At its Board of Directors Meeting held on February 5, 2020, MODEC, Inc. approved the appointment of Shoichi Taguchi as Director and Kazuhisa Nishigai as External Director and announced the resignation of Toshiro Miyazaki as Director, Chairman of the Board, Taketsune Matsumura as Director and Hiroshi Kanno as External Director. Appointment of Directors is subject to the approval at the Annual General Meeting of the Shareholders to be held on March 19, 2020.