, Yoshio Nagashima, Tsunemi Makino, Naonari Sunada, Shin Tanaka, Hyakuyo Suzuki, Yoshikazu Tagawa and Mitsugu Hirano Stock acquisition rights holders Kosuke Murai, Masaki Ito, Kyoko Nakanishi, Kazumi Murata, Fumitaka Tsuji, Katsuyuki Shirakawa, Toshiyuki Nakamura, Kei Inoue, Sayuri Hiraide, Katsuyuki Hayashi, Mitsunobu Kamimura, Nobuo Miura, Takako Kurita, Nitta Hideki, Koji Yoshimi, Seimon Miyamoto, Yuzo Higuchi and 87 others agreed not to issue, transfer or sell the Company's common stock (including potential shares) held by ourselves on the date of the conclusion of the underwriting contract and the securities that have the right to acquire the Company's common stock, starting on the day of the conclusion of the original underwriting contract to June 21, 2022(start of trading) (hereinafter referred to as the "lockup period"), which is the 180th day from the listing date, without prior written consent of the lead managing underwriter.