The Board announced that Mr. Tatsushi Hidano has been re-designated from executive director of Precision Tsugami (China) Corporation Limited to non-executive director of the Company with effect from 1 January 2018. Mr. Tatsushi Hidano was appointed as the executive director of the company on 13 May 2015. As the general manager of the research and development center Precision Tsugami (China) Corporation, he was primarily responsible for development of production technology. Mr. Hidano served in Precision Tsugami (China) Corporation from March 2011 to August 2012 and from November 2013 to December 2017, primarily responsible for development and administration of technology. In relation to the re-designation, the Company has entered into a formal letter of engagement with Mr. Hidano as non-executive director of the Company for a term of three years effective as from 1 January 2018.