Governance structure
Company with an Audit and Supervisory CommitteeWhen one company holds most of the voting rights, its wishes are more likely to prevail in management. How the interests of minority shareholders are protected is a key issue.
This is the number of people reported to the exchange as independent officers. Whether someone is an outside officer and whether they qualify as independent are separate determinations.
As a general policy, the company does not hold so-called cross-shareholdings. It evaluates its major cross-shareholdings and is reducing them. In fiscal 2025, it reduced 6 holdings by approximately ¥4.2 billion.
Policy regarding shares of other companies held to maintain business relationships and for other purposes.
The report was updated as of 1 June 2026. It includes “Vision 2030,” the results of the reduction in cross-shareholdings in fiscal 2025, and updates to the CSV Goals. No changes to the governance structure or officer composition from the previous report are expressly stated.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Number of directors | 11 directors (including 8 outside directors) |
| Number of independent officers | 6 |
| Committee | Audit and Supervisory Committee (4 outside members; outside-member ratio: 100%), and a non-statutory Nomination and Compensation Committee (5 members, including 4 outside directors; outside-member ratio: 80%) |
| Policy on cross-shareholdings | As a general policy, the company does not hold so-called cross-shareholdings. It evaluates its major cross-shareholdings and is reducing them. In fiscal 2025, it reduced 6 holdings by approximately ¥4.2 billion. |
| Controlling shareholder | No controlling shareholder other than a parent company; no parent company |
| Changes this time | The report was updated as of 1 June 2026. It includes “Vision 2030,” the results of the reduction in cross-shareholdings in fiscal 2025, and updates to the CSV Goals. No changes to the governance structure or officer composition from the previous report are expressly stated. |
Items this document does not state (1)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The company explains that it has adopted the Audit and Supervisory Committee structure to enhance the soundness, transparency and efficiency of management and increase corporate value and shareholder value over the medium to long term. Regarding cross-shareholdings, the company states that it evaluates the benefits of holding them and the cost of capital, and is reducing its holdings based on that evaluation.