Notice Regarding Stock Split and Amendments to Articles of Incorporation

August 9, 2024

To Whom It May Concern

NIPPON EXPRESS HOLDINGS, INC.

NIPPON EXPRESS HOLDINGS, INC. (the “Company”) hereby announces that it has resolved to implement a stock split and amend certain provisions of the Articles of Incorporation at the Board of Directors meeting held on August 9, 2024, as described below.

1.Purpose of Stock Split

By implementing a stock split and lowering the investment unit amount, the company aims to create a more accessible investment environment, improve the liquidity of its stock, and expand its investor base.

2.Overview of Stock Split

(1)Method of Split

On Tuesday, December 31, 2024 (effectively Monday, December 30, 2024 due to the registrar's office being closed on December 31), each share of common stock held by shareholders recorded on the final shareholder registry of that day will be split at a ratio of 3 shares for each existing share.

(2)Increase in Number of Shares Due to Split

①Total number of shares outstanding before the split* 87,000,000 shares
②Number of shares to be issued as a result of the split 174,000,000 shares
③Total number of shares outstanding after the split 261,000,000 shares
④Total number of shares authorized after the split 950,000,000 shares

*The number of shares outstanding after the split is based on the number of shares after the cancellation of treasury stock as resolved at the Board of Directors meeting on August 9.

(3)Schedule of the Split

Announcement date of record date (tentative) Monday, December 16, 2024
Record date Tuesday, December 31, 2024
Effective date Wednesday, January 1, 2025

3.Partial Amendment to Articles of Incorporation Related to Stock Split

(1)Reason for Amendment

In connection with the stock split, the Board of Directors meeting held on the same day will amend the total number of authorized shares stipulated in Article 5 of the Articles of Incorporation in accordance with Article 184, Paragraph 2 of the Companies Act, effective Wednesday, January 1, 2025.

(2)Content of Articles of Incorporation Amendment

The changes are as follows.

(Underlined sections indicate changes.)

Current Articles of Incorporation After amendment
Article 5
The total number of authorized shares of the Company shall be 340 million shares.
Article 5
The total number of authorized shares of the Company shall be 950 million shares.
Current Articles of Incorporation Article 5
The total number of authorized shares of the Company shall be 340 million shares.
After amendment Article 5
The total number of authorized shares of the Company shall be 950 million shares.

(3)Schedule of Articles of Incorporation Amendment

Date of Board Resolution Friday, August 9, 2024
Effective Date Wednesday, January 1, 2025

4.Other

(1)There will be no change in the company's capital stock amount due to this stock split.

(2)Regarding dividends

Since the stock split is effective from January 1, 2025, the year-end dividend for the fiscal year ending December 2024, the record date of which is December 31, 2024, will be calculated based on the number of shares before the split.
Information about dividends for the fiscal year ending December 2025 will be provided as soon as it is finalized.