TOKYO — Toyo Ink SC Holdings Co. Ltd., the parent company of the Toyo Ink Group of Japan, announced that its Board of Directors has appointed a new President and executive management team. The appointments are subject to the approval of the Company’s 182^nd Ordinary General Meeting of Shareholders to be held on March 26, 2020, and the Board of Directors Meeting to be held the same day.

The board has appointed Satoru Takashima, the existing Senior Managing Director, to serve as the new President and in the new position of COO (Chief Operating Officer). He will replace Katsumi Kitagawa, the current President and Group CEO.

Kitagawa was named the new Chairman of the Board, replacing Kunio Sakuma who has chaired the board since April 2011. Kitagawa will serve concurrently as Chairman and Group CEO, but will be relinquishing the role of President to Takashima.

Takashima, who entered Toyo Ink SC Holdings in 1984, has assumed a variety of leadership positions in Japan and overseas. Under his leadership as President of the company’s core subsidiary Toyochem from 2014, he demonstrated his ability for cultivating new businesses such as the launch of the new healthcare business. He also has deep insights into compliance with law and corporate ethics to appropriately execute business operations of the entire group and to further drive up its corporate value.

Kitagawa, in his new role as the Chairman and Group CEO, will continue to support the formulation and promotion of growth strategies for the entire group, helping Takashima in this time of transition.