March 7, 2023

Notice Regarding Personnel Changes

Topy Industries Limited hereby gives notice regarding the finalization of titles and duties of directors and operating
officers effective April 1, 2023 and that the candidates for Director and Audit & Supervisory Board Member positions to bediscussed at the 129th Ordinary General Meeting of Shareholders (scheduled to take place in late June), along with thedirectors to be appointed at the Board of Directors’ meeting following the shareholders’ meeting and their duties, have been
decided.

Contact: Tetsuya Sakai, Operating Officer and General Manager, General Affairs Department
TEL: +81-3-3493-0777

1. Title and Duties of Directors(Effective April 1, 2023)
Title

NameDuties
New (as of April 1)

Current (as of March 7)

Director,President andCEO

Nobuhiko Takamatsu

Representative Director and President
in charge of Overseas Business
Strategy

Representative Director and President incharge of Sales

Director andExecutive Vice
President

Shinichi Kijima

Assistant to the President in charge ofFinanceSame as at left

SeniorManaging
Director

Masayoshi Takezawa

In charge of Technology, Safety &Health, DX Strategy, and the Business
Development Strategy CenterIn charge of Technology, Safety & Health,
DX Strategy, and the Business
Development Strategy CenterSenior
Managing
Director

Tsuyoshi Nakamura

In charge of Corporate Planning,
Business Operations, andSustainability Strategy

In charge of Corporate Planning andSustainability Strategy

Managing
Director

Shuichi Tachibana

In charge of General Affairs,Personnel, Risk Management, andassistant in charge of Safety & Heath

In charge of General Affairs, Personnel,
and Risk Management

DirectorTakeshi Kiriyama

Outside Director

Same as at left

Director

Hiroko Kaneko

Outside Director

Same as at left

Director

Takahiro Mikami

Outside Director

Same as at left

12. Title and Duties of Operating Officers(Effective April 1, 2023)
Title

NameDuties
New (as of April 1)

Current (as of March 7)

Hiromi Ishii

In charge of Sales and Overseas
Business Strategy

Advisor of Nippon Steel Corporation

Managing
Executive
Officer

Hideki Aoyama

General Manager of Overseas
Business Strategy Department, Deputy
General Manager of Sales Division,and General Manager of Aluminum
Administrative Center, Wheel
Division

General Manager of Corporate Planning
Department and Deputy General Managerof Sales Division

Managing
Executive
Officer

Masahiro Abe

General Manager of Engineering
Administration Department

Same as at left

Katsuyoshi Tanaka

General Manager of Corporate
Planning Department

General Manager of Steel Division, incharge of Steel Business(Operating Officer)

Tetsuya Sakai

General Manager of General Affairs
Department

Same as at left
(Operating Officer)

Masaru Yasuhara

General Manager of Sales Department

Same as at left
(Operating Officer)

Masatoshi Takahashi

General Manager of Finance andAccounting Department

General Manager of Aluminum
Administrative Center, Wheel Division ofTopy Industries, Ltd. and Representative
Director, President and CEO of Asahi techCorporation(Operating Officer)

Koji Nanayama

North American Operations, Overseas
Business Strategy Department

General Manager of Wheel Division, incharge of Automotive and Industrial
Machinery Components Business

Operating
Officer

Hideo Katsuyama

General Manager of Undercarriage
Components Division, in charge ofAutomotive and Industrial Machinery
Components Business

Same as at left

Operating
Officer

Yoshihito Kano

General Manager of Business
Development Strategy Center

Same as at left

Operating
Officer

Koji Kawakami

General Manager of Digital
Transformation Strategy Department

Same as at left

Operating
Officer

Koji Takeuchi

General Manager of Wheel Division
and General Manager of Commercial
and Off The Road Wheel Division, incharge of Automotive and Industrial
Machinery Components Business

General Manager of Commercial and Off
The Road Wheel Division, in charge ofAutomotive and Industrial Machinery
Components Business*

Operating
OfficerTakeshi Iizuka

Deputy General Manager of Business
Development Strategy Center

Same as at left

*Operating
Officer

Shinichiro Tada

General Manager of Internal Audit
Department

General Manager of Finance andAccounting Department

SeniorManaging*
Executive
OfficerManaging〇 Executive
OfficerManaging〇 Executive
OfficerManaging〇 Executive
OfficerManaging〇 Executive
Officer

Operating
Officer2

TitleNameDuties
New (as of April 1)

Current (as of March 7)

Tomoki Oyaizu

General Manager of Construction
Machinery Department, Sales
Division, and Overseas SalesOperations, Overseas Business
Strategy DepartmentGeneral Manager of Construction
Machinery Department, Sales Division

Operating*OfficerAkihiro Noaki

General Manager of Steel Division, incharge of Steel Business, and General
Manager of Toyohashi Plant, SteelDivision

General Manager of Toyohashi Plant, SteelDivision

Operating
Officer

Hiroshi Ogawa

General Manager of Steel Department,
Sales Division

Same as at left**

Operating
Officer○ denotes promoted operating officer.
* denotes newly appointed operating officer.

3. Outgoing Operating Officers(Effective March 31, 2023)
Current title
OperatingOfficer

Name
Takanori KawanoPlanned appointment
Councillor attached to Internal Audit Department

4. Candidates for Director(Scheduled for late June 2023)
Title
Director andChairman

NameDuties
New (late June)

Current (as of April 1)
Representative Director and President incharge of Overseas Business Strategy(Director, President and CEO)

Nobuhiko Takamatsu

Director,Hiromi Ishii

Representative Director and President

In charge of Sales and Overseas BusinessStrategy(Senior Managing Executive Officer)

Director andExecutive Vice
President

Shinichi Kijima

Assistant to the President, in charge ofFinanceSame as at left

Senior ManagingDirector

Masayoshi Takezawa

In charge of Technology, Safety &Health, DX Strategy, and the Business
Development Strategy Center

Same as at left

Senior Managing
Director

Tsuyoshi Nakamura

In charge of Corporate Planning,
Business Operations, andSustainability Strategy

Same as at left

Managing
Director

Shuichi Tachibana

In charge of General Affairs,
Personnel, Risk Management, andassistant in charge of Safety & Heath

Same as at left

DirectorTakeshi Kiriyama

Outside Director

Same as at left

* President andCEO3

TitleNameDuties
New (late June)

Current (as of April 1)

Director

Hiroko Kaneko

Outside Director

Same as at left

Director

Takahiro Mikami

Outside Director

Same as at left

* denotes new candidate for director.

45. Title and Duties of Operating Officers(Scheduled for late June 2023)
Title

NameDuties
New (late June)

Current (as of April 1)

Managing
Executive
Officer

Hideki Aoyama

General Manager of Overseas
Business Strategy Department,
Deputy General Manager of Sales
Division, and General Manager of
Aluminum Administrative Center,
Wheel Division

Managing
Executive
Officer

Masahiro Abe

General Manager of Engineering
Administration Department

Same as at left

Managing
Executive
Officer

Katsuyoshi Tanaka

General Manager of Corporate
Planning Department

Same as at left

Managing
Executive
Officer

Tetsuya Sakai

General Manager of General Affairs
Department

Same as at left

Managing
Executive
Officer

Masaru Yasuhara

General Manager of Sales Department

Same as at left

Managing
Executive
Officer

Masatoshi Takahashi

General Manager of Finance andAccounting Department

Same as at left

Operating
Officer

Koji Nanayama

North American Operations, Overseas
Business Strategy Department

Same as at left

Operating
Officer

Hideo Katsuyama

General Manager of Undercarriage
Components Division, in charge ofAutomotive and Industrial Machinery
Components Business

Same as at left

Operating
Officer

Yoshihito Kano

General Manager of Business
Development Strategy Center

Same as at left

Operating
Officer

Koji KawakamiGeneral Manager of Digital
Transformation Strategy Department

Same as at left

Koji Takeuchi

General Manager of Wheel Division
and General Manager of Commercial
and Off The Road Wheel Division, incharge of Automotive and Industrial
Machinery Components Business

Same as at left

Operating
OfficerTakeshi Iizuka

Deputy General Manager of Business
Development Strategy Center, andRepresentative Director, President
and CEO of Topy Marine Transport,
Ltd.

Deputy General Manager of Business
Development Strategy Center

Operating
Officer

Shinichiro Tada

General Manager of Internal Audit
Department

Same as at left

Operating
Officer5

Same as at left

TitleDutiesNameNew (late June)

Current (as of April 1)

Tomoki Oyaizu

General Manager of Construction
Machinery Department, SalesDivision, and Overseas SalesOperations, Overseas Business
Strategy Department

Same as at left

OperatingOfficerAkihiro Noaki

General Manager of Steel Division, incharge of Steel Business, and General
Manager of Toyohashi Plant, SteelDivision

Same as at left

Operating
Officer

Hiroshi Ogawa

General Manager of Steel
Department, Sales Division

Same as at left

Operating
Officer

6. Outgoing Operating Officers
Current title
SeniorManaging
ExecutiveOfficer(Scheduled for late June 2023)
Planned appointment

Name
Hiromi Ishii

Representative Director, President and CEO7. Candidates for Audit & Supervisory Board Member(Scheduled for late June 2023)
NameDuties
New (late June)

Current (as of March 7)

Full-time Audit & Supervisory Board Member

General Manager of Internal Audit Department(Operating Officer)* Shinya Hayakawa

Full-time Audit & Supervisory Board Member

Representative Director, President and CEO of Topy
Agency, Ltd.
[Scheduled to retire as Representative Director,
President and CEO of the company effective June 14,2023 and thereafter be appointed Councillor of Topy
Industries, Ltd.]

Tetsuya Kawagishi

Outside Audit & Supervisory Board Member

Same as at left

Akio Sakai

Outside Audit & Supervisory Board Member

Same as at left

* Takanori Kawano* denotes new candidate for Audit & Supervisory Board member.
Tetsuya Kawagishi and Akio Sakai are still serving their term of office.

68. Outgoing Audit & Supervisory Board Members(Scheduled for late June 2023)
Planned appointment

Current title

Name

Audit &Supervisory
Board Member

Yukihiro Ogawa

Advisor

Audit &Supervisory
Board Member

Koichi Sakamoto

Advisor7