Directors and Officers Liability Insurance
First written in FY2021. 2 of 3 entries say "Restated". Latest entry: FY2023.
- FY2023RestatedAnnual report
「We have entered into a directors and officers liability insurance contract with an insurance company as stipulated in Article 430-3, Paragraph 1 of the Companies Act, under which all of our directors are insured persons.」
We continue to maintain a directors and officers liability insurance contract covering all directors and a framework providing coverage for damages, legal fees and other costs. - FY2022RestatedAnnual report
「We have entered into a directors and officers liability insurance contract with an insurance company as stipulated in Article 430-3, Paragraph 1 of the Companies Act, under which all of our directors are insured persons.」
We continue to maintain a directors and officers liability insurance contract covering all directors and a framework providing coverage for damages, legal fees and other costs. - FY2021First statedAnnual report
「We have entered into a directors and officers liability insurance contract with an insurance company as stipulated in Article 430-3, Paragraph 1 of the Companies Act, under which all of our directors are insured persons. Under this insurance contract, damages, legal fees and other costs incurred by insured persons are covered when claims for damages are made as a result of acts, including omissions, carried out by insured persons in their capacity as officers or other positions at the company. We bear the full cost of the insurance premiums. We plan to renew the insurance contract with the same coverage when it next comes up for renewal.」
It newly discloses a framework under which a directors and officers liability insurance contract covering all directors provides coverage for damages, legal fees and other costs.