Indemnification of Officers and Employees for Damages under Directors and Officers Liability Insurance
First written in FY2022. 1 of 2 entries say "Restated". Latest entry: FY2024.
- FY2024RestatedAnnual report
「The Company has entered into a directors and officers liability insurance contract as prescribed in Article 430-3, paragraph 1 of the Companies Act, under which the insured parties are directors of the Company and its subsidiaries, including outside directors, audit & supervisory board members, including outside members, executive officers, managerial employees, and employees who are co-defendants with officers.」
The company continues to maintain directors and officers liability insurance covering directors, corporate auditors, executive officers, management-level employees, and others. - FY2022First statedAnnual report
「The Company has entered into a directors and officers liability insurance contract as prescribed in Article 430-3, paragraph 1 of the Companies Act, under which the insured parties are directors of the Company and its subsidiaries, including outside directors, audit & supervisory board members, including outside members, executive officers, managerial employees, and employees who are co-defendants with officers.」
For the first time, the Company has disclosed directors and officers liability insurance covering directors, audit & supervisory board members, executive officers, managerial employees and others as a standalone governance arrangement. The insurance covers litigation costs and other expenses associated with claims for damages by third parties and shareholders, with the Company bearing the full insurance premiums, while acts knowingly conducted in violation of laws and regulations and other matters are excluded from coverage.