Clarifying Oversight and Execution Functions Through an Executive Officer System

「At a Board of Directors meeting held on 20 April 2020, we resolved to introduce an executive officer system effective 25 June. The Board of Directors will focus primarily on management decision-making and oversight of business execution, shifting its emphasis toward strengthening group governance. For business execution, we will clarify executive authority and responsibility and enhance execution agility by establishing a structure in which executive officers execute operations under the direction and supervision of the representative directors.」