OKUMURA : NOTICE OF THE 82ND ANNUAL GENERAL MEETING OF SHAREHOLDERS

Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

(Securities Code 1833)

June 5, 2019

To Shareholders with Voting Rights:

Takanori Okumura

President and Representative Director

OKUMURA CORPORATION

2-2-2,Matsuzaki-cho,Abeno-ku,

Osaka-shi, Osaka

NOTICE OF

THE 82ND ANNUAL GENERAL MEETING OF SHAREHOLDERS

We would like to express our appreciation for your continued support and patronage.

You are cordially invited to attend the 82nd Annual General Meeting of Shareholders of OKUMURA CORPORATION (the "Company"). The meeting will be held for the purposes as described below.

If you are unable to attend the meeting, you can exercise your voting rights in writing or via the Internet, etc. Please review the attached Reference Documents for the General Meeting of Shareholders, and exercise your voting rights in accordance with the guide below.

1. Date and Time
   Thursday, June 27, 2019 at 10:00 a.m. (Japan time)
2. Place
   Head Office of the Company, located at
   2-2-2,Matsuzaki-cho,Abeno-ku,Osaka-shi, Osaka
3. Meeting Agenda
   Matters to be reported: 1. The Business Report and the Consolidated Financial Statements for the

82nd Fiscal Year (April 1, 2018 - March 31, 2019) and results of audits of the Consolidated Financial Statements by the Accounting Auditor and the Audit and Supervisory Committee

2. Non-consolidated Financial Statements for the 82nd Fiscal Year (April 1, 2018 - March 31, 2019)

Proposals to be resolved: Proposal 1: Appropriation of Surplus

Proposal 2: Partial Amendments to the Articles of Incorporation

Proposal 3: Election of Six (6) Directors (Excluding Directors Who Are

Audit and Supervisory Committee Members)

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Guide to Exercising Voting Rights

When Attending the General Meeting of Shareholders

Date and time of the General Meeting of Shareholders

Thursday, June 27, 2019, at 10:00 a.m. (Japan time)

• When attending the meeting, please submit the enclosed Voting Rights Exercise Form at the reception desk.
• To save electricity, the venue will be moderately air conditioned and the Cool Biz (light clothing) dress code will be observed at the meeting. Shareholders who attend the meeting are encouraged to wear light clothing.

If You Are Unable to Attend the Meeting

• Exercising Voting Rights in Writing

Deadline for Exercise

To be received by no later than 5:15 p.m. Wednesday, June 26, 2019 (Japan time)

• Please indicate your vote for or against the proposals on the enclosed Voting Rights Exercise Form, and return it so that it is received by the deadline for exercise. Furthermore, if there is no indication of a vote for or against any proposal, it shall be treated as an indication of consent for the proposal.

• Exercising Voting Rights via the Internet, etc.

Deadline for Exercise

Wednesday, June 26, 2019 at 5:15 p.m. (Japan time)

• Please access the voting rights exercise website, and enter your vote for or against the proposals by following the guidance onscreen.
  Voting rights exercise website: https://www.web54.net Please refer to the next page for details.
• Shareholders may use the voting rights exercise website for smartphones. Please refer to the enclosed leaflet for details.

• The following items are posted on the Company's website in accordance with the provisions of laws and regulations as well as Article 30 of the Company's Articles of Incorporation, and therefore are not provided in the attached documents to this Notice.
• 1. Notes to Consolidated Financial Statements
  2. Notes to Non-consolidated Financial Statements

Furthermore, the above documents constitute part of the Consolidated Financial Statements and Non-consolidated Financial Statements audited by the Accounting Auditor when preparing the accounting audit report, and also constitute part of the Consolidated Financial Statements and Non-consolidated Financial Statements audited by the Audit and Supervisory Committee when preparing the audit report.

• Should the Reference Documents for the General Meeting of Shareholders, the Business Report, the Non-consolidated Financial Statements or the Consolidated Financial Statements require revisions, the revised versions will be posted on the

Company's website.

The Company's website: http://www.okumuragumi.co.jp

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Guide to Exercising Voting Rights via the Internet, etc.

If exercising voting rights via the Internet, please review the following items before exercising your voting rights.

• When exercising voting rights via the Internet, please access the voting rights exercise website via a personal computer, smartphone, or mobile phone, use the voting rights exercise code and password on the enclosed Voting Rights Exercise Form, and register your vote for or against the proposals by following the guidance onscreen.
  Voting rights exercise website: https://www.web54.net
• Voting rights exercised via the Internet will be accepted until 5:15 p.m. Wednesday, June 26, 2019 (Japan time).
  Please allow ample time to exercise your voting rights to avoid missing the deadline for exercise.
• Connection fees to providers and telecommunications fees (telephone fees, etc.) to telecommunications carriers arising from using the voting rights exercise website will be borne by the shareholder.
• If voting rights are exercised both in writing and via the Internet, the vote received via the Internet will be treated as the valid exercise of voting rights. In addition, if voting rights are exercised multiple times via the Internet, the final vote exercised will be treated as the valid exercise of voting rights.

			For inquiries concerning the exercise of voting rights via the Internet,
	Inquiries concerning the
		please contact:
	exercise of voting rights via		Sumitomo Mitsui Trust Bank
	the Internet		Stock Transfer Agency Website, Dedicated Hotline
			0120-652-031 [Business hours: 9:00 a.m. - 9:00 p.m.]

For Institutional Investors

Institutional investors may exercise voting rights via electromagnetic means from the "Electronic Voting System Platform" operated by ICJ, Inc.

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Reference Documents for the General Meeting of Shareholders

Proposals and References

Proposal 1: Appropriation of Surplus

The Company recognizes the distribution of profits as one of the most important managerial issues. For the fiscal year under review, the Company proposes the year-end divided and the appropriation of surplus as shown below in line with its basic policy to maintain a stable dividend of ¥45 per share or an amount according to the Company's business performance, namely an amount equivalent to the payout ratio (non-consolidated) of 50%, whichever is higher, based on the overall consideration of the Company's financial situation and other factors.

1. Year-end dividend

1. Type of property for dividend Cash
2. Allotment of property for dividends to shareholders and total amount thereof ¥153 per share of the Company's common stock
   Total amount: ¥5,941,051,812
3. Effective date of distribution of surplus

June 28, 2019

2. Appropriation of surplus
(1)	Item and amount of surplus that will increase
	General reserve	¥5,900,000,000
(2)	Item and amount of surplus that will decrease
	Retained earnings brought forward	¥5,900,000,000

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Proposal 2: Partial Amendments to the Articles of Incorporation

1. Reasons for the amendments
2. 1. To add new businesses to the purpose of the Company in order to prepare for future business development.
   2. To facilitate distribution of profits to shareholders by enabling the Board of Directors to resolve to pay interim dividends pursuant to the provision of Article 454, Paragraph 5 of the Companies Act.
3. Details of the amendments

The details of the amendments are as follows.

		(Proposed amendments are underlined.)
	Current		Proposed amendment
Chapter I. General Provisions	Chapter I. General Provisions
Article 2. The purpose of the Company shall be to	Article 2. The purpose of the Company shall be to
engage in the following businesses:	engage in the following businesses:
1. to 11. (Omitted)	1. to 11. (Unchanged)
	(Newly established)	12.	Power generation, supply of
			electricity, thermal and other
			energies, management, operation,
			and rental of facilities related to the
			above, consulting and any
			businesses incidental to the above;
12.	(Omitted)	13.	(Unchanged)
	Chapter VI. Accounts		Chapter VI. Accounts
	(Newly established)	Article 35. The Company may, by resolution of the
		Board of Directors, pay interim
		dividends with a record date of
		September 30 each year.
Article 35.	(Omitted)	Article 36.	(Unchanged)

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