Governance structure
Company with an Audit and Supervisory CommitteeA provision will be added stipulating that the terms of office of Directors who are not Audit and Supervisory Committee Members, when additional Directors are appointed or substitute Directors are elected, will run until the expiration of the terms of office of the other incumbent Directors. The provisions governing the terms of office of Directors who are Audit and Supervisory Committee Members will also be revised in line with applicable laws and regulations. The provision concerning the shortening of the terms of office of Audit and Supervisory Committee Members when the number of Directors is increased will be deleted, and the term of office of a Director elected as a substitute Audit and Supervisory Committee Member will be set to run until the expiration of the term of office of the Director whose position became vacant.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Changes this time | A provision will be added stipulating that the terms of office of Directors who are not Audit and Supervisory Committee Members, when additional Directors are appointed or substitute Directors are elected, will run until the expiration of the terms of office of the other incumbent Directors. The provisions governing the terms of office of Directors who are Audit and Supervisory Committee Members will also be revised in line with applicable laws and regulations. The provision concerning the shortening of the terms of office of Audit and Supervisory Committee Members when the number of Directors is increased will be deleted, and the term of office of a Director elected as a substitute Audit and Supervisory Committee Member will be set to run until the expiration of the term of office of the Director whose position became vacant. |
Items this document does not state (6)
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.Following the transition to a Company with an Audit and Supervisory Committee, the Companies Act does not permit the Company to shorten the terms of office of Directors who are Audit and Supervisory Committee Members through provisions in the Articles of Incorporation. The provisions will therefore be revised to fully comply with the Companies Act. In addition, the provisions will clarify that the terms of office of Directors who are not Audit and Supervisory Committee Members, when additional Directors are appointed or substitute Directors are elected, will be aligned with those of the other incumbent Directors.