Organizational meeting of SATO Corporation's Board of Directors

23 June 2020

SATO Corporation, Stock Exchange Release, 23 June 2020 at 4.25 pm

On 23 June 2020, the SATO Annual General Meeting elected Erik Selin to serve as Chairman of the Board of Directors of SATO Corporation. 

At its organizational meeting also held on 23 June 2020, the Board elected from among its number Jukka Hienonen to serve as Deputy Chairman. 

Erik Selin was appointed by the Board to chair the Nomination and Remuneration Committee and Jukka Hienonen and Tarja Pääkkönen to serve as Committee members. 

For more information please contact:

Sharam Rahi, President and CEO, phone +358 201 34 4001
Markku Honkasalo, CFO, phone +358 201 34 4226

DISTRIBUTION: NASDAQ Helsinki Ltd., main media,

_SATO is one of Finland's leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer experience. At year-end 2019, SATO owned over 26 000 apartments in Finland's largest growth centres and in St Petersburg.

We promote sustainable development and initiative through our operations and work in open interaction with our stakeholders to generate added value. We operate profitably and with a long-term view. We increase the value of our housing stock through investments, divestments and repairs.

SATO Group's net sales in 2019 were EUR 296 million, operating profit EUR 726 million and profit before taxes EUR 671 million. The value of SATO's investment assets is roughly EUR 4,7 billion. _