May 23, 2014

Company name:
Representative:
Contact:
Telephone:

Tamagawa Holdings Co., Ltd.
Toru Masuzawa, President(JASDAQ Code 6838)
Akihiro Ushiroda,
Administration Department+81-3-6435-6933

Notice concerning Tentative Decision on Change of Representative Director
and a New Management StructureThis is to give notice that that the board of directors of the Company convened on May 23, 2014, and decided
as set forth below to change the representative director and to establish a new management structure.
These matters are expected to be officially determined by resolution of the 46th Annual General Meeting ofShareholders scheduled to be held on June 27, 2014, and by resolution of the Company's board of directors
meeting and corporate auditors meeting which will be convened following the shareholders meeting.

1. New Corporate Officers(1) New corporate officers
Toru Masuzawa
Masanori Kobayashi
Naruhito Kusaka (external)
Yukihiro Akimoto (external)
Kozaburo Miyauchi (external)
Hiroyuki Ueno
Takashi Nagahama (external)
Tsuneo Suzuki (external)

President
Director
Director (external)
Director (external)
Director (external)
Corporate auditor
Corporate auditor (external)
Corporate auditor (external)

Re-appointment
Re-appointment
Re-appointment
New appointment *See attachment
New appointment *See attachment

New appointment *See attachment(2) Reason for the personnel change
In order to exercise proper management judgment in prompt response to changes in economic conditions
and the business environment, the Company has decided to install multiple officers each for the offices ofexternal director and external corporate auditor. In the area of compliance, the Company strives to reinforce
its corporate governance and intends to achieve a more robust level of fairness and transparency ofcompany management while also constructing a solid management foundation and raising corporate value.
(3) Prospective date of the personnel change
June 27, 2014

2. Changes in Corporate Officers(1) Change in representative director
1. Retiring representative director (prospective)
Setsuya Fukunaga
2. Reason for the personnel change
Retirement of the representative director due to the expiration of the term of office
3. Date of retirement
Upon conclusion of the 46th Annual General Meeting of Shareholders scheduled to be held on June 27,2014.
(2) Resignation of corporate auditor
1. Retiring corporate auditor
Corporate auditor – Junkichi Kurosawa (external corporate auditor)
2. Reason for resignation
For personal reasons
3. Date of resignation
Upon conclusion of the 46th Annual General Meeting of Shareholders scheduled to be held on June 27,2014.

(Attachment)(1) Career summary, etc., of new director candidate
Yukihiro Akimoto
Date of birth

April 13, 1967

April 1990

Joined Tateyama Aluminum, Inc.

November 1994

External assignment with Ceramic Material Department at ITOCHU Corp.

April 2000

Joined Retail Office, Lifestyle Material Unit of ITOCHU Corp.

August 2000

Established Retail Branding Co., Ltd. and served as Representative Senior Managing DirectorJune 2004

President and Representative Director at Retail Branding Co., Ltd. (present post)

November 2007

Director at Narumiya International Co., Ltd.

June 2009

Director at Ise (Hong Kong) Co., Ltd.

July 2009

Director at Ise (China) Co., Ltd.

April 2011

Director at H.ISE Singapore Pte. Ltd. (present post)

March 2012

Director at Kozosushi Co., Ltd. headquarters

April 2014

President and Representative Director at ISE Power Co., Ltd. (present post)

Kozaburo Miyauchi
Date of birth

February 16, 1949

April 1973

Joined New Japan Securities Co., Ltd. (current Mizuho Securities Co., Ltd.)

November 1984

Sales Manager at New Japan Securities Co., Ltd. (Hong Kong)

April 1989

President and Representative Director at New Japan Merchant Bank (Singapore)May 1997

President and Representative Director at New Japan Securities Europe

May 2003

Started own businessAugust 2011

Adviser at COSMO & Company Co., Ltd. (present post)

December 2011

Full-time corporate auditor at Maruman & Co., Ltd. (present post)(2) Career summary, etc., of new corporate auditor candidate
Tsuneo Suzuki
Date of birth

March 13, 1954

April 1976

Joined Yamaichi Securities Co., Ltd.

April 1998

Joined Commerzbank AG, Tokyo Branch; Assistant Director of Corporate BusinessDepartment, head of the Marketing Department
Joined the Inspection Bureau of the Financial Services Agency, Coordination and Inspection
Division
Securities inspector at Inspection Division, Securities and Exchange Surveillance Commission
BureauSpecial inspector at Inspection Division, Securities and Exchange Surveillance Commission
BureauApril 2004
July 2005
July 2007
July 2009

Special inspector at Inspection Coordination Division, Inspection Bureau of the FSA

July 2011

Chief Inspector (Director of Fourth Department) at Securities and Exchange SurveillanceCommission Bureau
Chief Inspector (Director of First Department) at Securities and Exchange SurveillanceCommission Bureau

July 2012
March 2014

Retired from Securities and Exchange Surveillance Commission Bureau