Notice of Stock Split

On April 1, 2020, the board of directors of Gakken Holidings inplemented s four-for-one dtovk split. Stock status afrter the stock split as  described below.

■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 September 30,2021

Name of Shareholder Equity securities held
Shares held
(hundreds)
Ratio of
shareholding(%)
Public Interest Incorporated Foundation Furuoka Scholarship Foundation 55,553 12.67
The Master Trust Bank of Japan ,Ltd. 34,806 7.94
Custody Bank of Japan, Ltd. 16,534 3.77
Sumitomo Mitsui Banking Corporation 12,000 2.73
Shingakukai Holdings Co., Ltd. 10,865 2.47
Kawai Musical Instruments Manufacturing Co., Ltd. 9,940 2.26
Gakken Businee Partners Stock Ownership 9,627 2.19
Development Bank of Japan Inc 9,480 2.16
Dai Nippon Printing Co., Ltd. 9,475 2.16
BNP PARIBAS SECURITIES SERVICES LUXEMBOURG/JASDEC/JANUS HENDERSON HORIZON FUND 8,457 1.92

* Shareholding percentage was calculated after deduction of treasury stock.