Announcement of Management Changes

Following the 12th General Meeting of Shareholders held on June 29, 2015, a new Director and Auditor were appointed. Please be informed that with the change in the company structure, the current Directors and Auditors are as follows:

CEO
Kenichi Nagai

Director
Yutaka Waki

Director
Teruhiko Sakai

Director
Akira Yamada

External Director
Hirotaka Takeuchi (New)

External Auditor
Yoshihiro Imai

External Auditor
Taketoshi Abe

External Auditor
Yoshiyasu Yamaguchi (New)

Furthermore, the former Director, Takashi Matsumoto, has resigned following the completion of his term of office. We are extremely grateful for the cordiality and cooperation that he was shown during his time in office.

Brief Personal History of New Directors

External Director
Hirotaka Takeuchi, Doctor of Business Administration, Professor at the Harvard Business School, and Honorary Professor at the Hitotsubashi University.

Professor Takeuchi's areas of specialization include competitive strategy, knowledge management, marketing (development of new products), and international business. He also has experience working for McCann Erickson and for McKinsey & Company, and won the "Best Book of the Year Award (Finance Field)" for his book "The Knowledge-Creating Company" from the Association of American Publishers in 1995. In 2015, he was appointed as an External Director of our company.

External Auditor
Yoshiyasu Yamaguchi, Lawyer, TMI Associates

After leaving Yamaichi Securities Co., Ltd., Mr. Yamaguchi registered with the Tokyo Bar Association in 1991 and later joined TMI Associates. He later acquired the qualifications and license to practice law in the state of New York, US and after working for Simmons & Simmons Law Office in the UK, he has been serving as a partner at TMI Associates from 1999. Mr. Yamaguchi was appointed as an External Auditor of our company in 2015.