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 cross-shareholdings 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, it sold all shares of 1 listed issue. As of the end of December 2014, it held 83 issues with a carrying amount of ¥9,384 million.
Policy regarding shares of other companies held to maintain business relationships and for other purposes.
Not adopted (the applicable item is disclosed in the Code Implementation Status Table)
Pre-agreed countermeasures in preparation for an unsolicited takeover attempt.
Following the General Meeting of Shareholders held on 26 March 2026, Sakurai Eriko (桜井恵理子) was selected as chair of the Board of Directors, Nishii Takaaki (西井孝明) as chair of the Director and Executive Officer Compensation Advisory Committee, and Sarah Casanova (サラ・カサノバ) as chair of the Director and Audit & Supervisory Board Member Nomination Review Committee. Among the Audit & Supervisory Board members, Amano Hideki (天野秀樹) retired, Arai Saeko (新井佐恵子) became the succeeding chair, and Naito Junya (内藤順也) took office.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit & Supervisory Board |
| Number of directors | 9 directors in total, including 5 outside directors |
| Number of independent officers | 8 independent officers (5 independent outside directors and 3 independent outside Audit & Supervisory Board members) |
| Committee | Director and Audit & Supervisory Board Member Nomination Review Committee (6 of 6 members are outside members; outside-member ratio: 100%), Director and Executive Officer Compensation Advisory Committee (5 of 6 members are outside members; outside-member ratio: 83.3%), Audit & Supervisory Board Member Compensation Advisory Committee (3 of 5 members are outside members; outside-member ratio: 60%), Sustainability Committee, and others |
| Policy on cross-shareholdings | The company reviews the rationale for continuing to hold cross-shareholdings 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, it sold all shares of 1 listed issue. As of the end of December 2014, it held 83 issues with a carrying amount of ¥9,384 million. |
| Takeover defenses | Not adopted (the applicable item is disclosed in the Code Implementation Status Table) |
| Controlling shareholder | There is no major shareholder holding 10% or more of the company's shares |
| Changes this time | Following the General Meeting of Shareholders held on 26 March 2026, Sakurai Eriko (桜井恵理子) was selected as chair of the Board of Directors, Nishii Takaaki (西井孝明) as chair of the Director and Executive Officer Compensation Advisory Committee, and Sarah Casanova (サラ・カサノバ) as chair of the Director and Audit & Supervisory Board Member Nomination Review Committee. Among the Audit & Supervisory Board members, Amano Hideki (天野秀樹) retired, Arai Saeko (新井佐恵子) became the succeeding chair, and Naito Junya (内藤順也) took office. |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.As part of its regular update of corporate governance information, the company discloses the election of directors and Audit & Supervisory Board members, committee activities, the rationale for maintaining cross-shareholdings, and the results of its review of the number of shares held. The company states that it reviewed the rationale for continuing to hold the shares and the number of shares held.