Introduction of Directors and Officers Liability Insurance Contracts
First written in FY2021. 1 of 2 entries say "Restated". Latest entry: FY2022.
- FY2022RestatedAnnual report
「We have entered into an officers' and directors' liability insurance contract with an insurance company as prescribed in Article 430-3, Paragraph 1 of the Companies Act. If shareholders or third parties bring claims for damages, the insurance contract will cover losses including damages and legal costs that the insured would otherwise be required to bear.」
The mechanism by which the officers' and directors' liability insurance contract covers certain damages, legal costs and other expenses is reaffirmed. - FY2021First statedAnnual report
「We have entered into an officers' and directors' liability insurance contract with an insurance company as prescribed in Article 430-3, Paragraph 1 of the Companies Act. If shareholders or third parties bring claims for damages, the insurance contract will cover losses including damages and litigation costs that the insured would otherwise be required to bear.」
An officers' and directors' liability insurance contract covering directors, audit & supervisory board members, executive officers and managerial employees as insured persons is disclosed for the first time.