April 25, 2016
Company name: Ashikaga Holdings Co., Ltd.
The Ashikaga Bank, Ltd.

Changes of Directors
Ashikaga Holdings Co., Ltd.( “Ashikaga HD”) and its subsidiary, The Ashikaga Bank, Ltd. ( “Ashikaga Bank”)
today announced the following planned changes and candidates for Directors, subject to obtaining resolution at theannual general meeting of shareholders scheduled to be held on June 28, 2016.
Description

1. Ashikaga HD.
(1) Candidate(Name)
Toru Nagasawa(New Position)
Outside Director(Note)
Attorney at law, Representative of Nagasawa Law Offices(2) Retirement(Name)(Former Position)

Masataka Komata

Director

Shinjiro Takagi

Outside Director

Shoji Fukui

Outside Director(Note)

Planned to continue to appointed as a Directors of Ashikaga Bank

(3) Changes Date
June 28, 2016 (planned)*Ashikaga HD will change the trade name to “Mebuki Financial Group, Inc.” and transit to the company with audit
and supervisory committee on October 1, 2016 of the effective date of the share exchange, subject to obtaining
approvals of the share exchange agreement with The Joyo Bank, Ltd. and of the necessary amendments in the Articlesof Incorporation at the annual general meeting of shareholders scheduled to be held on June 28, 2016. The term ofoffice of directors and executive officers shall expire, when Ashikaga HD transit to the company with audit andsupervisory committee.
Board members of Mebuki Financial Group, Inc. as of October 1, 2016 are announced today in the publication of“Notice Regarding Definitive Agreement Concerning the Business Integration of The Joyo Bank, Ltd. and Ashikaga
Holdings Co., Ltd. through a Share Exchange”.

12. Ashikaga Bank
(1) Members of Board of Directors after Transit to the Company with Audit and Supervisory Committee
A. Directors (except Directors who are the Audit and Supervisory Committee members)(Name)(New Position)(Current Position)

Satoshi Fujisawa

Chairman and Director

Director, Chairman and Chief Executive Officer of Ashikaga HD

Masanao Matsushita

President and Director

Director, President and Chief Executive Officer of Ashikaga HD

Representative Director

Director, President and Chief Executive Officer of Ashikaga
BankKiyoshi Kato

Senior Managing Director

Senior Executive Officer of Ashikaga Bank

Yutaka Horie

Senior Managing Director

Executive

OfficerandGeneral

ManagerofBusiness

Administration Dep., Ashikaga HD
Senior Executive Officer of Ashikaga BankHiroshi MoriManaging Director

Executive Officer and General Manager of Auditing Dep.,
Ashikaga HD
Managing Executive Officer of Ashikaga Bank

Kazuyuki Shimizu

Managing Director

Executive Officer and General Manager of Corporate Planning
Dep., Ashikaga HD
Managing Executive Officer of Ashikaga Bank

Mitsuo Sugiyama

Director

Executive Officer of Ashikaga Bank

Takashi Satake

Director

Executive Officer of Ashikaga Bank

Keizo Shinozaki

Director

Executive Officer of Ashikaga Bank

Yoshiaki Kosugi

Director

Executive Officer of Ashikaga Bank(Chief Officer of Ken’ou and(Chief Officer of Ken’ou and Nikko Area Hub)

Nikko Area Hub)
Eisuke Suzuki

Director

Executive Officer of Ashikaga Bank

(General Manager of Treasury(General Manager of Treasury and Securities Division)and Securities Division)
Hiroo Shimada

Director

Executive Officer of Ashikaga Bank

B. Directors who are the Audit and Supervisory Committee members(Name)
Akihiko Kuwako

Junichi Sato

(New Position)(Current Position)

Director

Operating Officer and General manager of

The Audit and Supervisory Committee member

Internal Audit Division, Ashikaga Bank

Outside Director
The Audit and Supervisory Committee member2(2) Retirement(Name)(Former Position)

Kunihiro Ono

Director

Masataka Komata

DirectorShinjiro Takagi

Outside Director

Yoshio Kohra

Outside Director(Note)
Planned to continue to appointed as a Directors of Ashikaga HD

Planned to continue to appointed as a Directors of Ashikaga HD(3) Changes Date
June 28, 2016 (planned)
End<Contacts for inquiries regarding this notice>
Ashikaga HD and Ashikaga Bank
Ebihara and Yagi, Corporate Planning Department, Public Relations and IR Group
Tel: 028-626-0401

3

Reference: List of Directors and Executive Officers (as of Jun 28, 2016)
Ashikaga Holdings, Co., Ltd. (Company with Nominating Committee, etc.)
Executive Officers
Chairman and Chief Executive Officer
Satoshi Fujisawa
President and Chief Executive Officer
Masanao Matsushita
Executive Officer(General Manager of Business Administration Department)
Yutaka Horie
Executive Officer(General Manager of Auditing Department)

Hiroshi Mori

Executive Officer(General Manager of Corporate Planning Department)

Kazuyuki Shimizu

DirectorsDirector
DirectorDirector
Outside Director
Outside Director
Outside Director

Satoshi Fujisawa
Masanao Matsushita
Kunihiro Ono
Yoshio Kohra
Mitsuhiro Kitamura
Toru Nagasawa

The Ashikaga Bank (Company with Audit and Supervisory Committee)
Directors (except Directors who are the Audit and Supervisory Committee members)
Chairman and Director
Satoshi Fujisawa
President and Representative Director
Masanao Matsushita
Senior Managing Director
Kiyoshi Kato
Senior Managing Director
Yutaka Horie
Managing Director
Hiroshi MoriManaging Director
Kazuyuki Shimizu
Director
Mitsuo Sugiyama
Director
Takashi Satake
Director
Keizo Shinozaki
Director (Chief Officer of Ken’ou and Nikko Area Hub)
Yoshiaki Kosugi
Director (General Manager of Treasury and Securities Division)
Eisuke Suzuki
Director
Hiroo Shimada
Directors who are the Audit and Supervisory Committee members
Director
Akihiko Kuwako
Outside Director
Junichi Sato
Outside Director
Shoji Fukui
End4