Dialogue with Shareholders / Investors

NTN implements various measures to facilitate the smooth exercise of voting rights, including putting particular effort into making it easy for all shareholders to participate in the General Meeting of Shareholders.

Early sending of the notice of the General Meeting of Shareholders, etc.

We strive to ensure early disclosure of information by posting the Notice of General Meeting of Shareholders on our website and sending out Notice letters earlier than the statutory deadline. The English translation (summary) of the Notice is also published on the website to enhance accessibility for foreign shareholders.

Efforts included within the notice of General Meeting of Shareholders

To facilitate greater understanding among shareholders, we publish a list of candidates in the proposal for the selection of officers, along with their photographs, skill matrices showing their main areas of experience, attendance rate at the Board of Directors’ and other meetings, years in their position, and other information.

Scheduling the General Meeting of Shareholders to avoid overlap with “peak days”

To encourage more shareholders to attend the General Meeting of Shareholders, we avoid so-called “peak days” on which many companies hold their meetings and instead choose a date with consideration for its relationship with settlement of accounts, audit schedule, and other factors.

Online exercise of voting rights

Voting rights may be exercised beforehand by postal mail as well as via the Internet up until the end of business hours (17:25) on the day before the General Meeting of Shareholders. In addition, institutional investors participate in the electronic voting system platform operated by ICJ, Inc.

Video of the General Meeting of Shareholders

Audio and video of the General Meeting of Shareholders are posted on our website at a later date so that shareholders can view a portion of the meeting.

We strive to develop the company and proactively engage in dialogue with shareholders/investors and disclose information. When disclosing information, we endeavor to promptly and fairly disclose information that we believe would be useful to shareholders/investors, even if the information does not fall under any laws or regulations.

Dialogue with shareholders and investors

General Meetings of Shareholders, quarterly financial results, and Medium-term Management Plan briefings provide valuable opportunities for dialogue with shareholders/investors, and the CEO and other top management actively participate in these opportunities. In addition to top management on the executive side, the Chair of the Board of Directors, who is the top supervisory figure and an Outside Director, also engages in direct dialogue with shareholders and investors.
Going forward, we will continue to create opportunities to carefully communicate with shareholders/investors through explanations of our management policies, business strategies, and more, so that they can evaluate and understand our business and corporate value.

Activity details	Number of times held	Number of people interacted with
General Meeting of Shareholders (June 2026)	1 time	87 people

Activity details	Number of times held	Number of people interacted with
Financial results briefings	4 times	218 people
Individual interviews	170 times	327 people
IR conferences hosted by securities companies	2 times	11 people
Dialogue with Outside Directors	1 time	22 people
Business briefings and factory tours	1 time	19 people

Please note that financial results briefing materials and scripts are disclosed here.
IR Library:Presentations|Investors|NTN Global

Response based on opinions from shareholders and investors
Holding business briefings/factory tours	Opinion	Please explain the future prospects of businesses on which NTN will focus as well as existing businesses.
	Response	We held business briefings and factory tours for securities analysts and domestic institutional investors.
Disclosure of cash allocation	Opinion	Please disclose medium to long-term funding plans, including investment and shareholder returns.
	Response	In the Medium-term Management Plan (FY2024–2026), we disclosed cash allocation for three years.
Disclosure of capital cost and ROE targets	Opinion	Please clarify when ROE exceeding capital cost will be achieved.
	Response	In the Medium-term Management Plan (FY2024–2026), we disclosed the current status and future targets of capital cost and ROE.
Enhancement of information disclosure	Opinion	Please disclose financial results briefing materials in advance.
	Response	We now disclose in advance materials that were previously disclosed at the same time as financial results briefings.
	Opinion	Please shorten the period between the financial results announcement and the financial results briefing.
	Response	We have held financial results briefings within shorter periods of time than previously.
Creating opportunities for dialogue with Outside Directors	Opinion	We would like to verify the approach to governance and its effectiveness.
	Response	We held dialogue sessions between Outside Directors and securities analysts and domestic institutional investors.

Dialogue between institutional investors and Outside Directors

On January 20, 2026, we held a dialogue session between institutional investors and our Outside Directors, with 22 institutional investors and securities company analysts in attendance. NTN has held ESG briefings every year since 2018, ensuring repeated dialogue between Outside Directors and institutional investors. However, expectations and demand for dialogue with Outside Directors who oversee management from the capital markets have grown, so we organized this new dialogue session with the aim of deepening participants’ understanding of how we are strengthening our governance and enhancing our corporate value.
The participants were invited to submit questions addressed to the Outside Directors beforehand, and on the day of the dialogue, answers were provided by Director Komatsu, who served as Chair of the Board of Directors at the time (January 2026); Director Murakoshi, Chair of the Nominating Committee; Director Toshita, Chair of the Compensation Committee; and Director Kitani, Chair of the Audit Committee. In addition to the pre-submitted questions, participants raised further questions during the session, deepening discussions with investors on a wide range of topics including management, governance, and finance, and enabling constructive dialogue.

■Dialogue between institutional investors and Outside Directors

Our company has established, as one of its management policies, that we will strive for corporate development and profit returns to shareholders, while communicating broadly with society and actively disclosing information. We comply with various laws and regulations including the Financial Instruments and Exchange Act, as well as the “Rules Regarding the Timely Disclosure of Corporate Information by Issuers of Listed Securities” established by the Tokyo Stock Exchange, and conduct information disclosure in accordance with the “Fair Disclosure Rules” while respecting the “Corporate Governance Code.”
Also, for information that does not fall under laws and regulations, we strive to implement proactive and fair disclosure of information that we judge to be useful to investors.

Management of material information

We appropriately manage information subject to insider trading regulations and definitive financial information prior to its disclosure as material information. If it is determined that our executives or other personnel have communicated undisclosed material information to business associates as defined by the Fair Disclosure Rules, then we will promptly disclose such material information. If we believe that there is information that is equivalent to material information but which would not be appropriate to disclose, then, until the information in question can be disclosed, we will take measures such as not disclosing the information and having any parties involved in the transaction be obliged to maintain confidentiality and to refrain from trading or otherwise dealing in our shares.