Addressing Management Liability Risk Through Directors and Officers Liability Insurance
First written in FY2021. 1 of 2 entries say "Restated". Latest entry: FY2022.
20 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「The company entered into a directors' and officers' liability insurance contract with an insurance company as prescribed in Article 430-3, paragraph 1 of the Companies Act. The contract covers legally payable damages and litigation costs that insured persons may incur. However, damages incurred personally by officers as a result of criminal acts such as bribery or intentionally unlawful acts are excluded from coverage, ensuring that the proper performance of their duties is not compromised.」
The company reconfirms its use of directors' and officers' liability insurance to cover damages and litigation costs, together with its policy of excluding criminal acts and similar matters from coverage. - FY2021First statedAnnual report
「The company entered into a directors' and officers' liability insurance contract with an insurance company as prescribed in Article 430-3, paragraph 1 of the Companies Act. The contract covers legally payable damages and litigation costs that insured persons may incur.」
The company states for the first time that it has entered into directors' and officers' liability insurance covering directors and executive officers, while excluding criminal acts, intentional unlawful acts and similar matters from coverage.