Inabata : Notice Regarding Transition to a Company with Audit and Supervisory Committee

To whom it may concern:

	February 28, 2022
Company name:	Inabata & Co., Ltd.
Representative:	Katsutaro Inabata, Director, President

(Stock code: 8098, First Section of the Tokyo Stock Exchange)

Inquiries:	Koichi Noda, General Manager,
	Financial Management Office
	(TEL [phone])

Notice Regarding Transition to a Company with Audit and Supervisory Committee

Inabata & Co., Ltd (the "Company") hereby announces that it has resolved at a meeting of its board of directors held today to make a transition from the current "company with audit & supervisory board" to a "company with audit and supervisory committee," subject to approval at the 161st Ordinary General Meeting of Shareholders to be held in June 2022.

1. Purpose of the transition

The Company regards the enhancement and strengthening of corporate governance as a key management issue and has been making continuous efforts to address this matter. Going forward, the Company has decided to make the transition to a company with audit and supervisory committee in order to further strengthen its supervisory functions as well as to establish a system that enables faster decision-making by the management. After the transition, the board of directors will be composed of a majority of independent outside directors, and the Company aims to further enhance its corporate value by creating a monitoring- type board of directors.

2. Timing of the transition

The Company plans to have the necessary amendments to its Articles of Incorporation approved at the 161st Ordinary General Meeting of Shareholders to be held in June 2022, making the transition to a company with audit and supervisory committee.

3. Other

The Company will announce the details of the amendments to the Articles of Incorporation associated with the transition and officer appointment after the transition once they are determined.