We hereby announce that at the Extraordinary General Shareholders' Meeting and the Board Meeting held today, our company resolved the transition from a company with Audit and Supervisory Board to a company with Audit and Supervisory Committee and elected as well as appointed the following officers.

Our company intends to expedite decision-making by the management and improve corporate value over the medium to long term with the aim of strengthening corporate governance by the enhancement of supervisory function of the Board of Directors and hence intensifying the framework for the oversight function of the management by changing the status of members of the Audit and Supervisory Board, which oversees the performance of the directors, to Directors Serving as Audit & Supervisory Committee Member, who have the right to vote at the Board Meeting.

We, the board of directors, would like to take this opportunity to express our gratitude and appreciation of your presence alongside us and sincerely ask for your ongoing support in the future as we striving for further excellence.

Tomohiro Okada
Representative Director & President
Universal Entertainment Corporation