Governance structure
Company with an Audit & Supervisory BoardWhen one company holds most of the voting rights, its wishes are more likely to prevail in management. How the interests of minority shareholders are protected is a key issue.
This is the number of people reported to the exchange as independent officers. Whether someone is an outside officer and whether they qualify as independent are separate determinations.
The policy is to hold cross-shareholdings when necessary to enhance corporate value over the medium to long term, and to reduce such holdings when they are no longer necessary. The number of holdings and their value are Not disclosed
Policy regarding shares of other companies held to maintain business relationships and for other purposes.
No
Pre-agreed countermeasures in preparation for an unsolicited takeover attempt.
From 26 June 2026, the outside Audit & Supervisory Board member changed from Mizusawa Hirotoshi (水澤博敏) to Kato Shigeharu (加藤重治). Kato Shigeharu (加藤重治) was newly elected as an outside Audit & Supervisory Board member and designated as an independent officer. The evaluation of the effectiveness of the Board of Directors was changed to an anonymous questionnaire-based approach using an external third-party organization.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit & Supervisory Board |
| Number of directors | 9 directors in total, including 3 outside directors |
| Number of independent officers | 4 |
| Committee | Voluntary nomination and compensation committees. Independent outside directors constitute a majority of the members of both committees, and the chair of each committee is an independent outside director. The specific proportion of outside members is Not disclosed |
| Policy on cross-shareholdings | The policy is to hold cross-shareholdings when necessary to enhance corporate value over the medium to long term, and to reduce such holdings when they are no longer necessary. The number of holdings and their value are Not disclosed |
| Takeover defenses | No |
| Controlling shareholder | No controlling shareholder or parent company |
| Changes this time | From 26 June 2026, the outside Audit & Supervisory Board member changed from Mizusawa Hirotoshi (水澤博敏) to Kato Shigeharu (加藤重治). Kato Shigeharu (加藤重治) was newly elected as an outside Audit & Supervisory Board member and designated as an independent officer. The evaluation of the effectiveness of the Board of Directors was changed to an anonymous questionnaire-based approach using an external third-party organization. |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.At the 104th Annual General Meeting of Shareholders held on 26 June 2026, proposals to elect 4 directors and 1 Audit & Supervisory Board member were approved. In addition, an external third-party organization was used for the evaluation of the effectiveness of the Board of Directors to improve the objectivity and effectiveness of the evaluation.