Note: This document is an English translation of the original Japanese language document and has been prepared solely for reference purposes. No warranties or assurances are given regarding the accuracy or completeness of this English translation. In the event of any discrepancy between this English translation and the original Japanese language document, the original Japanese language document shall prevail in all respects.

August 31, 2021 (Translation) Company Name: Murakami Corporation Representative: Taro Murakami, Representative Director and President (Code: 7292 Second Section of the ) Inquiries: Takashi Hasegawa, Managing Director General Manager of Corporate Planning Division (TEL. +81-54-253-1876)

Notice Concerning Acquisition of Shares of Oshima Electric Works Co., Ltd. (to Make It a Subsidiary) and Acquisition of Oshima Electric Works Co., Ltd.-related Business at MITSUBA Corporation

Murakami Corporation (the “Company”) hereby announces that the Company resolved, at the meeting of the Board of Directors held today, to acquire 84.2% of the outstanding shares of Oshima Electric Works Co., Ltd. (“Oshima Electric Works”) from MITSUBA Corporation and make it a subsidiary and to acquire the development, design and sales functions of MITSUBA Corporation in connection with the manufacturing items of Oshima Electric Works (“Mitsuba's Oshima Electric Works-related Business”) (together, the “Acquisition”) and the Company has entered into a share purchase agreement with MITSUBA Corporation, as described below.

1. Reason for the Acquisition Oshima Electric Works is located in Ota City, Gunma Prefecture. Since its foundation in 1943, Oshima Electric Works has manufactured automotive interior and exterior parts for domestic automakers and has an extensive track record in rearview mirror production. The Company is running the automotive rearview mirror business as its main business. Through this acquisition of Oshima Electric Works, the Company is aiming to expand its customer base by possessing the new production base in the eastern area. In addition, by combining the technologies and know-how of both the Company and Oshima Electric Works, the Company is aiming to increase customer satisfaction and accelerate further business growth.

2. Outline of the Acquisition (1) Operating Results of the Businesses Subject to the Acquisition (Fiscal Year Ended March 31, 2021) Net sales 8,738 million yen Note: The above figure is after elimination of intercompany transactions from the combined sales of Oshima Electric Works and Mitsuba's Oshima Electric Works-related Business. (The business of manufacturing and sales of helmet of Oshima Electric Works is not included in this figure as it is not subject to succession.) (2) Method of the Acquisition ① The Company acquires 84.2% of the outstanding shares of Oshima Electric Works after having Oshima Electric Works take over the assets and liabilities related to Oshima Electric Works owned by MITSUBA Corporation (the “Share Acquisition”).

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② In conjunction with ①, the Company acquires the development, design, and sales functions of MITSUBA Corporation in connection with the manufacturing items of Oshima Electric Works through a business transfer method (the “Business Acquisition”).

3. Overview of the Subsidiary to Be Transferred (Oshima Electric Works Co., Ltd.) and Mitsuba's Oshima Electric Works- related Business (1) Overview of the Subsidiary to Be Transferred (1) Name Oshima Electric Works Co., Ltd. (2) Address 135-10, Nishi-shinmachi, Ota-shi, Gunma Job Title/Name of (3) Seichi Katagiri, President and Representative Director Representative Description of Manufacture of interior and exterior parts for automobiles and manufacture and sales (4) Businesses of helmets (5) Share Capital 380 million yen (6) Date of Incorporation December 24, 1960 Major Shareholders and MITSUBA Corporation (84.2%) (7) Percentage of Shares CORPORATION (15.8%) Capital Not applicable. Relationship with the Relationship Company and the Personnel (8) Not applicable. Subsidiary to Be Relationship Transferred Business Not applicable. Relationship (9) Operating Results and Financial Position of the Subsidiary to Be Transferred for the Past Three Years Fiscal Year Ended Fiscal Year Ended Fiscal Year Ended Fiscal Year End March 31, 2019 March 31, 2020 March 31, 2021 Net Assets 2,088 million yen 2,210 million yen 2,188 million yen Total Assets 3,997 million yen 4,067 million yen 4,089 million yen Net Assets per Share 2,747.27 yen 2,907.90 yen 2,879.10 yen Net Sales 8,874 million yen 10,082 million yen 8,246 million yen Operating Income or Loss (△) 238 million yen 198 million yen △15 million yen Ordinary Income 256 million yen 221 million yen 43 million yen Net Income or Loss (△) 172 million yen 156 million yen △34 million Net Income per Share or 226.21 yen 204.82 yen △44. 93 yen Net Loss per Share (△) Dividend per Share - yen - yen - yen Note: The business of manufacturing and sales of helmets not be subject to succession as it will be withdrawn prior to the Acquisition.

(2) Overview of Mitsuba's Oshima Electric Works-related Business ① Details of Mitsuba's Oshima Electric Works-related Business Development, design and sales functions performed by MITSUBA Corporation in connection with the products manufactured by Oshima Electric Works ② Operating Results of Mitsuba's Oshima Electric Works-related Business (Fiscal Year Ended March 2021) Net sales 8,579 million yen

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③ Acquisition Price of Mitsuba's Oshima Electric Works-related Business and Settlement Method Not disclosed in accordance with the confidentiality agreement.

4. Overview of the Transferor of the Acquisition (1) Name MITSUBA Corporation (2) Address 2681, Hirosawa-cho 1-chome, Kiryu-shi, Gunma Job Title/Name of (3) Katsuyoshi Kitada, President and Representative Director Representative Description of (4) Manufacture and sales of automotive electrical components Businesses (5) Share Capital 5,000 million yen (6) Date of Incorporation March 8, 1946 (7) Net Assets 76,217 million yen (Fiscal Year ended March 31, 2021, consolidated) (8) Total Assets 343,136 million yen (Fiscal Year ended March 31, 2021, consolidated) The Master Trust Bank of Japan, Ltd. (Trust Account) 5.1% The Bank of Yokohama, Ltd. (Standing proxy: Custody Bank of Japan, 4.9% Ltd.) Shareholding Association of MITSUBA Corporation Partner Companies 4.6% Retirement Benefit Trust Account of Motor Co., Ltd., Trustee of Mizuho Trust & Banking Co., Ltd., Re-Trustee of Custody Bank of Japan, 3.9% Major Shareholders and Ltd. (9) Percentage of Shares Motor Co., Ltd. 3.7% (As of March 31, 2021) Sunfield Industry Inc. 3.5% SECOM General Insurance Co., Ltd. 3.0% Dai-ichi Life Insurance Co., Ltd. (Standing proxy: Custody Bank of Japan, 2.9% Ltd.) UFJ Trust and Banking Corporation (Standing proxy: The 2.3% Master Trust Bank of Japan, Ltd.) The Ashikaga Bank, Ltd. 2.3% Capital Not applicable. Relationship Personnel Relationship with the Not applicable. Relationship (10) Company and Transferor Business of the Acquisition Not applicable. Relationship Relevant Status Not applicable. to Relevant Party

5. Number of Shares Acquired, Acquisition Price, and Stock Ownership Before and After the Share Acquisition 0 shares Shares Owned Prior to (1) (Number of voting rights: 0) the Transaction (Percentage of voting rights: 0%) 640,000 shares (2) Shares Acquired (Number of voting rights: 640,000)

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The acquisition price is privately held pursuant to the confidentiality agreement, (3) Acquisition Price however, the price is reasonably calculated after consultation with both parties. 640,000 shares Shares Owned After the (4) (Number of voting rights: 640,000) Transaction (Percentage of voting rights: 84.2%)

6.Schedule (1) Date of Resolution of the August 31, 2021 Board of Directors (2) Date of Conclusion of August 31, 2021 the Agreement Date of the Share (3) April 1, 2022 (planned) Transfer Date of Business (4) April 1, 2022 (planned) Transfer Note: The date of transfer of shares and the date of transfer of business are scheduled to be April 1, 2022 as described above; however, the date may change because the transfers will be conducted after the completion of the Fair Trade Commission's examination procedures based on Article 10, paragraph 2 of the Act concerning Prohibition of Private Monopolization and Maintenance of Fair Trade. In addition, the Business Acquisition does not fall under any of the provisions of Article 467, paragraph 1 of the Corporate Law and therefore does not require a resolution of the general meeting of shareholders of the Company.

7. Summary of Accounting Treatment for the Business Acquisition The accounting treatment for the Business Acquisition is expected to correspond to "Acquisitions" under the Accounting Standard for Business Combinations.

8. Future Outlook The date of transfer of shares (planned) and the date of transfer of business (planned) fall under the following fiscal year, and therefore, there is no impact on the Company’s consolidated earnings forecasts for the year ending March 31, 2022. The impact of the Acquisition on business results is scheduled to be reflected from the following fiscal year.

End of Document

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