< Notice of change in shareholders and of new management structure >

Effective April 13, 2018, we are pleased to announce that we made a fresh start under new corporate management setup under sponsorship of Shinsei Rembrandt Partners 1st Investment Limited Partnership (the “Sponsor”), co-managed by Shinsei Corporate Investment Limited, a private equity affiliate of Shinsei Bank, and Rembrandt Investment Co., Ltd..

We would also like to announce that, during the extraordinary shareholders' meeting followed by the board of directors' meeting held on April 13, 2018, our new management structure has been confirmed as below. Welcoming 5 (five) outside directors appointed by the Sponsor and taking full advantage of their broad knowledge and talents, we all will strive hard at every level for further accelerating growth of our corporate value.
New Management Structure
Katsumi Watanabe 
Senior Managing Director 
Yoshiaki Morimoto 
Outside Director 
Ippei Matsubara 
CEO, Shinsei Corporate Investment Limited
Outside Director 
Takahisa Komatsu 
CFO, Rembrandt Holdings Co., Ltd.
Outside Director 
Kazutaka Yamada 
Managing Director, Shinsei Corporate Investment Limited
Outside Director 
Masaki Yahagi 
Deputy Manager, Management Planning Department, Rembrandt Holdings Co., Ltd.
Outside Director 
Kenji Tanaka 
CEO, Gordon Brothers Japan Co., Ltd.
Outside Auditor 
Tetsuya Kubota 
CPA, Tetsuya Kubota CPA Office
In addition, Akihisa Suzuki, the former president and CEO, will serve as our corporate advisor and provide us with his advices from various aspects, such as product planning, production, marketing, etc., for our company's rebirth.

We look forward to your continuous support and cooperation in future.

Thank you.