March 26, 2014
SMBC Nikko Securities Inc.

Organizational Changes

SMBC Nikko Securities Inc. announces organizational changes as follows.
1. Organizational Changes (Effective as of March 26, 2014)(1) Compliance (Reorganized )Retail Compliance Division is renamed Branch Business Compliance Division.
(2) Risk Management (Reorganized)
Underwriting Reviews Division is transferred from Compliance.
(3) Products Planning & Operation (Reorganized)
Financial Markets Planning Division is transferred from Financial Markets.
(4) Equity (Reorganized)
Equity Solution Section is reorganized as Equity Solution Division.
Corporate Access Division is transferred from Products Planning & Operation.
(5) Financial Markets (Reorganized)
The business of NBA Research Division is transferred to Corporate Business Solution
Division and Financial Markets Planning Division, and NBA Research Division is abolished.
(6) Capital Markets Origination (Reorganized)
Capital Markets Execution Division is transferred from Investment Banking.
(7) Mergers and Acquisitions (Reorganized)
Mergers and Acquisitions I-III Divisions and Mergers and Acquisitions Osaka Division are
reorganized as Mergers and Acquisitions I-VI Divisions.
(8) International Business (Reorganized)
International Business Division is reorganized as International Business Planning Division
and International Business Supervisory Division.
(9) Corporate Planning (Reorganized)
Customer Relations Division is renamed Customers Satisfaction Improvement Planning
Division.
(10) Retail Business Planning (Change of name, Reorganized )Retail Business Planning is renamed Sales Business Planning.
Retail Business Planning Division is renamed Sales Business Planning Division.
Financial Products Intermediary Business - SMBC Marketing Division and Financial
Products Intermediary Business - Osaka SMBC Marketing Division are transferred from
Financial Products Intermediary Business.
SMBC Alliance Business Development Division and SMBC Alliance BusinessThis material is an English translation of Japanese announcement made on March 26 2014. 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.

Development Osaka Division are established at Sales Business Planning.
(11) Institutional Business Planning (Reorganized)
Institutional Business Planning Division is renamed Wholesale Business Planning Division.
Investment Banking Administration Division is transferred from Investment Banking.
(12) Solution Business (New)
Solution Business Planning Division is transferred from Sales Business Planning andPublic Institution Operation is transferred from Public Institutions.
Corporate Business Solution Division is established at Solution Business.
(13) Financial Products Intermediary Business (Reorganized)
The business of Financial Products Intermediary Business - SMBC Administration Division
is transferred to SMBC Alliance Business Development Division, and Financial ProductsIntermediary Business - SMBC Administration Division is abolished.
(14) Retail Business - Eastern Japan, Retail Business – Tokyo, Retail Business – Tokai & Koshinetsu,
Retail Business – Kinki & Hokuriku, Retail Business - Western Japan, Institutional Business
Eastern Japan, Institutional Business Kinki, Hokuriku & Tokai, Institutional Business WesternJapan (Reorganized)
Retail Business Eastern Japan, Retail Business – Tokyo, Retail Business – Tokai &Koshinetsu, Retail Business - Kinki & Hokuriku, Retail Business - Western Japan,
Institutional Business Eastern Japan, Institutional Business Kinki, Hokuriku & Tokai and
Institutional Business Western Japan are reorganized as Sales I - VIII.
(15) Institutional Business (New)Institutional Business Division is established at Institutional Business.
(16) Corporate Business and Investment Banking (Reorganized)
Corporate Business and Investment Banking are integrated into Corporate Business &Investment Banking.
(17) IPO Underwriting & Consulting (Reorganized)
Private Companies Division is reorganized as Private Companies I – II Divisions.

(18) Institutional Business Eastern Japan, Institutional Business Kinki, Hokuriku & Tokai and
Institutional Business Western Japan (Reorganized)
Institutional Business Saitama and Institutional Business Yokohama are reorganized as
Institutional Business Omiya and Institutional Business Yokohama-ekimae.
The business of Institutional Business Mito, Institutional Business Takasaki, Institutional
Business Gifu and Institutional Business Okayama are transferred to Branch Offices, andInstitutional Business Mito, Institutional Business Takasaki, Institutional Business Gifu andInstitutional Business Okayama are abolished.

22. Changes in Directors and Executive Officers (Effective as of March 26, 2014)(1) Retiring Directors[New] Advisor
Eiji Watanabe[Current] Representative Director, Vice Chairman

Naofumi Fuke

[New] Chairman, Nikko Systems Solutions, Ltd.
(Effective as of April 1, 2014)[Current] Senior Executive Managing Director(2) Retiring Executive Officers

Eiji Yamada[New] President & CEO, Nikko Financial Intelligence, Inc.
(Effective as of April 1, 2014)[Current] Senior Executive Officer[New] Senior Executive Managing Director

Kunio Sato
[Current] Senior Executive Officer[New] Senior Executive Managing Director
Akira Nokina[Current] Managing Executive Officer

Kenichi Tamura[New] President & CEO, Nikko Investor Relations., Ltd(Effective as of April 1, 2014)[Current] Managing Executive Officer[New] Advisor

Norihei Matsumoto[Current] Managing Executive Officer[New] Senior Executive Managing Director
Hiroshi Mishima[Current] Managing Executive Officer[New] Deputy Head of International BusinessShinya Tamoto[Current] Executive Officer

Hirofumi Ishimaru[New] Executive Managing Director, Nikko Business Systems
Co., Ltd.(Effective as of April 1, 2014)[Current] Executive Officer3(3) Appointment of Executive Director[New] Executive Director
Kunio Sato
[Current] Senior Executive Officer[New] Executive Director
Akira Nokina[Current] Managing Executive Officer[New] Executive Director
Hiroshi Mishima[Current] Managing Executive Officer(4) Appointment of Executive Officers[New] Executive Officer
Hitoshi Ueda
[Current] General Manager, Human Resources[New] Executive Officer
Shunshi Kira
[Current] Deputy Head of Capital Markets Origination[New] Executive Officer
Izumi Shimosaka[Current] General Manager, Yokohama-ekimae Branch[New] Executive Officer
Hideki Sakamoto[Current] General Manager, Corporate Clients IV[New] Executive Officer
Shuji Yoshioka[Current] Deputy Head of Equity(5) Promotion of Directors and Executive Officers[New] Senior Executive Managing Director
Kunio Sato
[Current] Executive Director[New] Senior Executive Managing Director
Akira Nokina[Current] Executive Director

4[New] Senior Executive Managing Director
Hiroshi Mishima[Current] Executive Director[New] Managing Executive Officer
Hiroaki Toyoda[Current] Executive Officer[New] Managing Executive Officer
Yoshiyuki Ninomiya[Current] Executive Officer[New] Managing Executive Officer
Akira Inoue[Current] Executive Officer(6) Changes in Executive Responsibilities[New] Head of Planning Unit
Masashi Iwakigawa

Noriyoshi Suzuki

Naofumi Fuke

[Current] Senior Executive Managing Director, Head ofPlanning Unit, Head of International Business, Head ofCorporate Planning, Head of Institutional Business Planningand Head of Retail Business Planning[New] Head of Wealth management & Corporate Business
Unit[Current] Senior Executive Managing Director, Co-Head ofCorporate Business & Investment Banking Unit
[New] (released) Head of Retail Unit, Head of WealthManagement Unit, Head of Customer Service and Head ofFinancial Products Intermediary Business[Current] Senior Executive Managing Director, Head of
Wealth Management Unit, Head of Customer Service andHead of Financial Products Intermediary Business[New] Head of Financial & Public Sector Business Unit

Shuichi Kondo

Yasuki Matsui[Current] Senior Executive Managing Director, Head of
Products Unit and Head of Products Planning & Operation[New] Head of Capital Markets Unit and Head of Corporate
Business & Investment Banking Unit
[Current] Senior Executive Managing Director, Co-Head ofCorporate Business & Investment Banking Unit
[New] Head of Sales Unit and Head of Institutional BusinessAkira Nokina[Current] Managing Executive Officer, Head of Institutional
Business Unit

5

[New] Head of Products Unit
Hiroshi Mishima

Eiji Yamada[Current] Managing Executive Officer, Senior Deputy Head of
Products Unit
[New] (released) Head of Financial & Public
SectorBusiness Unit and Head of Financial & Public Sector
Business[Current] Senior Executive Officer, Head of Financial & Public
Sector Business Unit and Head of Financial & Public Sector
Business[New] Senior Deputy Head of International Business

Hisato Oiwa

[Current] Managing Executive Officer, Head of CapitalMarkets Unit, Head of Capital Markets Origination and Senior
Deputy Head of Products Planning & Operation[New] (released) Head of Investment Banking

Kenichi Tamura[Current] Managing Executive Officer, Head of Investment
Banking[New] Head of Sales V

Hiroshige Jikihara[Current] Managing Executive Officer, Head of Retail Business- Tokyo[New] Head of Internal Audit

Hitoshi Chinen

Norihei Matsumoto

Fumihiko Yamanaka

Hiroaki Toyoda

Yoshiyuki Ninomiya

Shinya Tamoto[Current] Managing Executive Officer, Head of Public
Institutions[New] (released) Co-Head of Financial Markets and Co-Headof Research (Financial Market & Economy Research)[Current] Managing Executive Officer, Co-Head of Financial
Markets and Co-Head of Research (Financial Market &Economy Research)[New] Head of Financial Markets and Co-Head of Research(Financial Market & Economy Research)[Current] Managing Executive Officer, Co-Head of Financial
Markets[New] Senior Deputy Head of Products Unit and Head of
Products Planning[Current] Executive Officer, Head of Retail Business - Kinki &Hokuriku[New] Senior Deputy Head of Sales Unit and Head ofCustomer Service[Current] Executive Officer, Senior Deputy Head of Retail
Business Planning[New] (released) Head of Internal Audit

6

[Current] Executive Officer, Head of Internal Audit

Yasushi Tachihara[New] Head of Sales Business Planning and Head of Solution
Business[Current] Executive Officer, Head of Administrative Operation[New] Head of Financial & Public Sector BusinessYuichiro Kondo[Current] Executive Officer, Senior Deputy Head of CapitalMarkets Origination[New] Head of Sales VI

Kenichi Hida

[Current] Executive Officer, Senior Deputy Head of Corporate
Planning and Senior Deputy Head of Institutional Business
Planning[New] Head of Administrative Operation

Takashi Aiki

[Current] Executive Officer,
Administrative Operation

Senior

DeputyHeadof[New] Head of Sales I
Koichi Obara

Hirofumi Ishimaru

Susumu Kanda[Current] Executive Officer, Head of Institutional Business
Eastern Japan[New] (released) Head of Retail Business - Tokai &Koshinetsu[Current] Executive Officer, Head of Retail Business - Tokai &Koshinetsu[New] Head of Corporate Business & Investment Banking(Corporate Clients III, Corporate Clients V, Corporate Clients
VIII, Investment Banking I and Investment Banking V) and
General Manager of Corporate Clients V[Current] Executive Officer, Head of Corporate Business(Corporate Clients IV, Corporate Clients V and Corporate
Clients VIII) and General Manager of Corporate Clients V[New] Head of Public Institutions

Tatsuya Shiomi[Current] Executive Officer, Head of Corporate Business(Corporate Clients I, Corporate Clients III and Corporate
Clients VII)[New] Head of Sales IV

Hideyuki Aoki

[Current] Executive Officer, Head of Institutional Business
Kinki, Hokuriku & Tokai[New] Head of Sales VII

Satoshi Osawa[Current] Executive Officer, Head of Institutional Business
Western Japan
7

Kazuhiro Notsu[New] Head of Corporate Planning and Head of Institutional
Business Planning[Current] Executive Officer, Senior Deputy Head of Corporate
Planning and Senior Deputy Head of Institutional Business
Planning[New] Head of Sales II

Noriaki Iriya

Masaharu Suenaga[Current] Executive Officer, Head of Retail Business - EasternJapan[New] Head of Corporate Business & Investment Banking(Corporate Clients IV, Corporate Clients VI, Investment
Banking III and Investment Banking IV)[Current] Executive Officer, Head of Corporate Business(Corporate Clients VI) and General Manager of Corporate
Clients VI[New] Head of Sales III

Masayoshi Furusho

Tomonaga Takaoka

Naoki Takahashi[Current] Executive Officer, Head of Retail Business Western Japan[New] Head of Financial Products Intermediary Business andSenior Deputy Head of Sales Business Planning[Current] Executive Officer, Senior Deputy Head of Retail
Business Planning and Senior Deputy Head of Financial
Products Intermediary Business[New] Head of Corporate Business & Investment Banking(Corporate Clients I, Corporate Clients II, Corporate Clients
VII, Investment Banking II and Industrial Research)[Current] Executive Officer, Head of Corporate Business(Corporate Clients II) and General Manager of Corporate
Clients II[New] Head of International Business

Takahiro Yazawa

3.

[Current] Executive Officer,
International Business

Senior

DeputyHeadof

Shunshi Kira

[New] Head of Capital Markets Origination

Izumi Shimosaka[New] Head of Sales VIII

Hideki Sakamoto[New] General Manager of Corporate Clients IV and General
Manager of Investment Banking III

Shuji Yoshioka[New] Senior Deputy Head of Equity

Change in Genral Manager’s Responsibilities of Executive Officer (Effective as of March 26,
2014)[New] Head of Corporate Business Osaka and General
Tomonari KimuraManager of Corporate Clients Osaka II

8[Current] Executive Officer, Head of Corporate BusinessOsaka

4. Personnel Changes (Effective as of March 26, 2014)[New] Deputy Head of International BusinessShinya Tamoto[Current] Head of Internal Audit[New] Deputy Head of Institutional BusinessToshio Sadayuki[Current] Deputy Head of Public Institutions[New] General Manager, Akita Branch
Masafumi Yoda

[Current] General Manager, Institutional Business Kyoto[New] General Manager, Institutional Business Omiya
Takeo Harada[Current] General Manager, Institutional Business Saitama

Kazuyoshi Takahashi[New] Deputy General Manager of Sapporo Branch andGeneral Manager of Institutional Business Sapporo[Current] General Manager, Institutional Business Sendai[New] General Manager, Sendai Branch

Tatsuya Shiine[Current] General Manager, Fixed Income Marketing[New] General Manager, Institutional Business Sendai
Keiichi Horie[Current] General Manager, Institutional Business Mito[New] Deputy General Manager, Takasaki Branch
Takayuki Sasaki[Current] Section Manager, Consultant Section, Nagoya
Branch[New] Deputy General Manager, Mito Branch

Junichi Kamiyama[Current] Personnel Development Division[New] General Manager, Asahikawa Branch
Hideki Okamoto[Current] Section Manager, Consultant Section, Yaesu
Branch9

[New] General Manager, Urawa BranchToshiko Osumi[Current] General Manager, Oizumi Branch[New] General Manager, Oizumi Branch
Saori Kobayashi[Current] Section Manager of Personal Advisor Section andSection Manager of Counter Service Section, Osaka Branch[New] General Manager, Otemachi Branch

Shigeo Irie
[Current] General Manager, Matsuyama Branch[New] General Manager, Kamata Branch
Shoichiro Shimura[Current] Section Manager, Marketing Support Section, Retail
Business Planning Division[New] General Manager, Kitasenju Branch

Kazunori Hata
[Current] General Manager, Urawa Branch[New] General Manager, Gotanda Branch
Takayuki Yokoyama[Current] Retail Business Support Section, Retail Business
Planning Division[New] General Manager, Tsudanuma Branch

Tatsuro Horie[Current] General Manager, Kanazawa Branch[New] General Manager, Yaesu Branch
Masao Tomita[Current] General Manager, Retail Compliance[New] Deputy General Manager, Ikebukuro Branch
Naohisa Tsurumaru[Current] General Manager, Shinyurigaoka Branch[New] General Manager, Kawasaki Branch
Dai Takahashi[Current] Deputy General Manager, Fukuoka Branch[New] General Manager, Shibuya Branch
Keiji Wada
[Current]General Manager, Personnel Development

10[New] General Manager, Shimokitazawa Branch
Naoko Hayashi[Current] Section Manager of Personal Advisor Section andSection Manager of Counter Service Section, Main Branch[New] General Manager, Shinjuku Branch

Kazuyoshi Fukushima[Current] General Manager, Kyoto Branch[New] General Manager, Shinyurigaoka Branch
Mitsumi Ukai

[Current] Retail Business Support Section, Retail Business
Planning Division[New] General Manager, Chofu Branch

Etsuko Okada[Current] General Manager, Asahikawa Branch[New] General Manager, Kofu Branch
Kimihiro Utsumi[Current] General Manager, Matsumoto Branch

Kazuhiko Terakado[New] General Manager of Institutional Business Shizuoka
and General Manager of Institutional Business Hamamatsu[Current] General Manager, Corporate Clients I[New] General Manager, Institutional Business Chiba

Masakazu Yasuda[Current] Deputy General Manager, Institutional Business
Chiba[New] General Manager, Matsumoto Branch

Kiminobu Tani
[Current] Deputy General Manager, Corporate Clients III[New] General Manager, Yokohama-ekimae Branch
Hideaki Inaoka[Current] General Manager, Corporate Clients III

Koji Abe[New] Deputy General Manager of Yokohama-ekimae
Branch and General Manager of Institutional BusinessYokohama-ekimae[Current] General Manager, Institutional Business Yokohama[New] Deputy General Manager, Osaka Branch

Hiroshi Toda
[Current] General Manager, Nagasaki Branch

11[New] General Manager, Nagoya Branch
Shinsuke Ushijima[Current] President & CEO, SMBC Nikko Securities (HongKong) Limited[New] General Manager, Nagoya-ekimae Branch

Takuya Higashitaki[Current] General Manager, Himeji Branch[New] General Manager, Himeji BranchToshinobu Genozono[Current] General Manager, Kumamoto Branch[New] General Manager, Kanazawa Branch
Naohito Ikeda[Current] General Manager, Institutional Business Kobe
[New] Deputy General Manager, Gifu Branch
Tsugumichi Hino
[Current] General Manager, Miyazaki Branch[New] General Manager, Kyoto Branch
Seiichi Inaba[Current] General Manager, Shibuya Branch

Masayasu Onishi[New] Deputy General Manager of Kyoto Branch and General
Manager of Institutional Business Kyoto[Current] Deputy Head of Institutional Business Kinki,
Hokuriku & Tokai[New] General Manager, Fukui Branch

Keita Usami[Current] Deputy General Manager, Osaka Branch[New] General Manager, Financial Institutions Nagoya
Kazutoshi Nakata[Current] General Manager, Fixed Income Trading I[New] Deputy General Manager, Okayama Branch
Sadahiro Yoshida[Current] General Manager, Shimokitazawa Branch[New] General Manager, Kobe Branch
Satoshi Kawamura[Current] General Manager, Sendai Branch

12

Yoshiyuki Wada[New] Deputy General Manager, Kobe Branch and General
Manager of Institutional Business Kobe
[Current] General Manager, Yonago Branch[New] General Manager, Hiroshima Branch

Hiroki Kishi[Current] General Manager, Otemachi Branch[New] Deputy General Manager, Hiroshima Branch
Yukiharu Shiromizu

Naoya Nobori[Current] Section Manager, Consultant Section,
Yokohama-ekimae Branch[New] Deputy General Manager of Hiroshima Branch andGeneral Manager of Institutional Business Hiroshima[Current] General Manager, Institutional Business Hiroshima[New] General Manager, Yonago Branch

Yoshihiro Hayata[Current] General Manager, Corporate Clients Osaka I[New] General Manager, Kumamoto Branch
Toyo Mizuno[Current] General Manager, Public Institutions I[New] General Manager, Nagasaki Branch
Hiroshi Tokuda[Current] General Manager, Akita Branch[New] Deputy General Manager, Fukuoka Branch
Yoshiyuki Suzuki[Current] General Manager, Kofu Branch

Shuichi Ikeuchi[New] Deputy General Manager of Fukuoka Branch andGeneral Manager of Institutional Business Fukuoka[Current] General Manager, Institutional Business Chiba[New] General Manager, Matsuyama Branch

Noboru Nakagawa[Current] General Manager, Public Institutions III[New] General Manager, Miyazaki Branch
Akinobu Hatanaka[Current] Deputy General Manager ,Personnel Development

13

[New] General Manager, Personnel Development
Shintaro Mima
[Current] Co-General Manager, Administrative Operation[New] General Manager, Branch Business Compliance
Hidemi Yanagisawa[Current] General Manager, Shinjuku Branch[New] General Manager, Administrative Operation
Atsushi Takahashi[Current] Co-General Manager, Administrative Operation[New] General Manager, System Planning & Operation
Yasuo Hiraga[Current] Deputy General Manager, System Planning &Operation[New] General Manager, Administrative Services

Hiroshi Yamamoto[Current] Deputy General Manager, Administrative Operation[New] Deputy Head of Products Planning
Hiroshi Nakazawa[Current] Deputy Head of Financial Markets[New] General Manager, Equity Solution Division
Mitsuyuki Iwata[Current] Section Manager, Equity Solution Section[New] General Manager, Fixed Income Marketing
Kimitoshi Utsunomiya[Current] General Manager, Kamata Branch[New] General Manager, Fixed Income Trading I
Koichi Yamaguchi

Masanori Maruo[Current] Deputy General Manager and Section Manager ofTrading I Section, Fixed Income Trading I Division[New] Deputy Head of Equity and Deputy Head of Research(Equity Research)[Current] Deputy Head of Equity[New] General Manager, Mergers and Acquisitions II

Yuichi Bando[Current] Mergers and Acquisitions I

14

[New] General Manager, Mergers and Acquisitions III
Hidetomo Katsuki[Current] General Manager, Mergers and Acquisitions II[New] General Manager, Mergers and Acquisitions IV
Masanao Kishita[Current] General Manager, Mergers and Acquisitions III[New] General Manager, Mergers and Acquisitions V
Yoshiaki Yamano[Current] Mergers and Acquisitions III[New] General Manager, Mergers and Acquisitions VI
Masahiro Nozaki[Current] General Manager, Mergers and Acquisitions Osaka[New] General Manager, International Business Planning
Narutoshi Terauchi[Current] Co-General Manager, Institutional Business
Planning[New] General Manager, International Business Supervisory

Naoki Okubo

Tatsumi Mizutani[Current] Deputy General Manager and Section Manager ofManagement Section, International Business Division[New] President & CEO, SMBC Nikko Securities (HongKong) Limited[Current] General Manager, International BusinessShinya Inose

Shohei Akiyama[New] General
Administration

Manager,Management

Planning[Current] Co-General Manager, Management Planning &Administration[New] General Manager, Customers Satisfaction
Improvement Planning[Current] General Manager, Customer Relations[New] General Manager, Sales Business Planning

Daiji Nakata[Current] General Manager, Retail Business Planning

Kingo Takagi[New] General Manager, SMBC Alliance Business
Development[Current] Deputy General Manager and Section Manager of
SMBC Alliance Business Planning Section, Retail Business
Planning Division15&

Shojiro Hirota[New] General Manager of SMBC Alliance Business
Development Osaka and General Manager of Financial
Products Intermediary Business - Osaka SMBC Marketing[Current] General Manager, Kobe Branchi[New] General Manager, Wholesale Business Planning

Teruya Sugino[Current] Co-General Manager, Management Planning &Administration[New] General Manager, Investment Banking Administration

Satoshi Ogiyama[Current] Deputy General Manager, Management Planning &Administration[New] General Manager, Solution Business Planning

Hirofumi Sato
[Current] General Manager, Nagoya Branch[New] General Manager, Corporate Business Solution
Nobuhiro Wakamatsu[Current] General Manager, Financial Institutions Nagoya[New] General Manager, Equity Advice Center
Kenji Nagano[Current] General Manager, Yaesu Branch[New] Deputy Head of Institutional Business
Tetsuji Komura[Current] Deputy Head of Institutional Business WesternJapan[New] Deputy Head of Institutional Business

Katsumi Oniki[Current] Deputy Head of Institutional Business EasternJapan[New] Deputy Head of Institutional Business

Koichi Urano[Current] Deputy Head of Institutional Business WesternJapan[New] General Manager, Institutional BusinessYoshito Tetsuda[Current] Investment Banking IV[New] General Manager, Public Institutions I
Kiyoyasu Ohazama[Current] Section Manager, Independent Financial Advisor
Business I Section, Financial Products Intermediary Business
Division
16

[New] General Manager, Public Institutions III
Tetsuji Miyauchi[Current] Deputy General Manager, Ikebukuro Branch[New] General Manager, Private Companies I
Atsushi Watanabe[Current] General Manager, Private Companies[New] General Manager, Private Companies II
Mikio Tokusashi[Current] General Manager, Investment Banking II[New] General Manager, Corporate Clients I
Yoshikazu Ishii[Current] Deputy General Manager, Corporate Clients I[New] General Manager, Corporate Clients II
Kazuya Iinuma[Current] Deputy General Manager, Corporate Clients II[New] General Manager, Corporate Clients III
Satoka Aizawa[Current] Deputy General Manager, Corporate Clients III[New] General Manager, Corporate Clients VI
Shunichiro Joya
[Current] General Manager, Investment Banking III[New] General Manager, Investment Banking II
Nobu Sakamoto[Current] General Manager, Investment Banking
Administration[New] General Manager, Corporate Clients Osaka I

Eiichiro Obana[Current] General Manager, Corporate Clients Osaka II

5. Personnel Changes (Effective as of March 31, 2014)(1) Retiring Executive Officer

Hisafumi Taima[New] President & CEO, Nikko Global Wrap Ltd.
(Effective as of April 1, 2014)[Current] Managing Executive Officer
17

(2) Changes in Executive Responsibilities

Hisafumi Taima[New] (released) Head of
Research(Equity Research)

Equityand

Co-Headof[Current] Managing Executive Officer, Head of Equity and
Co-Head of Research(Equity Research)

6. Changes in Executive Officers (Effective as of April 1, 2014)(1) Retiring Executive Officer[New] Sumitomo Mitsui Banking Corporation
Akira Nishii[Current] Executive Officer(2) Appointment of Executive Officer[New] Executive Officer
Trevor Hill
[Current] Equity[New] Executive Officer
Yukio Noda
[Current] Sumitomo Mitsui Banking Corporation(3) Promotion of Executive Officer[New] Managing Executive Officer
Trevor Hill
[Current] Executive Officer(4) Changes in Executive Responsibilities

Trevor Hill[New] Head of Equity, Co-Head of Research(Equity
Research) and General Manager of Equity sales - Institutional
Investors[New] (released) Senior Deputy Head of Compliance

Akira Nishii

Yukio Noda

[Current] Executive
Compliance

Officer,

Senior[New] Senior Deputy Head of Compliance18

DeputyHeadof(5) Change in General Manager’s Responsibility of Executive Officer

Tomonari Kimura[New] (released) General Manager of Corporate Clients
Osaka II
[Current] Executive Officer, Head of Corporate BusinessOsaka and General Manager of Corporate Clients Osaka II(6) Personnel Changes[New] General Manager, Corporate Access
Takashi Ohashi[Current] General Manager, Equity sales - Institutional
Investors[New] Senior Deputy Head of Equity

Nicholas Carrigan[Current] Equity
Yoshihiro Warita[New] General Manager, Equity Capital Markets[New] Deputy Head of International BusinessTakashi Sakai[Current] General Manager, Equity Capital Markets[New] General Manager, Corporate Clients Osaka II
Tadatoshi Senoo[Current] Sumitomo Mitsui Banking Corporation

7. Personnel Changes (Effective as of August 1, 2014)(1) Appointment of Executive Officer[New] Executive Officer
Hiroyuki Iwami[Current] Sumitomo Mitsui Banking Corporation(2) Promotion of Executive Officer[New] Managing Executive Officer
Hiroyuki Iwami[Current] Executive Officer(3) Change in Executive Responsibility
19

Hiroyuki Iwami[New] Senior Deputy Head of Corporate Business &Investment Banking Unit###

20