Fujikura : Notice of Changes to Management Structure and Determination of Director Nominees to be Submitted at the 174th Annual General Meeting of Shareholders

February 24, 2022

Dear All

Company Name:	Fujikura Ltd.
Representative:	Masahiko Ito, Director, President and CEO
	(Code: 5803 First Section of TSE)
Inquiries:	Masayoshi Yamanaka, General Manager of
	Corporate Strategy Planning Division
	(TEL. [phone])

Notice of Changes to Management Structure and

Determination of Director Nominees to be Submitted at the 174th Annual General Meeting of Shareholders

At a meeting of the Board of Directors today, Fujikura Ltd. (hereinafter the "Company") has decided on changes to its management structure from April 1, 2022, and on director nominees to be submitted at the 174th Annual General Meeting of Shareholders scheduled in June 2022.

1. Background

As announced in the timely disclosure dated February 9, 2022, the Group has decided to take a new step forward by positioning the new fiscal year starting in April 2022 as the Sustained Growth Phase, with the current Director and COO Okada taking the helm of the Group as Director, President and CEO. This is based on the view that the Company has made a certain degree of progress in the structural reforms and other initiatives it has implemented in the Operational Turnaround Phase. For the new management structure to drive the growth of "new Fujikura," the Company has decided to establish the CFO (Chief Financial Officer) and CTO (Chief Technology Officer) positions in addition to the CEO (Chief Executive Officer) position to strongly promote the strengthening and acceleration of management functions.

2. Purpose

With the appointment of a new CEO on April 1, 2022, the Director, President and CEO will lead the Group and promote the execution of core businesses as well as the Company's growth strategy from a company-wide perspective.

Meanwhile, as a manufacturing company that has chosen the Prime Market, which requires a high level of governance and high corporate value, the Company believes that it is essential to appoint personnel who have a high level of expertise in the fields of corporate finance and technology development, which require an extremely high level of expertise, and who can execute operations from a company-wide perspective. For this, the Company aims to achieve sustained growth by establishing a structure that will enable the CEO to promote company-wide strategies to the fullest by having the CFO and CTO each complementing a part of the CEO's authority with their financial and technical expertise.

The Company acknowledges that one of the reasons for the rapid deterioration of its business performance in fiscal 2019 is the major issue of the difficulty in responding flexibly to the changes in the business environment as a result of an enormous amount of capital investment. For this, as part of its future growth strategy, the Company has decided to appoint a CFO to reinforce financial discipline from the perspective of optimizing company-wide investment judgements and strengthening risk management, with the mission of maximizing corporate value.

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The Company has advocated the "Fujikura of Technology" brand, and believes that this has become more or less widespread in the industry. The Company also views that there are business opportunities in which its superior technology can be applied to various changes in society and technological progress that will occur in the future, and is determined to reinforce its technological capabilities once again as "Fujikura of Technology." For this, the Company has decided to appoint a CTO who will be responsible for formulating company-wide business strategies from a technological standpoint.

As indicated in the skill matrix in the Notice of Convocation of Fujikura's 173rd Annual General Meeting of Shareholders and the annual report issued this fiscal year, the Company had not been able to appropriately assign executive directors with financial and technical expertise. With the appointment of CFO and CTO, the skill set of the internal directors will encompass corporate strategy, finance, technology and global operations.

Under this management structure, the "new Fujikura" will continue to promote its business to achieve sustained growth. The new medium-term management plan as a new growth strategy is scheduled to be announced in May 2023.

3. Changes to the Management Structure

1. Changes in directors as of the Annual General Meeting of Shareholders in June 2022 (Current title in parenthesis)

(Including changes in Representative Director after appointment at the Annual General Meeting of Shareholders)

i) New appointments Director nominees not serving as Audit and Supervisory Committee Members

Koichi Takemoto (Executive Business Management Advisor) *To be appointed as Corporate Officer & CFO as of April 1, 2022

If so appointed at the Annual General Meeting of Shareholders to be held in June 2022, he is scheduled to be selected as Representative Director at the subsequent Board of Directors meeting.

Tatsuya Banno	(Corporate Officer, Telecommunication Systems Business Unit)
*To be appointed as Corporate Officer & CTO as of April 1, 2022
ii) Retiring director (Title after retirement in parenthesis)
Director Masato Inaba	(Executive Advisor)

1. Management and Business Execution Structure as of April 1, 2022

Name	New		Currently
Masahiko Ito	Chairperson of the Board of Directors	President & CEO
	*Will assume the position of non-	(Representative Director)
	executive Chairperson of the Board
	of Directors, independent of business
	execution.
Naoki Okada	President & CEO	Director & COO
	(Representative Director)	(Representative Director)
Koichi Takemoto	Corporate Officer & CFO	Executive	Business	Management
	& Head of Corporate Planning Unit	Advisor
	*A director nominee to be submitted
	at the Annual General Meeting of
	Shareholders scheduled on June 29,
	2022. Representative authority is
	scheduled to be granted at a meeting
	of the Board of Directors after the
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	appointment as a director.
Tatsuya Banno	Corporate Officer & CTO		Corporate Officer
	& Head of Research and New Business	Head	of Telecommunication	Systems
	Development Unit		Business Unit & General Manager,
	* A director nominee to be submitted	Optical Cable Systems Division
	at the Annual General Meeting of
	Shareholders scheduled on June 29,
	2022.
Joseph	Director, Corporate Officer		Same as on the left
E. Gallagher	(President of AFL Telecommunications
	LLC）
Masato Inaba	Director			Director, Corporate Officer
Shigeo Sekikawa	Director serving as Audit and	Same as on the left
	Supervisory Committee Member
Yoshio Shirai	Director serving as Audit and	Same as on the left
	Supervisory	Committee	Member
	(Outside Director)
Hamako Hanazaki	Director serving as Audit and	Same as on the left
	Supervisory	Committee	Member
	(Outside Director)
Keiji Yoshikawa	Director serving as Audit and	Same as on the left
	Supervisory	Committee	Member
	(Outside Director)
Yoji Yamaguchi	Director serving as Audit and	Same as on the left
	Supervisory	Committee	Member
	(Outside Director)
Kozo Meguro	Director serving as Audit and	Same as on the left
	Supervisory	Committee	Member
	(Outside Director)
Keiko Shindo	Corporate Officer		Same as on the left
	Head of Corporate Governance Unit &
	General Manager, Legal Department
Yuki Mori	Corporate Officer		Corporate Staff Unit General Manager,
	Head of Corporate Staff Unit General	Human Resource Division
	Manager, Human Resource Division
Noriyuki Kawanishi	Corporate Officer		Telecommunication Systems	Business
	Head of Telecommunication Systems	Unit	General Manager,	Precision
	Business Unit		Equipment Division
Junji Fukuhara	Corporate Officer		Corporate Officer
	Head of	Electronic Components	Head of Marketing & Procurement Unit
	Business Unit & Connector Business	& Electronic Components Business Unit
	Unit
Shuichi Nasu	Corporate Officer		Same as on the left
	Head of Automotive Products Business
	Unit
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	Tetsuya Mangyoku	Corporate Officer		Same as on the left
			Head of Production Engineering Unit
(Reference)
	Biography of the New Director Nominees
		Name		Koichi Takemoto
		Date of birth		February 18, 1964
		Job history		Apr. 1987	Joined Matsushita Electric Industrial Co., Ltd. (currently
					Panasonic Corporation)
				Sep. 1997 Company North America Consumer Electronics Accounting
					Department Controller
				Jun. 2001 Car Electronics North America, Inc. Accounting Department
					General Manager
				Apr. 2003 Automotive Systems of North America, Inc. Accounting
					Department General Manager
				Oct. 2012 Automotive & Industrial Systems Company, Automotive
					Financial Management Group General Manager
				Jul. 2018 Managing Officer (CFO), Appliances Company
					In charge of Accounting Director, Company Management
					Support Center, Company Strategy Division
					Director, Accounting Center
				Nov. 2021 Joined the Company
					Executive Corporate Management Advisor (to present)
				Apr. 2022 Corporate Officer & CFO (Scheduled)
		Name		Tatsuya Banno
		Date of birth		August 22, 1964
		Job history		Apr. 1987 Joined the Company
				May 2009 General Manager, Optical Production Engineering
					Department, Optical Fiber & Cable Systems Division
				Apr. 2013 General Manager, Optical Fiber Production Engineering
					Department, Optical Business Division, Optical Business Unit
				Apr. 2015 General Manager, Head of Optical Cable Division, Optical
					Business Unit
				Oct. 2015 Deputy General Manager, Optical Cable Systems Division
				Apr. 2018 Deputy General Manager, Optical Fiber Division
				Apr. 2020 Corporate Officer, General Manager, Head of Optical Fiber
				Division
				Apr. 2021 Corporate Officer, Head of Telecommunication Systems
					Business Unit (to present)
				Apr. 2022 Corporate Officer & CTO (Scheduled)

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(Appendix) Reference:New Management Structure from April 2022 (including positions to be appointed after the 174th Annual

General Meeting of Shareholders)

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※3 FPCL,Energy Company to be split

Scheduled to be spun off in May for FPCL(Fujikura Printed Circuits Ltd.) and October for companies scheduled to be split off)

Current Management Structure

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