Denka : Notice regarding Changes in Representative Directors and Other Directors as well as Executive Officers

February 7, 2017 Denka Company Limited (Denka)

Denka Company Limited (hereafter "Denka") hereby announces a decision made at the Board of Directors meeting held on February 7, 2017 regarding changes in its representative directors and other directors as well as executive officers. This decision also lays out changes in their job assignments and the Company's organizational structure. Details follow.

1. Change in Representative Directors

2. Reasons for the Change

   Denka aims to establish a more robust management structure capable of better handling its operations in ever-widening business fields and increasingly globalized settings while also enhancing its corporate governance functions.

3. Details of the Change

   Name	New Position	Current Position
   Shinsuke Yoshitaka	Representative Director, Chairman, Board of Directors	Representative Director, President and Chief Executive Officer
   Manabu Yamamoto	Representative Director, President and Chief Executive Officer	Director, Senior Managing Executive Officer
   Mitsukuni Ayabe	Director, Vice President	Representative Director, Chief Operating Officer

4. Career Summary of the New Representative Director Please see the attached reference.

5. Effective Date of the Change April 1, 2017

6. Changes in Directors, Executive Officers and Their Job Assignments

   (Underlined text indicates new position or job assignment.)

7. Changes in Directors (scheduled for late June 2017)

   Director Candidates Put forward for Approval by the 158th Annual General Stockholders' Meeting

   Name	New Position	Current Position
   Norihiro Shimizu	Director, Managing Executive Officer	Managing Executive Officer

   Retiring Directors

   (Persons whose current term of office is set to expire at the close of the upcoming 158th annual General Stockholders' Meeting)

   Name	New Position	Current Position
   Tetsuro Maeda	Chairman, Board of Directors,Denka Seiken Co., Ltd. (effective date: April 1, 2017)	Director; President & CEO, Denka Seiken Co., Ltd.

8. Changes in Executive Officers (effective date: April 1, 2017)

   Name	New Position	Current Position
   Mitsukuni Ayabe	Vice President, Supervisor of Life Innovation; President & CEO, Denka Seiken Co., Ltd.,	Chief Operating Officer, Assistant to CEO; Supervisor of planning and development: Purchasing Dept., Logistics Dept.
   Toshiharu Kano	President & CEO, Denka Consultant & Engineering Co., Ltd.(vacating the position of executive officer at Denka on March 31, 2017)	Senior Managing Executive Officer, Omi Plant
   Hideyuki Udagawa	President & CEO, YK Inoas Co., Ltd. (vacating the position of executive officer at Denka on March 31, 2017)	Senior Managing Executive Officer, Infrastructure & Social Solutions: Overseas operations related to special cement additives
   Sanshiro Matsushita	President & CEO, Toyo Styrene Co., Ltd. (vacating the position of executive officer at Denka on March 31, 2017)	Managing Executive Officer, Electronics & Innovative Products

   Name	New Position	Current Position
   Kenji Nakano	Managing Executive Officer, Chief Compliance Officer (CCO), Secretary Dept., Internal Auditing Dept., Administrative Dept., Legal Dept., HR Dept., DENKA100 Promoting Dept.	Managing Executive Officer, Chief Compliance Officer (CCO), Representative in China; Secretary Dept., Administrative Dept., Legal Dept., HR Dept., DENKA100 Promoting Dept.
   Masaharu Suzuki	Managing Executive Officer, Investor Relations Dept., CSR & Corporate Communications Dept.; Denka Chemicals Holdings Asia Pacific Pte. Ltd.	Managing Executive Officer, Denka Chemicals Holdings Asia Pacific Pte. Ltd.
   Ken Koizumi	Advisor (vacating the position of executive officer at Denka on March 31, 2017)	Executive Officer, Chiba Plant
   Tetsuya Shinmura	Managing Executive Officer, Chief Technical Officer (CTO), Purchasing Dept., Logistics Dept.	Executive Officer, Technology Div.
   Junichi Kimura	Managing Executive Officer, Representative, China: Living & Environment Products (change in English translation of division name)	Executive Officer, Life Science & Environment Products
   Toshio Imai	Managing Executive Officer, Representative, USA; Elastomers & Performance Plastics	Executive Officer, Elastomers & Performance Plastics
   Hideki Hirano	Managing Executive Officer, Omi Plant	Executive Officer, Omuta Plant
   Hideki Watanabe	Executive Officer, Chiba Plant	Executive Officer, Deputy General Manager, Omi Plant
   Shojiro Watanabe	Executive Officer, Electronics & Innovative Products	Shibukawa Plant, Assistant to MEO, Electronics & Innovative Products

   Name	New Position	Current Position
   Nobuyuki Yoshino	Executive Officer, Assistant to Chief R&D Officer, Advanced Technologies Research Institute	Assistant to Chief R&D Officer, Advanced Technologies Research Institute
   Kazuya Tokumoto	Executive Officer,Managing Director, Denka Chemicals Holdings Asia Pacific Pte. Ltd., Denka Singapore Pte. Ltd., Denka Advantech Pte. Ltd.	Managing Director, Denka Singapore Pte. Ltd., Denka Advantech Pte. Ltd.
   Hideki Takahashi	Executive Officer, Life Innovation	Executive Officer, Denka Seiken Co., Ltd.
   Kazuo Takahashi	Executive Officer, Omuta Plant	Ofuna Plant
   Rimiru Hayashida	Executive Officer, Accounting & Finance Dept.; Information System Dept.	Accounting & Finance Dept.

9. Creation of a New Division (effective on April 1, 2017)

In the promising fields of healthcare and life science, Denka is striving to expand its operations by harnessing its strengths in disease prevention and diagnosis. Also, Denka is tapping into such new businesses as those connected with epoch-making cancer treatment drug and cancer gene mutation test and information service. With this in mind, Denka aims to nurture its healthcare-related operations into a key Group earnings pillar and, to this end, decided to establish the Life Innovation Division as one of the business divisions directly managed by headquarters. This division will be in charge of handling all Group resources associated with healthcare-related operations. As such, the upcoming organizational change is expected to help us utilize management resources more efficiently while supporting our business strategies and initiatives aimed at securing sustainable growth.