Strengthening Oversight Functions and Decision-Making Through the Transition to a Company with an Audit and Supervisory Committee

「The Board of Directors consists of 4 internal directors, including 3 executive directors and 1 director who is an Audit and Supervisory Committee member, and 4 outside directors, including 3 directors who are Audit and Supervisory Committee members. All 4 outside directors are independent outside directors.」

「The Board of Directors consists of 4 internal directors and 4 outside directors, all 4 outside directors being independent outside directors.」

「The Board of Directors consists of 7 members: 3 directors responsible for business execution and 4 directors who are Audit and Supervisory Committee members, 3 of whom are independent outside directors.」

「The Board of Directors consists of 8 members: 4 directors responsible for business execution and 4 directors who are Audit and Supervisory Committee members, including 3 outside directors. The Board meets at least once a month to receive reports on results and financial conditions and deliberate and pass resolutions on important management matters.」

「Based on a resolution at the 25th Annual General Meeting of Shareholders held on 27 September 2016, the company changed to a company with an Audit and Supervisory Committee.」

「We believe that transitioning to a company with an Audit and Supervisory Committee will enable us to improve management transparency and fairness by strengthening the Board of Directors' oversight through directors who are Audit and Supervisory Committee members having voting rights at Board meetings. We also believe that the transition will improve management agility and efficiency by accelerating decision-making and business execution through the delegation of authority over business execution to directors under appropriate oversight by the Board of Directors.」