Notification of Changes in the Representative Director of the Company and a Consolidated Subsidiary

Rhea-AI Summary

The Board of Directors of SQUARE ENIX HOLDINGS announced a proposed leadership change, appointing Takashi Kiryu as the new President and Representative Director. This change aims to enhance the management team in response to the rapidly evolving entertainment industry and to leverage technological innovations for improved customer experience. The transition is pending approval at the upcoming Annual Shareholders' Meeting scheduled for June 2023. Furthermore, a similar change will occur in a consolidated subsidiary, with Kiryu taking over the leadership role there as well.

Positive

• Management reshuffle aimed at improving adaptability to industry changes.
• New leadership expected to drive technological innovation and creativity.

Negative

• None.

TOKYO--(BUSINESS WIRE)-- The Board of Directors of SQUARE ENIX HOLDINGS CO., LTD. (the “Company”) announced today the following proposed changes regarding the position of Representative Director at the Company and a consolidated subsidiary.

1. Proposed Change in the Company’s President and Representative Director

(1) Reason for proposed change

Under the rapid change of business environment surrounding the entertainment industry, the proposed change is intended to reshape the management team with the goal of adopting ever-evolving technological innovations and maximizing on the creativity of the Company’s group in order to deliver even greater entertainment to its customers around the world.

(2) Details of proposed change

Name	New Title	Previous Title
Takashi Kiryu	President and Representative Director	Director
Yosuke Matsuda	－	President and Representative Director

(3) Biography of New President and Representative Director

Date of Birth	Biography		Shares owned
	Jun. 2020	General Manager Corporate Planning Division, SQUARE ENIX HOLDINGS CO., LTD.
	Apr. 2021	Chief Strategy Officer and Executive Officer, Corporate Strategy and Corporate Communications, SQUARE ENIX HOLDINGS CO., LTD. (incumbent)
Takashi Kiryu June 20, 1975		Executive Officer, SQUARE ENIX CO., LTD. (incumbent)	1,471 shares
	Jan. 2022	Chairman of the Board, SQUARE ENIX (China) CO., LTD. (the Group's operating company in China) (incumbent)
	May. 2022	Director, SQUARE ENIX CO., LTD. (incumbent)
	Jun. 2022	Director, SQUARE ENIX HOLDINGS CO., LTD. (incumbent)

(4) Effective Date

The change is to be officially finalized pending approval at the 43^rd Annual Shareholders’ Meeting scheduled for June 2023 and the meeting of the Board of Directors to be held thereafter.

2. Proposed Change in the President and Representative Director of a Consolidated Subsidiary

(1) Detail of proposed change

Company Name	Name	New Title	Previous Title
SQUARE ENIX CO., LTD.	Takashi Kiryu	President and Representative Director	Director
	Yosuke Matsuda	－	President and Representative Director

(2) Effective Date

The change is to be officially finalized pending approval at the Annual Shareholders’ Meeting scheduled for May 2023 and the meeting of the Board of Directors to be held thereafter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230302005945/en/

Kazuka Nohara

Corporate Communications, SQUARE ENIX HOLDINGS

PR-HD@square-enix.com

Source: SQUARE ENIX HOLDINGS CO., LTD.

FAQ

What leadership changes were announced by SQUARE ENIX HOLDINGS in March 2023?

SQUARE ENIX HOLDINGS proposed to appoint Takashi Kiryu as the new President and Representative Director, replacing Yosuke Matsuda.

What is the reason for the leadership change at SQUARE ENIX HOLDINGS?

The change is intended to reshape the management team to better adapt to the rapidly changing entertainment industry.

When is the leadership change at SQUARE ENIX HOLDINGS scheduled to take effect?

The change is pending approval at the Annual Shareholders' Meeting set for June 2023.

Who is the new President and Representative Director of SQUARE ENIX HOLDINGS?

Takashi Kiryu has been proposed as the new President and Representative Director.

What changes are proposed for SQUARE ENIX's consolidated subsidiary?

Takashi Kiryu is also proposed to be the new President and Representative Director of a consolidated subsidiary.