Inabata & Co.,Ltd. announced that Shinji Morimoto, who was one of the three members of the Independent Committee, established under the policy on the handling of large-scale purchases of shares of the company (takeover defense measure), retired from the committee. As he resigned as outside audit & supervisory board member due to the expiry of his term of office at the conclusion of the Ordinary General Meeting of Shareholders held on June 23, 2020. Accordingly, at a meeting of the board of directors held after the general meeting of shareholders, it was resolved to appoint Satoshi Tamai, who was elected as outside audit & supervisory board member to replace Shinji Morimoto at the general meeting of shareholders, as a new member of the Independent Committee. The term of office of Satoshi Tamai will expire at the same time as that of the other two members of the Independent Committee, namely at the conclusion of the first board of directors meeting to be held by July 31, 2022 after the 161th Ordinary General Meeting of Shareholders, to be held in June 2022.