Notice of Stock Split

■Total number of authorized shares

159,665,600 shares

■Total number of issued and outstanding shares

44,633,232 shares

Principal Shareholders（Except treasury shares）as of March 31,2025

Name of Shareholder Equity securities held
Shares held
(hundreds)		 Ratio of
shareholding（％）
Public Interest Incorporated Foundation　Furuoka Scholarship Foundation 55,553 13.43
The Master Trust Bank of Japan ,Ltd. 49,272 11.91
Gakken Employees' Stock Ownership 12,250 2.96
ＢＮＰ　ＰＡＲＩＢＡＳ　ＬＵＸＥＭＢＯＵＲＧ／２Ｓ／ＪＡＳＤＥＣ／ＪＡＮＵＳ　ＨＥＮＤＥＲＳＯＮ　ＨＯＲＩＺＯＮ　ＦＵＮＤ 12,023 2.9
Sumitomo Mitsui Banking Corporation 12,000 2.9
Custody Bank of Japan, Ltd. 10,619 2.56
Kawai Musical Instruments Manufacturing Co., Ltd. 9,940 2.4
Development Bank of Japan Inc 9,480 2.29
Gakken Businee Partners Stock Ownership 8,892 2.15
KOSAIDO Holdings Co.,Ltd 6,892 1.66
  • Shareholding percentage was calculated after deduction of treasury stock.