【NEWS RELEASE】
March 18, 2020
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 18, 2020)(1) Corporate Planning & Customer-Oriented Business Planning Corporate Planning is renamed Corporate Planning & Customer-Oriented BusinessPlanning.
(2) Innovation
Innovation is established.
Nikko Open Innovation Lab is established.

(3) Sales Planning Solution Business Planning Division transferred from Solution Strategy to SalesPlanning.
 Alliance Business Planning Division transferred from Direct Service & AllianceBusiness to Sales Planning.
(4) Direct Service Direct Service & Alliance Business is renamed Direct Service.
(5) East Japan District, Shutoken District, Tokai/Hokuriku/Shinshu District, Kinki /ShikokuDistrict,West Japan District
 Hokkaido/Tohoku/Shinetsu District, Shutoken District, Tokai/Hokuriku District, KinkiDistrict, West Japan District, Kyushu/Okinawa District are reorganized as EastJapan District, Shutoken District, Tokai/Hokuriku/Shinshu District, Kinki/ShikokuDistrict, West Japan District(6) Solution Strategy
 Solution Strategy is abolished.
(7) Regional Financial Institutions and Corporate Clients Regional Corporate Business Promotion Division transferred from Solution Strategy
to Regional Financial Institutions and Corporate Clients.

This material is an English translation of Japanese announcement made on March 18, 2020. Although the company intended to faithfullytranslate the Japanese document into English, the accuracy and correctness of this translation are not guaranteed and thus you areencouraged to refer to the original Japanese document.

(8) Private Banking
 Solution Business Planning I Division transferred from Solution Strategy to Private
Banking and reorganized as Private Wealth Strategy Division.
(9) Global Capital Markets Origination Capital Markets Origination Division is renamed Global Capital Markets Origination.
(10) Corporate Clients Osaka Investment Banking Osaka Division transferred from Corporate Banking to CorporateClients Osaka.
(11) Wholesale Business Planning Merchant Banking Division is established.

22. Changes in Directors and Executive Officers (Effective as of March 18, 2020)(1) Retirement of Directors and Executive Officers
Masashi Iwakigawa

AdvisorHiroshi Mishima

AdvisorAkira Inoue

AdvisorTomonaga Takaoka

Advisor

Yukio Noda

AdvisorHiroshi Nakazawa

Advisor

Hideaki Inaoka

Executive Managing Director, Nikko Investor Relations., Ltd.
(Effective as of April 1, 2020)

Hideki Sudo,Executive Managing Director, Nikko Research Center, Inc.
(Effective as of April 1, 2020)

Honami Watanabe

Executive Managing Director, Nikko Enterprise Co., Ltd.
(Effective as of April 1, 2020)(2) Changes in Directors and Executive Officers

Hitoshi Ishii

Executive Officer, Executive Deputy President, Head ofWholesale Business Unit

Taro Hayashi

Executive Officer, Executive Deputy President, Head of
Capital Markets Unit

Kazuhiro Notsu

Director and Senior Managing Executive Officer, Head ofPlanning Unit, Head of Finance, Head of Innovation andGeneral Manager, Nikko Open Innovation Lab

Shinya Inose

Director and Managing Executive Officer, Head ofAdministration Unit, Head of Board of Directors Office andHead of Compliance

Hiroaki Toyoda

Senior Managing Executive Officer,
Public Institutions Unit

Trevor Hill

Senior Managing Executive Officer, Head of Equity,
Co-Head of Research (Equity Research)

Kenichi Hida

Senior Managing Executive Officer, Head of Sales Unit

3

Head of Financial &Toshihiro Sato

Senior Managing Executive Officer, Head of Global Markets
Unit and Head of Global Markets Planning

Takahiro Yazawa

Managing Executive Officer, Senior Deputy Head ofInternational Business (based in London), and Chairman,
SMBC Nikko Capital Markets Limited

Takashi Aiki

Managing Executive Officer, Head of Administrative
Operation and Senior Deputy Head of Innovation

Tomonari KimuraManaging Executive Officer, Representative Managing
Director of Osaka and Kyoto and Head of Corporate Clients
Osaka

Masaharu Suenaga

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

Masashi Sakamoto

Managing Executive Officer, Senior Deputy Head of Sales
Unit (Direct Service) and Head of Product Marketing Unit

Tadaaki Komori

Managing Executive Officer, Senior Deputy Head ofWholesale Business Unit and Head of Mergers andAcquisitions Advisory

Shunshi Kira

Managing Executive Officer, Head of Global Capital Markets
Origination

Hideki Sakamoto

Managing Executive Officer, Senior Deputy Head ofWholesale Business Unit and Head of Investment Banking(Investment Banking IV, Investment Banking VII, Industrial
Research, Investment Banking Strategies)

Kazuya Noguchi

Managing Executive Officer, Head of Kinki /Shikoku District

Nobu Sakamoto

Managing Executive Officer, Senior Deputy Head of Sales
Unit and Head of Private Banking

Shuji Yoshioka

Executive Officer, Head of Corporate Business and Head ofWholesale Business Planning

Shinsuke Ushijima

Executive Officer, Head of Corporate
Customer-Oriented Business PlanningShunichiro Joya

Executive Officer, Head of Public Institutions

Teruya Sugino

Executive Officer, Head of Risk Management

Susumu Kanda

Executive Officer, Senior Deputy Head of Corporate
Banking, Senior Deputy Head of Regional Financial
Institutions, Corporate Clients and Executive Officer for
special missions

4Planning&Kazuyoshi Fukushima

Executive Officer, Head of East Japan District

Hidetsugu Oki

Executive Officer, Head of Corporate Clients (CorporateClients I, Corporate Clients II, Corporate Clients VII) andHead of Investment Banking (Investment Banking V, RealEstate Finance)

Hironori Hattori

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

Tatsuya Shiine

Executive Officer, Head of Financial & Public Institutions

Yoshinori Hirahara

Executive Officer, Head of Tokai/Hokuriku/Shinshu District

Bungo Miura

Executive Officer, Senior Deputy Head of International
Business (based in New York), and President, SMBC Nikko
Securities America, Inc.

Kayo Nakamura

Executive Officer, Senior Deputy Head of Private Bankingand General Manager, Private Banking III

Reiji Domoto

Executive Officer, Senior Deputy Head of Corporate Clients
Osaka and Senior Deputy Head of Regional Financial
Institutions and Corporate Clients

Kiichiro Hondo

Executive Officer, Head of Corporate Banking and Senior
Deputy Head of Regional Financial Institutions andCorporate Clients and Senior Deputy Head of Mergers andAcquisitions Advisory

Yuji Anashige

Executive Officer, Head of Shutoken District

Susumu Masuda

Executive Officer, Senior Deputy Head of Financial Markets
and Senior Deputy Head of Research (Financial Market &Economic Research)

Munehiro Yamada

Executive Officer, Head of Corporate Clients (CorporateClients IV, Corporate Clients VI, Corporate Clients IX)

Daiji Nakata

Executive Officer, Head of Sales Planning and Head ofDirect Service

Narutoshi Terauchi

Executive Officer, Sumitomo Mitsui Banking Corporation

Naoki Toyoizumi

Executive Officer, Senior Deputy Head of Mergers andAcquisitions Advisory and General Manager, Mergers andAcquisitions Advisory

Alexandre Avakiants

Executive Officer, Senior Deputy Head of Equity and Senior
Deputy Head of Research (Equity Research)5

4.

Personnel Changes (Effective as of March 18, 2020)
Toshiharu Suzuki

General Manager, Asahikawa Branch

Ryosuke Tobita

General Sales Manager, Sendai Branch

Akikazu Hamaya

General Manager, Institutional Business Niigata

Seiki Hirakawa

General Sales Manager, Omiya Branch

Kimitoshi Utsunomiya

General Manager, Shinjuku Branch

Takahiro Takeuchi

General Manager, Atsugi Branch

Kazuhiko Nozaki

General Manager, Kanazawa Branch

Shuji Ueno

General Manager, Nagano Branch

Kazuya Hamaguchi

General Manager, Financial Institutions Nagoya

Kazuhiro Kishimoto

General Manager, Moriguchi Branch

Tetsuji Miyauchi

General Manager, Okayama Branch

Yoshihiko Hatano

General Manager, Kita-Kyushu Branch

Keiichi Yazawa

General Manager, Kobe Branch

Kimihiro Utsumi

General Manager, Hiroshima Branch

Seiji Kato

General Manager, Fukuoka Branch

Masaaki Yamamoto

General Manager, Institutional Business Yamaguchi

Kunihiro Ouchi

General Manager, Human Resources

Kenichi Igawa

General Manager, Financial Planning

Satoshi Nakajima

General Manager, Private Banking Strategy & Planning

Yuichiro Kibe

General Manager, Private Wealth Strategy

Katsuhisa Kadonosono General Manager, Osaka Private Banking
Masami Uchida

General Manager, Corporate Clients IV

Yoshihiro Miyachi

General Manager, Corporate Clients V

Naka Orita

General Manager, Merchant Banking65.

Retirement of Executive Officer (Effective as of March 31, 2020)
Naoki Takahashi

6.

Organizational Changes (Effective as of April 1, 2020)(1) Corporate Banking Investment Banking IX Division is established.
7.

Changes in Directors and Executive Officers (Effective as of April 1, 2020)（1） Retirement of Director
Tetsuya KuboAdvisor（2） Changes in Directors and Executive Officers
Yoshihiko Shimizu

Representative Director, Chairman

Yuichiro Kondo

Representative Director, President & CEO###7