-2338-3000 Fax: 0-2338-3334 www.nationgroup.com 25 May 2020 Subject : Notification on Resolution of the Board of Directors’ Meeting No. 6/2020, Change of Directors and Directors’ Power, Entering into

hours maintained the same level as the previous year. In Japan, electricity sales increased from the full quarter revenue realization of Nikaho and Nagi project, and increase in average irradiation hours

Total Change Increase (Decrease) Quarter 3 Quarter 3 Quarter 3 Quarter 3 2017 2016 2017 2016 2017 2016 Amount % Total Revenues 8,600 8,059 183 251 8,783 8,310 473 6% Total Expenses (7,760) (7,178) (158

percent of the total paid-up shares with voting rights of such company; 3. a company holding shares in subsequent levels, beginning with the company under 2., provided that the shareholding in each level

shares with voting rights of such company; 2 3. a company holding shares in subsequent levels, beginning with the company under 2., provided that the shareholding in each level exceeds fifty percent of the

shareholding in each level exceeds fifty percent of the total paid-up shares with voting rights of the company being held, or an individual holding shares of the company in any subsequent level in a number

rights of such company; 3. a company holding shares in subsequent levels, beginning with the company under 2., provided that the shareholding in each level exceeds fifty percent of the total paid-up shares

company holding shares in subsequent levels, beginning with the company under 2., provided that the shareholding in each level exceeds fifty percent of the total paid-up shares with voting rights of the

preceding year, industrial and competition outlook with regard to, for example, an approximate number of competitors, the Company's size compared with that of the competitors, competitiveness and potential

a link thereto in order for investors to be able to access such information conveniently. Such information must be kept for at least five years without change thereafter. In addition, the Company is