7. A holder of ADSs will have fewer rights than a shareholder has and such holder will have to act through
the depositary to exercise those rights
The rights of shareholders under Japanese law to take various actions, including exercising voting
rights inherent in their shares, receiving dividends and distributions, bringing derivative actions,
examining a company's accounting books and records, and exercising appraisal rights, are available
only to holders of record. Because the depositary, through its custodian agents, is the record holder
of the Shares underlying the ADSs, only the depositary can exercise those rights in connection with
the deposited Shares. The depositary will make efforts to exercise votes regarding the Shares
underlying the ADSs as instructed by the holders and will pay to the holders the dividends and
distributions collected from the Company. However, in the capacity as an ADS holder, such holder
will not be able to bring a derivative action, examine our accounting books or records or exercise
appraisal rights through the depositary.