Dependence on the founder and representative director and president
First written in FY2017. 2 of 6 entries say "Restated". Latest entry: FY2026.
Maruchiyo Yamaokaya moved to the "Worse" side of this theme in 2026, 1 year after the typical company in this theme (2025).
The whole theme swung hardest in 2026: 10 of 77 companies on the "Worse" side.
10 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「Yamaoka Tadashi (山岡 正) retired upon the conclusion of the 32nd Annual General Meeting of Shareholders held on 24 April 2025,」
For founder Yamaoka Tadashi (山岡 正), the disclosure has changed from the structure with him serving as Representative Director and Chairman to the structure following his retirement in April 2025. - FY2022RestatedAnnual report
「The Company is currently working to establish a structure that does not depend excessively on Representative Director and Chairman Yamaoka Tadashi (山岡 正), including by delegating authority to other directors, but」
While the founder plays a central role in management as Representative Director and Chairman, the Company continues to avoid excessive dependence through measures including the delegation of authority. - FY2021ReframedAnnual report
「The Company's founder, Representative Director and Chairman Yamaoka Tadashi (山岡 正), has played a central role in the Company's business since its establishment, including determining management policies and business strategies.」
The disclosure states that the founder's position changed from Representative Director and President to Representative Director and Chairman, while the policy of avoiding excessive dependence through the delegation of authority to other directors remains in place. - FY2019RestatedAnnual report
「The Company is currently working to establish a structure that does not depend excessively on Representative Director and President Yamaoka Tadashi (山岡 正), including by delegating authority to other directors, but」
The policy of recognising the risk of dependence on the founder and president and avoiding excessive dependence through measures including the delegation of authority remains in place. - FY2018MitigatedAnnual report
「The Company is currently working to establish a structure that does not depend excessively on Representative Director and President Yamaoka Tadashi (山岡 正), including by delegating authority to other directors.」
The disclosure recognises the risk of dependence on the founder and president and states that the Company is working to avoid excessive dependence through measures including the delegation of authority. - FY2017First statedAnnual report
「The Company's founder, Representative Director and President Yamaoka Tadashi (山岡 正), has played a central role in the Company's business since its establishment, including determining management policies and business strategies.」
The disclosure identifies the risk of dependence on a specific individual, as the founder and president plays a central role in determining management policies and business strategies.