Suzuken : Notice Concerning Change of Major Shareholder

November 14, 2023

Press Release SUZUKEN CO., LTD.

Shigeru Asano, President and CEO (Stock Code: 9987)

Securities Traded: Prime Markets of the Tokyo and Nagoya Stock Exchanges, and the Sapporo Securities Exchange

Contact: Yuichi Yamamoto, Executive Officer, Senior General Manager of Corporate Group Planning Headquarters

Tel.: [phone]

Notice Concerning Change of Major Shareholder

Suzuken Co., Ltd. (hereinafter, "the Company") hereby announces a change in one of its major shareholders on

November 10, 2023.

1. Circumstances Leading to the Change

On November 13, 2023, the following shareholder submitted a Large Shareholding Report (Change Report) to the

Kanto Local Finance Bureau, by which means the Company confirmed the change of this major shareholder.

2. Outline of the Changed Shareholder

(1) Name	Silchester International Investors LLP
(2) Address	5F Time & Life Building, 1 Bruton Street, London W1J 6TL,
United Kingdom
(3) Name and Title of Representative	Timothy Linehan, Partner

(4) Business Profile

Investment advisory business

3. Number of Voting Rights Held by the Shareholder in Question (Number of the Shares Held) and Ratio to the Number of Voting Rights of All Shareholders

	Number of voting rights	Ratio to the number of voting rights of
	(Number of shares held)	all shareholders
Before change	85,956	10.39%：Note 2
(as of September 27, 2023)	(8,595,600 shares)
After change	77,169	9.32%：Note 2
(as of November 10, 2023)	(7,716,900 shares)

Note 1: The above is written on the basis of the Large Shareholding Report (Change Report) submitted by the shareholder in question. It does not represent a confirmation by the Company of the actual number of shares held in the name of the shareholder in question.

The ranking of major shareholders has not been confirmed, and therefore is not indicated here.

Note 2: The ratio to the number of voting rights of all shareholders as of September 27, 2023 was calculated on the basis of a total number of voting rights of all shareholders of 827,658, which is based on the total number of issued shares as of September 27, 2023 (82,831,904) minus the number of treasury shares held by the Company as of September 27, 2023 (66,063).

The ratio to the number of voting rights of all shareholders as of November 10, 2023 was calculated on the basis of a total number of voting rights of all shareholders of 827,658, which is based on the total number of issued shares as of November 10, 2023 (82,831,904) minus the number of treasury shares held by the Company as of November 10, 2023 (66,063).

Note 3: The ratio to the number of voting rights of all shareholders is rounded to the second decimal place.

4. Future Outlook

This matter is based on the Change Report in the Large Shareholding Report. There are no specific details to be mentioned regarding the future outlook.

This is an English translation of a statement written initially in Japanese and is provided for reference purposes only. The Japanese original shall prevail in the event of any discrepancy between this document and the original.