Regal Updates Special Committee Members Following Share Acquisition Policy Approval

TOKYO, Jun 23 (Pulse News Wire) – Regal Corporation (7938.T) announced today that two members of its special committee established based on the share acquisition policy approved at its 192nd Ordinary General Meeting of Shareholders held on June 25, 2024, have completed their terms. The company appointed two new external directors to fill the vacancies during its board meeting held.

The newly appointed members are Iwata Isao and Sadase Nanako. Iwata joined Mitsubishi Corporation in April 1982 and served in various executive roles until January 2020, becoming an outside director of Seibu Holdings in June 2021 and an outside audit committee member of Nippon Place in June 2022. Sadase started her career at Shonan Credit Union in April 1995 and became president of Maker’s Shirt Kanagawa in June 2009.

She currently serves as chairman of Meikoshi Trade Shanghai Co., Ltd. and president and CEO of Kamakura Shirts New York Co., Ltd. Both appointees are designated as independent directors according to the Tokyo Stock Exchange's criteria and have no special interests with Regal Corporation.

Their term will end upon the expiration of the effective period of the share acquisition policy or the completion of their tenure as outside directors or auditors, whichever comes earlier.