On July 3, 2023, Fukuda Denshi Co., Ltd., announced that it held its 76th Extraordinary General Meeting of Shareholders on June 29, 2023 and according to the voting results, the shareholder proposals by Japan Absolute Value Fund L.P., on (i) Abolition of ?Basic Policy on Countermeasures against Large-scale Purchase of Company Shares?, (ii) Amendment to Articles of Incorporation (Establishment of new provisions regarding countermeasures against large-scale purchase), (iii) Method of determining the amount of remuneration for each individual director, and (iv) Amendment to Articles of Incorporation (Establishment of new provision regarding method of determining the amount of remuneration for directors) were all rejected.