The board of directors of Frontier Management Inc. meeting held on February 14, 2024, approved to change the Representative Director as follows. The company announced retirement of Masahiro Matsuoka as Representative Director, Co-President of the company. With the retirement of Mr. Masahiro Matsuoka, Representative Director Shoichiro Onishi will become President.

Mr. Masahiro Matsuoka is scheduled to retire from a Director of the Company at the conclusion of the 17th Ordinary General Meeting of Shareholders on March 27, 2024.