Introduction of Directors and Officers Liability Insurance
First written in FY2023. 1 of 2 entries say "Restated". Latest entry: FY2026.
- FY2026RestatedAnnual report
「The company has entered into with an insurance company a directors and officers liability insurance contract as prescribed in Article 430-3, Paragraph 1 of the Companies Act, covering the company's directors as insured persons. Under the insurance contract, the company will indemnify losses arising from legal damages and litigation costs incurred by the insured persons, and the company bears the entire insurance premium.」
The company reconfirms the directors and officers liability insurance contract covering its directors, the company's payment of the full insurance premium and certain exclusions. - FY2023First statedAnnual report
「The company has entered into with an insurance company a directors and officers liability insurance contract as prescribed in Article 430-3, Paragraph 1 of the Companies Act, covering the company's directors as insured persons. Under the insurance contract, the company will indemnify losses arising from legal damages and litigation costs incurred by the insured persons, and the company bears the entire insurance premium. However, certain exclusions apply, including cases in which an insured person acted with knowledge that the conduct violated laws or regulations, in order to ensure that the proper performance of the insured person's duties is not impaired. The company plans to renew the contract on the same terms at the next renewal.」
The company has disclosed for the first time the terms of the directors and officers liability insurance contract covering its directors, the company's payment of the full insurance premium, certain exclusions and the planned renewal.