Sekisui House, Ltd.TSE: 1928

Notice of the 75th Ordinary General Meeting of Shareholders

Mar 24, 2026 at 3:18 PM UTC · Issued by Sekisui House, Ltd.

(Securities Code: 1928)

Sekisui House, Ltd. March 25, 2026

Yoshihiro Nakai

Representative Director of the Board Sekisui House, Ltd.

1-88, Oyodonaka 1-chome, Kita-ku, Osaka

NOTICE OF THE 75TH ORDINARY GENERAL MEETING OF SHAREHOLDERS

We express our deep appreciation to each of the shareholders for your extraordinary support.

The 75th Ordinary General Meeting of Shareholders of Sekisui House, Ltd. (the “Company” or “Sekisui House”) is to be held as stated below. Instead of attending the meeting in person, you may also review the “Reference Documents for General Meeting of Shareholders” and exercise your voting rights in writing or via the Internet by 6:00 p.m. on Wednesday, April 22, 2026. (Unless otherwise noted, all the times shown in this Notice are in Japan Standard Time.)

Date and Time: 10:00 a.m., Thursday, April 23, 2026
Place of the Meeting: Knowledge Capital Congrès Convention Center
Second Basement, North Building, Grand Front Osaka, 3-1 Ofuka-cho, Kita-ku, Osaka
Agenda:Items for reporting: 1. Reports on the Business Report, the Consolidated Financial Statements and the Non-Consolidated Financial Statements for the 75th fiscal year (February 1, 2025 – January 31, 2026)
2. Report on the Results of Audit conducted by the Accounting Auditor and the Audit and Supervisory Board with respect to the Consolidated Financial Statements for the 75th fiscal year (February 1, 2025 – January 31, 2026)
Proposals to be tabled:Proposal No. 1 Appropriation of SurplusProposal No. 2 Partial Amendments to the Articles of IncorporationProposal No. 3 Election of 10 Directors of the BoardProposal No. 4 Election of Two Audit and Supervisory Board Members
[Translation: Please note that this document purports to be a translation from the Japanese original Notice of the 75th Ordinary General Meeting of Shareholders of Sekisui House, Ltd. prepared for the convenience of non-Japanese readers. In the case of any discrepancy between the translation and the Japanese original, the latter shall prevail. Please also be advised that certain statements regarding voting procedures for domestic shareholders are not applicable to the shareholders outside Japan.]
Matters Subject to Measures for Electronic Provision:
When convening this Ordinary General Meeting of Shareholders, the Company takes measures for electronic provision and posts the matters subject
to the measures for electronic provision on the Company’s website.
URL:
Japanese https://www.sekisuihouse.co.jp/company/financial/holders/ shotsu/
English https://www.sekisuihouse.co.jp/english/company/financial/holders/meeting/
URL:
https://www2.jpx.co.jp/tseHpFront/JJK020010Action.do?Show=Show
The matters subject to the measures for electronic provision are also posted on the Tokyo Stock Exchange website (Tokyo Stock Exchange Listed Company Search). Please perform a search by entering “Sekisui House” in the “Issue name (company name)” or “1928” in the “Code,” select “Basic information” and “Documents for public inspection/PR information,” and view the information.
- In the event that it becomes necessary to revise any item in the matters subject to the measures for electronic provision, the revised items will be posted on each of the websites where such matters are posted.
- In accordance with the provisions of laws and regulations and Article 16 of the Articles of Incorporation of the Company, the paper copy sent to shareholders who have requested it does not include the “Outlines of Share Acquisition Rights” and the “System to Ensure the Due Execution of Duties and the Status of Its Implementation” in the Business Report, the “Consolidated Statements of Changes in Net Assets” and the “Notes to Consolidated Financial Statements” in the Consolidated Financial Statements, and the “Non-Consolidated Statements of Changes in Net Assets” and the “Notes to Non-Consolidated Financial Statements” in the Non-Consolidated Financial Statements of the matters subject to the measures for electronic provision. Therefore, the paper copy is part of the documents audited by the Audit and Supervisory Board Members and the Accounting Auditor when preparing the audit report.
- “Reference Documents for General Meeting of Shareholders” are also sent to shareholders who have not requested the paper copy.

Guidelines of the Exercise of Voting Rights:
Please exercise your voting rights after reviewing the “Reference Documents for General Meeting of Shareholders.”
In addition to attending the General Meeting of Shareholders in person, the following two methods are available for exercising your voting rights.
In writing
Exercise deadline: Votes must be received by 6:00 p.m. on Wednesday, April 22, 2026
Please see page 3 for details.
Via the Internet
Exercise deadline: The exercise of a voting right via the Internet, must be completed by 6:00 p.m. on Wednesday, April 22, 2026.
Please see page 3 for details.
Handling of votes when voting rights are exercised more than once
1. In case that a voting right is exercised both in writing and via the Internet, only the vote registered via the Internet will be recognized valid.
2. In case that a voting right is exercised more than once via the Internet, only the last vote will be recognized valid.

If attending the meeting in person, please submit the enclosed voting form to the receptionist at the meeting.
The results of the resolution at the General Meeting of Shareholders will be posted on the Company’s website.

Guidelines regarding the exercise of a voting right in writing:

Votes must be received by 6:00 p.m. on Wednesday, April 22, 2026

Please indicate on the enclosed voting form whether you approve or disapprove the proposals listed, and return it so that your vote is received by the exercise deadline above. If there is no indication of approval or disapproval for the proposal on the voting form, your vote for the proposal shall be counted as approval.

Please indicate your approval or disapproval of each proposal here.

For Proposals 1 and 2,

if you approve >> mark ○ in the 賛 column

if you disapprove >> mark ○ in the 否 column For Proposals 3 and 4,

if you approve all candidates >> mark ○ in the 賛 column

if you disapprove all candidates >> mark ○ in the 否 column

if you disapprove some of the candidates >> mark ○ in the 賛 column and enter the candidate number of each candidate you disapprove of.

Guidelines regarding the exercise of a voting right via the Internet:

The exercise of a voting right via the Internet, must be completed by 6:00 p.m. on Wednesday, April 22, 2026

Access the website for exercising votes using QR code:
1. By scanning the QR code shown on the voting form, you can log in to the website for exercising votes without the log-in ID and temporary password shown on the form.
  *The “QR code” is a registered trademark of DENSO WAVE INCORPORATED.
2. Please indicate whether you approve or disapprove the items on the agenda by following the instructions on the display screen.
Access the website for exercising votes using the log-in ID and temporary password:
1. Please access the website using the following URL.
  https://evote.tr.mufg.jp/
2. Log in using the log-in ID and temporary password which are shown on the voting form and press the login button.
3. Please indicate whether you approve or disapprove the items on the agenda by following the instructions on the display screen.
  Depending on the Internet connection of your computer or smart phone, the website for exercising votes may not be available.
Inquiries regarding the exercise of a voting right via the Internet:
Mitsubishi UFJ Trust and Banking Corporation Corporate Agency Service Support: 0120 (173) 027 *
Business Hours: from 9:00 a.m. to 9:00 p.m. (toll free; within Japan only)

To institutional investors

Institutional investors are entitled to use the Electronic Voting Platform operated by ICJ to electronically exercise your voting rights for this General Meeting of Shareholders.

* The service is available in Japanese only.

Dear Shareholders,

I would like to express my sincere appreciation for your continued support.

On the occasion of presenting the Notice of the 75th Ordinary General Meeting of Shareholders, I would like to extend my greetings.

During the fiscal year under review, which marked the final year of the Sixth Mid-Term Management Plan (FY2023–FY2025), the business environment in the United States remained challenging due to persistently high interest rates and uncertainty surrounding the economic outlook. Nevertheless, driven by the strong growth of each domestic business, we achieved record highs in both net sales and profits. We also plan to increase dividends per share for the 14th consecutive year. Over these three years, under the basic policy of “Stable Growth in Japan and Proactive Growth Overseas,” we not only achieved the business performance we had committed to but also laid various foundations for future growth.

Specifically, in Japan, we implemented an organizational restructuring centered on our “Customer Base,” which is one of our core competencies, to strengthen the expertise of each Group company and deepen collaboration, thereby establishing a system to provide enhanced services. In the U.S. homebuilding business, we completed a large-scale M&A and advanced the integration of four Group builders, launching a “One Company” structure under the new entity “SEKISUI HOUSE U.S., Inc.” starting in January 2026.

In the Seventh Mid-Term Management Plan (FY2026–FY2028), newly launched in FY2026, we have adopted as our fundamental policy “Cultivating the Sekisui House Economic Sphere through Group-wide Capabilities” in Japan and “Building a Growth Platform to Drive a Game-changing Transformation” overseas.

In Japan, we will pursue sustainable growth by fully leveraging the Group-wide capabilities to deliver one-stop, housing-based solutions to homeowners and residents through strengthened customer touchpoints. Overseas, in pursuit of transformative growth in the U.S. homebuilding business, we will accelerate the transfer of Sekisui House technologies developed in Japan and strengthen our brand under the “One Company” structure.

Guided by our Corporate Philosophy of “Love of Humanity,” the Sekisui House Group will continue to create and nurture happiness that begins in our homes while pursuing sustained growth.

I sincerely ask for the continued understanding and support of our shareholders.

Yours sincerely,

Yoshihiro Nakai Representative Director of the Board, CEO

President, Executive Officer

Reference Documents for the General Meeting of Shareholders Proposals and Reference InformationProposal No. 1: Appropriation of Surplus

The Company proposes to appropriate surplus as stated below.

Matters related to year-end dividends:
In view of profit situation and dividend policy, the Company proposes that a year-end dividend of ¥72 per share be paid for the fiscal year under review. Since the Company paid an interim dividend of ¥72 per share on September 30, 2025, the annual dividend for the fiscal year under review totals ¥144 per share.
1. Type of dividend property:
  Cash
2. Matters related to the appropriation of dividend property and total amount thereof:
  ¥72 per common share of the Company Total amount: ¥46,685,496,672
3. Date on which dividends take effect: April 24, 2026
Other matters related to the appropriation of surplus:
The Company plans to make the following changes to internal reserves to strengthen the management base in preparation for active business expansion in the future.
1. Item of surplus to be increased and amount thereof:
  General reserve: ¥47,000,000,000
2. Item of surplus to be decreased and amount thereof:

Retained earnings brought forward: ¥47,000,000,000

(Reference) Transition of dividends per share and dividend payout ratio

FY2022 FY2023 FY2024 FY2025

Proposal No. 2: Partial Amendments to the Articles of Incorporation

Reasons for the amendments
In order to support recruitment operations with a view to strengthening recruitment at the Group companies, the Company proposes to add a business purpose to Article 2 (Purpose) of the current Articles of Incorporation so as to enable the Company to engage in a fee-charging employment placement business pursuant to the Employment Security Act (Act No. 141 of 1947).
Details of the amendments

(Amended portions are underlined.)

Current Articles of Incorporation

Proposed amendments

(Purpose)

Article 2. The purpose of the Company shall be to engage in the following businesses:

1. to 20. (Omitted)

Holding, sale, purchase and asset management of marketable securities;
Advertising agent business, non-life insurance agent business and business concerning canvassing for life insurance;
(Newly established)
Administration of facilities for career development;
to 25. (Omitted)

(Purpose)

Article 2. The purpose of the Company shall be to engage in the following businesses:

to 20. (Unchanged)

(Unchanged)
(Unchanged)
Fee-charging employment placement business
(Unchanged)
to 26. (Unchanged)

Proposal No. 3: Election of 10 Directors of the Board

The terms of office of all 10 current Directors of the Board will expire at the close of this Ordinary General Meeting of Shareholders. The Company proposes to elect 10 Directors of the Board, including 5 Outside Directors of the Board.

The candidates for Director of the Board are as follows:

No.	Name		Gender	Current post in the Company, etc.	Number of years in office as Director of the Board (at the close of this Meeting)	Attendance at the meetings of the Board of Directors (75th)
1	Reelection	Yoshihiro Nakai	Male	Representative Director of the Board, CEO President, Executive Officer Member, Personnel Affairs and Remuneration Committee	10 years	13/13 (100%)
2	Reelection	Satoshi Tanaka	Male	Representative Director of the Board Executive Vice President, Executive Officer Member, Personnel Affairs and Remuneration Committee	6 years	13/13 (100%)
3	Reelection	Toru Ishii	Male	Director of the Board Senior Managing Officer	6 years	13/13 (100%)
4	Reelection	Yasushi Omura	Male	Director of the Board Senior Managing Officer	1 year	9/9 (100%)
5	New Election	Masaru Noma	Male	Senior Managing Officer	-	-
6	Reelection Outside Independent Director	Yukiko Yoshimaru	Female	Outside Director of the Board Chairperson, Personnel Affairs and Remuneration Committee	8 years	13/13 (100%)
7	Reelection Outside Independent Director	Toshifumi Kitazawa	Male	Outside Director of the Board Chairperson, Board of Directors Member, Personnel Affairs and Remuneration Committee	6 years	13/13 (100%)
8	Reelection Outside Independent Director	Yoshimi Nakajima	Female	Outside Director of the Board	5 years	13/13 (100%)
9	Reelection Outside Independent Director	Shinichi Abe	Male	Outside Director of the Board	4 years	13/13 (100%)
10	Reelection Outside Independent Director	Yukiko Kuroda	Female	Outside Director of the Board Member, Personnel Affairs and Remuneration Committee	1 year	9/9 (100%)

Reelection: candidate for Director of the Board to be reelected

New Election: candidate for Director of the Board to be newly elected Outside: candidate for Outside Director of the Board

Independent Director: candidate for Independent Director stipulated by the Tokyo Stock Exchange, Inc.

No.	Name	Knowledge, experiences and abilities particularly expected of each Director of the Board
No.	Name	Corporate management Business strategy	International business Overseas insight	Finance strategy and accounting	Technology and environment Innovation	Improvement in sociability Human resources development Diversity	Governance Risk management Compliance
1	Yoshihiro Nakai	●		●		●	●
2	Satoshi Tanaka	●	●	●		●	●
3	Toru Ishii	●	●			●
4	Yasushi Omura	●			●		●
5	Masaru Noma	●			●		●
6	Yukiko Yoshimaru	●	●			●	●
7	Toshifumi Kitazawa	●	●	●			●
8	Yoshimi Nakajima	●	●	●		●
9	Shinichi Abe	●	●		●	●
10	Yukiko Kuroda	●	●			●	●

* This chart indicates certain knowledge, experiences, and abilities which the Company particularly expects each candidate to have for his/her duties, not necessarily what each candidate currently has in fact.

Candidate No.

Number of years in office as Director of the Board

(at the close of this Ordinary General Meeting of

Shareholders)

Attendance at the meetings of the Board of Directors (FY2025)

Special interest with the Company

10 years

13/13

(attendance at the meetings of the Board of Directors: 100%)

None

Yoshihiro Nakai

(April 30, 1965)

(60 years old) Reelection

Number of the Company’s Shares

owned

164,080 shares

Career summary, post and responsibility in the Company

Apr. 1988: Joined the Company

Apr. 2014: Executive Officer, Acting Head of Corporate Management Planning Department of the Company

Apr. 2016: Managing Officer of the Company, in charge of Corporate Management Planning and Accounting & Finance

Apr. 2016: Director of the Board of the Company

Feb. 2018: President, Representative Director of the Board of the Company

Apr. 2021: Representative Director of the Board, President, Executive Officer, CEO of the Company

In charge of Business Strategy Division and Division of Built-to-Order Business Apr. 2025: Representative Director of the Board, CEO, President, Executive Officer of the

Company (current position)

Significant concurrent post of other companies

Chairman of Japan Federation of Housing Organizations

Reason for election as Director of the Board

In the Corporate Management Planning Division, he exercised his outstanding conceptual ability and always played a central role in formulating and implementing the Group’s management strategies and plans. Since assuming the post of CEO, he has demonstrated the comprehensive capabilities of the Group with the Corporate Philosophy as a compass, and has vigorously promoted the strengthening of the corporate governance structure as well as the practice of ESG management.

Striving to develop human resources with integrity and autonomy under the slogan of Innovation & Communication and focusing on the whole Group working together for the common goals, he has been strongly promoting the basic policy of “stable growth in Japan and proactive growth overseas” set forth in the Sixth Mid-Term Management Plan through his strong leadership. To achieve sustainable growth and increase the corporate value of the Sekisui House Group, by accumulating appropriate management decisions in order to become a “game changer” in the U.S. homebuilding market and aiming to transform into a global company based on the residential domain, under the global vision of “Make home the happiest place in the world,” the Company therefore proposes to reelect him as a Director of the Board.

Knowledge, experiences and abilities particularly expected of each Director of the Board
Corporate management / Business strategy	●
International business / Overseas insight
Finance strategy and accounting	●
Technology and environment / Innovation
Improvement in sociability / Human resources development / Diversity	●
Governance / Risk management / Compliance	●

Candidate No.

Number of years in office as Director of the Board

(at the close of this Ordinary General Meeting of

Shareholders)

Attendance at the meetings of the Board of Directors (FY2025)

Special interest with the Company

6 years

13/13

(attendance at the meetings of the Board of Directors: 100%)

None

Satoshi Tanaka

(February 27, 1958)

(68 years old) Reelection

Number of the Company’s Shares

owned

70,800 shares

Career summary, post and responsibility in the Company

Apr. 1981: Joined MITSUI & CO., LTD.

Apr. 2004: General Manager of Investor Relations Division of MITSUI & CO., LTD.

Apr. 2007: General Manager of Corporate Planning & Strategy Division of MITSUI & CO., LTD.

Jul. 2010: Deputy General Manager of Consumer Service Business Unit of MITSUI & CO., LTD.

Apr. 2011: Executive Officer; General Manager of Consumer Service Business Unit of MITSUI & CO., LTD.

Apr. 2013: Managing Officer; General Manager of Consumer Service Business Unit of MITSUI & CO., LTD.

Apr. 2015: Senior Managing Officer; President of Asia Pacific Business Unit of MITSUI & CO., LTD. and President of MITSUI & CO. (ASIA PACIFIC) PTE. LTD.

Apr. 2017: Vice President & Executive Officer; CAO (Chief Administrative Officer); CIO (Chief Information Officer); CPO (Chief Privacy Officer) of MITSUI & CO., LTD.

Jun. 2017: Representative Director; Vice President and Executive Officer of MITSUI & CO., LTD.

Jun. 2019: Counselor of MITSUI & CO., LTD.

Mar. 2020: Outside Director of Kuraray Co., Ltd. (current position) Apr. 2020: Outside Director of the Board of the Company

Jan. 2021: Outside Director of IHH Healthcare Berhad (current position)

Apr. 2021: Representative Director of the Board, Executive Vice President, Executive Officer of the Company (current position)

In charge of Division of Administration and Human Resources

Apr. 2025: Managing Finance Division, Human Resources Division and Auditing, in charge of Administration Division of the Company (current position)

Significant concurrent post of other companies

Outside Director of Kuraray Co., Ltd. Outside Director of IHH Healthcare Berhad

Reason for election as Director of the Board

Having held key positions in a major general trading company, he has domestic and international management experience, as well as knowledge and experience in the energy and consumer service sectors. He served as the Representative Director of the Board, Vice President & Executive Officer of the trading company for two years from 2017, where he was the officer responsible for the corporate staff divisions, including the positions of CAO, CIO, and CPO.

He assumed the position of Outside Director of the Board of the Company in 2020. Since assuming the position of Representative Director of the Board, Executive Vice President, Executive Officer in 2021, he has been in charge of the Division of Administration and Human Resources, responsible for promoting human resource strategies such as supporting employees’ self-directed career development and ensuring diversity in anticipation of global expansion. He has also made various efforts to strengthen the effectiveness of the risk management system as the Chairperson of the Risk Management Committee.

As an Executive Officer managing the Finance Division, he has leveraged the extensive knowledge he has cultivated as a manager and has been focusing on strategically balancing “execution of growth strategies,” “restoration of financial soundness,” and “appropriate shareholder returns.” To achieve sustainable growth and increase the corporate value of the

Sekisui House Group, by strengthening the effectiveness of corporate governance and the risk management system, the Company proposes to reelect him as a Director of the Board.

Knowledge, experiences and abilities particularly expected of each Director of the Board
Corporate management / Business strategy	●
International business / Overseas insight	●
Finance strategy and accounting	●
Technology and environment / Innovation
Improvement in sociability / Human resources development / Diversity	●
Governance / Risk management / Compliance	●

Candidate No.

Number of years in office as Director of the Board

(at the close of this Ordinary General Meeting of

Shareholders)

Attendance at the meetings of the Board of Directors (FY2025)

Special interest with the Company

6 years

13/13

(attendance at the meetings of the Board of Directors: 100%)

None

Toru Ishii

(November 3, 1966)

(59 years old) Reelection

Number of the Company’s Shares

owned

52,466 shares

Career summary, post and responsibility in the Company

Apr. 1990: Joined the Company

May 2012: Head of Development Department of the Company

Apr. 2014: Executive Officer, Acting Head of Development Department of the Company Apr. 2016: Managing Officer of the Company

Feb. 2019: In charge of Development Business, Acting Head of International Business Department

Feb. 2020: In charge of Development and Condominiums Businesses, Acting Head of International Business Department

Apr. 2020: Senior Managing Officer of the Company (current position)

In charge of Development, Condominiums, and International Businesses Apr. 2020: Director of the Board of the Company (current position)

Feb. 2021: In charge of Division of Development Business (current position) May 2024: Acting Head of International Business Headquarters (current position)

Significant concurrent post of other companies

Chairman of SEKISUI HOUSE U.S., Inc.

Reason for election as Director of the Board

Since joining the Company, he has experienced sales planning work in the urban development business and engaged in developing new markets such as the hotel development business and the office development business. Since 2012, he has been in charge of the development business, focusing on human resources development and demonstrating the comprehensive capabilities of the Group. In international business in particular, he has focused on achieving a balance between investment and return, while realizing M&As mainly in the U.S. He has been steadily promoting enhancement of the business foundation in new markets and development of the organizational structure.

Leveraging the creativity and courage he has demonstrated in pioneering new markets, he worked on making four U.S. group builders into “One Company” in order to establish a solid foundation for growth in the U.S. homebuilding business, and strongly led “proactive growth overseas.” To achieve sustainable growth and increase the corporate value of the Sekisui House Group by enhancing the diversity of the international business areas, which have made significant progress, and further strengthening the governance structure through proper implementation of the integration process, and maximizing business synergies in the development business, the Company proposes to reelect him as

a Director of the Board.

Knowledge, experiences and abilities particularly expected of each Director of the Board
Corporate management / Business strategy	●
International business / Overseas insight	●
Finance strategy and accounting
Technology and environment / Innovation
Improvement in sociability / Human resources development / Diversity	●
Governance / Risk management / Compliance

Candidate No.

Number of years in office as Director of the Board

(at the close of this Ordinary General Meeting of

Shareholders)

Attendance at the meetings of the Board of Directors (FY2025)

Special interest with the Company

1 year

9/9 (attendance at the meetings of the Board of Directors:

100%)

None

Yasushi Omura

(December 1, 1968)

(57 years old) Reelection

Number of the Company’s Shares owned

20,630 shares

Career summary, post and responsibility in the Company

Apr. 1991: Joined the Company

Aug. 2008: Head of Tottori Branch of the Company

Aug. 2009: Head of Okayama SHAWOOD-Home Branch of the Company Feb. 2014: Head of Okayama Branch of the Company

Apr. 2018: Head of East Shikoku Branch of the Company

Feb. 2019: Head of Kansai Daini Sales Administration Headquarters of the Company Feb. 2021: Head of Sekiwa Construction Business Headquarters of the Company

Apr. 2021: Executive Officer, Acting Head of Sekiwa Construction Business Headquarters of the Company

Apr. 2023: Managing Officer of the Company

Acting Head of Sekisui House Construction Business Headquarters of the Company Feb. 2024: President, Representative Director of the Board of Sekisui House Construction

Holdings, Ltd.

Apr. 2025: Senior Managing Officer of the Company (current position) Managing Detached Housing Business (current position)

Apr. 2025: Director of the Board of the Company (current position)

Feb. 2026: In charge of Remodeling Business (current position)

Reason for election as Director of the Board

He has held key positions in the built-to-order business area, including Head of the branch and Head of Sales Administration Headquarters. Since assuming the position of Managing Officer in April 2023, he led the initiatives to establish Sekisui House Construction Holdings, Ltd., and in February 2024, he was appointed President, Representative Director of the Board of that company. With a focus on expanding the business domain of the Sekisui House Construction Group through a consensus-based business management, which plays a key role on one of the Group’s core competencies, “construction capabilities,” he worked to achieve high-quality and safe construction while considering the local connections of each Sekisui House Construction company, update the performance evaluation system and other measures to enhance flexibility, and strengthen the corporate governance.

After assuming the position of Director of the Board in April 2025, he has further advanced the integrated business management between the Company and the Sekisui House Construction Group. As Managing Detached Housing Business, he has led the expansion of sales of high-value-added houses and the creation of high-quality housing stock, leveraging its enhanced “construction capabilities” and “design capabilities.” To achieve sustainable growth and increase the corporate value of the Sekisui House Group by demonstrating his consensus-based business management capabilities and enhancing the effectiveness of the governance and risk management systems in the Detached

Houses Business, the Company proposes to reelect him as a Director of the Board.

Knowledge, experiences and abilities particularly expected of each Director of the Board
Corporate management / Business strategy	●
International business / Overseas insight
Finance strategy and accounting
Technology and environment / Innovation	●
Improvement in sociability / Human resources development / Diversity
Governance / Risk management / Compliance	●

Candidate No.

Number of years in office as Director of the Board

(at the close of this Ordinary General Meeting of

Shareholders)

Attendance at the meetings of the Board of Directors (FY2025)

Special interest with the Company

– years

(attendance at the meetings of the Board of Directors: –)

None

Masaru Noma

(September 13, 1963)

(62 years old) New Election

Number of the Company’s Shares owned

14,013 shares

Career summary, post and responsibility in the Company

Apr. 1988: Joined the Company

Nov. 2019: Head of Comprehensive Housing R&D Institute of the Company

Apr. 2021: Executive Officer, Acting Head of Comprehensive Housing R&D Institute of the Company

Oct. 2021: Acting Head of Research & Development Headquarters Apr. 2022: Managing Officer of the Company

Sep. 2023: In charge of Production and Procurement, Acting Head of Research & Development Headquarters

Apr. 2024: Senior Managing Officer of the Company (current position)

In charge of Division of Technology and Production, Acting Head of Research & Development Headquarters

Feb. 2025: In charge of Division of Technology and Production

Feb. 2026: Managing Division of Technology and Production (current position)

Reason for election as Director of the Board

Since joining the Company, he has consistently accumulated extensive experience in technological areas, including research and development, component design, production technology, and product planning, and has served as Head of Comprehensive Housing R&D Institute. In April 2021, he was appointed Executive Officer, and from October of the same year, he served as Head of Research & Development Headquarters. He steadily promoted the development of a foundation supporting the advancement and evolution of “technical expertise,” one of the Group’s core competencies, while actively working to strengthen the governance structure in the technological area. Since assuming the position of Managing Officer in April 2022, he has concurrently been in charge of Production and Procurement, and upon his appointment as Senior Managing Officer in April 2024, he has broadly overseen the Division of Technology and Production. With high integrity and a strong enthusiasm for human resources development, he has promoted the strengthening of organizational capabilities toward the realization of our goal to “deliver the highest quality and technology” as set forth in the Corporate Philosophy.

To achieve sustainable growth and increase the corporate value of the Sekisui House Group by strongly promoting the advancement of comprehensive capabilities in the technological area through collaboration among domestic group companies, as well as accelerating “the transfer of Sekisui House technologies,” which is essential for building a growth foundation for the overseas business, the

Company proposes to newly elect him as a Director of the Board.

Knowledge, experiences and abilities particularly expected of each Director of the Board
Corporate management / Business strategy	●
International business / Overseas insight
Finance strategy and accounting
Technology and environment / Innovation	●
Improvement in sociability / Human resources development / Diversity
Governance / Risk management / Compliance	●

Candidate No.

Number of years in office as Outside Director of the Board (at the close of this Ordinary General Meeting of

Shareholders)

Attendance at the meetings of the Board of Directors (FY2025)

Special interest with the Company

8 years

13/13

(attendance at the meetings of the Board of Directors: 100%)

None

Yukiko Yoshimaru

(February 1, 1960)

(66 years old)

Number of the Company’s Shares owned

10,300 shares

Career summary, post and responsibility in the Company

Apr. 1982: Joined Oki Electric Industry Co., Ltd. Apr. 1998: Director of Oki America Inc.

Head of New York Office of Oki Electric Industry Co., Ltd.

Oct. 2004: Chief Manager of Diversity Development Office of NISSAN MOTOR CO., LTD. Apr. 2008: Joined Nifco Inc.

Jun. 2011: Executive Officer of Nifco Inc.

Apr. 2018: Outside Director of the Board of the Company (current position) Jun. 2019: Outside Director of Mitsui Chemicals, Inc.

Jun. 2021: Outside Director of Daiwabo Holdings Co., Ltd. (current position) Jun. 2024: Outside Director of Nichirei Corporation (current position)

Significant concurrent post of other companies Outside Director of Daiwabo Holdings Co., Ltd. Outside Director of Nichirei Corporation

Reason for election as Outside Director of the Board and summary of expected roles, etc.

She has a wide range of global experience including management experience as a director of domestic and overseas companies and M&A experience at a U.S. subsidiary of the major Japanese company. In particular, she has greatly contributed to constructive discussions and strengthening of the effectiveness of the Board of Directors meetings by providing her opinions based on a wealth of knowledge and experience in human resources management, diversity and corporate governance. In addition, since becoming the Chairperson of the Personnel Affairs and Remuneration Committee, she has led the revision of officer remuneration related to the Seventh Mid-Term Management Plan and contributed to improving the effectiveness of the Personnel Affairs and Remuneration Committee by clarifying the process of selecting and dismissing Directors of the Board, strengthening remuneration governance, and organizing CEO succession planning meetings. She also engages in dialogue with institutional investors and other stakeholders.

In addition, in order to establish a foundation for growth in the U.S. homebuilding business, she has sought to understand the business environment and key issues through direct dialogue with the senior management of local subsidiaries and has provided advice aimed at growth-oriented management from a medium- to long-term perspective.

To achieve sustainable growth and increase the corporate value of the Sekisui House Group, especially in the formulation of growth strategies from the perspectives of global business and diversity promotion, and in strengthening the management supervision function in areas including human capital

management, the Company proposes to reelect her as an Outside Director of the Board.

	Reelection
		Outside
Independent Director

Knowledge, experiences and abilities particularly expected of each Director of the Board
Corporate management / Business strategy	●
International business / Overseas insight	●
Finance strategy and accounting
Technology and environment / Innovation
Improvement in sociability / Human resources development / Diversity	●
Governance / Risk management / Compliance	●

Candidate No.

Number of years in office as Outside Director of the Board (at the close of this Ordinary General Meeting of

Shareholders)

Attendance at the meetings of the Board of Directors (FY2025)

Special interest with the Company

6 years

13/13

(attendance at the meetings of the Board of Directors: 100%)

None

Toshifumi Kitazawa

(November 18, 1953)

(72 years old)

Number of the Company’s Shares

owned

4,300 shares

Career summary, post and responsibility in the Company (See Notes 4 to 7 below.) Apr. 1977: Joined Tokio Marine & Fire Insurance Co., Ltd.

Jun. 2008: Managing Director of Tokio Marine & Nichido Anshin Life Insurance Co., Ltd. Jun. 2009: Senior Managing Director of Tokio Marine & Nichido Anshin Life Insurance Co.,

Ltd.

Jun. 2010: President & Director of Tokio Marine & Nichido Anshin Life Insurance Co., Ltd. Jun. 2010: Director of Tokio Marine Holdings, Inc.

Apr. 2014: Vice President & Director of Tokio Marine & Nichido Fire Insurance Co., Ltd. Jun. 2014: Vice President Executive Officer of Tokio Marine Holdings, Inc.

Apr. 2016: President & Chief Executive Officer of Tokio Marine & Nichido Fire Insurance Co., Ltd.

Jun. 2016: Director of Tokio Marine Holdings, Inc.

Apr. 2019: Vice Chairman & Director of Tokio Marine & Nichido Fire Insurance Co., Ltd. Jun. 2019: Member of the Board of Directors (Outside) (Member of the Audit & Supervisory

Committee) of MUFG Bank, Ltd.

Jun. 2019: Outside Director of Mitsubishi Logistics Corporation (current position) Apr. 2020: Outside Director of the Board of the Company (current position)

Apr. 2022: Advisor of Tokio Marine & Nichido Fire Insurance Co., Ltd. (current position)

Significant concurrent post of other companies

Advisor of Tokio Marine & Nichido Fire Insurance Co., Ltd. Outside Director of Mitsubishi Logistics Corporation

Reason for election as Outside Director of the Board and summary of expected roles, etc. Having held key positions at a major insurance company, he has extensive knowledge and experience in areas including global business, M&A, risk management and compliance, as well as abundant achievements and experience as a manager.

Since becoming Chairperson of the Board of Directors in May 2021, he has been leading a steady improvement in the substance of constructive discussions and the effectiveness of the Board of Directors meetings by steering proceedings flexibly to further activate deliberations on medium- and long-term management issues, while also engaging in dialogue with institutional investors and other stakeholders. He has also been contributing to the enhancement of deliberations as a member of the Personnel Affairs and Remuneration Committee of the Company by providing advice based on his experience as a top executive.

In addition, in order to establish a foundation for growth in the U.S. homebuilding business, he has sought to understand the business environment and key issues through direct dialogue with the senior management of local subsidiaries and has provided advice aimed at growth-oriented management from a medium- to long-term perspective.

To achieve sustainable growth and increase the corporate value of the Sekisui House Group, especially in the formulation of growth strategies from the perspective of global business, and in strengthening the management supervision function in areas including M&A and other financial strategies, risk management and compliance, the Company proposes to reelect him as an Outside Director of the

Board.

	Reelection
		Outside
Independent Director

Knowledge, experiences and abilities particularly expected of each Director of the Board
Corporate management / Business strategy	●
International business / Overseas insight	●
Finance strategy and accounting	●
Technology and environment / Innovation
Improvement in sociability / Human resources development / Diversity
Governance / Risk management / Compliance	●

Candidate No.

Number of years in office as Outside Director of the Board (at the close of this Ordinary General Meeting of

Shareholders)

Attendance at the meetings of the Board of Directors (FY2025)

Special interest with the Company

5 years

13/13

(attendance at the meetings of the Board of Directors: 100%)

None

Yoshimi Nakajima

(December 16, 1956)

(69 years old)

Number of the Company’s Shares

owned

3,600 shares

Career summary, post and responsibility in the Company (See Note 8 below.)

Apr. 1980: Joined The Yasuda Trust & Banking Co., Ltd. (currently Mizuho Trust & Banking Co., Ltd.)

Feb. 1982: Joined AVON Products Co., LTD. (currently FMG & MISSION CO., LTD.) May 1997: Vice President of Citibank, N.A.

Jun. 2000: Senior General Manager of Societe Generale Securities Ltd. Apr. 2002: Vice President of American Express International, Inc. (Japan)

Aug. 2011: Country Manager (President) of American Express International, Inc. (Singapore) Feb. 2014: Senior Vice President of American Express International, Inc. (Japan)

Apr. 2014: President and Representative Director of American Express Japan Co., Ltd. Jun. 2017: Outside Director of Yamaha Corporation

Jun. 2017: Outside Director of AEON Financial Service Co., Ltd. (current position) Jun. 2018: Outside Director of Japan Freight Railway Company (current position) Sep. 2018: External Director of ULVAC, Inc. (current position)

Apr. 2021: Specially Appointed Professor of The Graduate School of Project Design (current position)

Outside Director of the Board of the Company (current position)

Significant concurrent post of other companies Outside Director of AEON Financial Service Co., Ltd. Outside Director of Japan Freight Railway Company External Director of ULVAC, Inc.

Specially Appointed Professor of The Graduate School of Project Design

Reason for election as Outside Director of the Board and summary of expected roles, etc. Having held key positions in domestic and overseas companies, she has extensive experience in financial strategy, M&A, and other areas by serving as the head of Asian and Japanese subsidiaries of global financial institutions. She has embodied diversity in corporate management in an environment where diversity in senior management is considered to be natural.

Since April 2021, she has been serving as Outside Director of the Board of the Company and has greatly contributed to constructive discussions and strengthening of the effectiveness of the Board of Directors meetings by actively expressing frank opinions that promote appropriate risk-taking and management reform, while also proactively sharing her insights through exchange of opinions with the Company’s senior management.

Outside Director of the Board.

	Reelection
		Outside
Independent Director

Knowledge, experiences and abilities particularly expected of each Director of the Board
Corporate management / Business strategy	●
International business / Overseas insight	●
Finance strategy and accounting	●
Technology and environment / Innovation
Improvement in sociability / Human resources development / Diversity	●
Governance / Risk management / Compliance

Candidate No.

Number of years in office as Outside Director of the Board (at the close of this Ordinary General Meeting of

Shareholders)

Attendance at the meetings of the Board of Directors (FY2025)

Special interest with the Company

4 years

13/13

(attendance at the meetings of the Board of Directors: 100%)

None

Shinichi Abe

(August 7, 1968)

(57 years old)

Number of the Company’s Shares

owned

1,900 shares

Career summary, post and responsibility in the Company

May 1993: Joined Axiomatics Corporation Nov. 1995: Joined Asahi Audit Corporation Jan. 1998: Joined J.D. Edwards Japan K.K. Nov. 2003: Joined PeopleSoft Japan K.K.

Apr. 2005: Director, International Business, Availvs Corporation

Dec. 2005: Director, Applications Business Group, Oracle Information Systems Japan K.K. Aug. 2006: Vice President in charge of Applications Business Headquarters and General

Manager of Global Strategic Accounts of ORACLE CORPORATION JAPAN Feb. 2011: Managing Director, Enterprise Business, Google Japan, G.K.

Jan. 2017: Managing Director of Google Cloud Japan, G.K.

Apr. 2020: Representative Director, President and CEO of MNES Inc. (current position) Apr. 2022: Outside Director of the Board of the Company (current position)

Jun. 2025: Outside Director of MACNICA HOLDINGS, INC. (current position)

Significant concurrent post of other companies Representative Director, President and CEO of MNES Inc. Outside Director of MACNICA HOLDINGS, INC.

Reason for election as Outside Director of the Board and summary of expected roles, etc. Having worked for an overseas consulting firm and software vendors, he was involved in the launch of Google’s cloud business. At that business, he supervised its Asia-Pacific operations. As such, he has extensive experience in the global business environment in the IT and digital fields.

In particular, when Google launched cloud services business for Japanese companies, he gained the deep trust of many client companies and promoted digital innovation together. Currently, he serves as Representative Director, President and CEO of a venture company providing teleradiology (remote medical image diagnosis) services, a firm that he has had contact with since its foundation.

Since April 2022, he has been serving as Outside Director of the Board of the Company and has greatly contributed to constructive discussions and strengthening of the effectiveness of the Board of Directors meetings by actively expressing frank opinions from the perspective of global operations and digitally-driven business model transformation and disseminating information to promote innovation, while also providing insightful views on innovation at meetings for the exchange of opinions with the Company’s senior management.

To achieve sustainable growth and increase the corporate value of the Sekisui House Group, especially in the formulation of alliances and growth strategies in the Group-wide new service business fields, including the international business, and in strengthening the management supervision function, including supervision of the area of human resources development, the Company proposes to reelect him as an Outside Director of the Board.

	Reelection
		Outside
Independent Director

Knowledge, experiences and abilities particularly expected of each Director of the Board
Corporate management / Business strategy	●
International business / Overseas insight	●
Finance strategy and accounting
Technology and environment / Innovation	●
Improvement in sociability / Human resources development / Diversity	●
Governance / Risk management / Compliance

Candidate No.

Number of years in office as Outside Director of the Board (at the close of this Ordinary General Meeting of

Shareholders)

Attendance at the meetings of the Board of Directors (FY2025)

Special interest with the Company

1 year

9/9 (attendance at the meetings of the Board of Directors:

100%)

None

Yukiko Kuroda

(See Note 9 below.) (September 24, 1963)

(62 years old)

Number of the Company’s Shares

owned

100 shares

Career summary, post and responsibility in the Company

Apr. 1986: Joined Sony Corporation

Jan. 1991: Representative Director of People Focus Consulting Co., Ltd.

Jun. 2010: Outside Audit & Supervisory Board Member of Astellas Pharma Inc. Mar. 2011: Outside Director of CAC Co., Ltd. (currently CAC Holdings Corporation) Apr. 2012: Director and Founder of People Focus Consulting Co., Ltd.

Jun. 2013: Outside Director of Marubeni Corporation Jun. 2015: Outside Director of Mitsui Chemicals, Inc. Jun. 2018: Outside Director of Seven Bank, Ltd.

Jun. 2018: Independent Director of Terumo Corporation

Jun. 2022: Independent Director of Obayashi Corporation (current position)

Aug. 2022: Outside Director of ORACLE CORPORATION JAPAN (current position) Mar. 2024: Advisor and Founder of People Focus Consulting Co., Ltd. (current position) Apr. 2025: Outside Director of the Board of the Company (current position)

Jun. 2025: Outside Director of Santen Pharmaceutical Co., Ltd. (current position)

Significant concurrent post of other companies

Advisor and Founder of People Focus Consulting Co., Ltd. Independent Director of Obayashi Corporation

Outside Director of ORACLE CORPORATION JAPAN

Outside Director of Santen Pharmaceutical Co., Ltd.

Reason for election as Outside Director of the Board and summary of expected roles, etc.

In January 1991, she founded her own company to commercialize employee training for Japanese companies that have become affiliated with foreign companies. As a top executive, she has been involved in consulting businesses such as organizational development, global human resource development, and diversity promotion. In addition to her management experience as a top executive since establishing her own company, she has also provided executive coaching for senior management and served as an outside director of several listed companies. She possesses knowledge of corporate management across a wide range of industries and business types.

Since assuming the position of Outside Director of the Board of the Company in April 2025, she has greatly contributed to constructive discussions and strengthening of the effectiveness of the Board of Directors by actively expressing frank opinions based on her own experience, particularly regarding management issues in the fields of human resource management, governance, and compliance. She has also been contributing to the enhancement of deliberations as a member of the Personnel Affairs and Remuneration Committee of the Company by providing advice based on her experience and knowledge.

To achieve sustainable growth and increase the corporate value of the Sekisui House Group, especially in the Company which aims to become a leading company in ESG management by contributing to the realization of a sustainable society and taking initiatives to promote diversity under the Global Vision, the Company expects her to make significant efforts to strengthen the management supervision function in areas including human resources development, human capital management, and sustainability. Accordingly, the Company proposes to reelect her as an Outside Director of the Board.

	Reelection
		Outside
Independent Director

Knowledge, experiences and abilities particularly expected of each Director of the Board
Corporate management / Business strategy	●
International business / Overseas insight	●
Finance strategy and accounting
Technology and environment / Innovation
Improvement in sociability / Human resources development / Diversity	●
Governance / Risk management / Compliance	●

Notes:

The Company designated Ms. Yukiko Yoshimaru, Mr. Toshifumi Kitazawa, Ms. Yoshimi Nakajima, Mr. Shinichi Abe, and Ms. Yukiko Kuroda
as “Independent Directors” and submitted notification to that effect to the Tokyo Stock Exchange, Inc.
The Company will enter into a directors and officers liability insurance contract with an insurance company pursuant to Article 430-3, Paragraph 1 of the Companies Act, and the contract is designed to cover damages that may arise from the insured directors and officers assuming responsibility for the execution of their duties or receiving claims related to the pursuit of such responsibility.
If the proposal is approved, each candidate will be included as the insured of the said insurance contract.
The Company entered into limited liability agreements with Ms. Yukiko Yoshimaru, Mr. Toshifumi Kitazawa, Ms. Yoshimi Nakajima, Mr. Shinichi Abe, and Ms. Yukiko Kuroda that if they cause damages to the Company by neglect of the duty as an Outside Director of the Board, where their conduct is deemed to be made in good faith without gross negligence, their liability is without fail limited to the minimum liability amount specified in Article 425, Paragraph 1 of the Companies Act. If those Outside Board Directors’ reelection is approved, the Company will continue the above-mentioned limited liability agreements with them.
Although the Company has business relationships as a policyholder and nonlife insurance agent with Tokio Marine & Nichido Fire Insurance Co., Ltd. where Mr. Toshifumi Kitazawa serves as an Advisor, he meets the Criteria for Independence of Outside Officers established by the Company. The annual amount of business transactions between the companies is less than 1% of ordinary income of Tokio Marine & Nichido Fire Insurance Co., Ltd. and less than 1% of net sales of the Company.
MUFG Bank, Ltd., where Mr. Toshifumi Kitazawa served as a Member of the Board of Directors (Outside) (Member of the Audit & Supervisory Committee), is a major lender to the Company. However, because Mr. Kitazawa was not an executive of MUFG Bank, Ltd. or a former employee of MUFG Bank, Ltd., the Company deems that there is no risk of conflict of interest with general shareholders.
Tokio Marine & Nichido Fire Insurance Co., Ltd., where Mr. Toshifumi Kitazawa served as a Director from April 2014 to March 2022, received a business improvement order under the Insurance Business Act from the Japan Financial Services Agency, effective December 26, 2023, due to actions considered to contravene the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade (the “Anti-monopoly Act”), inappropriate actions in view of the purpose of the aforementioned Act, and underlying systematic problems. Tokio Marine & Nichido Fire Insurance Co., Ltd. also received a cease and desist order and a surcharge payment order under the Anti-monopoly Act from the Japan Fair Trade Commission on November 1, 2024, for violating the said act (prohibition of unreasonable restraint of trade). Furthermore, the company received a business improvement order under the Insurance Business Act from the Japan Financial Services Agency, effective March 24, 2025, due to actions considered likely to contravene the Act on the Protection of Personal Information and inappropriate actions in view of the purpose of the aforementioned Act, actions considered likely to contravene the Unfair Competition Prevention Act and inappropriate actions in view of the purpose of the aforementioned Act, and underlying systematic problems.
MUFG Bank, Ltd., where Mr. Toshifumi Kitazawa served as a Member of the Board of Directors (Outside)(Member of the Audit & Supervisory Committee), received a business improvement order from the Japan Financial Services Agency on June 24, 2024 for inappropriate sharing of customer information with a securities company and other companies of the MUFG Group, inadequate arrangements for managing corporate information, and the conduct of securities-related business that is not permitted for banks. Although Mr. Kitazawa was not aware of the situation until he was notified, he had spoken about the importance of compliance with laws and regulations at meetings of the Board of Directors and other occasions. Furthermore, after the situation became known, he fulfilled his responsibilities, including monitoring the response to the issues raised at meetings of the board of directors.
Japan Freight Railway Company, where Ms. Yoshimi Nakajima serves as an Outside Director, received a business improvement order for transportation safety from the Ministry of Land, Infrastructure, Transport and Tourism on October 31, 2024 in relation to misconduct in wheelset assembly work that was discovered in September 2024. Although Ms. Nakajima was not aware of the facts of this case beforehand, she has regularly made recommendations at meetings of the Board of Directors and other occasions from the perspective of strengthening internal controls and compliance with laws and regulations. After she became aware of the facts for this case, she has fulfilled her responsibilities by providing recommendations regarding the implementation of the whistleblowing system and the analysis of the root causes.
Ms. Yukiko Kuroda’s name on the family register is Yukiko Matsumoto.

(Reference) Reasons for selecting each item in the skill matrix

Skill items

Reasons for selection

Corporate management Business strategy

The Company is a leading company in the housing industry with the cumulative number of homes built exceeding 2.70 million worldwide. In order to formulate a sustainable growth strategy amidst a drastically changing business environment, Directors of the Board with management experience and a proven track record in the housing, construction, and urban development fields are needed. In addition, in order to realize and promote the global vision of “Propose happiness through the integration of technologies, lifestyle design and services,” the Company needs Directors of the Board with experience in different industries, especially management experience and a proven track in the field of consumer services such as health, connection, and learning as well as knowledge and experience that contribute to the transformation of business models through

the use of digital technology.

International business Overseas insight

In order to formulate growth strategies and supervise the management of the international business, which is a growth area, it is necessary to have Directors of the Board who have experience in overseas business

management and extensive knowledge and experience in overseas cultural life and business environment.

Finance strategy and accounting

Directors of the Board with solid knowledge and experience in the fields of finance and accounting are needed to formulate financial strategies that will not only ensure accurate financial reporting, but also build a solid financial foundation, promote growth investments (including M&A) for sustainable enhancement of corporate

value, and enhance shareholder returns.

Technology and environment Innovation

In order to realize the supply of high-quality housing that combines safety, security, and comfort with advanced technology, and to further advance and develop our advanced environmental technology and solid construction capabilities, the Company needs Directors of the Board who have a track record of various innovations along with the knowledge and experience to enable proactive efforts to address global environmental issues from a

corporate management perspective.

Improvement in sociability Human resources development

Diversity

In order to provide homes that make our customers feel more content and address various social challenges through its business activities, the Company needs to develop human resource strategies that enable each employee to maximize their potential, and the Company needs Directors of the Board with solid knowledge

and experience in the field of human resources development, including the promotion of diversity and inclusion.

Governance Risk management

Compliance

The establishment of an appropriate governance structure is the foundation for sustainable enhancement of corporate value, and in order to improve the effectiveness of management supervision by the Board of Directors, Directors of the Board with solid knowledge and experience in the fields of corporate governance, risk

management, and compliance are needed.

Proposal No. 4: Election of Two Audit and Supervisory Board Members

The terms of office of Audit and Supervisory Board Members Mr. Takashi Ogino and Mr. Ryuichi Tsuruta will expire at the close of this Ordinary General Meeting of Shareholders. The Company proposes to elect two Audit and Supervisory Board Members.

Candidate No.

Number of years in office as Audit and Supervisory Board Member

(at the close of this Ordinary General Meeting of

Shareholders)

Attendance at the meetings of the Board of Directors and the Audit and Supervisory Board (FY2025)

Special interest with the Company

4 years

13/13

(attendance at the meetings of the Board of Directors: 100%)

18/18

(attendance at the meetings of the Audit and Supervisory Board: 100%)

None

Takashi Ogino

(November 25, 1959)

(66 years old) Reelection

Number of the Company’s Shares

owned

6,117 shares

Career summary and post in the Company

Apr. 1982: Joined the Company

Aug. 2014: Head of Utsunomiya Branch of the Company Feb. 2020: Head of Auditing Department of the Company Feb. 2021: Head of Auditing Department of the Company Apr. 2021: Operating Officer of the Company

Apr. 2022: Standing Audit and Supervisory Board Member of the Company (current position)

Reason for election as Audit and Supervisory Board Member

Since joining the Company, he has served in its sales operations for approximately 35 years as a housing sales representative, sales lead of sales offices, a member of the Sales Administration Headquarters, and Head of a branch. In 2017, he was transferred to the Auditing Department. In 2020, he was appointed Head of the Auditing Department, and in 2021, he was appointed Operating Officer and Head of the Auditing Department, where he promoted the strengthening of the internal audit division and the building of a network among governance personnel. Since assuming the position of Standing Audit and Supervisory Board Member of the Company in April 2022, he has made significant contributions to improving the effectiveness of the Board of Directors and the Audit and Supervisory Board by expressing frank opinions from the perspective of frontline operations, leveraging his broad information network within the Sekisui House Group.

To strengthen the audit system of the Company with his high integrity and management experience in the field of sales as well as his capability to gather information cultivated in the internal audit division, the Company proposes to reelect him as an Audit and Supervisory Board Member.

This proposal has already received approval from the Audit and Supervisory Board. The candidates for Audit and Supervisory Board Member are as follows:

Knowledge, experiences and abilities particularly expected of each Audit and Supervisory Board Member
Corporate management	●
International business / Overseas insight
Quality and technology / Business process	●
Finance and accounting / Disclosure
Legal affairs
Governance / Risk management / Compliance	●

Note:

The Company will enter into a directors and officers liability insurance contract with an insurance company pursuant to Article 430-3, Paragraph 1 of the Companies Act, and the contract is designed to cover damages that may arise from the insured directors and officers assuming responsibility for the execution of their duties or receiving claims related to the pursuit of such responsibility.

Mr. Takashi Ogino will be included as the insured of the said insurance contract.

Candidate No.

Number of years in office as Outside Audit and Supervisory Board Member (at the close of this Ordinary General Meeting of

Shareholders)

Attendance at the meetings of the Board of Directors and the Audit and Supervisory Board (FY2025)

Special interest with the Company

(attendance at the meetings of the Board of Directors: –) -

(attendance at the meetings of the Audit and Supervisory

Board: –)

None

Nobuo Hanada

(April 8, 1960)

(65 years old)

Number of the Company’s Shares

owned

– shares

Career summary and post in the Company

Apr. 1983: Joined Fuji Photo Film Co., Ltd. (currently FUJIFILM Holdings Corporation) Oct. 2006: Senior Operations Manager, Accounting and Finance Division of FUJIFILM

Corporation

Nov. 2012: Senior Operations Manager, Accounting Group, Corporate Planning Division of FUJIFILM Holdings Corporation

Jun. 2013: General Manager, Audit Division of FUJIFILM Holdings Corporation General Manager, Audit Division of FUJIFILM Corporation

Sep. 2017: General Manager, Global Audit Division of FUJIFILM Holdings Corporation

Jun. 2020: Full-time Audit & Supervisory Board Member of FUJIFILM Holdings Corporation (retired in June 2024)

Full-time Audit & Supervisory Board Member of FUJIFILM Corporation (retired in June 2024)

Reason for election as Outside Audit and Supervisory Board Member

He has extensive business experience in areas including accounting and financial reporting, corporate management planning, and global auditing at a specialty chemicals manufacturer operating globally. From June 2020, he served as a full-time Standing Audit and Supervisory Board Member of the company. At the company, he experienced a crisis of losing its core business and a major transformation of its business model, while making significant efforts to enhance its global auditing system.

The Company proposes to newly elect him as an Outside Audit and Supervisory Board Member, with expectation that he will contribute to strengthening the Company’s management supervision function and building a better governance structure though timely and accurate opinions based on his deep insight and unique perspective grounded in practical experience.

	New Election
		Outside
Independent Auditor

Knowledge, experiences and abilities particularly expected of each Audit and Supervisory Board Member
Corporate management
International business / Overseas insight	●
Quality and technology / Business process
Finance and accounting / Disclosure	●
Legal affairs
Governance / Risk management / Compliance	●

Notes:

The Company will designate Mr. Nobuo Hanada as an “Independent Auditor” and submit notification to that effect to the Tokyo Stock Exchange,
Inc.
The Company will enter into a limited liability agreement with Mr. Nobuo Hanada that if he causes damages to the Company by neglect of the duty as an Outside Audit and Supervisory Board Member, where his conduct is deemed to be made in good faith without gross negligence, his liability is without fail limited to the minimum liability amount specified in Article 425, Paragraph 1 of the Companies Act.
The Company will enter into a directors and officers liability insurance contract with an insurance company pursuant to Article 430-3, Paragraph 1 of the Companies Act, and the contract is designed to cover damages that may arise from the insured directors and officers assuming responsibility for the execution of their duties or receiving claims related to the pursuit of such responsibility.

If Mr. Nobuo Hanada’s election is approved, he will be included as the insured of the said insurance contract.

(Reference) List of Audit and Supervisory Board Members after this Ordinary General Meeting of Shareholders (scheduled) and knowledge, experiences and abilities expected of each Audit and Supervisory Board Member (including candidates)

Name	Corporate management	International business Overseas insight	Quality and technology Business process	Finance and accounting Disclosure	Legal affairs	Governance Risk management Compliance
Takashi Ogino	●		●			●
Osamu Minagawa	●		●			●
Yoritomo Wada		●		●		●
Yuko Tamai		●		●	●	●
Nobuo Hanada		●		●		●

* This chart indicates certain knowledge, experiences, and abilities which the Company particularly expects each Audit and Supervisory Board Member (including the candidates) to have for his/her duties, not necessarily what each Audit and Supervisory Board Member (including the candidates) currently has in fact.

[Reasons for selecting each item in the skill matrix]

Skill items	Reasons for selection
Corporate management	In order to ensure an appropriate audit system through exchange of opinions with senior management, the Company needs Audit and Supervisory Board Members who have management experience in the housing, construction, and urban development fields and who have acquired a sufficient understanding of the Company’s corporate culture and values through their experience.
International business Overseas insight	Amidst the expansion of international business, the Company needs Audit and Supervisory Board Members who possess abundant knowledge and experience that contribute to audits of overseas business, such as coordinating with internal audit divisions and Accounting Auditors of overseas subsidiaries.
Quality and technology Business process	The Company needs Audit and Supervisory Board Members who have a sufficient understanding of the Company’s technical expertise and construction expertise for supplying high-quality housing, etc. that is safe, secure, and comfortable, as well as its business processes (including internal control).
Finance and accounting Disclosure	The Company needs Audit and Supervisory Board Members who possess sufficient knowledge regarding financial accounting necessary for auditing financial reporting and coordinating with the Accounting Auditor, as well as abundant knowledge and experience in the disclosure field such as domestic and overseas disclosure regulations.
Legal affairs	In order to strengthen the Company’s audit system, including the one for international business which is a growth area, the Company needs Audit and Supervisory Board Members who have solid knowledge and experience regarding trends in domestic and overseas laws and regulations.
Governance Risk management Compliance	As an independent body responsible for corporate governance, this is a base skill necessary for all Audit and Supervisory Board Members to strive to monitor and verify the establishment and operation of the internal control system and contribute to the sound and sustainable growth of the Company.

(Reference) List of officers after this Ordinary General Meeting of Shareholders (scheduled)

Name	Gender	Post and responsibility in the Company and Group companies (scheduled)
Yoshihiro Nakai	Male	Representative Director of the Board, CEO President, Executive Officer Member, Personnel Affairs and Remuneration Committee
Satoshi Tanaka	Male	Representative Director of the Board Executive Vice President, Executive Officer Managing Division of Finance, Human Resources and Auditing, In charge of Division of Administration Member, Personnel Affairs and Remuneration Committee
Toru Ishii	Male	Director of the Board Senior Managing Officer In charge of Division of Development Business, Head of International Business Headquarters
Yasushi Omura	Male	Director of the Board Senior Managing Officer Managing Detached Housing Business In charge of Remodeling Business
Masaru Noma	Male	Director of the Board Senior Managing Officer Managing Division of Technology and Production
Yukiko Yoshimaru	Female	Outside Director of the Board Chairperson, Personnel Affairs and Remuneration Committee
Toshifumi Kitazawa	Male	Outside Director of the Board Chairperson, Board of Directors Member, Personnel Affairs and Remuneration Committee
Yoshimi Nakajima	Female	Outside Director of the Board
Shinichi Abe	Male	Outside Director of the Board
Yukiko Kuroda	Female	Outside Director of the Board Member, Personnel Affairs and Remuneration Committee
Takashi Ogino	Male	Standing Audit and Supervisory Board Member
Osamu Minagawa	Male	Standing Audit and Supervisory Board Member
Yoritomo Wada	Male	Outside Audit and Supervisory Board Member
Yuko Tamai	Female	Outside Audit and Supervisory Board Member
Nobuo Hanada	Male	Outside Audit and Supervisory Board Member

If Proposal No. 3 “Election of 10 Directors of the Board” and Proposal No. 4 “Election of Two Audit and Supervisory Board Members” are approved as originally proposed, the composition of the Board of Directors and the Audit and Supervisory Board after this Ordinary General Meeting of Shareholders will be as follows.

The Business Report for the 75th fiscal year (February 1, 2025 – January 31, 2026)1. Business Conditions of the Corporate Group

Progress and Results of Sekisui House Group
During the fiscal year under review, the outlook for the global economy became increasingly uncertain due to factors including developments surrounding the tariff policies of the United States. This, together with persistent geopolitical risks, made it necessary to continue to closely monitor the price situation, as influenced by the monetary and trade policies of various countries, as well as fluctuations in international financial and capital markets. In Japan, while it was necessary to keep in mind the risk of a downturn in business conditions due to factors such as the impact of the tariff policies of the United States, and although an impact on consumer sentiment was seen due to price hikes and other factors, the Japanese economy showed signs of a pickup in personal consumption, supported by ongoing improvements in the employment and income environment.
In Japan’s housing market, despite indications of a rush in demand in anticipation of the revision of the Building Energy Efficiency Act, the number of new housing starts of owner-occupied houses and rental houses weakened, partly due to a pullback from the rush in demand and the impact of soaring construction costs. On the other hand, in the United States, although there remains strong latent demand for new housing against the backdrop of a chronic shortage of housing supply, new housing starts lacked confidence due to rising construction costs and other factors in addition to a slowdown in demand caused by customers continuing to take a wait-and-see attitude because of the uncertain outlook from factors such as falling mortgage rates and tariff policies.
In such a business environment, to achieve the Group’s Global Vision for 2050 “Make Home the Happiest Place in the World,” we have actively promoted various high-value-added proposals and other initiatives that integrate technologies, lifestyle design and service, based on the Sixth Mid-Term Management Plan (FY2023 to FY2025), which sets “Stable Growth in Japan and Proactive Growth Overseas” as its fundamental policy.
In the consolidated fiscal year under review, which is the final year of the Sixth Mid-Term Management Plan (FY2023 to FY2025), net sales were
¥4,197,922 million (up 3.4% year on year), operating profit was ¥341,402 million (up 3.0% year on year), ordinary profit was ¥327,800 million (up 8.7% year on year), and profit attributable to owners of parent was ¥232,095 million (up 6.6% year on year).
In addition, results over the three years of the Sixth Mid-Term Management Plan exceeded the plan formulated at the time of its establishment.
The Custom Detached Houses Business recorded net sales of ¥478,952 million, down 0.0% year on year, and operating profit of ¥48,035 million, up 4.3% year on year, during the fiscal year under review.
We worked on initiatives such as utilizing “life knit design,” a system for proposing designs that reflect each customer’s sense of beauty in housing, enhancing proposal capabilities through Group cooperation, and strengthening our production system on a house-by-house basis that extends from production to shipment. Our efforts were also boosted by Japanese government measures such as the Green Housing for Child-rearing Support Project. As a result, orders remained steady.
As part of our strategy by price range, we focused on expanding the sale of mid- to high-end products, including integrated proposals combining land and 2nd-range products, as well as branding initiatives for 3rd-range products led by our DESIGN OFFICE team. In 1st-range products, we have contributed to the creation of high-quality housing stock in Japan by actively promoting the SI*1Business, a joint construction business where the Group companies undertake the construction of the foundations and structural frame-work of wooden houses built by partner companies.
Through proposals for high-value-added houses and services such as “Green First ZERO” net zero energy houses (ZEH), which achieved a record-high 96% ratio of detached ZEH homes*2in FY2024, the Family Suite large living room, “PLATFORM HOUSE touch” smart home service linked to floor plans, and furniture and interior design, we promoted the enhancement of the custom detached housing brand.
*1 SI: “S” refers to skeleton or structural frame-work and “I” refers to infill or exterior and interior.
*2 Ratio of detached homes ZEH: This indicator shows the portion of custom detached houses (excluding contracted and for-sale housing in Hokkaido) that the Company built during the fiscal year that were ZEH (Net Zero Energy House). Period was from April 1, 2024 to March 31, 2025.
The Rental Housing and Commercial Buildings Business recorded net sales of ¥564,813 million, up 3.6% year on year, and operating profit of
¥87,826 million, up 7.4% year on year for the fiscal year under review.
We promoted business expansion in strategically chosen urban areas (S and A areas) where occupancy demand is expected to increase over the long term, and within these areas, especially in highly convenient areas proximate to stations (S areas), we focused on expanding the sale of three- to four-story rental housing builds created using our original construction method and adoption of net zero energy rental housing Sha Maison ZEH. Through our price leader strategies based on these area marketing initiatives and proposals for long-term stable management backed by high occupancy rates and rent levels, orders for rental housing remained solid. In particular, in Sha Maison ZEH, residents appreciate being able to realize the benefits of savings in utility costs thanks to systems in which photovoltaic panels are connected to each unit so that residents can sell their own electricity individually. This has led to high occupancy rates. As a result, the proportion of orders for ZEH residential units across all of our rental housing orders reached 77%.
Orders in corporate and public real estate (CRE and PRE) businesses also remained strong due to the enhancement of proposals for ESG solutions and strengthened efforts to address corporate business succession needs. We promoted the enhancement of proposals in non-residential construction such as “Green First Office” zero energy building (ZEB), which leverages our expertise and technologies developed in the custom detached houses business for office spaces, etc.
The Architectural/Civil Engineering Business recorded net sales of ¥302,293 million, down 7.0% year on year, and operating profit of ¥22,049 million, up 44.9% year on year, during the fiscal year under review.
Both architectural and civil engineering businesses saw improved profitability due to solid progress in large-scale construction projects and the acquisition of additional and modified projects, etc. In the architectural business, especially, profitability improved for large-scale government buildings, in addition to the progress in passing on soaring materials costs and rising personnel expenses in order prices. The environment for order volumes also remained favorable and orders were strong for large-scale government buildings in the architectural business and private-sector projects in the civil engineering business.
The Rental Housing Management Business recorded net sales of ¥712,621 million, up 3.7% year on year, and operating profit of ¥68,996 million, up 21.5% year on year, during the fiscal year under review.
The number of housing units under management increased due to continued orders for Sha Maison rental housing supplied in prime locations, mainly in the S and A areas, as well as progress in establishing systems to enable the provision of more detailed services to owners and residents by Sekisui House Sha Maison PM companies, which began offering its services this fiscal year as group companies specializing in the rental business. For existing managed properties, we are maintaining a high occupancy rate through strategic leasing activities aimed at shortening the duration of vacancies, such as the time required for restoration work after move-outs and the period between new applications and actual move-ins. At the same time, we are focusing on increasing the rent by implementing value-enhancing renovations and other measures at the time of tenant change. We also worked to enhance customer satisfaction and the “Sha Maison” brand value by promoting DX, including one-stop handling of move-in and move-out procedures using apps and blockchain technology, as well as expanding post-move-in troubleshooting services, etc.
The Remodeling Business recorded net sales of ¥187,958 million, up 2.2% year on year, and operating profit of ¥27,966 million, up 5.0% year on year for the fiscal year under review.
In the custom detached houses business, Sekisui House Support Plus, Ltd., which is responsible for the Group’s after-sale service business, began offering its services this fiscal year. This has further strengthened collaboration within the Group and improved communication with owners. In particular, we strengthened our large-scale renovation proposals incorporating the “life knit design” concept in lifestyle proposal remodeling that meets changes in family structure and lifestyles. We also strengthened our proposals for environment friendly remodeling, such as insulation renovations and the introduction of the latest energy-saving, energy-generating, and energy-storing equipment, by utilizing government and other subsidies. These efforts focused on Idocoro Dan-netsu thermal insulation upgrades, which target the areas of the home where customers spend the most time, as well as insulation improvements around doors and windows. For rental housing, we focus on conducting market analysis by area, layout, and building age, and on providing proposals for full renovations, such as layout alterations, which contribute to enhancing owners’ asset value. As a result of these efforts, overall orders in our remodeling business remained strong.
The Real Estate and Brokerage Business recorded net sales of ¥394,509 million, up 10.8% year on year, and operating profit of ¥30,915 million, up 6.7% year on year, during the fiscal year under review.
In particular, at Sekisui House Real Estate, Ltd., which began offering its services this fiscal year as a group company specializing in the real estate
and brokerage business, the integration of the business, aiming to become “the top regional real estate company specializing in housing,” which had
been divided among six companies until the previous fiscal year, into a single entity led to the development of an enhanced organizational structure that enabled faster sharing of information and issues necessary to strengthen the purchase of high-quality real estate for sale and the development of sales channels. In the real estate business, the sale of real estate for sale, particularly land for housing, progressed solidly as a result of efforts to expand and deepen channels for inquiries from business corporations, financial institutions, and other organizations.
The brokerage business also remained steady through the use of the Group’s nationwide network and diverse sales channels, in addition to collaboration within the Group.
The Condominiums Business recorded net sales of ¥122,844 million, up 19.9% year on year, and operating profit of ¥18,062 million, up 23.3% year on year, for the fiscal year under review.
The delivery of properties sold progressed as planned, with smooth progress in the delivery of Grande Maison Musashi-kosugi no Mori (Nakahara-ku, Kawasaki City) and Grande Maison Fukuoka The Central Luxe (Chuo-ku, Fukuoka City).
For the Grande Maison condominiums, stable demand has continued, supported by our focus on and intensive development in the central areas of Tokyo, Nagoya, Osaka, and Fukuoka. In addition, we adopted ZEH specifications for all units to contribute to the decarbonization of the residential sector, and steadily accumulated achievements in obtaining “Long-Life Quality Housing” certifications, as part of our efforts to prolong the longevity of buildings. Furthermore, we formulated plans that make the most of the attractiveness of each rental housing property, and sequentially opened GM BASE as information hubs rooted in each strategic area. Through these efforts, the presence of Grande Maison has been steadily advancing. These efforts proved effective, and the sale of Grande Maison One Ohori Park (Chuo-ku, Fukuoka City) and Grande Maison THE Shirokanedai (Minato-ku, Tokyo), among others, remained strong.
The Urban Redevelopment Business reported net sales of ¥164,634 million, up 32.7% year on year, and operating profit of ¥45,992 million, up 72.5% year on year, during the fiscal year under review.
As our strategy of focusing on the central areas of Tokyo, Nagoya, Osaka, and Fukuoka as areas for urban development proved effective, and under the resulting favorable sales environment, the sale of several properties, including our ownership interest in large-scale properties, progressed beyond the plan. Furthermore, the occupancy rate remained steady for Prime Maison and other properties that we continue to own.
In addition, special purpose companies in which we have a partial equity interest completed delivery of real estate holdings, from which we recorded a share of profit of entities accounted for using equity method.
The Overseas Business earned net sales of ¥1,286,358 million, up 0.6% year on year, and operating profit of ¥39,102 million, down 50.5% year on year, during the fiscal year under review.
In our U.S. homebuilding business, although the performance of M.D.C. Holdings, Inc.*, which we acquired in April 2024, contributed from the beginning of the current fiscal year, we increased incentives as customers continued to take a wait-and-see attitude due to uncertainty over the outlook for the U.S. economy, and our profit decreased together with the recording of a loss on valuation of inventory assets, etc., resulting in decreased operating profit. In our U.S. master-planned community business, newly acquired properties contributed to earnings, and performed steadily. In our U.S. multifamily business, we completed the additional sale of “City Ridge” (Washington D.C.) to SPCs organized by Sekisui House Reit, Inc., as well as the delivery of the “San Diego Court House Middle Wing” (San Diego). In Australia, deliveries of the “Orchards Lumia Wing,” “Sanctuary Laguna Wing and Glade Wing,” “Melrose Park Village Wing” in Sydney, and the “West Village Allere Wing” in Brisbane progressed.
* In September 2025, the business name of “M.D.C. Holdings, Inc.” was changed to “SEKISUI HOUSE U.S., Inc.”
Other businesses generated net sales of ¥16,451 million, up 17.0% year on year, and operating profit of ¥3,203 million, up 29.9% year on year, during the fiscal year under review.
Issues to Be Addressed by Sekisui House Group

The global economy is expected to remain in a situation requiring close monitoring of price trends and fluctuations in international financial and capital markets on the back of monetary and trade policies in various countries, amid increased uncertainty over the outlook due to U.S. tariff increases and persistent geopolitical risks.

In the domestic housing market, the diversification of lifestyles and values associated with the advent of the era of the 100-year lifespan, the increasing severity of natural disasters due to climate change, and revisions to the Building Energy Efficiency Act (including the mandatory compliance with energy efficiency standards for all newly constructed houses) and the Long-life Quality Housing Certification System have further heightened the need to respond to increasingly diverse customer needs.

In the U.S. housing market, the situation requires close monitoring of the impact of tariff policies, inflation, and interest rate trends. On the other hand, latent demand remains strong against the backdrop of a shortage of supply of high-quality housing, and demand is expected to recover in line with the stabilization of the economic environment and falling mortgage rates. In preparation for the materialization of such demand, it is necessary to establish a system capable of stably supplying high-quality housing.

In such a business environment, to achieve the Group’s Global Vision “Make Home the Happiest Place in the World,” we formulated the Seventh Mid-Term Management Plan (FY2026 to FY2028), with the fundamental policies of “Cultivating the Sekisui House Economic Sphere through Group-wide Capabilities” in Japan and “Building a Growth Platform to Drive a Game-changing Transformation” overseas.

business, we will accelerate the transfer of Sekisui House technologies developed in Japan and brand building under “Sekisui House U.S., Inc.,” which launched in January 2026 under a “One Company” structure through the integration of four Group builders.

Under our financial strategy, we will pursue further enhancement of corporate value by maximizing opportunities for business expansion while balancing “execution of growth strategies,” “restoration of financial soundness,” and “appropriate shareholder returns.” We target ROE in the high 12% range in FY2028, the final year of the plan. Looking at shareholder returns, we will maintain our conventional dividend policy of a medium-term average dividend payout ratio of 40% or higher and aim to increase dividends through profit growth. At the same time, the minimum annual dividend per share during the period of the Seventh Mid-Term Management Plan has been set at 145 yen, which exceeds the result for the fiscal year ended January 31, 2026 (144 yen). In addition, with respect to share buybacks of Company stock, we intend to implement them flexibly, taking into account cash allocation and the status of financial soundness recovery.

We sincerely ask for our shareholders’ further support, assistance and guidance.

Earlier from Sekisui House

Sekisui House: Consolidated Financial Results for the Third Quarter FY2025Dec 4, 2025

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