Addressing Director and Officer Liability Risks Through Directors and Officers Liability Insurance
First written in FY2021. 1 of 3 entries say "Restated". Latest entry: FY2023.
- FY2023Change to full company payment of insurance premiumsAnnual report
「The company bears all insurance premiums.」
The disclosure changed from stating that directors and audit & supervisory board members bore approximately 10% of the total insurance premiums themselves to stating that the company would bear all insurance premiums in the current fiscal year. - FY2022RestatedAnnual report
「The directors and audit & supervisory board members who are insured persons bear approximately 10% of the total insurance premiums themselves.」
The company continues the arrangement under which its directors and officers liability insurance covers damages, litigation costs and other expenses, while directors and audit & supervisory board members bear approximately 10% of the total insurance premiums themselves. - FY2021First statedAnnual report
「The company has entered into a directors and officers liability insurance policy as provided for in Article 430-3, Paragraph 1 of the Companies Act. The policy generally covers damages, including damages payable and litigation costs, incurred by insured persons if claims for damages are brought by shareholders or third parties. However, certain exclusions apply, including cases in which the insured person was aware that the conduct violated laws or regulations. Directors and audit & supervisory board members who are insured persons bear approximately 10% of the total insurance premiums themselves.」
The company has entered into a directors and officers liability insurance policy covering claims for damages and other claims from shareholders and third parties for directors, executive officers and others. Directors and audit & supervisory board members bear approximately 10% of the total insurance premiums themselves.