Governance structure
approximately 16.65% ownership) and ITOCHU MARUBENI IRON & STEEL INC. (approximately 15.41% ownership) are listed as major shareholders.
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.
Directors Miyake (三宅) and Kakegawa (掛川) are scheduled to leave office upon expiration of their terms. Ogura (小椋) and Yamazaki (山﨑) are scheduled to be elected as directors. Ogura (小椋) and Yamazaki (山﨑) are listed as new appointees.
| Item | Details |
|---|---|
| Number of directors | Stated as 6 directors, all of whom are outside directors, but it is unclear whether this refers to the total number of directors or the number of persons covered by the notification. |
| Number of independent officers | 4 |
| Controlling shareholder | No controlling shareholder is listed. Kobe Steel,Ltd. (approximately 16.65% ownership) and ITOCHU MARUBENI IRON & STEEL INC. (approximately 15.41% ownership) are listed as major shareholders. |
| Changes this time | Directors Miyake (三宅) and Kakegawa (掛川) are scheduled to leave office upon expiration of their terms. Ogura (小椋) and Yamazaki (山﨑) are scheduled to be elected as directors. Ogura (小椋) and Yamazaki (山﨑) are listed as new appointees. |
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.The form has been submitted because directors Miyake (三宅) and Kakegawa (掛川) are scheduled to leave office upon expiration of their terms, and Ogura (小椋) and Yamazaki (山﨑) are scheduled to be elected as directors. The submission is made on the assumption that their election will be approved at the shareholders’ meeting.