The Board of Directors of Mabuhay Vinyl Corporation in its special meeting held 15 June 2023 accepted the resignation of Mr. Takahiro Machiba effective 23 June 2023 as Director Chairman of the Board of Directors, Chairman of Executive Committee, Chairman of Executive Compensation Committee, Member Audit Committee and Member of the Nominations Committee. In the same meeting, upon endorsement by the Nomination Committee, the Board duly elected Mr. Yohei Chikamoto to serve the unexpired portion of Mr. Machiba's term of office.