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Notice Regarding Stock Repurchases (Stock Repurchases under the Provisions of Articles of Incorporation Pursuant to Paragraph 2, Article 165 of the Corporation Law of Japan)

PROTO CORPORATION (“the Company”) hereby announces that, at a meeting of its Board of Directors held on May 13, 2016, the Company has authorized the repurchase of shares of its common stock pursuant to Article 156 of the Corporation Law of Japan, as applied pursuant to Paragraph 3, Article 165 of the Corporation Law, as described below.

1.Reasons for Share Repurchases
To improve capital efficiency and enable the Company to flexibly exercise its capital policy in response to the changing managerial environment.

2.Details of Repurchases
(1)Class of shares to be repurchased:Common stock
(2)Total number of shares to be repurchased:Up to 150 thousand shares
(Ratio to the number of outstanding shares
(excluding treasury stock):0.74%)
(3)Aggregate repurchase amount:Up to 200 million yen
(4)Period for repurchases:May 16, 2016 to June 10, 2016

(For reference)
Number of treasury stock (as of March 31, 2016)     
Number of outstanding shares (excluding treasury stock):20,204,070 shares
Number of treasury stock:735,930 shares

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