MTI : Notice of Personnel Changes Regarding Officer

November 9, 2022

For Immediate Release:

MTI Ltd.

Representative: Toshihiro Maeta,

President and Chief Executive Officer

Listing: TSE Prime [9438]

Contact: Hiroshi Matsumoto,

Senior managing Director

Notice of Personnel Changes Regarding Officers

MTI Ltd. (hereinafter the "Company") announces that at the meeting of the Board of Directors held on November 9, 2022, it was informally decided to implement personnel changes regarding its officers as of December 24, 2022, as follows.

The election of the candidates for new Directors will be formally approved by resolution at the 27th Ordinary General Meeting of Shareholders to be held on December 24, 2022.

1. Candidates for new Directors (December 24, 2022)

	New title			Name		Former title
	Outside Director		Hideaki Wada		-
2． Executive Officer system from December 24, 2022 and onward
President and chief	Toshihiro Maeta	Director (*1)	Satoshi Fujita
Executive officer
Executive vice	Hiroshi Izumi	Director (*1)	Yoshinori Yokoyama
President
Executive vice	Minoru Takei	Director (*1)	Hideaki Wada
President
Senior managing	Hiroshi Matsumoto	Statutory Auditor (*2)	Yasuhiko Niwa
Director
Director (*1)	Muzhi Zhou	Auditor (*2)	Chie Kasahara
Director (*1)	Hikaru Yamamoto	Auditor (*2)	Nariki Yasuda
Director (*1)	Ryosuke Tsuchiya	Auditor (*2)	Takako Okuda
*1 Outside Director

*2 Outside Statutory Auditor

Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

Contact information for inquiries

Investor Relations Office

E-mail:[e-mail]

URL：https://ir.mti.co.jp/eng/