Notice Regarding Voluntary Reduction in Executive Compensation at a Subsidiary
Today, certain media outlets reported that a member of the Yatsushiro City Council had been indicted on charges of bribery relating to the new Yatsushiro City hall construction project awarded in 2019 to our subsidiary, MAEDA CORPORATION.
In response to media reports made in October 2025, MAEDA CORPORATION has been conducting a special investigation led by external legal counsel. In January 2026, the Company and MAEDA CORPORATION voluntarily reported the matter to the relevant investigative authorities and continue to cooperate fully with the ongoing investigation.
We deeply regret that this situation has arisen, and once again extend our sincerest apologies to our shareholders, investors, and all other stakeholders for the significant concern and inconvenience caused.
As announced on May 13, 2026, the Company and MAEDA CORPORATION have established a Recurrence Prevention Review Committee at MAEDA CORPORATION and will work across the entire organization to prevent any recurrence.
Taking the seriousness of this matter into consideration, we have decided today to implement a voluntary reduction in executive compensation, as described below.
Employees involved in this matter will be subject to strict disciplinary action in accordance with internal regulations.
Subject executive Soji Maeda, President and Representative Director, MAEDA CORPORATION
Amount of reduction 30% of monthly compensation
Period Three months, from June to August 2026
Notice Regarding Voluntary Reduction in Executive Compensation at a Subsidiary