Notification concerning change of directors and important personnel changes

Kudan Inc. (henceforth in this document as “Kudan”) is pleased to announce that it has resolved at its Board of Directors meeting held on May 25th, 2021 to make important personnel changes and submit proposals to be discussed regarding changes of directors at the 7th Ordinary General Meeting of Shareholders to be held on June 25th, 2021.

1. Change of directors (To be submitted to the Ordinary General Meeting of Shareholders)
(1) Candidates for directors (Directors who are Audit and Supervisory Committee Members are excluded)

Name	New Title (planned)	Current Title
Tomo Ohno	Managing Director	Same as the left
Daiu Ko	Managing Director & CEO	Same as the left
Ken Iizuka	Director	Director & CFO
Yusuke Shibata	Outside Director (New)	−

In order to further improve and strengthen the management team, a new director will be added and total four directors (this excludes directors who are Audit and Supervisory Committee Members) will be elected. Ken Iizuka, currently Director and CFO, will continuously make efforts to strengthen CVC investment and mid- to long-term growth strategy of Kudan Group as Director of Kudan as well as Managing Director and President of Kudan Vision Inc..

(2) Candidates for directors serving as Audit and Supervisory Committee Members

Name	New Title (planned)	Current Title
Takayuki Murai	Outside Director Audit and Supervisory Committee Member	Same as the left
Hisanori Oguri	Outside Director Audit and Supervisory Committee Member	Same as the left

In light of the current status of the audit system, Kudan has determined that the effectiveness of audits can continue to be ensured and will work to establish a three-member audit system, in which one director (supervisory committee member) will be reduced. Accordingly, two directors (supervisory committee members) will be elected.

(3) Biography of the candidate for a new director

Name	Career summary, positions, responsibilities, and significant concurrent positions
aaaaaa Yusuke Shibata	March 2005	Joined Deloitte Touche Tohmatsu LLC
	September 2010	Temporarily transferred to Nomura Securities Co.,Ltd.
	May 2015	Director & CFO, Evolable Asia Corp. (Currently AirTrip Corp.)
	January 2019	Representative Director & CFO, Evolable Asia Corp. (Currently AirTrip Corp.)
	January 2020	Appointed to President & Representative Director / CFO (to present), AirTrip Corp.

2. Important personnel changes (Effective July 1st, 2021)

Name	New Title (planned)	Current Title
Taro Murai	Vice President, COO	Vice President, Overseas Business Development
Kohei Nakayama	Vice President, CFO	Vice President, Finance & Business Planning

Two vice presidents will be transferred in order to strengthen the global management structure, including the accelerated management integration with Artisense Corporation.

About Kudan Inc.
Kudan (Tokyo Stock Exchange securities code: 4425) is a Deep Tech research and development company specializing in algorithms controlling artificial perception (AP). As a complement to artificial intelligence (AI), AP functions allow machines to develop autonomy. Currently, Kudan is using its high-level technical innovation to explore business areas based on its own milestone models established for Deep Tech which provide wide-ranging impact on several major industrial fields.
For more information, please refer to Kudan’s website at https://www.kudan.io/.

■Company Details
Name: Kudan Inc.
Securities Code: 4425
Representative: CEO Daiu Ko