Espec : Notice of Change in Representative Directors and Appointment of Officers following Transition to a Company with Audit & Supervisory Committee

	January 13, 2022
Company name:	ESPEC CORP.
Representative:	Masaaki Ishida, President
Listing:	Tokyo, Stock Exchange, First section
Securities code:	6859
Inquiries:	Keiji Oshima,
	Chief Officer of Corporate Control Headquarters
Telephone:	[phone]

Notice of Change in Representative Directors and Appointment of Officers following Transition to a Company with Audit & Supervisory Committee

ESPEC CORP. (the "Company") hereby announces that by resolutions of the Board of Directors meeting held today, the Company will change its representative directors and appoint officers following the transition to a "Company with Audit & Supervisory Committee," subject to approval at the 69th Ordinary General Meeting of Shareholders to be held in June 2022.

Details of the transition to a Company with Audit & Supervisory Committee were disclosed separately in "Notice of Transition to a Company with Audit & Supervisory Committee" dated December 10, 2021.

Description

1. Change of Representative Directors (Scheduled for April 1, 2022)

1. Reason for Change

The Company has decided to transition to a Company with Audit & Supervisory Committee, seeking to enhance deliberations in the Board of Directors meetings and further strengthen the Board of Directors' supervisory functions. Using this opportunity, the Company will rejuvenate and strengthen the management base by changing the president and to further enhance corporate value.

(2) Details of Change

	Name	New Position Title		Current Position Title
	Masaaki Ishida	Representative Director and		President
		Chairperson
	Satoshi Arata	Representative Director and		Director
		President		Senior Executive Officer
(3) Career Summary of Newly Appointed Representative Director
							Number of
	Name(Date of birth)		Career Summary			Company
				shares
							held
		Apr.1991	Joined the Company
		Apr.2018	Senior Executive Officer
			(present position)
		June 2018 Director(present position)
	Satoshi Arata	Apr.2019 Chief Officer, Environmental Test		14,700
		Equipment Headquarters
	(October 7, 1966)			shares
		(present position)
		Apr.2021 Chief Officer, International Business
			Headquarters(present position)
			General Manager, Fukuchiyama Plant
			(present position)

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2. Appointment of Officers following Transition to a Company with Audit & Supervisory Committee

1. Candidates for Directors (excluding directors who are Audit & Supervisory Committee members)
   (Planned for submission to the 69th Ordinary General Meeting of Shareholders to be held in June 2022)

	Name	New Position Title	Current Position Title
	Masaaki Ishida	Representative Director and	President
	Chairperson
	Satoshi Arata	Representative Director and	Director
	President	Senior Executive Officer
	Kazuhiro Suehisa	Director and	Director
	Managing Executive Officer	Senior Executive Officer
	Keiji Oshima	Director and	Senior Executive Officer
	Executive Officer
	Junko Nishitani	Director and	Executive Officer
	Executive Officer
	Akihiko Yanagitani	Outside Director	Same as on the left
	Kazuo Hirata	Outside Director	-
	Note: Kazuo Hirata is a newly	appointed Outside Director
(2) Career Summary of Newly Appointed Outside Director
				Number of
	Name（Date of birth）	Career Summary		Company
			shares
					held
		Apr. 1977 Joined Nippon Telegraph and
		Telephone Public Corporation (Current
		NIPPON TELEGRAPH AND
	Kazuo Hirata	TELEPHONE CORPORATION)
	July 1993 Deputy Director, Nippon Telegraph and		0 share
	(December 4, 1946)
	Telephone Public Corporation.
		Apr. 1996 Joined New Japan Radio Co., Ltd
		June 2007 President and Representative Director,
		New Japan Radio Co., Ltd

(3) Candidates for Directors who are Audit & Supervisory Committee Members

(Planned for submission to the 69th Ordinary General Meeting of Shareholders to be held in June 2022)

Name	New Position Title	Current Position Title
Kunikazu Ishii	Director	The Standing Audit &
(Audit & Supervisory Committee
Supervisory Board Member
	member)
	Outside Director	Outside Audit &
Takahiro Tanaka	(Audit & Supervisory Committee
Supervisory Board Member
	member)
Yasuko Yoshida	Outside Director	Outside Audit &
(Audit & Supervisory Committee
Supervisory Board Member
	member)

(4) Candidate for Substitute Director who is an Audit & Supervisory Committee Member

(Planned for submission to the 69th Ordinary General Meeting of Shareholders to be held in June 2022)

Name	New Position Title	Current Position Title
	Substitute Outside Director	Outside Audit &
Masahiko Tsutsumi	(Audit & Supervisory Committee
Supervisory Board Member
	member)

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3. Planned Directors Retirement

(Planned for retirement upon expiration of term at the 69th Ordinary General Meeting of Shareholders to be held in June 2022)

(1) Retirement as Directors

	Name	Current Position Title
	Taneo Shimada	Managing Director
	Toshiyuki Hamano	Director
	Executive Officer
	Kenji Fuchita	Director
	Executive Officer
	Toshiya Kosugi	Outside Director
(2) Retirement as Audit & Supervisory Board member
	Name	Current Position Title
	Masahiko Tsutsumi	Outside Audit & Supervisory Board Member

4. Change of Executive Officers (Scheduled for April 1, 2022)

Name	New Position Title	Current Position Title
Satoshi Arata	President	Senior Executive Officer
Kazuhiro Suehisa	Managing Executive Officer	Senior Executive Officer
Keiji Oshima	Executive Officer	Senior Executive Officer
Junko Nishitani	Executive Officer	Same as on the left
Toshiyuki Hamano	Executive Officer	Same as on the left
Kenji Fuchita	Executive Officer	Same as on the left
Katsuhiko Watabe	Executive Officer	Same as on the left
Takehiko Umehara	Executive Officer	Same as on the left

5. Other

Details of amendments to the Articles of Incorporation following the transition to a Company with Audit & Supervisory Committee will be announced as soon as they have been determined.

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