News Release

Change in Representative Director

Sep 23, 2020
J Trust Co., Ltd.

						

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J Trust Co., Ltd. (hereinafter, the “Company”) resolved, at the Board of Directors’ meeting held today, regarding a change in Representative Director to be effected on October 30, 2020. As stated in the press release “Conclusion of Share Exchange Agreement between J TRUST Card and SAMURAI&J PARTNERS and Change in Subsidiary" announced today, J TRUST Card Co., Ltd. (“J TRUST Card") concluded a share exchange agreement with SAMURAI&J PARTNERS Co., Ltd. ("SAJP"), an alliance partner, as the wholly owned parent company and J TRUST Card as the wholly owned subsidiary of the share exchange (“Share Exchange"). The Share Exchange is subject to obtaining approval by special resolution at the extraordinary general meetings of shareholders of SAJP and J TRUST Card scheduled for October 30, 2020. In addition, the Share Exchange is subject to the following conditions: proposed amendments to the Articles of Incorporation regarding addition of new provisions on class shares, etc. will be approved by special resolution; the reduction in the amount of capital and the appropriation of surplus is approved by special resolution; and the appointment of one director is approved by ordinary resolution at the extraordinary general meeting of shareholders of SAJP.  

1.Reason for the Change

Under the vision of "We aim to be a provider of unique financial services not constrained by existing paradigms”, we have been working proactively to enhance corporate value and reinforce the business foundation both at home and abroad. Meanwhile, due to the spread of COVID-19, future management environment is expected to change significantly. We recognize that it is critical for the Group to examine political and economic conditions of each country, profitability of business, etc. individually and to restructure the business portfolio that can take a balance between liquidity and profitability to adapt to the volatile economic environment in the wake of the pandemic. To accelerate these efforts, we have decided to change Representative Director. Mr. FUJISAWA Nobuyoshi (“Mr. Fujisawa”), new Representative Director, President and Chief Executive Officer, is the largest shareholder of the Company and has long been leading the Group management as Representative Director. Going forward, we believe that Mr. Fujisawa will contribute to the Group’s sustainable growth and help increase corporate value over the medium to long term. Mr. EGUCHI Joji, (“Mr. Eguchi”) current Representative Director, President and Chief Executive Officer of the Company, will resign from his post, but will assume the position of Chairman of SAJP in the future. In addition, since SAJP is interested in the Fintech business in South Korea, it is expected that Mr. Eguchi will continue to play a prominent role by demonstrating his abundant experience of serving key positions in South Korean subsidiary including JT Chinae Savings Bank Co., Ltd for a long time. Mr. Eguchi is also a Director of consolidated subsidiaries JT Savings Bank, Ltd., JT Capital Co., Ltd., among others, and will concurrently serve as a Director. Meanwhile, Mr. CHIBA Nobuiku, Representative Director, Executive Vice President, will continue to operate the Company as Representative Director, Executive Vice President.

2.Change in Representative Director

Name Title Current position
FUJISAWA Nobuyoshi Representative Director, President and Chief Executive Officer Chairman and Director
EGUCHI Joji (Outgoing) Representative Director, President and Chief Executive Officer

3.Career Summary of Newly Appointed Representative Director

Name FUJISAWA Nobuyoshi
New Title Representative Director, President and Chief Executive Officer
Date of Birth January 17, 1970
Number of Shares Held 10,427 thousand shares*
Career Summary
August 2007 Representative Director & Chairman, Kazaka Servicer Co., Ltd. (currently Partir Servicer Co., Ltd.)
June 2008 Representative Director & Chairman, J Trust Co., Ltd.
June 2010 Director, J Trust Co., Ltd.
Director, ADORES, Inc. (currently KeyHolder, Inc.)
October 2010 Director & Supreme Advisor, J Trust Co., Ltd.
May 2011 Representative Director & Chairman, ADORES, Inc. (currently KeyHolder, Inc.)
June 2011 President & CEO, J Trust Co., Ltd.
October 2013 Managing Director & CEO, JTRUST ASIA PTE. LTD. (incumbent)
January 2014 Chairman, Chinae Savings Bank Co., Ltd. (currently JT Chinae Savings Bank Co., Ltd.)
May 2014 Chairman, ADORES, Inc. (currently KeyHolder, Inc.)
September 2014 Executive Director, LCD Global Investments LTD. (currently AF Global Limited.)
March 2015 Director & Chairman, JT Capital Co., Ltd.
June 2015 Representative Director, President & CEO, J Trust Co., Ltd.
President Commissioner, PT JTRUST INVESTMENTS INDONESIA
Director, ADORES, Inc. (currently KeyHolder, Inc.)
March 2017 Outside Director, DIGITAL DESIGN Co., Ltd. (currently SAMURAI&J PARTNERS Co., Ltd.)
June 2019 Chairman and Director, KeyHolder, Inc. (incumbent)
March 2020 Chairman and Director, J Trust Co., Ltd. (incumbent)
June 2020 Director (non-Audit and Supervisory Committee member), Prospect Co., Ltd.
July 2020 Chairman and Representative Director, Prospect Co., Ltd. (incumbent)
* As of June 30, 2020, the number of shares owned by Mr. Fujisawa is 43,891 thousand shares. The figures include: (i) 31,197 thousand shares held by NLHD Kabushiki Kaisya, which is wholly owned by Mr. Fujisawa; and (ii) 2,266 thousand shares held by JAPAN POCKET Co., Ltd., which Mr. Fujisawa substantially owns 100% of voting rights.

4.Scheduled Change Date

October 30, 2020

End

Contact for inquiries

J Trust Co., Ltd. Finance Department