Protection against Officer Liability through Directors and Officers Liability Insurance
First written in FY2021. 2 of 4 entries say "Restated". Latest entry: FY2025.
- FY2025AdvancedAnnual report
「The insured persons under the policy are officers belonging to the Company and its subsidiaries, and the Company bears the entire insurance premium. To ensure that officers’ duties are performed properly, the policy excludes from coverage losses incurred by officers themselves as a result of criminal acts such as bribery or intentionally unlawful conduct.」
Discloses that the directors and officers liability insurance covers subsidiary officers as insured persons and excludes criminal acts and similar conduct from coverage. - FY2024RestatedAnnual report
「The Company has entered into a directors and officers liability insurance policy with an insurance company as prescribed in Article 430-3, Paragraph 1 of the Companies Act. Under the policy, the Company covers damages, legal expenses and other costs incurred by insured persons as a result of claims for damages arising from acts, including omissions, committed by them in the course of their duties as company officers.」
Continues to provide coverage for officers’ damages and legal expenses through directors and officers liability insurance. - FY2023RestatedAnnual report
「The Company has entered into a directors and officers liability insurance policy with an insurance company as prescribed in Article 430-3, Paragraph 1 of the Companies Act. Under the policy, the Company covers damages, legal expenses and other costs incurred by insured persons as a result of claims for damages arising from acts, including omissions, committed by them in the course of their duties as company officers.」
Continues to provide coverage for officers’ damages and legal expenses through directors and officers liability insurance. - FY2021First statedAnnual report
「The Company has entered into a directors and officers liability insurance policy with an insurance company as prescribed in Article 430-3, Paragraph 1 of the Companies Act. Under the policy, the Company covers damages, legal expenses and other costs incurred by insured persons as a result of claims for damages arising from acts, including omissions, committed by them in the course of their duties as company officers.」
Newly discloses that it has entered into an insurance policy covering damages, legal expenses and other costs arising from officers’ duties.