Japan Exchange : Appointment of Representative Executive Officers and Candidates for Directors and Executive Officers, etc.

[Translation]

February 21, 2020

Company Name: Japan Exchange Group, Inc.

Name of Representative: Kiyota Akira, Director & Representative Executive Officer, Group CEO

(Code No.: 8697, TSE 1st Section)

Inquiries: Corporate Communications

(TEL: [phone])

Appointment of Representative Executive Officers

and Candidates for Directors and Executive Officers, etc.

We hereby announce that Japan Exchange Group, Inc. (JPX) decided on appointments of Representative Executive Officers at the Board of Directors meeting held on February 21, 2020. In addition, JPX decided on candidates for Directors and Executive Officers etc. effective from April 1, 2020. Details are as follows:

1. Representative Executive Officers of JPX （1） Reason for appointment

Additional appointment of Representative Executive Officers resulting from a change in the management structure

（2） Newly Appointed Representative Executive Officers

Name	New Position	Current Position
Miyahara Koichiro	JPX Representative Executive Officer,	JPX Executive Officer
	Group Co-COO
	To serve concurrently as:	To serve concurrently as:
	JPX Director	JPX Director
	President & CEO, Tokyo Stock	President & CEO, Tokyo Stock
	Exchange, Inc.	Exchange, Inc.
Yamaji Hiromi	JPX Representative Executive Officer,	JPX Executive Officer
	Group Co-COO
	To serve concurrently as:	To serve concurrently as:
	JPX Director	JPX Director
	President & CEO, Osaka Exchange, Inc.	President & CEO, Osaka Exchange, Inc.
	Representative Director & Chair,	Representative Director & Chair,
	Chairperson of the Board, Tokyo	Chairperson of the Board, Tokyo
	Commodity Exchange, Inc.	Commodity Exchange, Inc.

（3） Effective Date

The appointments will be subject to a partial revision to the Articles of Incorporation regarding the number of COOs, expected to receive approval at the JPX annual general shareholders meeting scheduled for June 2020.

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（4） Curricula Vitae of the Newly Appointed Representative Executive Officers

Name	: Miyahara Koichiro
Date of Birth	: Mar. 10,1957
Brief Biography and Position:
Apr. 1979	Joined Electric Power Development Co., Ltd.
Apr. 1988	Joined Tokyo Stock Exchange
Jun. 2002	Director, General Administration Department, Tokyo Stock Exchange, Inc.
Jun. 2004	Director, Information Services Department, Tokyo Stock Exchange, Inc.
Jun. 2005	President, Representative Director, ICJ, Inc.
Dec. 2005	Executive Officer, Tokyo Stock Exchange, Inc.
Oct. 2007	Standing Governor, Tokyo Stock Exchange Regulation (now Japan Exchange Regulation)
Jun. 2009	Senior Executive Officer, Tokyo Stock Exchange Group, Inc.
Jan. 2013	Senior Executive Officer, Japan Exchange Group, Inc.
	Senior Executive Officer, Tokyo Stock Exchange, Inc.
Jun. 2014	Executive Vice President, Japan Exchange Group, Inc.
Jun. 2015	Director, Japan Exchange Group, Inc. (current position)
	President & CEO, Tokyo Stock Exchange, Inc. (current position)
Nov. 2015 Executive Officer, Japan Exchange Group, Inc. (current position)
No. of JPX shares held	35,177 shares (as of the end of Sep. 2019)
Name	: Yamaji Hiromi
Date of Birth	: Mar. 8, 1955
Brief Biography and Position:
Apr. 1977	Joined Nomura Securities Co., Ltd. (now Nomura Holdings, Inc.)
Jun. 1997	General Manager, Personnel Department, Nomura Securities Co., Ltd.
Jun. 1998	Member of the Board in charge of Investment Banking Products Division, Nomura Securities
	Co., Ltd.
Jun. 2000	Managing Director, Head of Global Investment Banking Division, Nomura Securities Co., Ltd.
Apr. 2002	President & CEO, Nomura Europe Holdings plc (London) and Chairman, Nomura Holding
	America Inc. (New York)
Apr. 2007	Executive Vice President, Global Investment Banking, in charge of Corporate Finance
	Division, Nomura Securities Co., Ltd.
Jun. 2013	Director, Japan Exchange Group, Inc. (current position)
	President & CEO, Osaka Securities Exchange Co., Ltd. (now Osaka Exchange, Inc.) (current
	position)
Nov. 2015	Executive Officer, Japan Exchange Group, Inc. (current position)
Oct. 2019	Representative Executive Officer, Tokyo Commodity Exchange, Inc.
Dec.2019	Representative Director & Chair, Chairperson of the Board, Tokyo Commodity Exchange, Inc.
	(current position)
No. of JPX shares held	24,217 shares (as of the end of Sep. 2019)
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• The number of JPX shares held includes the number of shares scheduled to be granted in accordance with the stock compensation plan (the "fixed portion" only).

2. Candidates for Directors and Executive Officers, etc.

（1） Japan Exchange Group, Inc.(JPX)

• Director

New Candidate for Director (effective subject to approval at the JPX annual general shareholders

	meeting scheduled for June 2020)
Director	Shizuka Masaki
Retiring Director (effective on March 31, 2020)
Director	Miyama Hironaga

• Executive Officer
  New Candidates for Executive Officers Effective on April 1, 2020

Executive Officer	Shizuka Masaki (To serve concurrently as President & CEO of
	JSCC)
Effective on the date of the JPX annual general shareholders meeting scheduled for June 2020
Executive Officer	Ishizaki Takashi (To serve concurrently as Representative
	Director & President of TOCOM)
Retiring Executive Officers
Effective on March 31, 2020
Executive Officer	Miyama Hironaga
Effective on the date of the JPX annual general shareholders meeting scheduled for June 2020
Executive Officer	Hamada Takamichi
Executive Officer with New Position (effective on April 1, 2020)
Senior Executive Officer	Futagi Satoshi (Promoted from Executive Officer)

（2） Tokyo Stock Exchange, Inc. (TSE)

• Executive Officer

Executive Officer with New Position (effective on April 1, 2020)

Executive Vice President

Konuma Yasuyuki (Promoted from Senior Executive Officer)

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Hamada Takamichi

（3） Tokyo Commodity Exchange, Inc. (TOCOM)

• Director

New Candidate for Director (effective on the date of the TOCOM annual general shareholders

meeting scheduled for June 2020)

Representative Director & President Ishizaki Takashi (To serve concurrently as Executive Officer of JPX)

Retiring Director (effective on the date of the TOCOM annual general shareholders meeting scheduled for June 2020)

Representative Director & President

• Executive Officer

New Candidate for Executive Officer (effective on July 27, 2020)

Executive OfficerHinoide Mikio (To serve concurrently as Executive Officer of TSE, OSE and JSCC)

（4） Japan Exchange Regulation (JPX-R)

• Governor
  New Candidate for Standing Governor (effective on April 1, 2020)

Standing Governor

Kagiwada Hiroshi

Retiring Standing Governor (effective on March 31, 2020)

Managing GovernorSuzuki Yasushi (To assume the position of Senior Executive Officer of JSCC)

（5） Japan Securities Clearing Corporation (JSCC)

• Director

New Candidate for Director (effective on April 1, 2020)

Director	Suzuki Yasushi
Retiring Director (effective on March 31, 2020)
President & CEO	Miyama Hironaga

• Executive Officer
  New Candidate for Executive Officer (effective on April 1, 2020)

Senior Executive Officer	Suzuki Yasushi
Executive Officers with New Positions (effective on April 1, 2020)
President & CEO	Shizuka Masaki (Promoted from Senior Executive Vice
	President)
Senior Executive Vice President	Iwanaga Moriyuki (Promoted from Executive Vice
	President)

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Hamada Takamichi

• Auditor

New Candidate for Statutory Auditor (effective on April 1, 2020)

Standing Statutory Auditor	Suzuki Yoshihiko
Retiring Statutory Auditor (effective on March 31, 2020)
Standing Statutory Auditor	Kagiwada Hiroshi (To assume the position of Standing Governor
	of JPX-R)

（6） Japan Commodity Clearing House Co., Ltd. (JCCH)

• Director

New Candidate for Director (effective on the date of the JCCH annual general shareholders meeting scheduled for June 2020)

CEO & ChairpersonShizuka Masaki (To serve concurrently as Director & Executive Officer of JPX and President & CEO of JSCC)

Retiring Director (effective on the date of the JCCH annual general shareholders meeting scheduled for June 2020)

CEO & Chairperson

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Japan Exchange Group, Inc., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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Reference 1

Curricula Vitae of New Candidates

Name	：Futagi Satoshi
Date of Birth	：May 11, 1964

Brief Biography and Position：

Apr. 1988	Joined Tokyo Stock Exchange
Jun. 2011	Director, Corporate Strategy Department, Tokyo Stock Exchange Group, Inc.
Jan. 2013	Director, Corporate Strategy Department, Japan Exchange Group, Inc.
Jun. 2014	Director, Equities Department, Tokyo Stock Exchange, Inc.
Jun. 2015	Executive Officer, Japan Exchange Group, Inc. (current position)
Jun. 2017	Director (part-time), Japan Securities Clearing Corporation (current position)
	Director (part-time), Japan Securities Depository Center, Incorporated (current position)
Name	: Ishizaki Takashi
Date of Birth	: May 14, 1967

Brief Biography and Position:

Apr. 1990 Joined Ministry of International Trade and Industry (MITI, now Ministry of Economy, Trade and Industry)

Apr. 1998 Second Secretary, Embassy of Japan in Myanmar

Apr. 2000 First Secretary, Embassy of Japan in Myanmar

Jun. 2001 Deputy Director of Distribution Industry Division, Commerce and Information Policy Bureau, Ministry of Economy, Trade and Industry (METI)

Jun. 2003 Deputy Director of Technical Cooperation Division, Trade and Economic Cooperation Bureau,

METI

Apr. 2005 Executive Director of Commerce, Industry and Labor Department, Nagasaki Prefectureal Government

Apr. 2006 Director-General, Department. of Industrial and Labor Affairs, Nagasaki Prefectureal Government

Apr. 2008 Director of Energy and Environmental Policy Office, Director-General's Secretariat, Agency for Natural Resources and Energy

Jul. 2010 Director of Energy Supply and Demand Policy Office, Director-General's Secretariat, Agency for Natural Resources and Energy

Jul. 2011 Director of Commerce and Consumer Affairs Policy Division, Commerce and Consumption

Economic Policy Department, Commerce and Information Policy Bureau, METI

Jul. 2014 Director of Electricity Infrastructure Division, Electricity and Gas Industry Department, Agency for Natural Resources and Energy

Jul. 2015 Director of Policy Planning Division, Business Environment Department, Small and Medium Enterprise Agency

Jul. 2016 Director, Office for the Promotion of Regulatory Reform, Cabinet Office

Jul. 2019 Senior Researcher, The Research Institute of Economy, Trade and Industry. (current position)

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Name	：Shizuka Masaki
Date of Birth	：Jul. 13, 1959
Brief Biography and Position：
Apr. 1982	Joined Tokyo Stock Exchange
Jun. 2004	Director, Treasury Department, Tokyo Stock Exchange, Inc.
Jun. 2005	Director, Corporate Strategy Department, Tokyo Stock Exchange, Inc.
Jun. 2007	Executive Officer, Tokyo Stock Exchange, Inc.
Aug. 2007	Executive Officer, Tokyo Stock Exchange Group, Inc.
Jun. 2008	Executive Officer, Tokyo Stock Exchange, Inc.
Jun. 2011	Senior Executive Officer, Tokyo Stock Exchange, Inc.
Jun. 2013	Managing Director, Tokyo Stock Exchange, Inc.
Jun. 2014	Director & Senior Executive Officer, Tokyo Stock Exchange, Inc.
Apr. 2016	Director & Executive Vice President, Tokyo Stock Exchange, Inc.
Apr. 2017	Senior Executive Vice President, Japan Securities Clearing Corporation (current position)
Jun. 2017	Director, Japan Securities Clearing Corporation (current position)
Name	：Konuma Yasuyuki
Date of Birth	：Jul. 30, 1961
Brief Biography and Position：
Apr. 1984	Joined Tokyo Stock Exchange
Jun. 2007	Director, International Business Development Department, Tokyo Stock Exchange, Inc.
Nov. 2007	Director, Business Development & Listing Department, Tokyo Stock Exchange, Inc.
Apr. 2011	Executive Officer & Director of New Listings, Tokyo Stock Exchange, Inc.
Jun. 2013	Executive Officer, Tokyo Stock Exchange, Inc.
Apr. 2016	Senior Executive Officer, Tokyo Stock Exchange, Inc. (current position)
Apr. 2017	Director, Tokyo Stock Exchange, Inc. (current position)

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Name	：Hinoide Mikio
Date of Birth	：Oct. 2, 1969
Brief Biography and Position：
Apr. 1992	Joined Osaka Securities Exchange
Mar. 2002	General Manager, Corporate Strategy Department, Osaka Securities Exchange Co., Ltd.
May 2011	General Manager, Clearing and Settlement Operations Department, Osaka Securities
	Exchange Co., Ltd.
Jun. 2012	Executive Officer, Osaka Securities Exchange Co., Ltd.
Jul. 2013	Director, Risk Management Office, Japan Securities Clearing Corporation
Apr. 2018	Executive Officer, Osaka Exchange, Inc. (current position)
	Executive Officer, Tokyo Stock Exchange, Inc. (current position)
	Executive Officer, Japan Securities Clearing Corporation (current position)
Name	：Kagiwada Hiroshi
Date of Birth	：May 12, 1965
Brief Biography and Position：
Apr. 1989	Joined Tokyo Stock Exchange
Jun. 2012	Director, General Administration Department, Tokyo Stock Exchange Group, Inc.
Jan. 2013	Director, General Administration Department, Japan Exchange Group, Inc.
Jun. 2015	Director, Human Resources Planning Department, Japan Exchange Group, Inc.
Apr. 2016	Director, Human Resources Department, Japan Exchange Group, Inc.
Jun. 2017	Standing Statutory Auditor, Japan Securities Clearing Corporation (current position)

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Name	：Iwanaga Moriyuki
Date of Birth	：Nov. 8, 1961
Brief Biography and Position：
Apr. 1984	Joined Tokyo Stock Exchange
Jun. 2007	Director, Corporate Strategy Department, Tokyo Stock Exchange, Inc.
Aug. 2007	Director, Corporate Strategy Department, Tokyo Stock Exchange Group, Inc.
Jun. 2008	Executive Officer & Director, Corporate Strategy Department, Tokyo Stock Exchange Group,
	Inc.
Jun. 2009	Executive Officer & Director, Corporate Marketing Management Department, Tokyo Stock
	Exchange, Inc.
	Director, Japan Securities Clearing Corporation
Jun. 2012	Executive Officer, Tokyo Stock Exchange Group, Inc.
Jan. 2013	Executive Officer, Japan Exchange Group, Inc.
Jun. 2013	Senior Executive Officer, Japan Exchange Group, Inc.
	Senior Executive Officer, Tokyo Stock Exchange, Inc.
Apr. 2017	Director & Senior Executive Officer, Tokyo Stock Exchange, Inc.
Apr. 2018	Director & Executive Vice President, Tokyo Stock Exchange, Inc.
Apr. 2019	Executive Vice President, Japan Securities Clearing Corporation (current position)
Jun. 2019	Director, Japan Securities Clearing Corporation (current position)
Name	：Suzuki Yasushi
Date of Birth	：Sep. 20, 1962
Brief Biography and Position：
Apr. 1985	Joined Tokyo Stock Exchange
Jun. 2008	Director, Listing Examination Department, Tokyo Stock Exchange Regulation (now Japan
	Exchange Regulation)
Oct. 2010	Director, Corporate Strategy Department, Tokyo Stock Exchange Group, Inc.
Jun. 2011	Director, Japan Securities Clearing Corporation
Jun. 2015	Standing Governor, Japan Exchange Regulation
Apr. 2017	Managing Governor, Japan Exchange Regulation (current position)
Name	：Suzuki Yoshihiko
Date of Birth	：Jan. 13, 1966
Brief Biography and Position：
Apr. 1988	Joined Tokyo Stock Exchange
Jun. 2011	Director, Information Services Department, Tokyo Stock Exchange, Inc.
Jun. 2013	Director, Market Surveillance and Compliance Department, Japan Exchange Regulation
Jun. 2015	Director, Administration Department, TOSHO SYSTEM SERVICE CO., LTD.
Apr. 2017	Director, IT Planning Department, Japan Exchange Group, Inc. (current position)

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Reference 2

Revised Areas of Responsibility of Executive Officers and Standing Governors

1. Japan Exchange Group, Inc. (JPX) Effective on April 1, 2020

	Name		Area(s) of Responsibility
Representative Executive	Kiyota Akira
Officer, Group CEO
Senior Executive Officer	Yokoyama Ryusuke	IT Planning
& CIO
Senior Executive Officer	Isaka Yoshihiro	Global Strategy
Senior Executive Officer	Hasegawa Isao	General Administration and Human Resources
Senior Executive Officer	Futagi Satoshi	Corporate Strategy
Executive Officer	Miyahara Koichiro	Management of Tokyo Stock Exchange, Inc.
Executive Officer	Yamaji Hiromi	Management of Osaka Exchange, Inc.
Executive Officer	Hamada Takamichi	Management of Tokyo Commodity Exchange,
		Inc.
Executive Officer	Shizuka Masaki	Management of Japan Securities Clearing
		Corporation
Executive Officer & CFO	Tabata Atsushi	Treasury,	Corporate	Communications	and
		Investor Relations
Effective on the date of the JPX annual general shareholders meeting scheduled for June 2020
	Name		Area(s) of Responsibility
Representative Executive	Kiyota Akira
Officer, Group CEO
Representative Executive	Miyahara Koichiro	Management of Cash Equities Markets
Officer, Group Co-COO
Representative Executive	Yamaji Hiromi	Management of Derivatives Markets
Officer, Group Co-COO
Senior Executive Officer	Yokoyama Ryusuke	IT Planning
& CIO
Senior Executive Officer	Isaka Yoshihiro	Global Strategy
Senior Executive Officer	Hasegawa Isao	General Administration and Human Resources
Senior Executive Officer	Futagi Satoshi	Corporate Strategy
Executive Officer	Ishizaki Takashi	Management of Tokyo Commodity Exchange,
		Inc.
Executive Officer	Shizuka Masaki	Management of Japan Securities Clearing
		Corporation
Executive Officer & CFO	Tabata Atsushi	Treasury,	Corporate	Communications	and
		Investor Relations

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2. Tokyo Stock Exchange, Inc. (effective on April 1, 2020)

	Name	Area(s) of Responsibility
President & CEO	Miyahara Koichiro
Executive Vice President	Konuma Yasuyuki	Listing, New Listings, Equities (Client
		Relationship Management), Equities Business
		Development and Financial Literacy Support
Senior Executive Officer	Yokoyama Ryusuke	IT Administration, IT Development (Equities
		Trading, Information and Clearing) and IT
		Services
Senior Executive Officer	Isaka Yoshihiro	Information Services
Senior Executive Officer	Hasegawa Isao	General Administration
Executive Officer	Kamiki Tatsuya	IT Services and Tokyo Site Contingency
Executive Officer	Ao Katsumi	Listing
Executive Officer	Kawai Hiroki	Equities, Equities Business Development and
		Financial Literacy Support
Executive Officer	Takura Satoshi	IT Development (Information)
Executive Officer	Hinoide Mikio	Tokyo Site Contingency

3. Osaka Exchange, Inc. (effective on April 1, 2020)

	Name		Area(s) of Responsibility
President & CEO	Yamaji Hiromi
Senior Executive Officer	Yokoyama Ryusuke	IT Administration, IT Development (Derivatives)
		and IT Services
Senior Executive Officer	Isaka Yoshihiro	Information Services
Senior Executive Officer	Ichimoto Hiroyasu	Market	Planning,	Derivatives	Business
		Development, Financial Literacy Support ,
		Comprehensive Exchange Development and
		Osaka Site Contingency
Senior Executive Officer	Hasegawa Isao	General Administration
Executive Officer	Kamiki Tatsuya	IT Services
Executive Officer	Tagaya Akira	Market	Planning,	Derivatives	Business
		Development Financial Literacy Support and
		Comprehensive Exchange Development
Executive Officer	Takura Satoshi	IT Development (Derivatives)
Executive Officer	Hinoide Mikio	Market Operations

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4. Tokyo Commodity Exchange, Inc. (TOCOM) Effective on April 1, 2020

	Name	Area(s) of Responsibility
Representative Director &	Yamaji Hiromi
Chair, Chairperson of the
Board
Representative Director,	Hamada Takamichi
President
Senior Executive Officer	Ichimoto Hiroyasu	Comprehensive Exchange Development, General
		Administration and Business Operations
Executive Officer	Onosato Mitsuhiro	Business Operations and Self-Regulation

(Note) TOCOM's Marketing Department Divisions 1 & 2, Global Business Development Department, Market Department, Research Institute of Market Structure, New Market Development Department, and Market Surveillance and Operation Office will be consolidated to form the Business Operations department, effective on April 1, 2020.

Effective on the date of the TOCOM annual general shareholders meeting scheduled for June 2020

	Name	Area(s) of Responsibility
Representative Director &	Yamaji Hiromi
Chair, Chairperson of the
Board
Representative Director &	Ishizaki Takashi
President
Senior Executive Officer	Ichimoto Hiroyasu	Comprehensive Exchange Development, General
		Administration and Business Operations
Executive Officer	Onosato Mitsuhiro	Business Operations and Self-Regulation
Effective on July 27, 2020
	Name	Area(s) of Responsibility
Representative Director &	Yamaji Hiromi
Chair, Chairperson of the
Board
Representative Director,	Ishizaki Takashi
President
Senior Executive Officer	Ichimoto Hiroyasu	Comprehensive Exchange Development, General
		Administration and Business Operations
Executive Officer	Onosato Mitsuhiro	Business Operations (excluding Market
		Operations) and Self-Regulation
Executive Officer	Hinoide Mikio	Business Operations (Market Operations)

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5. Japan Exchange Regulation (effective on April 1, 2020)

	Name	Area(s) of Responsibility
President	Hosomizo Kiyoshi
Managing Governor	Fukuda Kazuo	Trading Participants Examination and Inspection,
		and Market Surveillance and Compliance
Standing Governor	Hirano Takeshi	Listed Company Compliance and General
		Administration
Standing Governor	Kagiwada Hiroshi	Listing Examination

6. Japan Securities Clearing Corporation (effective on April 1, 2020)

	Name	Area(s) of Responsibility
President & CEO	Shizuka Masaki
Senior Executive Vice	Iwanaga Moriyuki	JGB Clearing Services and Comprehensive
President		Exchange Development
Senior Executive Officer	Suzuki Yasushi	Listed Products Clearing Services and General
		Administration
Executive Officer	Hosomura Takehiro	Clearing Planning and OTC Derivatives Clearing
		Services
Executive Officer	Hinoide Mikio	Tokyo Site Contingency

7. Japan Commodity Clearing House Co., Ltd. (JCCH) Effective on April 1, 2020

	Name	Area(s) of Responsibility
CEO, Chairperson	Hamada Takamichi
Director	Hosomura Takehiro	Comprehensive Exchange Development
Director	Yasuda Takeshi	General Affairs, Clearing and Risk Management
Effective on the date of the JCCH annual general shareholders meeting scheduled for June 2020
	Name	Area(s) of Responsibility
CEO, Chairperson	Shizuka Masaki
Director	Hosomura Takehiro	Comprehensive Exchange Development
Director	Yasuda Takeshi	General Affairs, Clearing and Risk Management

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