Announcement of Changes in Management, Personnel and Organization
TOKYO, March 22, 2017 - Monex Group, Inc. (“the Company”) hereby announces the names of director
candidates of the Company as well as changes in management, personnel and organization of its groupcompanies listed below:
Monex Group, Inc.
Monex, Inc.
Monex-Saison-Vanguard Investment Partners, Inc.

I. Monex Group, Inc.
1. Director Candidates
The Nominating Committee of the Company determined the nominees of the members of its board of
directors to be proposed by the Company to its annual general meeting of shareholders to be held in
June 2017.
The details of the 13th annual general meeting of shareholders will be disclosed on the website of theCompany as soon as they have been decided.
Names of Director Candidates
Notes:- Among the eleven candidates, two are nominated for new appointment and nine are nominated for
re-appointment. Six candidates satisfy qualifications as independent and outside directors.
- Please refer to “Supplementary Information No.1” below for the reasons for their nomination andtheir important concurrent positions at other organizations.
- <Independent and Outside Director> is used to denote candidates for independent and outside
directors.
Oki Matsumoto *For re-appointment- Managing Director, Chairman of the Board, Member of the Nominating Committee andMember of the Compensation Committee- Representative Executive Officer, President and Chief Executive Officer
Shoji Kuwashima *For re-appointment- Managing Director and Vice Chairman- Executive Officer and Chief Quality Officer
Takashi Oyagi *For re-appointment- Managing Director- Executive Officer and Chief Strategic Officer
Koichi Tateno *For new appointment- Executive Officer, Chief Operating Officer and Co-Chief Financial Officer

1Toshihiko Katsuya *For new appointment- Executive Officer
Jun Makihara <Independent and Outside Director > *For re-appointment- Lead Independent Director, Chair of the Compensation Committee and Member of theNominating Committee
Nobuyuki Idei <Independent and Outside Director > *For re-appointment- Director, Chair of the Nominating Committee and Member of the Compensation Committee- Founder and CEO, Quantum Leaps Corporation
Koji Kotaka <Independent and Outside Director >- Director and Chair of the Audit Committee- Attorney at Law*For re-appointment

Fujiyo Ishiguro <Independent and Outside Director > *For re-appointment- Director and Member of the Nominating Committee- President & CEO, Netyear Group Corporation
Billy Wade Wilder <Independent and Outside Director > *For re-appointment- Director and Member of the Audit Committee- Former Representative Director and President, Nikko Asset Management, Co., Ltd.
Nobuo Domae <Independent and Outside Director > *For re-appointment- Former Executive Vice President and Member of the Executive Board, FAST RETAILING CO.,LTD.

Retiring Directors
Masakazu Sasaki and Kaoru Hayashi will retire at the close of the 13th annual general meeting ofshareholders.
[Supplementary Information No.1](1) Committee Members(To be designated in June 2017, if all candidates are appointed as directors)
Nominating Committee
Nobuyuki Idei (Chair)
Jun Makihara
Fujiyo Ishiguro
Nobuo Domae
Oki Matsumoto
Audit Committee
Koji Kotaka (Chair)
Billy Wade Wilder
Nobuo Domae
Compensation Committee
Jun Makihara (Chair)
Nobuyuki Idei
Oki Matsumoto(Independent and Outside Director)(Independent and Outside Director)(Independent and Outside Director)(Independent and Outside Director)(Independent and Outside Director)(Independent and Outside Director)(Independent and Outside Director)(Independent and Outside Director)(Independent and Outside Director)2(2) Reasons for Nominating Each Director Candidate for Appointment
Notes:- <Independent and Outside Director> is used to denote candidates for independent and outside
directors.
- Important concurrent positions at other organizations are as of April 1, 2017.
Oki Matsumoto *For re-appointment- Managing Director, Chairman of the Board, Member of the Nominating Committee andMember of the Compensation Committee- Representative Executive Officer, President and Chief Executive Officer[Reasons for nomination as Director]
Since Mr. Matsumoto founded the former Monex, Inc. in 1999, he has been dedicated to creatingand establishing a new financial business model in Japan, i.e., an online brokerage business forretail investors, and has demonstrated strong leadership in expanding the business of Monex
Group, Inc. With his in-depth understanding of the financial services industry, Mr. Matsumoto
has actively supported substantive and productive discussion of the Board. As Chief Executive
Officer of the Company, he deploys his exceptional leadership and management skills to pursue
continuous growth of the group’s business.
[Important concurrent positions at other organizations]- Managing Director and Chairman, Monex, Inc. (the Company’s wholly owned subsidiary)- Director and Chairman, TradeStation Group, Inc. (the Company’s wholly owned subsidiary)- Outside Director, Kakaku.com, Inc.
- Outside Director, MasterCard Incorporated- Outside Director, UZABASE, Inc.
Shoji Kuwashima *For re-appointment- Managing Director and Vice Chairman- Executive Officer and Chief Quality Officer[Reasons for nomination as Director]
Mr. Kuwashima has long experience in the Japanese brokerage business and has in-depth
knowledge in information technology. He proactively participates in Board discussions withwell-balanced perspectives derived from his vast experience in management. Mr. Kuwashima
also serves as an Executive Officer of the Company and is responsible for information securities,
etc. where his knowledge and experience in information technology can be fully utilized.
[Important concurrent positions at other organizations]- Managing Director, Monex, Inc. (the Company’s wholly owned subsidiary)3

Takashi Oyagi *For re-appointment- Managing Director- Executive Officer and Chief Strategic Officer[Reasons for nomination as Director]
Mr. Oyagi is a founding member of Monex, Inc., which was established in April 1999. With hislong experience in financial services in Japan and the U.S., Mr. Oyagi has, while fulfilling his
responsibilities as Director, assumed the role of planning and executing strategies to create newenterprise value for the Company as its Executive Officer. Mr. Oyagi actively participates in
Board discussions, providing his views reflecting the latest trends in the financial industry.
[Important concurrent positions at other organizations]- Director and Chief Strategic Officer, TradeStation Group, Inc. (the Company’s wholly owned
subsidiary)
Koichi Tateno *For new appointment- Executive Officer, Chief Operating Officer and Co-Chief Financial Officer[Reasons for nomination as Director]
Mr. Tateno has dealt with various projects in increasing corporate value and reviving enterprises,
throughout his career in management consulting and private equity investment. The Nominating
Committee expects that, as the Company enters a phase of aggressively strengthening andexpanding its business, Mr. Tateno will contribute to the Board in keeping a balance between
value creation and value preservation based on his rich experience in corporate investment andhands-on value creation.
[Important concurrent positions at other organizations]- Director, TradeStation Group, Inc. (the Company’s wholly owned subsidiary)- Representative Director & President, Japan Growth Investments Alliance Inc.
Toshihiko Katsuya *For new appointment- Executive Officer[Reasons for nomination as Director]
Mr. Katsuya has management experience in both the brokerage and banking businesses. He is
responsible for the Japan segment business of the Company and leads the brokerage business inJapan as the Representative Director & President of Monex, Inc., the Company’s subsidiary.
The Nominating Committee determined that Mr. Katsuya’s in-depth knowledge of brokerageand financial business in both Japan and the U.S., as well as his experience in managing
brokerage business, would contribute to the Board in monitoring the Company’s businessexecution and that he would be capable of taking responsibility as Director of the Company.
[Important concurrent positions at other organizations]- Representative Director & President, Monex, Inc. (the Company’s wholly owned subsidiary)4Jun Makihara <Independent and Outside Director> *For re-appointment- Lead Independent Director, Chair of the Compensation Committee and Member of theNominating Committee[Reasons for nomination as Director]
Mr. Makihara’s years of experience in investment banking and in the incubation of Internet
business start-ups in Japan and the U.S. provides him with strong expertise in and profoundunderstanding of the financial services industry as well as Internet-related businesses. He has
actively participated in Board discussions since he was elected as Director of the Company inJune 2006 and has contributed to the Board from both the growth-oriented and risk-averse
perspectives while also taking transitions in the Company’s business into consideration.
After he was appointed as the Lead Independent Director in April 2015, Mr. Makihara also
ensured that views of the outside directors were fully communicated to management, greatly
enhancing the effectiveness of the Board’s function.
[Important concurrent positions at other organizations]- Outside Director, TradeStation Group, Inc. (the Company’s wholly owned subsidiary)- Outside Director, Shinsei Bank, Limited.
- Outside Director, Philip Morris International Inc.
Nobuyuki Idei <Independent and Outside Director > *For re-appointment- Director, Chair of the Nominating Committee and Member of the Compensation Committee[Reasons for nomination as Director]
Mr. Idei has extensive management experience in global companies and is aggressively engaged
in nurturing next-generation businesses and leaders, drawing on his extensive connections
around the world as well as his in-depth knowledge of online businesses. Since his appointment
as Director of the Company in June 2013, Mr. Idei has contributed to the Board by actively
expressing his perspectives derived from broad knowledge and experience.
[Important concurrent positions at other organizations]- Founder and CEO, Quantum Leaps Corporation- Outside Director, FreeBit Co., Ltd.
- Outside Director, Lenovo Group Limited

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Koji Kotaka <Independent and Outside Director >- Director and Chair of the Audit Committee- Attorney-at-Law*For re-appointment[Reasons for nomination as Director]
Mr. Kotaka has significant legal expertise and is licensed as an attorney-at-law. He also has longexperience in the M&A and finance business as an investment banker and has an ample
knowledge as an expert in finance and accounting. Since he was appointed Director of theCompany in June 2013, he has demonstrated his ability to fulfill his responsibilities toshareholders by providing his perspectives to the Board based on his long experience in thefinancial industry. He further contributes to the enhancement of the Company’s corporate
governance system through his activities on the Audit Committee, where he verifies theeffectiveness of the internal control system of the Company and its group companies.
[Important concurrent positions at other organizations]- Attorney at law, Koji Kotaka Law Office- Outside Director, TradeStation Group, Inc. (the Company’s wholly owned subsidiary)- Supervisory Director, Japan Senior Living Investment Corporation- Outside Director, LINE Corporation
Fujiyo Ishiguro <Independent and Outside Director> *For re-appointment- Director and Member of the Nominating Committee[Reasons for nomination as Director]
Ms. Ishiguro has profound knowledge of digital marketing and long experience in management
as an active CEO of a listed company. Since June 2014, when she was elected as Director of theCompany, Ms. Ishiguro has actively participated in Board discussions, including providing herviews relating to changes in customer demand for various online services.
[Important concurrent positions at other organizations]- President & CEO, Netyear Group, Inc.
- Outside Director, Hottolink, Inc.
- Outside Director, Sompo Japan Nipponkoa Insurance Inc.
Billy Wade Wilder <Independent and Outside Director>- Director and Member of the Audit Committee*For re-appointment[Reasons for nomination as Director]
Mr. Wilder not only has extensive experience in the investment management business, but also
has long experience in managing companies in Japan. Since he was elected as Director of theCompany in June 2014, he has aggressively contributed to the Board with insights derived fromhis expertise in evaluating and observing enterprises, skills that he acquired from his experience
as an institutional investor. Mr. Wilder’s strengths have also assisted him in overseeing theinternal control system of the Company and its group companies as a member of the Audit
Committee.
[Important concurrent positions at other organizations]- Outside Director, GI Capital Management Ltd.

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Nobuo Domae <Independent and Outside Director> *For re-appointment- Director and Member of the Nominating Committee[Reasons for nomination as Director]
Mr. Domae has long and in-depth experience in consumer services, including e-commerce,
digital and marketing services, and also in global business development. Furthermore, he has
extensive experience in establishing globally applicable organizational frameworks and business
management systems. Since he was elected as Director of the Company in June 2016, Mr.
Domae has aggressively participated in Board discussions and provided his insights from wideand various perspectives.
[Important concurrent positions at other organizations]- Outside Director, DeNA Co., Ltd.
(3) Career summary of director candidates for new appointment
Koichi Tateno (Date of birth: February 6, 1974)
Executive Officer, Chief Operating Officer and Co-Chief Financial Officer of the Company
Apr. 1998
Apr. 1999
Feb. 2005
Feb. 2007
Aug. 2008
Jun. 2012
Mar. 2013
Apr. 2016
Jun. 2016
Jun. 2016
Sep. 2016

Joined Merrill Lynch Japan Incorporated
Joined McKinsey & Co, Inc.
Joined Goldman Sachs (Japan) Ltd.
Joined Unison Capital, Inc.
Director, Akindo Sushiro Co., Ltd.
Director, Asahi Tec Corporation
Partner, Unison Capital, Inc.
Executive Officer of the Company (current position)
Director, TradeStation Group, Inc. (current position)
Representative Director & President, Japan Growth Investments Alliance Inc.
(current position)
Senior Executive Director, Monex, Inc. (current position)

Toshihiko Katsuya (Date of birth: December18, 1965)
Executive Officer of the Company
Apr. 1989
Apr. 2006
Apr. 2008
Oct. 2010
Apr. 2013
Jun. 2013
Jun. 2015
Nov. 2015
Apr. 2016

Joined The Mitsubishi Bank, Ltd.
Joined the Company
Executive Director of the Company
Representative Director & President, Monex FX, Inc. (currently Monex, Inc.)
Executive Director of the Company
Managing Director, Monex. Inc.
Managing Director & Deputy President, Monex, Inc.
Representative Director & President, Monex, Inc. (current position)
Executive Officer of the Company (current position)

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[Supplementary Information No.2] Management of the Company
Responsibilities of Executive Officers (As of April 1, 2017)
Name
Oki
Matsumoto
Koichi
TatenoTitle
Representative
Executive
Officer &President
Executive
Officer

SatoshiHasuo
Toshihiko
Katsuya
Kiminori
KanekoTakashiOyagi
John
Bartleman

Executive
Officer
Executive
Officer
Executive
Officer
Executive
Officer
Executive
Officer

Shoji
Kuwashima

Executive
Officer

HisashiTanaamiExecutive
Officer

Yuko
Seimei

Executive
Officer

Masaki
Ueda

Executive
Officer

Responsibilities- Chief Executive Officer- Chief Operating Officer- Co- Chief Financial
Officer- Overall management &Asia-Pacific- Kaizen- Co- Chief Financial
Officer- Japan Segment- Japan Segment- Chief Strategic Officer- US Segment- US Segment- Chief Quality Officer- HR & quality- Corporate communications- Information security- Trade Science Corporation- Chief Administrative
Officer- Internal controls- Planning- Monex Ventures, Inc.
- Monex-Saison-Vanguard
Investment Partners, Inc.
- Special mission- Special mission

Other important positions in the group- Managing Director & Chairman,
Monex, Inc.
- Chairman of the Board of Directors,
TradeStation Group, Inc.
- Senior Executive Director, Monex,
Inc.
- Director, TradeStation Group, Inc.
- Representative Director & President,
Japan Growth Investments AllianceInc.
- Executive Director, Monex, Inc.
- Representative Director & President,
Monex, Inc.
- Representative Director & Deputy
President, Monex, Inc.
- Director & Chief Strategic Officer,
TradeStation Group, Inc.
- Director & President, TradeStation
Group, Inc.
- Director & President, TradeStation
Securities, Inc.
- Managing Director, Monex, Inc.

- Managing Director& Vice Chairman,
Monex, Inc.
- Senior Executive Director, Monex,
Inc.
- Representative Director, Chairperson& President, Monex Hambrecht, Inc.
- Representative Director, Monex
Ventures, Inc.
- Representative Director,
Monex-Saison-Vanguard Investment
Partners, Inc.
- Senior Executive Director, Monex,
Inc.

2. Personnel Change
Effective April 1, 2017Name

New Position

Current Position

Masaki Ueda

Executive Officer

Executive Officer
General Manager,
Finance Department

Harumi Katsumata

General Manager,
Finance Department-

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3. Organizational Change
In order to pursue efficiency in its business operation, the Company will abolish the New Business
Planning Office and merge its function to the Strategic Planning Office effective April 1, 2017.

9II. Monex, Inc.
Monex, Inc. decided to change its management, personnel and organization as described below so as toswiftly respond to demands of customers on its newly launched securities backbone system and to quickly
adapt to rapidly changing business environment.
With the restructured and simplified organizational hierarchy, Monex, Inc. aims to add speed todecision-making and increase profitability.

1. Changes of Representative Directors, Managing Directors and Executive Directors
Effective April 1, 2017Name

New Position

Current Position

Oki Matsumoto

ChairmanManaging Director

Representative Director,
Chairman &Chief Executive Officer

Hisashi Tanaami

Deputy Chairman
Managing Director

Representative Director &Deputy President
Head of Corporate Division

Kiminori Kaneko

Representative Director &Deputy President
Head of Operations Division

Representative Director,
Deputy President & COO
Head of Operations Division

Katsuki Mandai

Managing Director
Senior Executive Director
Head of Products Division

Senior Executive Director
Head of Products Division

Takuya Yamanaka

Managing Director
Senior Executive Director
Head of Sales Division

Senior Executive Director
Head of Sales Division

Junya Matsuoka

Managing Director
Executive Director
General Manager,
Marketing Department, Sales
Division

General Manager,
Sales Planning Office, Sales
Division

Masaki Ueda

Senior Executive Director

Managing Director
Senior Executive Director

Yuko Seimei

Senior Executive Director

Managing Director

Name

New Position

Current Position

Kiyoshi Tamura(Resignation)

Managing Director
Senior Executive Director

Kazuhiro Miyake(Resignation)

Executive Director

Effective March 31, 201710

2. Auditor Changes
Effective April 1, 2017Name

New Position

Current Position

Kiyoshi Tamura

AuditorManaging Director
Senior Executive Director

Name

New Position

Current Position

Harumi Katsumata(Resignation)

AuditorName

New Position

Current Position

Terumitsu Kanai

Senior Executive Director

Atsushi Yasuhara

Executive Director
General Manager,
Operation System Department,
Operations Division

Tadashi Fukushima

General Manager,
Planning Department,

Assistant to Head of Sales
Division

General Manager,
Hachinohe Contact Center,
Sales Division
General Manager,
Products Department, Products
Division
General Manager,
Corporate Administration
Department
General Manager,
Accounting & Finance
Department

Manager,
Client Service Department,
Sales Division
General Manager,
Investment Services
Department, Products Division
General Manager,
Compliance Department,
Corporate Division
General Manager,
Finance Department, Corporate
Division

Effective March 31, 2017

3. Personnel Changes
Effective April 1, 2017

Shinnosuke Matsushita

Rikiji Maki

Eriko Mizuno

Kazunari Ohuchi

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Senior Executive Director
General Manager,
Planning Department
Executive Director
General Manager,
Second System Development
Department, Operations
Division4. Organizational Changes
Monex, Inc. will make the following organizational changes effective April 1, 2017.
- Reorganize its organizational structure from “4 Divisions & 27 Departments system” to “3 Divisions
and 17 Departments system”.
- First System Developments Department, Second System Developments Department, System
Operation & Management Department and Operations Department will be unified to a newly
established “Operation System Department”.
- Sales Planning Office, TradeStation Promotion Office, UX Design Department and Monex Labs will
be unified to a newly established “Marketing Department”.
- Client Service Department will be renamed to “Hachinohe Contact Center”, and Tokyo Client
Service Department will be also renamed to “Nihonbashi Contact Center”.
- Investment Services Department, Trader Services Department and Financial Intelligence Department
will be unified to a newly established “Products Department”.
- Corporate Division will be abolished.
- Corporate Services Department and Compliance Department will be unified to a newly established“Corporate Administration Department”.
- Finance Department and Accounting Department will be unified to a newly established “Accounting
Finance Department”.

12III. Monex-Saison-Vanguard Investment Partnership, Inc.
1. Representative Director Changes
Effective April 1, 2017Name

New Position

Current Position

Yuko Seimei

Representative Director

-

Name

New Position

Current Position

Satoshi Hasuo(Resignation)

Representative Director

Name

New Position

Current Position

Kazuhiro Miyake

Auditor-Name

New Position

Current Position

Hisashi Tanaami(Resignation)

AuditorEffective March 31, 2017

2. Auditor Changes
Effective April 1, 2017

Effective March 31, 2017

Effective at the close of the annual meeting of shareholders in June 2017Name

New Position

Current Position

Nobuaki Okamoto(Resignation)

AuditorContact: Yumi Matsuzaki
Public Relations, CEO OfficeMonex Group, Inc.
+81-3-4323-8698
Yuko Machida
Investor Relations, Financial Control Department
Monex Group, Inc.
+81-3-4323-8698
This material is an English translation of a Japanese announcement made on the date above. Although the Company intended
to faithfully translate the Japanese document into English, the accuracy and correctness of this English translation is notguaranteed and thus you are encouraged to refer to the original Japanese document. This translation was made as a matter ofrecord only and does not constitute an offer to sell or to solicit an offer to buy securities in the U.S.

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