Decision and Details
Board of DirectorsCorrections to the 2 April 2024 release titled “Formulation of the Second Medium-Term Management Plan and Initiatives to Realize Management Conscious of Capital Costs and Share Prices” and the 21 May 2025 release titled “Notice Regarding the Opinion of the Company's Board of Directors on the Shareholder Proposal from Global ESG Strategy”
The Special Investigation Committee's investigation report clarified the then-management's understanding of the feasibility of the medium-term management plan and the incorporation of synergies with Bourns into the plan. In addition, certain parts of the opposition statement were assessed as factually inaccurate or inappropriate in a way that could mislead general shareholders.
| Item | Details |
|---|---|
| Matter Covered | Corrections to the 2 April 2024 release titled “Formulation of the Second Medium-Term Management Plan and Initiatives to Realize Management Conscious of Capital Costs and Share Prices” and the 21 May 2025 release titled “Notice Regarding the Opinion of the Company's Board of Directors on the Shareholder Proposal from Global ESG Strategy” |
| Decision-Making Body | Board of Directors |
| Decision Date | 23 June 2026 (at the Board of Directors meeting held today) |
| Implementation Date | 23 June 2026 (corrections publicly disclosed and implemented) |
| Period Covered | The planning period of the Second Medium-Term Management Plan (2024–2026, including numerical targets for fiscal 2029 as stated) and the opposition statement release dated 21 May 2025 |
| Quantity / scale | Among the numerical targets in the Second Medium-Term Management Plan, the targets for net sales of ¥10.5 billion and ¥13.5 billion, operating profit margins of 10% and 12%, and ROA of 9% and 11%, among others, have been removed. The DOE targets of 3.5% and 4.5% and the dividend payout ratio targets of approximately 40% and approximately 45% remain. |
| Reason | The Special Investigation Committee's investigation report clarified the then-management's understanding of the feasibility of the medium-term management plan and the incorporation of synergies with Bourns into the plan. In addition, certain parts of the opposition statement were assessed as factually inaccurate or inappropriate in a way that could mislead general shareholders. |
| Related previous disclosures | The 2 April 2024 release titled “Formulation of the Second Medium-Term Management Plan and Initiatives to Realize Management Conscious of Capital Costs and Share Prices”; the 21 May 2025 release titled “Notice Regarding the Opinion of the Company's Board of Directors on the Shareholder Proposal from Global ESG Strategy”; the 4 December 2025 release titled “Notice Regarding Publication of the Special Investigation Committee's Investigation Report”; the 10 November 2025 release titled “Formulation of a New Medium-Term Management Plan”; and the 10 June 2025 release titled “Notice Regarding the Company's Statement of Support for and Recommendation to Tender Shares in the Planned Commencement of a Tender Offer for the Company's Shares by Bourns Japan Holdings LLC” |
| Future plans | For the current medium-term management plan, refer to the 10 November 2025 release titled “Formulation of a New Medium-Term Management Plan”. |
Items this document does not state (3)
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 Special Investigation Committee's investigation report clarified the then-management's understanding of the feasibility of the medium-term management plan and that synergies with Bourns had been incorporated into the plan. In addition, certain parts of the opposition statement were assessed as factually inaccurate or inappropriate in a way that could mislead general shareholders.