Governance structure
Company with an Audit & Supervisory BoardWhen 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.
The Company reviews the rationale for continuing to hold policy-oriented shares and the number of shares held. As of the end of December 2025, it held 40 issues, with a total balance-sheet carrying amount of ¥8,113 million. During fiscal 2025, the Company sold all shares of 1 listed issue, while 1 unlisted issue became listed. At the end of December 2014, it held 83 issues with a total carrying amount of ¥9,384 million.
Policy regarding shares of other companies held to maintain business relationships and for other purposes.
Not adopted
Pre-agreed countermeasures in preparation for an unsolicited takeover attempt.
Following the conclusion of the General Meeting of Shareholders held on 26 March 2026, Eriko Sakurai (桜井恵理子) was selected as Chair of the Board of Directors, Takaaki Nishii (西井孝明) as Chair of the Directors and Executive Officers Compensation Advisory Committee, and Sara Casanova (サラ・カサノバ) as Chair of the Directors and Audit & Supervisory Board Members Nomination Review Committee.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit & Supervisory Board |
| Number of directors | 9 directors, including 5 outside directors |
| Number of independent officers | 8 independent officers (5 independent outside directors and 3 independent outside Audit & Supervisory Board members) |
| Committee | Directors and Audit & Supervisory Board Members Nomination Review Committee: 6 of 6 outside members (100%); Directors and Executive Officers Compensation Advisory Committee: 5 of 5 outside members (approximately 83.3%); Audit & Supervisory Board Members Compensation Advisory Committee: 3 of 3 outside members (60%) |
| Policy on cross-shareholdings | The Company reviews the rationale for continuing to hold policy-oriented shares and the number of shares held. As of the end of December 2025, it held 40 issues, with a total balance-sheet carrying amount of ¥8,113 million. During fiscal 2025, the Company sold all shares of 1 listed issue, while 1 unlisted issue became listed. At the end of December 2014, it held 83 issues with a total carrying amount of ¥9,384 million. |
| Takeover defenses | Not adopted |
| Controlling shareholder | There is no major shareholder holding 10% or more of the Company’s shares |
| Changes this time | Following the conclusion of the General Meeting of Shareholders held on 26 March 2026, Eriko Sakurai (桜井恵理子) was selected as Chair of the Board of Directors, Takaaki Nishii (西井孝明) as Chair of the Directors and Executive Officers Compensation Advisory Committee, and Sara Casanova (サラ・カサノバ) as Chair of the Directors and Audit & Supervisory Board Members Nomination Review Committee. |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.This is a routine update to the Corporate Governance Report, disclosing each committee’s meeting record, matters deliberated, and the reasons for appointing officers.