Regarding the Administration of the 12th Annual General Shareholders Meeting

KADOKAWA CORPORATION issued this statement to refute allegations made by Oasis Management Company Ltd. regarding the administration of the 12th Annual General Shareholders Meeting held in 2026. The primary purpose of the communication is to clarify that the company maintained fair and equitable proceedings, explicitly denying claims that it intentionally suppressed questions or discriminated against Oasis due to its status as a shareholder or the nature of its proposals.

The company provides specific operational data to support its position, noting that the meeting lasted over three hours, from 14:00 to 17:10. During this time, 20 shareholders posed 27 questions, all of which were addressed in good faith. Oasis was granted 12 minutes and 30 seconds to explain its shareholder proposal and, in total, occupied approximately 17% of the 117 minutes dedicated to proposal explanations and the subsequent question-and-answer session. The company emphasizes that these proceedings were overseen by a court-appointed inspector to ensure legal compliance and procedural integrity.

By highlighting these metrics, the company asserts that it balanced the need for smooth, efficient operations with the requirement to provide all attendees with a fair opportunity to speak. The company characterizes the statements made by Oasis as misleading and maintains that it remains committed to constructive dialogue with its shareholders. Moving forward, the organization intends to continue its focus on enhancing long-term corporate value while maintaining transparent communication with its investor base.