Governance structure
Company with an Audit and Supervisory CommitteeThe company revamped its officer structure and established a board comprising 8 directors in total. It reconstituted the Nomination and Compensation Committee solely from independent outside directors and changed the chair of the Board of Directors to an outside director. It reorganized the head office into three core divisions: the Administration Headquarters, Business Management Division and Internal Audit Office, and advanced improvement measures covering the distribution of authority, subsidiary management and board operations. The development and operation of management systems at certain subsidiaries remain incomplete.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Number of directors | 8 directors in total, including Not disclosed outside directors |
| Committee | Nomination and Compensation Committee (composed solely of independent outside directors) and Audit & Supervisory Committee. Proportion of outside committee members: Not disclosed |
| Changes this time | The company revamped its officer structure and established a board comprising 8 directors in total. It reconstituted the Nomination and Compensation Committee solely from independent outside directors and changed the chair of the Board of Directors to an outside director. It reorganized the head office into three core divisions: the Administration Headquarters, Business Management Division and Internal Audit Office, and advanced improvement measures covering the distribution of authority, subsidiary management and board operations. The development and operation of management systems at certain subsidiaries remain incomplete. |
Items this document does not state (4)
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.One year had passed since the company was designated as a Security under Special Alert, and it had submitted an Internal Management System Confirmation Report to the Tokyo Stock Exchange. The company explained that delays in some improvement measures arose because it had prioritized gaining a detailed understanding of past matters, addressing delays in procedures for selling subsidiaries, and rebuilding the control foundation and infrastructure for the entire group, including subsidiaries that will be retained.