Solasto Corporation announced that at a meeting of its Board of Directors held on September 12, 2023, it made a resolution to change the Representative Director (President) at the recommendation of the Nomination, Evaluation, and Compensation Committee, an advisory body to the Board of Directors, as follows. Since his appointment as the President in April 2019, Mr. Yoshikazu Fujikawa has accomplished numerous achievements, including achieving net sales of over JPY 100 billion, realizing sales and profit growth for the tenth consecutive year, and launching new businesses. In the meantime, the Nomination, Evaluation, and Compensation Committee has continuously held deliberations on the succession of the management team, including the selection of the next President, in order to realize the sustainable growth of the Solasto Group and the further enhancement of its corporate value.

After the successful generational change which was executed from last year in the main business management, it has decided to pursue the change in the Representative Director (President). Under the new leadership of Mr. Toru Noda, the next President of the Company, the Group will aim to achieve the 2030 Numerical Goals of JPY 300 billion in net sales and JPY 20 billion in operating profit by establishing and promoting a new foundation for growth. Position as of April 1, 2024: Yoshikazu Fujikawa as Director; Toru Noda as Representative Director, President and Chief Executive Officer.

Position as of October 1, 2023: Yoshikazu Fujikawa as Representative Director, President and Chief Executive Officer; Toru Noda as Representative Director, Executive Vice President. Toru Noda appointed as Representative Director, Executive Vice President from Outside Director (Independent Officer), with effect from October 1, 2023. Toru Noda: Date of birth: September 16, 1960.

Apr. 1984- Joined Mitsubishi Corporation; Jul. 2003- Chairman, President & CEO of Berlitz International Inc. (currently: Berlit Corporation); Jul.

2007- Executive vice president & COO of Seiyu Corporation; Feb. 2010- Representative partner & CEO of Seiyu G.K. (currently: Seiyu Co. Ltd.) Representative partner & CEO of Walmart Japan Holdings G.K. (currently: Seiyu Holdings Co.

Ltd.); Aug. 2012- President and Representative Director of ALC PRESS INC.; May 2016- Executive Officer & CSO of TAIYO SYSTEM TECHNOLOGY Co. Ltd. (currently: DIGITAL VORN CO., LTD.); Sep.

2016- Executive Vice President of the above company; Jun. 2018- Chairman (Outside Director) of Softfront Holdings Inc.; Jan. 2019- Director of TAIYO SYSTEM TECHNOLOGY Co.

Ltd.; Apr. 2019- President & CEO of Softfront Holdings Inc.; Nov. 2020- Professor of Graduate School of Business Sciences at University of Tsukuba (incumbent); Jun.

2021- Outside Director of the Company (incumbent); Jun. 2021- Director of Softfront Holdings Inc.