Notice of Resignation and Change of Representative Director

Subaru Corporation hereby announces that the Company resolved the resignation and change of Representative Director as detailed below.

1. Resignation of Representative Director (Director in charge of manufacturing) (Effective December 31, 2018)
(1) Details of change

Name	New position	Current position
Masaki Okawara	Executive Vice President	Representative Director of the Board and Executive Vice President

Note1:	Masaki Okawara will retire as Executive Vice President effective March 31, 2019.
Note2:	As a result of this change, the number of Representative Directors of the Company will be one person; Tomomi Nakamura, Representative Director of the Board and President.
Note3:	After the resignation of one current Director, the Company still satisfies the number of Directors as stipulated by laws and regulations and the Articles of Incorporation.

(2) Reason for change
　Voluntary resignation

(3) Effective date
　December 31, 2018

2. Newly appointed representative director (Effective June 2019)
(1) Details of change

Name	New position	Current position
Kazuo Hosoya	Representative Director of the Board and Deputy President	President, Tokyo Subaru Inc.

Note1:	Appointed as Deputy President effective January 1, 2019.
Note2:	Nominated as a candidate for the Representative Director position. The election is subject to the approval of the 88th Annual General Meeting of Shareholders (the “AGM”) to be held in June 2019 and a resolution at the Board of Directors meeting to be held after the close of the AGM. Other candidates for new Directors have not been decided at this time.

(2) Reason for change

The Company nominates a new Representative Director candidate, following the resignation of the current Representative Director. The Company will further strengthen its efforts to prevent recurrence of the issues identified in relation to final inspection procedures at its Gunma Manufacturing Division, by reshuffling the management team of its manufacturing organization.

(3) Effective date
　June 2019

(4) Brief biography of newly-nominated Representative Director

Name (Date of birth)	Brief Career History		Number of shares owned
Kazuo Hosoya (July 29, 1957)	April 1982	Joined Fuji Heavy Industries Ltd. (now, Subaru Corporation)	10,421
	May, 2006	General Manager, Corporate Planning Department
	January, 2009	Senior General Manager, Subaru Japan Sales & Marketing Division
	June, 2010	President, Tokyo Subaru Inc.
	April, 2012	Corporate Vice President General Manager, Human Resources Department
	April, 2014	Corporate Senior Vice President General Manager, Human Resources Department General Manager, Career Support Office President, Subaru Bloom Co.Ltd
	April, 2015	Corporate Senior Vice President Chief General Manager, Subaru Japan Sales & Marketing Division
	April, 2016	Corporate Executive Vice President Chief General Manager, Subaru Japan Sales & Marketing Division
	April, 2018	President, Tokyo Subaru Inc. (current position)

(Note)
The Company today issued a news release “Subaru Corporation Announces Management Changes (Effective January 1, 2019)”.
URL: https://www.subaru.co.jp/press/news-en/2018_12_11_6633/

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