Pixie Dust Technologies Announces CFO Transition

NEW YORK and TOKYO, March 13, 2024 /PRNewswire/ - Pixie Dust Technologies, Inc. (NASDAQ:PXDT) (the "Company"), a Japanese technology company focused on commercializing innovative products and materials utilizing proprietary wave control technology, announced the appointment of Nobuhiro Takagi and Nobufusa Tarumi as co-Chief Financial Officer ("co-CFO"), effective March 13, 2024. Messrs. Takagi and Tarumi succeed Mr. Mamoru Miwa, whose resignation was not the result of any disagreement or conflict with the Company, its operations, policies, or practices. The role of the Company's Chief Accounting Officer ("CAO"), previously held by Nobuhiro Takagi, will be assumed by the co-CFOs.

Mr. Takagi has served as the CAO of the Company since November 2023, and previously served as an audit manager at KPMG AZSA LLC, Tokyo from July 2017 to September 2020. Mr. Takagi graduated from Keio University in Tokyo, Japan in March 2003.

Mr. Tarumi has served as the Treasury Manager for the Company since September 2023. Mr. Tarumi Mr. Tarumi has roughly two decades of experience in the equity capital markets, working within the Equity Capital Market Department at SBI SECURITIES Co., Ltd. and Mizuho Securities Co., Ltd. since 2004. Mr. Tarumi graduated from the University of Tokyo in Tokyo, Japan in March 2002. 

"On behalf of Pixie Dust Technologies, I am pleased to announce Mr. Takagi and Mr. Tarumi as our new co-CFOs," said CEO Yoichi Ochiai. "Their extensive experience in finance and equity markets will be instrumental in driving Pixie Dust Technologies' growth initiatives moving forward. With both Mr. Takagi and Mr. Tarumi already being current members of our team, we anticipate and aim to further strengthen our financial well-being, enabling us to pursue new opportunities to expand our enterprise technology."

Certain statements contained in this press release are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and actual events may differ materially from current expectations. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "aim," "objective," "goal," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Any such forward-looking statements are subject to various risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, including but not limited to the strength of the economy, changes to the market for securities, the effects of inflation and its associated impact on prevailing interest rates, political or financial instability, and other factors which are set forth in the Company's prospectus that forms a part of the Registration Statement on Form F-1 (File No. 333-272476), as amended, and in all filings with the SEC made by the Company subsequent to the filing thereof. The forward-looking statements included in this press release represent the Company's views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Pixie Dust Technologies, Inc. is a Japanese technology company focused on commercializing innovative products and materials utilizing proprietary wave technology. The Company is currently focusing on two areas of product development: (1) "Personal Care & Diversity", where wave control technology is applied to mechanobiology and intervention/assistance in vision, hearing, and touch, and (2) "Workspace & Digital Transformation," where metamaterials (technology that creates properties through structure rather than material) and solutions to commercial design problems, such as in offices or construction sites, are applied.

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SOURCE Pixie Dust Technologies