Gurunavi : Notice of Change in Representative Directors

For immediate release

Name of Listed Company:	Gurunavi, Inc.
Listed Stock Exchanges:	Tokyo Stock Exchange
Stock Code:	2440
Representative:	Seiichiro Kubo, President

Notice of Change in Representative Directors

May 22, 2019 - The board of directors of Gurunavi, Inc. (the "Company") today resolved the items regarding the following change in Representative Directors.

The change will be formally approved at the 30th Ordinary General Meeting of Shareholders scheduled on June 19, 2019 (the "General Meeting") and at the meeting of the Board of Directors to be held after the close of the General Meeting.

1. Reason for the change

The change will be implemented for the phase of strengthening the cooperation with Rakuten, Inc. and improvement and enhancement of management system as well as the corporate value.

2. Details of the change

• New Representative Director

Name	New Title	Current Title
Akio Sugihara	President and	Group Managing Executive Officer
Representative Director	Rakuten, Inc.

• Retiring Representative Director

Name	New Title	Current Title
		Chairman and
Hisao Taki	Chairman and Director	Representative Director
		Planning and Development
		President and
Seiichiro Kubo	(Retirement)	Representative Director
		Sales and Marketing

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3. Profile of new Representative Director
Name:	Akio Sugihara
Date of birth:	August 26, 1969
Birthplace:	Hiroshima
Education:	Completed the Master course of Graduate school of Media and Governance,
	Keio University
Career summary: March 1996	Started an internet service company
	February 1997	Participated in MDM, Inc. (currently Rakuten, Inc.) as a
		co-founder
	November 1999	Director, General Manager, New Business Development,
		Rakuten, Inc.
	October 2000	Representative Director, President,
		Rakuten Books, Inc.
	July 2007	Director and Group Managing Executive Officer,
		CPO (Chief Produce Officer),
		General Manager, Development and Creative & Web
		Design General Headquarters,
		Rakuten, Inc.
	April 2012	Director and Group Managing Executive Officer,
		In charge of Human Resources & General Affairs,
		Rakuten, Inc.
	October 2018	Group Managing Executive Officer,
		CHO (Chief Health Officer),
		In charge of Human Resources & General Affairs
		Rakuten, Inc. (current)
Significant concurrent positions:	Corporate Auditor, TECHMATRIX CORPORATION;
		Representative Director, President, Rakuten Socio
		business, Inc.;
		Director, Rakuten Baseball, Inc.;
		Director, Rakuten Vissel Kobe, Inc.
Number of shares held:	0 shares

4. Scheduled date of the change June 19, 2019

(Reference) Change in Directors 1. Candidates for Director

	Name	New Title	Reference
Hisao Taki	(Reelection)	Chairman and	―
Director
			Group Managing Executive Officer
			Rakuten, Inc.;
		President and	Corporate Auditor,
		TECHMATRIX CORPORATION;
Akio Sugihara	(New Candidate)	Representative
Representative Director, President,
		Director
		Rakuten Sociobusiness, Inc.;
			Director, Rakuten Baseball, Inc.;
			Director, Rakuten Vissel Kobe, Inc.
		2

					Adviser,
					Sumitomo Mitsui Card Company,
					Limited;
				Outside	External Director, ELIIY Power Co., Ltd.;
Koichi Tsukihara		(Reelection)		Outside Director, YAMASHITA, LTD.;
		Director
				Independent Non-Executive Officer,
					Deloitte Touche Tohmatsu LLC;
					Independent Non-Executive Officer,
					Deloitte Tohmatsu LLC
				Outside	Outside Director,
Hidehiko Sato	(New Candidate)		Sumitomo Dainippon Pharma Co., Ltd.;
	Director
				Outside Director, Resona Holdings, Inc.
Hirohisa Fujiwara	(New Candidate)		Outside	Director, Managing Executive Officer,
	Director	Tokyu Corporation
					Group Executive Vice President,
					President of Commerce Company
Kazunori Takeda	(New Candidate)		Outside	Rakuten, Inc.;
	Director	Director, Rakuten Vissel Kobe, Inc.;
					Director, Rakuten General Insurance Co.,
					Ltd.
					Group Managing Executive Officer,
					CMO (Chief Marketing Officer)
Naho Kono	(New Candidate)		Outside	Senior Vice President of Commerce
	Director	Company, Rakuten, Inc.;
					Director, GirlsAward Inc.;
					Director, Rakuten Management, Inc.
2. Directors to retire
Name			New Title		Current Title
						President and
Seiichiro Kubo		(Retirement)				Representative Director
						Sales and Marketing
						Director, Executive Vice President
Hisao Iizuka		(Retirement)				Administration;
						Corporate Security Management
		Senior Managing Executive Officer	Director,
		Senior Managing Executive Officer
		Sales and Marketing;
			Sales and Marketing;
Miho Saito		Planning and Development;
		Planning and Development;
		Restaurant Sales;
			Restaurant Sales;
		Operation Support Service
			Operation Support Service
		Senior Managing Executive Officer	Director,
		Senior Managing Executive Officer
		Administration;
			Administration;
		Corporate Planning;
Teruhisa Yamada			Corporate Planning;
	Corporate Strategy;
			Corporate Strategy;
		Strategy Promotion;
			Strategy Promotion;
		Business Center
			Business Center
			3

						Director,
						Managing Executive Officer
						Administration;
Midori Kakiuchi	(Retirement)				Legal and Compliance;
						Diversity Promotion;
						Executive Assistant Community
						Development
		Managing Executive Officer			Director,
				Managing Executive Officer
Naoki Koshikawa	Development;
			Development;
		IT Infrastructure
				IT Infrastructure
		Managing Executive Officer			Director,
Yoshitaka Inuzuka			Managing Executive Officer
Planning
					Planning
Megumi Usui	(Retirement)				Director, Executive Officer
						Outside Director
Yoichi Minami	(Retirement)				Adviser, JR EAST VIEW Travel
						Service Co., ltd.
3. Candidates for Auditor
Name		Title			Note
				Chairman of the Board & Representative
				Director, Keikyu Corporation;
				Outside Director, Tokai Kisen Co., Ltd.;
				Outside Director, Tokyo Airport
				Restaurant Co., Ltd.;
Tsuneo Ishiwata	(Reelection)	Outside	Outside Director, LUMINE WING Co., Ltd.;
Auditor	Outside Director, YOKOHAMA CITY AIR
				TERMINAL CO., LTD.;
				Chairman, Kanagawa Association of
				Corporate Executives;
				Chairman, Kanagawa-ken Employer's
				Association
			Outside	Representative, Minaki and Kitazawa Law
Taketeru Minaki	(Reelection)	office;
Auditor
			Outside Auditor, NKB Inc.
4. Auditor to retire
Name		New Title			Current Title
Masaru Masumoto	(Retirement)				Outside Auditor (Full-time)

5. Scheduled date of the change June 19, 2019

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