On April 5, 2023, Sankyo Kasei Corporation announced that it held its Extraordinary General Meeting of Shareholders on April 4, 2023 and according to the results, shareholder proposals by Black Clover Limited on (i) Dismissal of Mr. Kazuo Ogawa from the Board of Directors, (ii) Amendment to Articles of Incorporation related to sale of shares held for cross-shareholding purposes, (iii) Abolition of countermeasures against large scale purchase of company shares and (iv) Removal of 35th Article of Incorporation were rejected. Proposals (v) Appropriation of Surplus and (vi) Acquisition of Treasury Shares were contingent on approval of proposal no. 4 and since, proposal no.4 was not approved, no resolution was adopted for proposals 5 and 6.