Discontinuation of the Executive Retirement Benefit Scheme at a Consolidated Subsidiary

「At meetings of their respective boards of directors held on 19 June 2017, the consolidated subsidiaries resolved to abolish their previous directors’ retirement allowance systems at the conclusion of their annual general meetings of shareholders held on 27 June 2017. The general meetings approved proposals for lump-sum payments of retirement allowances. Accordingly, the full amount of the provision for directors’ retirement allowances was reversed, and the unpaid portion of the lump-sum payments, ¥26 million, was recorded under “other liabilities” because it will be paid when the respective directors retire.」