SODEN Establishes Board of Directors to Strengthen Its Management Structure Atsushi Iwata Newly Appointed as Corporate Auditor as the Company Works Toward Building Distributed Battery Storage Stations

SODEN Inc. (Headquarters: Chuo-ku, Tokyo; Representative Director: Rui Iino) is pleased to announce that it has appointed Atsushi Iwata as Non-Standing Corporate Auditor and has established a Board of Directors to strengthen its management structure.

Background: Strengthening Governance and the Management Foundation as the Business Expands

SODEN is a VPP (Virtual Power Plant) startup whose mission is "to create an open world where anyone can freely control electricity." By combining battery storage with technology, SODEN builds distributed battery storage stations: it installs batteries across small spaces throughout cities and controls them in an integrated way, creating a system for efficiently storing, using, and selling electricity. The company aims to build 2 GWh of distributed battery storage stations by 2030.

To steadily advance this business expansion, SODEN has newly established a Board of Directors and has strengthened its management control and governance framework so that it supports sound decision-making and risk management.

SODEN has also appointed Atsushi Iwata as Non-Standing Corporate Auditor. Drawing on the experience and expertise Mr. Iwata has built in finance, accounting, and internal control, SODEN will work to ensure the soundness and transparency of its management through audits conducted from an independent standpoint.

Comment from Atsushi Iwata, Non-Standing Corporate Auditor

"I have been appointed Non-Standing Corporate Auditor of SODEN Inc. I am truly honored to join a growing company that is aiming for an IPO and to support it in that challenge. Over 43 years at Unicharm, I was involved in finance and accounting, internal control including J-SOX, M&A, intellectual property, legal affairs, and governance.

Drawing on this experience, I will audit the Board's decision-making and the execution of business from an independent standpoint, and contribute to the company's sustainable growth and the enhancement of its corporate value. I will do my utmost to support President Iino and all of SODEN's employees in their endeavors."

Profile of Atsushi Iwata

Joined Unicharm Corporation in 1982 and oversaw corporate functions across the organization, including corporate planning, accounting, and intellectual property and legal affairs. From 2011, as Country President of the company's Vietnamese subsidiary, he led the post-merger integration (PMI) of an acquired company. Over four years he substantially grew both net sales and operating profit, and established the No. 1 market share in baby diapers and feminine care products. As Senior Executive Officer, he served successively as General Manager of the Accounting & Finance Division and General Manager of the Intellectual Property Division, and led capital policy and organizational reforms, including the resolution of a parent-subsidiary dual listing and the introduction of J-SOX. He served as an advisor to the company from January 2023 and retired at the end of 2025. He has over 40 years of experience leading corporate functions. He was appointed Non-Standing Corporate Auditor of SODEN in August 2026.