Akebono' s policy for engagement with shareholders and investors

Objective

Akebono, in the principles of the Corporate Governance Code, established this policy to contribute to sustainable growth and medium- to long-term enhancement of corporate value through constructive dialogue with shareholders and investors.

Basic Policy

• 1. Based on the fundamental principal of treating all shareholders equally, Akebono will proactively disclose information about management policies, financial condition, and business results in a timely and appropriate manner.
• 2. Shareholder and Investor opinions obtained through dialogue with shareholders and investors will be communicated on a regular basis in the form of feedback to Akebono's Board of Directors.
• 3. Akebono will proactively respond in a reasonable manner to requests from shareholders and investors for direct dialogue with Directors or Executive Officers.

Establishment of Organization for Effective Communication with Shareholders and Investors

Akebono established Corporate Communications Office to facilitate effective communication with shareholders and investors. The Board of Directors supervises the operation of the Corporate Communications Office to ensure that communication with shareholders and investors is conducted appropriately.

Corporate Communications Office Responsibilities

• 1. To enhance communication with shareholders and investors, the Corporate Communications Office shall plan and implement proactive IR activities.
• 2. The Corporate Communications Office shall conduct IR activities based on information exchanged and close cooperation with related departments such as Corporate Planning, Accounting, Finance, Legal, Sales, Manufacturing.
• 3. The Corporate Communications Office shall endeavor to manage insider information appropriately in accordance with Akebono's policy regarding insider information.
• 4. The Corporate Communications Office shall report opinions and concerns received from shareholders and investors through IR activities to Directors and Executive Officers as appropriate and shall provide feedback to relevant departments within the company as necessary.
• 5. The Corporate Communications Office shall endeavor to understand the shareholder structure of the Company through shareholder identification surveys and interviews during IR activities.