Enhancing Procedural Fairness and Transparency through Nomination and Compensation Advisory Committees

「The Nomination and Compensation Advisory Committee met a total of 7 times during the fiscal year, and the attendance of each member was as follows. During the fiscal year, the committee made recommendations to the Board of Directors on the policy for determining base compensation and the details of individual base compensation, individual year-end bonuses for officers, and the number of shares allocated to each individual under the restricted stock compensation plan.」

「The committee deliberates and makes recommendations to the Board of Directors on matters referred by the Board, including the policies and criteria for the appointment and dismissal of directors, audit & supervisory board members and executive officers and related matters; the policies and criteria for the appointment and dismissal of representative directors and directors with specific titles and related matters; and the policy for determining the compensation of directors and executive officers and matters concerning individual compensation.」

「To strengthen the fairness, transparency and objectivity of procedures concerning the nomination and compensation of representative directors, directors, audit & supervisory board members and executive officers, and to enhance our corporate governance, we established the voluntary Nomination and Compensation Advisory Committee, an advisory body to the Board of Directors. The committee consists of 3 or more directors selected by the Board of Directors, with a majority being outside directors.」