Notice Regarding Appointment of Director of Subsidiary (Tosei Asset Advisors, Inc.)

[Translation]

To Whom It May Concern

November 29, 2013

Tosei Corporation

Toranomon Tosei Building, 4-2-3 Toranomon, Minato-ku, Tokyo

President and CEO: Seiichiro Yamaguchi

Securities code: 8923 (Tokyo Stock Exchange, First Section)

Securities code: S2D (Singapore Exchange, Main Board)

Contact: Noboru Hirano, Director and CFO

TEL: +81-3-3435-2864

Notice Regarding Appointment of Director of Subsidiary
(Tosei Asset Advisors, Inc.)

Tosei Corporation (the "Company") hereby announces that Tosei Asset Advisors, Inc., a wholly-owned subsidiary of the Company, has appointed a new director as follows:

Name
Hiroshi Nakamura	Effective December 1, 2013 To be assigned as Representative Director and Chairman

End

Reference: Background of the New Director

Name	Hiroshi Nakamura
Work Experience	April 1975	Joined The Bank of Tokyo, Ltd.
	August 1987	Joined Bankers Trust & Co., New York
	October 1990	Joined Merrill Lynch & Co., New York
	August 1997	Joined Morgan Stanley Japan K.K.
	July 1999	Joined Moore Strategic Value Partners, Japan LLC
	October 2004	Joined Strategic Value Partners, Japan LLC
	November 2007	Joined Oaktree Japan G.K.