NAGOYA ELECTRIC WORKS CO., LTD.

Outside Director

Name Independent director/auditor Supplementary explanation on conformity Reason for assignment
Yoshifumi Akazawa Yes Based on his extensive knowledge and experience in corporate legal affairs as an attorney-at-law, he is expected to supervise the Company's management from an independent, professional and neutral standpoint, and is judged to be able to appropriately perform his duties as an outside director. We have designated him as an independent director because he meets the criteria for independent directors stipulated by the Nagoya Stock Exchange, and we have determined that there is no risk of a conflict of interest between him and general shareholders.

Outside Corporate Auditor

Name Independent director/auditor Supplementary explanation on conformity Reason for assignment
Hiroya Ichihara Yes As an accountant, he has considerable knowledge of corporate finance and accounting, and is expected to monitor the management from a professional and neutral standpoint.
Michihisa Takagi Yes He is a qualified attorney at law, and is expected to reflect his deep insight on legal matters in our audits and to monitor the management from a neutral standpoint.