Mr. Takakura succeeds Hiroya Nobuhara who had served as JCB's President and CEO for the past 4 years. Prior to this appointment, Mr. Takakura had been JCB's Deputy President since 2002. Before joining JCB, his career included close to 10 years of international banking management positions at the former Sanwa Bank. Mr. Nobuhara is retiring after 4 years of leadership at JCB as President and CEO having made substantial contributions to expand its wide-ranging business as a payment solution provider.

JCB International Co., Ltd. (JCBI), the wholly owned subsidiary of JCB for overseas business, also announced management changes at its annual shareholders' meeting in Tokyo held on June 27. Mr. Takakura succeeds Mr. Nobuhara as Chairman and Chief Executive Officer of JCBI. Kenji Seto, formerly Senior Deputy President, is appointed as President and Chief Operating Officer (COO). Mr. Seto joined JCB in 2005 and JCBI in 2006, bringing 15 years of experience in the international banking industry at Sumitomo Mitsui Banking Corporation. Kunio Yoshizawa, who held the position of President and COO of JCBI for the past 4 years, is retiring after 13 years of dedication to the growth of JCB's presence in the overseas market. These appointments are also made with immediate effect.