On May 23, 2017, the board of directors of Stemcell Holdings, Inc. approved the resignation of Mr. Takaaki Matsuoka as Chief Financial Officer. The resignation was not the result of any disagreement with on any matter relating to operations, policies or practices. The resignation is effective May 26, 2017. On May 23, 2017, the Board approved the appointment of Ms. Erika Nakazawa as Chief Financial Officer, with an effective date of appointment on May 26, 2017. Ms. Nakazawa was appointed Chief Financial Officer of the company on May 26, 2017. She brings to her role her financial, strategic and international commercial acumen with extensive experience in investment banking, primarily in M&A. Most recently, she has been independently providing advisory services encompassing M&A, business restructuring, post-merger integration, pre-IPO and investor relations for both established and growing businesses.