Frontier Management Inc. announced that it has decided to make the following changes, at the Extraordinary Board of Directors' Meeting held on September 10, 2020. Name: Masahiro Matsuoka. New Title: Co-President, Head of Consulting Department 2, Chairman of the Board of Frontier Management (Shanghai) Inc., Co-President of FCD Partners Inc. Former Title: Co-President, Head of Consulting Department 2, Head of Business School Section, Chairman of the Board of Frontier Management (Shanghai) Inc., Co-President of FCD Partners Inc. Name: Yoshiaki Takahashi. New Title: Director of the board, Director of Corporate Strategy Division, Supervisor of the board of Frontier Management (Shanghai) Inc. Former Title: Director of the board, Head of Business Administration Department, Supervisor of Business Promotion Department, Supervisor of the board of Frontier Management (Shanghai) Inc. Name: Junko Koshino. New Title: Executive Officer, Head of Corporate Strategy Department, Assistant to the Director of Corporate Strategy Division. Former Title: Executive Officer, Managing Director of Business Administration Department. Name: Norihiro Yamagishi. New Title: Head of Human Resources and General Affairs Department. Former Title: Head of Business Promotion Department.