Notice Regarding Share Repurchase Program (Share repurchase based on the Articles of Incorporation pursuant to Article 165, Paragraph 2 of the Companies Act)

April 26, 2024

SMS Co., Ltd. hereby announces that, on April 26, 2024, its Board of Directors has resolved on matters relating to a share repurchase program based on Article 156 of the Companies Act, as applied by replacing the terms with Article 165, paragraph 3 of the Companies Act.

１．Reasons for Share Repurchase

This share repurchase is intended to enable flexible implementation of capital policies in response to changes in the business environment.

２．Details of Share Repurchase

(1) Class of shares to be repurchased	Common shares of SMS Co., Ltd.
(2) Total number of shares to be repurchased	876,400 shares (maximum)* (1.01% of total shares outstanding (excluding treasury shares))
(3) Aggregate repurchase price	2 billion yen (maximum)
(4) Repurchase period	From April 30, 2024 to June 30, 2024
(5) Repurchase method	Market purchase based on a discretionary trading agreement

* The total number of shares to be repurchased is calculated based on the aggregate repurchase price of 2 billion yen and the closing price (2,282 yen) on April 25, 2024, which is one business day before the Board resolution, and the number of shares less than one unit is rounded down.

(Reference) Treasury shares held as of March 31, 2023

Total number of shares outstanding (excluding treasury shares)	86,748,768 shares
Total number of treasury shares	812,832 shares

Notice Regarding Share Repurchase Program (Share repurchase based on the Articles of Incorporation pursuant to Article 165, Paragraph 2 of the Companies Act)