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Status of Outside Directors and Outside Audit & Supervisory Board Members

The following specifies our Outside Directors and Outside Audit & Supervisory Board Members.

Status of Outside Directors and Outside Audit & Supervisory Board Members

The Company had four (4) Outside Directors and two (2) Outside Audit & Supervisory Board Members.

Outside Directors shall be individuals who have experience in global corporate management, professional insight in management, and knowledge of the industry among others.

Outside Audit & Supervisory Board Members shall be individuals who have adequate insight in areas such as accounting, legal affairs and management administration.

To evaluate the independence and objectivity of Outside Directors and Outside Audit & Supervisory Board Members, the Company has formulated “Standards for Selecting Independent Outside Officers,” based on the standards established by the Tokyo Stock Exchange, Inc. for judging the independence of officers.

Summary of "Standards for Selecting Independent Outside Officers"
Independent Outside Officers may not be:

1. Employees or former employees of the company
2. Major shareholders
3. Individuals in a “major customer” relationship with our corporate group
4. Individuals from companies that have accepted a director from Yamaha Motor Group
5. Individuals with some other type of vested interest in the Group
6. Individuals who might have a conflict of interest with our general shareholders
7. In office more than 8 years

Moreover, individuals who are second-degree relatives, or cohabiting relatives, of any of those mentioned above in 1 through 5 may not be officers.

As mentioned, the above is a summary of the “Standards for Selecting Independent Outside Officers.”
For the full text, please refer to the following page.

Appointment of Outside Directors and Outside Audit & Supervisory Board Members
Positions Names Reasons for appointment Attendance at Board of Directors Meetings for the 82nd fiscal year
Outside Directors Tamotsu
Adachi
Tamotsu Adachi provides management with advice and supervision as an Outside Director, based on his ample experience in international business and in the formulation of management strategy, investment activities and wide range of insights. Mr. Adachi meets the requirements for independence stipulated by the Tokyo Stock Exchange and the “Standards for Selecting Independent Outside Officers” and the Tokyo Stock Exchange has been duly notified of his designation as an Outside Officer. 13 out of 13
meetings
(100.0%)
Takuya
Nakata
As President and Representative Director of Yamaha Corporation, a major shareholder of the Company, Takuya Nakata provides management with advice and supervision as a corporate executive, and has been elected as an Outside Director to enhance the value of the Yamaha brand name that is used by both companies. Similarly, the Company’s President and Representative Director, Hiroyuki Yanagi, concurrently serves as an Outside Director of Yamaha Corporation. 13 out of 13
meetings
(100.0%)
Atsushi
Niimi
Atsushi Niimi provides management with advice and supervision as an Outside Director, based on his extensive experience and wide-ranging knowledge as a corporate executive at several global organizations. Mr. Niimi meets the requirements for independence stipulated by the Tokyo Stock Exchange and the “Standards for Selecting Independent Outside Officers,” and the Tokyo Stock Exchange has been duly notified of his designation as an Outside Officer. 12 out of 13
meetings
(92.3%)
Genichi Tamatsuka Having served as representative director at several major companies, Genichi Tamatsuka provides management with advice and supervision as an Outside Director, based on his extensive experience in corporate management and wide range of insights. Mr. Tamatsuka meets the requirements for independence stipulated by the Tokyo Stock Exchange and the “Standards for Selecting Independent Outside Officers,” and the Tokyo Stock Exchange has been duly notified of his designation as an Outside Officer.
Outside Audit & Supervisory Board Members Tomomi
Yatsu
Tomomi Yatsu uses her significant expertise as a certified public accountant and attorney as well as her knowledge and experience as an outside officer for a corporation in performing her duty as one of the Company’s Audit & Supervisory Board Members (Outside). Ms. Yatsu meets the requirements for independence stipulated by the Tokyo Stock Exchange and the “Standards for Selecting Independent Outside Officers,” and the Tokyo Stock Exchange has been duly notified of her designation as an Outside Officer. 13 out of 13
meetings
(100.0%)
Masahiko
Ikaga
Masahiko Ikaga uses his significant expertise as a certified public accountant, as well as his extensive experience and wide-ranging knowledge as a corporate executive, in performing his duties as one of the Company’s Audit & Supervisory Board Members (Outside). Mr. Ikaga meets the requirements for independence stipulated by the Tokyo Stock Exchange and the “Standards for Selecting Independent Outside Officers,” and the Tokyo Stock Exchange has been duly notified of his designation as an Outside Officer.
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