Governance structure
Company with an Audit and Supervisory CommitteeWhen 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.
The company holds policy-oriented shares only where there is a reasonable basis that they contribute to its sustainable growth and the enhancement of corporate value over the medium to long term. Where such shares are held, the company establishes voting guidelines following deliberation by the Board of Directors. Reduction in the number and value of holdings: Not disclosed.
Policy regarding shares of other companies held to maintain business relationships and for other purposes.
Not implemented (not a renewal or discontinuation)
Pre-agreed countermeasures in preparation for an unsolicited takeover attempt.
The guidelines were revised on 22 July 2026. The special bonus linked to medium-term management targets was discontinued prospectively, and the details of the annual bonus and restricted stock compensation were established. Transitional measures will apply to fixed compensation beginning in August 2026, bonuses payable through around June 2027, and stock compensation granted in September 2026.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Committee | Nomination and Compensation Committee (a majority are independent outside directors; the chair is an outside director), Audit and Supervisory Committee (a majority are independent outside directors), Compliance Committee (proportion of outside members: Not disclosed) |
| Policy on cross-shareholdings | The company holds policy-oriented shares only where there is a reasonable basis that they contribute to its sustainable growth and the enhancement of corporate value over the medium to long term. Where such shares are held, the company establishes voting guidelines following deliberation by the Board of Directors. Reduction in the number and value of holdings: Not disclosed. |
| Takeover defenses | Not implemented (not a renewal or discontinuation) |
| Controlling shareholder | Statement that there is no controlling shareholder or parent company: Not disclosed |
| Changes this time | The guidelines were revised on 22 July 2026. The special bonus linked to medium-term management targets was discontinued prospectively, and the details of the annual bonus and restricted stock compensation were established. Transitional measures will apply to fixed compensation beginning in August 2026, bonuses payable through around June 2027, and stock compensation granted in September 2026. |
Items this document does not state (2)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To review the incentive framework for achieving medium- to long-term targets. The annual bonus is intended to achieve short-term targets and link compensation to shareholder value, while restricted stock compensation is intended to enhance corporate value.