The Japan Association of Corporate Executives (Keizai Doyukai) on Thursday elected Ricoh Co. President Masamitsu Sakurai, Mitsui Fudosan Co. President Hiromichi Iwasa, and JR East Railway Co. Executive Vice President Eiji Hosoya as vice chairmen.

The three, who will serve for two years, were approved at Keizai Doyukai’s annual general meeting in Tokyo. The organization now has 13 vice chairmen.

The group also approved an amendment to its charter and set the the number of vice chairmen at between 12 and 16. Under the previous rule, 12 was the maximum.

Shotaro Watanabe, one of the group’s vice chairmen and a special adviser to Kao Corp., will take the seat of managing director, the group said.

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