Notice of Change in Representative Director, Directors and Key Employees

Summary of Personnel Changes

At the board meeting held today, changes to the representative director and directors/executive officers were resolved, with the change of representative director to be formally determined at the ordinary general meeting of shareholders on December 23, 2026 and the subsequent board meeting. Specifically, the transition of the representative director to Chairman Toshiyuki Teramoto, multiple appointments and transfers of new and current executive officers effective October 1, 2026, resignations, and appointments of new executive officers are included. The resignation of Senior Executive Officer Takao Kanazawa effective September 30, 2026, and transfers of several other positions and department heads are also specified.

Schedule and Impact

The formal decision on the representative director is planned to be made at the shareholders meeting to be held on December 23, 2026 and the subsequent board meeting. The executive officer changes effective October 1, 2026 will take effect immediately, and the organizational changes are intended to review and strengthen the management structure. The personnel changes cover multiple departments including Finance, General Affairs, HR, Public Relations, Real Estate, and Golf Business, and are intended to strengthen corporate strategy and operational structure.