Notice of Change in Major Shareholder

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

To whom it may concern

May 25, 2018

Tosei Corporation
Toranomon Tosei Building, 4-2-3 Toranomon, Minato-ku, Tokyo
President and CEO: Seiichiro Yamaguchi
Securities code: 8923 (Tokyo Stock Exchange, First Section)
S2D (Singapore Exchange, Mainboard)
Contact: Director and CFO: Noboru Hirano
TEL: +81-3-3435-2865

Notice of Change in Major Shareholder

Tosei Corporation (the “Company”) hereby announces that its major shareholder has changed as follows:


      1. 1.Background on change
        The Company was notified of the change in its major shareholder, based on the Large Shareholding Report (amended report) as of May 17, 2018 submitted by SAMARANG UCITS on May 24, 2018.

      1. 2.Profile of the shareholder that has changed
        (shareholder that will lose status as a major shareholder)
        （1）Name SAMARANG UCITS
        （2）Address 11a Avenue Monterey L-2163 Luxembourg
        （3）Representative Leonard Alain, Director
        （4）Business Investment business company

      1. 3.Changes in number of voting rights (number of shares) and percentage of total voting rights held by the shareholders
        Number of voting rights
        (Number of shares)        		Percentage of
        total voting rights*        		Major shareholder
        ranking
        　Before change
        (as of October 27, 2017)        		 51,273 units
        （5,127,300 shares)        		 10.62％ No.3
        After change 46,420 units
        （4,642,000 shares)        		 9.58％ No.3

        ※Number of shares with no voting rights deducted from number of issued shares: 2,300 shares
        　Number of issued shares as of March 31, 2018: 48,472,500 shares

      2. Note 1) The above information is based on the Large Shareholding Report. The ranking of major shareholders is estimated based on the number of shares owned on the register of shareholders as of November 30, 2017.
        Note 2) After changed “Percentage of total voting rights” is calculated based on voting rights which is calculated by deducting number of shares with no voting rights (2,300 shares) from the total shares as of March 31, 2018 (48,472,500 shares).
            1. 4.Outlook
              This matter is based on the Large Shareholdings Report (amended report relating to changes in significant shareholders) filed by the above shareholders.
              There is no significant reportable information on the future outlook.

        End