December 18, 2009
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Announcement of Transfer of Representative Director
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Noritsu Koki Co. , Ltd. (headquarters in Wakayama City, Wakayama Prefecture, hereinafter referred to as Noritsu) announces that the board of directors passed a resolution on December 18, 2009, approving the following transfer of a representative director.
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| 1. |
Reason for personnel transfer |
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In view of the stagnant situation in the photo-related business, the core of our company, Noritsu has addressed a variety of measures to correct the cost structure, including reductions in the cost associated with production, losses, and operations by enhancing business efficiency. However, Noritsu management is still concerned that the ongoing sluggish business performance may be prolonged due to the business environment, which may continue to be unpredictable and difficult.
Under such circumstances, Noritsu needs to implement earlier and drastic reconstruction of the photo related business, as well as full-fledged development of new businesses. In order to overcome the current difficult situation, it is essential for Hirotsugu Nishimoto, who is a member of the founding family and a director of New Business Management of Noritsu, to work cooperatively with Yukihiko Chayama, the president in-service to enhance the management of the company. Based on the above decision, Noritsu announces the transfer of the director to a new position.
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| 2. |
Name and position of the new representative director
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| New Position |
Name |
Current position |
Representative Director,
Executive Managing Director |
Hirotsugu Nishimoto
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Director, Member of the Board
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| 3. |
Career summary of the new representative director, senior managing director |
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| Date of Birth |
Career Summary |
Number of shares
in the company |
| October 20, 1970 |
April 1993
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Joins Noritsu Koki |
200 shares |
| December 2006 |
Leaves Noritsu Koki |
| January 2007 |
Becomes a director of Nishimoto Kosan K.K. |
| April 2007 |
Founds Mix Lighting Corp. as representative director, president (present post) |
| April 2008 |
Appointed executive director of Nishimoto Kosan K.K. |
| April 2009 |
Appointed president of NK Relations Inc. (present post) |
| June 2009 |
Appointed director of Noritsu Koki (present post) |
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| 4. |
Date of Assumption: December 18, 2009 |
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