Governance structure
Company with an Audit & Supervisory Board (the organisational structure field in the report states “Company with Statutory Auditors,” but the report explicitly states that an Audit & Supervisory Board has been established)When 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 holds shares that it determines will contribute to medium- to long-term growth, including shares necessary for its business and for maintaining financial relationships, and reviews all holdings once a year at a meeting of the Board of Directors. The policy is to reduce holdings that lack rational justification. In 2025, holdings in 4 companies were reduced.
Policy regarding shares of other companies held to maintain business relationships and for other purposes.
Implemented and updated (the company disclosed the update to its policy for responding to acquisitions)
Pre-agreed countermeasures in preparation for an unsolicited takeover attempt.
The report does not specify any particular changes from the previous report. It states that holdings in 4 companies were reduced in 2025 and that the policy for responding to acquisitions was updated in February 2026.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit & Supervisory Board (the organisational structure field in the report states “Company with Statutory Auditors,” but the report explicitly states that an Audit & Supervisory Board has been established) |
| Number of directors | 5 directors in total, including 3 outside directors |
| Number of independent officers | 5 (3 outside directors and 2 outside Audit & Supervisory Board members) |
| Committee | Advisory Committee (equivalent to a Nomination Committee): 3 outside directors out of 4 members, with outside members accounting for 75%. Advisory Committee (equivalent to a Compensation Committee): 3 outside directors out of 4 members, with outside members accounting for 75%. In addition, the company has established an Ethics and Legal Compliance Committee, Crisis Management Committee, Central Safety and Health Committee, Export Control Committee, Environmental Management Committee, and Committee for Measures Against Special Organized Violence. |
| Policy on cross-shareholdings | The company holds shares that it determines will contribute to medium- to long-term growth, including shares necessary for its business and for maintaining financial relationships, and reviews all holdings once a year at a meeting of the Board of Directors. The policy is to reduce holdings that lack rational justification. In 2025, holdings in 4 companies were reduced. |
| Takeover defenses | Implemented and updated (the company disclosed the update to its policy for responding to acquisitions) |
| Controlling shareholder | No controlling shareholder. No parent company. |
| Changes this time | The report does not specify any particular changes from the previous report. It states that holdings in 4 companies were reduced in 2025 and that the policy for responding to acquisitions was updated in February 2026. |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To ensure transparency and fairness in decision-making and enhance management vitality through swift and decisive decision-making, thereby supporting sustainable growth and the long-term enhancement of corporate value.