January 25, 2012
To whom it may concern

Tosei CorporationToranomon Tosei Building, 4-2-3 Toranomon, Minato-ku, Tokyo
President and CEO: Seiichiro Yamaguchi
Ticker code: 8923 (Tokyo Stock Exchange, First Section)
Contact: Noboru Hirano, Director and CFO
TEL: +81-3-3435-2864
Please note that this document is a translation of the official announcement that was released on January 25, 2012. The translation isprepared and provided for the purpose of the readers’ convenience only. All readers are strongly recommended to refer to the originalJapanese version of the news release for complete and accurate information.

Notice Regarding Appointment of Directors

Jan. 25, 2012 – The Board of Directors of Tosei Corporation (“the Company”) at a meeting held today resolved
to submit a proposal for shareholders’ approval at the 62th ordinary general meeting scheduled for Feb. 24, 2012,
concerning the appointment of its directors. Details are as follows.

1. Reason for appointment

The term of all directors will expire upon the closing of the Company’s ordinary general shareholders’ meetingscheduled for Feb. 24, 2012. Accordingly, the Company will appoint the following candidates as its newdirectors.

2. Name and profile of the director candidates

Name:

Seiichiro Yamaguchi

Date of Birth:

Jan. 5, 1961

Background:

Apr. 1983

Entered Mitsui Real Estate Sales Co., Ltd.

Apr. 1986

Entered Tosei-Shoji Corporation

Aug. 1990

Director of the Company

Jun. 1994

President and Representative Director of the Company(current position)

Dec. 1995

Representative Director of Palms Community Management Co. Ltd.
(the predecessor of Tosei Community Co., Ltd.)

Jul. 2004

President and CEO of the Company (current position)

Name:

Katsuhito Kosuge

Date of Birth:Jul. 17, 1960

Background:

Apr. 1983

Entered Tokyu Construction Co., Ltd.

Apr. 1986

Entered Tosei-Shoji Corporation

Jan. 1996

Director of the Company

Dec. 2000

Managing Director of the Company

Jul. 2004

Managing Executive Officer of the Company

Sep. 2005

Representative Director of Tosei Revival Investment Co., Ltd.

Feb. 2006

COO Senior Executive Officer of the Company

Oct. 2007

Representative Director of Tosei Asset Management, Corp.

Apr. 2008

Director of Tosei Asset Advisors, Inc.

Dec. 2011

COO Senior Executive Officer of Business Division; in charge ofAsset Solutions 1,2, and 3, Asset Solutions Business Promotion
Department, and Architecture Planning Department; andGeneral Manager of Asset Solutions Business Promotion
Department of the Company (current position)

Name:

Noboru Hirano

Date of Birth:

Oct. 17, 1959

Background:

Apr. 1982

Entered Kokubu & Co., Ltd.

Apr. 1991

Entered Tosei-Shoji CorporationMay 1995

Director of Tosei-Shoji Corporation

Mar. 2001

General Manager of Finance and Accounting Department of theCompany

Oct. 2002

Managing Director of the Company

Jul. 2004

Managing Executive Officer of the Company

Mar. 2005

Corporate Auditor of Tosei Revival Investment Co., Ltd.

Apr. 2005

Corporate Auditor of Tosei Community Co., Ltd. (current position)

Sep. 2005

Representative Director of Tosei REIT Advisors, Inc.

Feb. 2006

CFO Senior Executive Officer of the Company

Dec. 2007

Representative Director of Tosei Revival Investment Co., Ltd.
(current position)

Mar. 2011

CFO Senior Executive Officer of Administrative Division; incharge of Corporate Planning Department, and Administration andHR Department of the Company (current position)

Name:

Goro Kamino

Date of Birth:

Aug. 29, 1960

Background:

Apr. 1983

Entered Mitsui Trust and Banking Company, Limited (thepredecessor of The Chuo Mitsui Trust and Banking Company,Limited)

Aug. 1990

Entered Chubu Gas Co., Ltd.

May 1995

Entered Gastec Service, Inc. and appointed as Corporate Planning
Department Chief

Dec. 1995

Director of Toyohashi Cable Network Inc. (current position)

Aug. 2000

President CEO of Gastec Service, Inc. (current position)

May 2002

President and representative director of Sala Corporation(current position)

Jun. 2002

Director of System Location Co., Ltd.

Jan. 2004

Director of Sala House Co., Ltd. (current position)

Mar. 2006

Representative Director of Chubu Gas Co., Ltd. (current position)

Feb. 2007

Chairperson of Sala Cars Japan Co., Ltd. (current position)

Feb. 2007

Director of the Company (current position)

Oct. 2009

Director of Japan Post Holdings Co., Ltd. (current position)

Name:

Kenichi ShotokuDate of Birth:

Jan. 20, 1971

Background:Jul. 1995

Entered Asahi & Co., Ltd. (the predecessor of KPMG AZSALLC)

Sep. 1999

Transferred to Arthur Andersen & Co., Kuala Lumpur Office

Sep. 2002

Entered SCS Global Accounting Services, Ltd. (the predecessor ofSCS Global Consulting K.K.)

Nov. 2003

Representative Director of SCS Global Accounting Services, Ltd(the predecessor of SCS Global Consulting K.K.)(current position)

Sep. 2005

Director of O-RID GLOBAL BPO PTE. LTD. (current position)

Dec. 2010

Statutory Auditor of ROKI TECHNO CO., LTD (current position)

Note: Goro Kamino and Kenichi Shotoku are independent director candidates.

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