This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

Securities code: 3529 June 8, 2023 (Start date of electronic provision measures: June 7, 2023)

To Shareholders with Voting Rights:

Shinji Nikko

President

ATSUGI CO., LTD.

1-3-2, Ohyakita, Ebina-city

Kanagawa, Japan

NOTICE OF CONVOCATION OF

THE 97th ANNUAL GENERAL MEETING OF SHAREHOLDERS

Dear Shareholders:

We would like to express our appreciation for your continued support and patronage.

We hereby inform you that the 97th Annual General Meeting of Shareholders of ATSUGI CO., LTD. (the "Company") will be held as described below.

In convening this General Meeting of Shareholders, the Company has taken electronic provision measures, and has posted the matters subject to electronic provision measures on the Company's website on the Internet as the "Notice of Convocation of the 97th Annual General Meeting of Shareholders." Please access the following website to view the available document.

The Company's website: https://www.atsugi.co.jp/ir/soukai.html

In addition to the above website, the matters subject to electronic provision measures are also posted on Tokyo Stock Exchange's (TSE) website.

TSE website (Listed Company Search): https://www2.jpx.co.jp/tseHpFront/JJK020010Action.do?Show=Show

Please access TSE website above, enter "Atsugi" in the "Issue name (company name)" field or "3529" in the "Code" field, click "Search," and then click "Basic information" and select "Documents for public inspection/PR information." Please view the document from "Notice of General Shareholders Meeting/Informational Materials for a General Shareholders Meeting" under the "Filed information available for public inspection" section.

This General Meeting of Shareholders will be held by implementing preventative measures against the spread of COVID-19. We request our shareholders to consider the latest status of the pandemic and your own health condition on the day of the meeting and make a careful decision as to whether or not to attend the meeting. If you intend not to attend the meeting, you may exercise your voting rights in advance in writing (postal mail) or via the Internet. Please review the Reference Documents for the General Meeting of Shareholders below, and exercise your voting rights by 5:15 p.m., Wednesday, June 28, 2023.

- 1 -

Election of Three (3) Audit & Supervisory Board Members
Election of Five (5) Directors

1. Date and Time: Thursday, June 29, 2023 at 10:00 a.m. Japan time (Reception will open at 9:30 a.m.)

2. Place:

LA ROSE I Banquet Hall, 3rd Floor of Rembrandt Hotel Ebina

2-9-50 Chuo, Ebina, Kanagawa, Japan

3. Meeting Agenda:

Matters to be reported:1. The Business Report and Consolidated Financial Statements for the

Company's 97th Fiscal Year (April 1, 2022 - March 31, 2023) and results of audits by the Accounting Auditor and the Audit & Supervisory Board of the Consolidated Financial Statements

2. Non-consolidated Financial Statements for the Company's 97th Fiscal Year (April 1, 2022 - March 31, 2023)

Proposals to be resolved:

Proposal 1:

Proposal 2:

  • When you attend the meeting, please present the enclosed ballot form on the day of the meeting to the reception desk.
  • Please note that if any revisions are made to the matters subject to electronic provision measures, the revised contents will be made available on the respective websites where the matters are posted.
  • These documents sent to our shareholders also serve as the documents presenting the matters subject to electronic provision measures, which are delivered to shareholders who have made a request for such documents. In accordance with laws, regulations and the provisions of the Company's Articles of Incorporation, items listed below are excluded from the documents. Accordingly, such documents are part of the documents audited by the Accounting Auditor when preparing the Independent Auditor's Report and by the Audit & Supervisory Board Members when preparing their Audit Report.
    1. "Resolutions regarding the establishment of systems, etc., to ensure the appropriateness of operations and a summary of the operation status thereof"
    2. "Consolidated Statement of Changes in Equity"
    3. "Notes to Consolidated Financial Statements"
    4. "Non-consolidatedStatement of Changes in Equity"
    5. "Notes to Non-consolidated Financial Statements"

- 2 -

Reference Documents for the General Meeting of Shareholders

Proposals and References

Proposal 1: Election of Five (5) Directors

The term of office of all five (5) Directors shall expire at the close of this General Meeting of Shareholders. Accordingly, the Company proposes the election of five (5) Directors. Each candidate for Director was decided by the Board of Directors upon receiving reports from the Nomination and Remuneration Committee which consists of a majority of independent officers.

The candidates for Directors are as follows.

Candidate

Current position and

Attendance at Board

Name

of Directors

No.

responsibility in the Company

meetings

100%

1

Shinji Nikko

President

(10/10)

Reappointment

(after assuming

office)

Director Executive Officer,

100%

General Manager,

2

Masahiro Furukawa

Administration Division,

(10/10)

Reappointment

and General Manager,

(after assuming

Corporate Planning

office)

Department

3

100%

Toshio Takanashi

Outside

Director

Reappointment

(13/13)

Independent

4

Masatoshi Ohara

Outside

New

appointment

Independent

5

Mari Yada

Outside

New

appointment

Independent

- 3 -

No.

Name

Career summary, positions, responsibilities,

Number of

shares of the

(Date of birth)

and significant concurrent positions

Company held

April 1979

Joined Teijin Shoji Co., Ltd. (currently Teijin

Frontier Co., Ltd.)

June 2003

President of N.I. Teijin Shoji (Thailand) Co., Ltd.

April 2008

President of N.I. Teijin Shoji (U.S.A.) Inc.

June 2011

Director and General Manager, Industrial

&Automotive Fabrics Division of NI Teijin Shoji

Co., Ltd. (currently Teijin Frontier Co., Ltd.)

April 2012

Director and Chief Officer, Industrial Textiles &

Materials Division Group of NI Teijin Shoji Co.,

Ltd. (currently Teijin Frontier Co., Ltd.)

June 2013

Managing Director and Chief Officer, Industrial

Textiles & Materials Division Group of Teijin

Frontier Co., Ltd.

Shinji Nikko

June 2014

Senior Managing Director and Chief Officer,

(December 12, 1956)

Textile & Apparel Division Group II of Teijin

13,187 shares

Frontier Co., Ltd.

[Reappointment]

April 2015

Corporate Officer, General Manager, Product

Converting Business Group of Teijin Group, and

President and Representative Director of Teijin

Frontier Co., Ltd.

1

April 2017

Executive Officer and General Manager, Fibers &

Products Converting Business Group of Teijin

Group, and President and Representative Director

of Teijin Frontier Co., Ltd.

April 2021

Director and Senior Adviser of Teijin Frontier Co.,

Ltd.

June 2021

Senior Adviser of Teijin Frontier Co., Ltd.

April 2022

Adviser of the Company

June 2022

Representative Director of the Company (to

present)

June 2022

President of the Company (to present)

[Reason for nomination as candidate for Director]

Mr. Shinji Nikko, having served as the President and Representative Director of Teijin Frontier Co., Ltd. and Corporate Officer of the Teijin Group, is extremely knowledgeable about the textile industry and possesses deep insight into the industry, a broad network, as well as extensive management experience including experience abroad. Since assuming the office of the President of the Company in June 2022, he has been demonstrating strong leadership, promoting business restructuring, and leading the transformation of the Group. Based on his experience and track record described above, the Company determined that he will continue to appropriately perform his duties as a Director toward restoring the Group's business performance and the improvement of medium to long-term corporate value, and therefore, nominates him as a candidate for Director.

- 4 -

No.

Name

Career summary, positions, responsibilities,

Number of

shares of the

(Date of birth)

and significant concurrent positions

Company held

April 2001

Joined the Company

April 2010

General Manager of Atsugi Stocking (Yantai) Co.,

Ltd.

April 2016

General Manager, Accounting Department,

Masahiro Furukawa

Administration Division of the Company

April 2020

Executive Officer of the Company (to present)

(January 2, 1979)

April 2020

Supervisor, Administration of the Company

3,662 shares

April 2021

General Manager, Corporate Planning Office of

[Reappointment]

the Company

June 2022

Director of the Company (to present)

2

October 2022

General Manager, Administration Division (to

present)

October 2022

General Manager, Corporate Planning Department

(to present)

[Reason for nomination as candidate for Director]

Mr. Masahiro Furukawa has experience in plant management as the General Manager of a Chinese production

subsidiary and has been playing a central role in leading the business administration of the Group, including the

strengthening of financial strategy and governance as a General Manager of Administration Division.

Based on his experience and track record described above, the Company determined that he will continue to

appropriately perform his duties as a Director toward restoring the Group's business performance and the

improvement of medium to long-term corporate value, and therefore, nominates him as a candidate for Director.

- 5 -

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Atsugi Co. Ltd. published this content on 08 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 June 2023 07:06:08 UTC.