YUSEI (00096): Executive Director Xu Yong has been appointed as Chairman of the Board.

YUSEI (00096) announced that Mr. Xu Yong, an executive director, will be appointed as the Chairman of the Board of Directors of the company, effective January 1, 2025, replacing the current Chairman, Mr. Masatoshi Masuda. Mr. Masuda, due to his advanced age, will step down from the position of Chairman of the Board of Directors on January 1, 2025, but will continue to serve as a non-executive director.