March 19, 2018
SMBC Nikko Securities Inc.

Organizational and Personnel Changes

SMBC Nikko Securities Inc. announces organizational and personnel changes as follows.
1. Organizational Changes (Effective as of March 19, 2018)(1) Product Marketing
・Product Marketing Planning Division is transferred from Product Planning to ProductMarketing.
(2) Capital Markets Origination
・Debt Capital Markets Division Section III is reorganized as Public Sector Debt CapitalMarkets Division.
(3) Alliance Business
・SMBC Alliance Business Development Osaka Division is abolished and the business istransferred to SMBC Alliance Business Development Division.
(4) Regional Corporate Clients
・Regional Corporate Clients is abolished.
(5) Solution Strategy
・Solution Strategy is established.
・Solution Business Planning Division is transferred from Solution Business Planning toSolution Strategy.
・Solution Business Planning I Division is transferred from Private Banking to Solution
Strategy.
・Regional Corporate Business Promotion Division is transferred from Regional Corporate
Clients to Solution Strategy.
(6) Corporate Banking
・Corporate Banking I-II Divisions are reorganized as Investment Banking VIII.
・Mergers and Acquisitions Advisory III Division is established.
・Corporate Banking Osaka Division is renamed Investment Banking Osaka Division.
(7) IPO Underwriting & Consulting, Investment Banking・Private Companies III Division is established.

This material is an English translation of Japanese announcement made on March 19, 2018. Although the company
intended to faithfully translate the Japanese document into English, the accuracy and correctness of this translation are
not guaranteed and thus you are encouraged to refer to the original Japanese document.

(8) Investment Banking・Investment Banking II Division is abolished and the business is transferred to Investment
Banking I and III Divisions.
・Mergers and Acquisitions Advisory I-II Divisions are established.

22. Changes in Directors and Executive Officers (Effective as of March 19, 2018)(1) Retirement of Directors and Executive Officers

Yoshimi Miura

AdvisorKoichi Maeda

AdvisorYuji Kawahara

Executive Managing Director, Nikko Business Systems Co.,
Ltd. (Effective as of April 1, 2018)

Yoshio Morizane

Executive Managing Director, Nikko Enterprise Co., Ltd.
(Effective as of April 1, 2018)

Satoshi Kawamura

Executive Managing Director, Nikko Systems Solutions, Ltd.
(Effective as of April 1, 2018)(2) Changes in Directors and Executive Officers

Masashi Iwakigawa

Executive Officer, Executive Deputy President, Head ofInternational Business Unit, Financial & Public Institutions Unitand Head of International Business

Kohei Hirota

Executive Officer, Executive Deputy President, Representative
Managing Director of Osaka, Head of Corporate Clients Unit
and Investment Banking Unit

Hiroshi Mishima

Senior Executive Officer, Head of Product Marketing Unit andHead of Global Markets Unit

Hiroaki Toyoda

Senior Executive Officer, Head of Sales Unit

Yoshiyuki Ninomiya

Managing Executive Officer, Head of IPO Underwriting &Consulting, Investment Banking

Yuichiro Kondo

Executive Managing Director, Head of Planning Unit

Masayoshi Furusho

Executive Managing Director, Head of Human Resources Unit
and Head of Human Resources

Naoki Takahashi

Managing Executive Officer, Senior Deputy Head ofCorporate Clients Unit and Senior Deputy Head of Investment
Banking Unit

Tomonari KimuraManaging Executive Officer, Head of Corporate Clients Osakaand Head of Corporate Banking (Investment Banking Osaka)

Kazuhiro Notsu

Managing Executive Officer, Head of Corporate Planning3

Masaharu Suenaga

Managing Executive Officer, Head of Corporate Clients(Corporate Clients III, Corporate Clients V, Corporate Clients
VIII, Corporate Clients X) and Head of Corporate Business

Masashi Sakamoto

Managing Executive Officer, Head of Sales Planning

Mitsuhiro Akiyama

Managing Executive Officer, Representative Managing
Director of Nagoya and Head of Corporate Clients Nagoya

Tadaaki Komori

Managing Executive Officer, Head of Investment
Banking(Investment Banking I, Investment Banking V,
Mergers and Acquisitions Advisory, Mergers and Acquisitions
Advisory I, Mergers and Acquisitions Advisory II, Mergers andAcquisitions Solutions)

Hideyuki Aoki

Executive Officer, Head of Kyushu/Okinawa District

Hiroshi Inoue

Executive Officer, Head of Investment Banking (Investment
Banking III, Public Sector Business Advisory)

Tomonaga Takaoka

Executive Officer, Head of Alliance Business, Customer
Service and Senior Deputy Head of Sales Planning

Hideki Sakamoto

Executive Officer, Head of Investment Banking (InvestmentBanking IV, Investment Banking VI, Investment Banking VII,
Industrial Research, Investment Banking Strategies) and Headof Corporate Banking(Investment Banking VIII, Mergers andAcquisitions Advisory III)

Yaoki Tsutsumi

Executive Officer, Head of Finance and General Manager,
Financial Planning

Shinsuke Ushijima

Executive Officer, Head of Product Marketing

Seiichi Inaba

Executive Director, Head of Internal Audit

Susumu Kanda

Executive Officer

Shunta Ide

Executive Officer, Head of Financial Markets and Co-Head ofResearch (Financial Market & Economic Research) andGeneral Manager, Derivatives Market

Nobu Sakamoto

Executive Officer, Head of Solution Strategy

Kazuyoshi Fukushima

Executive Officer, Head of Hokkaido/Tohoku/Shinetsu District

Hidetsugu Oki

Executive Officer, Head of Corporate Clients (CorporateClients I, Corporate Clients II, Corporate Clients VII)

Hideki Sudo

Executive Officer, Head of Private Banking4

Ken Tanizaki

Executive Officer, Head of Shutoken West District

Keiji Wada

Executive Officer, Head of Shutoken East District

Hironori Hattori

Executive Officer, Senior Deputy Head of Financial Markets

Honami Watanabe

Executive Officer, Senior Deputy Head of Sales Planning

Hajime Kawakami

Executive Officer, General Manager, Main Branch

Tatsuya Shiine

Executive Officer, General Manager, Human Resources53. Personnel Changes (Effective as of March 19, 2018)
Shinya Tamoto

Deputy Head of Compliance

Masanori Ogawa

Deputy Head of Customer ServiceAkihisa Yamamoto

Deputy Head of Customer ServiceYoshiyasu Yasui

Deputy Head of Alliance Business

Kenichi Fujisaki

Deputy Head of Solution Strategy

Kazuhiko Nozaki

General Manager, Asahikawa Branch

Kiminobu Tani

General Manager, Sapporo Branch

Kimihiro Utsumi

General Manager, Nagano Branch

Naohito Ikeda

General Manager, Niigata Branch

Mitsunori Inoshima

General Manager, Fukushima Branch

Kazutaka Tachi

General Manager, Yamagata Branch

Naohisa Tsurumaru

General Manager, Akabane Branch

Hiroshi Toda

General Manager, Utsunomiya BranchSatoru Kimura

General Manager, Omiya Branch

Sotaro Shiba

General Manager, Kofu Branch

Yuji Anashige

General Manager, Shinjuku Branch

Yoshinao Aoyama

General Sales Manager, Takasaki Branch

Kentaro Gushima

General Manager, Tachikawa Branch

Shintaro Oikawa

General Manager, Hachioji Branch

Kenji Morinaga

General Manager, Ichigaya BranchTakeshi Kiura

General Manager, Otemachi Branch

Masato Inagaki

General Manager, Chiba Branch

Satoshi Sugiyama

General Sales Manager, Chiba Branch

Yasushi Ise

Deputy General Manager, Main Branch
6Arihiro Den

General Manager, Financial Institutions Tokyo

Takamichi Takahashi

General Manager, Atsugi Branch

Motokiyo Ueno

General Manager, Shibuya Branch

Hiroki Miura

General Manager, Tamagawa Branch

Hirotoshi Nagai

General Manager, Machida Branch

Sotaro Kondo

General Manager, Okazaki Branch

Kimitoshi Utsunomiya

General Manager, Kanazawa Branch

Makoto Koyama

General Manager, Shizuoka Branch

Hiroki Tongu

General Manager, Takaoka Branch

Masayuki NishizakaGeneral Manager, Toyama Branch

Yoshinori Hirahara

General Manager, Nagoya BranchTakeshi Inoue

General Manager, Yokkaichi Branch

Yasushi Nakayama

General Manager, Osaka Branch

Masanao Kishita

General Manager, Kyoto BranchTomonobu Ishida

General Sales Manager, Kyoto Branch

Yuko Takaishi

General Manager, Senri-chuo Branch

Susumu Inoue

General Manager, Ashiya Branch

Keiichi Yazawa

General Manager, Okayama Branch

Masaki Furukawa

General Manager, Kochi Branch

Naoya Yoshioka

General Manager, Institutional Business Kobe

Masashi Iguchi

General Manager, Takamatsu Branch

Shigeru Muramatsu

General Manager, Nishinomiya Branch

Keiji Kubo

General Manager, Matsuyama Branch

Masahiro Yamaguchi

General Manager, Yonago Branch

Hirotaka Yuasa

General Manager, Nagasaki Branch
7

Tetsuji Miyauchi

General Manager, Fukuoka Branch

Kazuhiro Kuki

General Manager, Miyazaki Branch

Kazuya Hamaguchi

General Manager, Institutional Business Yamaguchi

Shinya Yamamoto

General Manager, Internal Audit

Makoto Nishioka

Senior Deputy Head of Product Marketing

Susumu Masuda

Deputy Head of Financial Markets

Hideki Ukai

General Manager, Credit & Non-Yen Rates

Fumio Takamatsu

General Manager, Debt Capital Markets

Atsuhiro Fujii

General Manager, Public Sector Debt Capital Markets

Tetsuo Takatsugu

Deputy Head of International Business

Shinsuke Yoshioka

General Manager, Management Planning & Administration

Hideki Inada

General Manager, Customers Satisfaction Improvement
PlanningShu Takeda

General Manager, Tokyo Contact Center

Naoto Adachi

General Manager, Okinawa Contact Center

Takahito Gochomori

Deputy Head of Solution Strategy

Hitoshi Matsugano

General Manager, Solution Business Planning

Hiroaki Takano

General Manager, Corporate Clients III

Hitoshi Yamakage

General Manager, Corporate Clients VI

Hideaki Uenishi

General Manager, Corporate Clients VII

Kazuya Iinuma

General Manager, Investment Banking VIII

Yoshiaki Yamano

General Manager, Mergers and Acquisitions Advisory III

Hidetomo Katsuki

General Manager, Investment Banking Osaka

Mikio Tokusashi

Deputy Head of IPO Underwriting & Consulting, Investment
BankingTomoharu Sato

General Manager, Private Companies II8

Tadatoshi Senoo

General Manager, Private Companies III

Takashi Sakai

General Manager, Investment Banking IPO

Hideo Sudo

Deputy Head of Investment Banking

Naoki Toyoizumi

Senior Deputy Head of Investment Banking and GeneralManager, Mergers and Acquisitions Advisory

Yuji Takeuchi

General Manager, Investment Banking IV

Nobuhiko Kimura

General Manager, Mergers and Acquisitions Advisory I

Taro Ishida

General Manager, Mergers and Acquisitions Advisory II

Noriyuki Kono

General Manager, Mergers and Acquisitions Solutions

Yoshiki Hizukuri

General Manager, Public Institutions Operation

Shinji Kadokawa

General Manager, Public Institutions I

Katsuhiro Monna

General Manager, Public Institutions Osaka###9