The board of directors of Precision Tsugami (China) Corporation Limited announced that Mr. Seiji Tsuishu ("Mr. Tsuishu") will resign from his position as a non-executive Director with effect from 1 April 2021 due to his desire to devote more time to other business commitments. Mr. Tsuishu has confirmed that he has no disagreement with the Board and there is no other matter that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the "Stock Exchange") in relation to his resignation. The Board would like to take this opportunity to express its gratitude to Mr. Tsuishu for his valuable contributions to the Company during his tenure of office. The Board announced that Mr. Kenji Yoneyama ("Mr. Yoneyama") will be appointed as a non-executive Director with effect from 1 April 2021. Mr. Yoneyama, aged 56, will be appointed as a non-executive Director and a member of the audit committee of the Company (the "Audit Committee") on 1 April 2021. He has served as a supervisor of Precision Tsugami (China) Corporation, the operating subsidiary of the Company in the PRC since May 2019. He joined Tsugami Corporation in April 2015, and served as the advisor of accounting of Tsugami Japan from April 2015 to April 2016. He has served as the general manager of accounting of Tsugami Japan since April 2016. He has served as the standing statutory auditor of Tsugami Japan since June 2017 and as the director of Tsugami Japan (members of the audit and supervisory committee) since June 2018. Prior to joining Tsugami Japan, Mr. Yoneyama held various positions at The Hokuetsu Bank Ltd. from April 1988 to April 2015. Mr. Yoneyama graduated from the Faculty of Law of Kanazawa University in 1988, majoring in Law. Following Mr. Tsuishu's resignation as a non-executive Director with effect from 1 April 2021, Mr. Tsuishu will cease to be a member of the Audit Committee. Mr. Yoneyama will be appointed as a member of the Audit Committee with effect from 1 April 2021.