The board of directors of Isetan (Singapore) Limited announced that Mr. Toshifumi Hashizume has been identified to assume the position of Managing Director of the company. Mr. Lim Tien Chun will relinquish his position as Managing Director and will also retire as an executive director of the company at the ensuing Annual General Meeting of the company, and that Mr. Toshifumi Hashizume will be nominated for election as an executive director of the company at the AGM. If elected, Mr. Toshifumi Hashizume will assume the position of Managing Director of the company.

Mr. Toshifumi Hashizume is currently the General Manager of the small /mid-size specialty store planning division in Isetan Mitsukoshi Holdings Ltd. He has over 30 years of experience in the retail industry and has held various executive and managerial positions in the Isetan Mitsukoshi Holdings group of companies, including as an executive of the company from 1990 to 1996.