Independence Standards and Oversight Functions of Outside Directors
First written in FY2017. 1 of 2 entries say "Restated". Latest entry: FY2023.
29 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The Company considers an outside director not to be independent if any of the following applies. … A major customer is defined as one whose transaction value exceeds 2% of the consolidated net sales of the Company's group or the relevant consolidated corporate group in its most recent fiscal year.」
The Company continues to disclose independence criteria including 10- and 5-year lookback periods and a 2% transaction-value threshold, positioning outside directors to provide independent oversight. - FY2017First statedAnnual report
「The Company considers an outside director not to be independent if any of the following applies. 1. The individual is or was, within the past 10 years, an executive director, executive officer, or employee responsible for business execution at the Company or one of its subsidiaries … 2. The individual is or was, within the past 5 years, an executive responsible for business execution at a consolidated corporate group for which the Company's group is a major customer, or at a consolidated corporate group that is a major customer of the Company's group. A major customer is defined as one whose transaction value exceeds 2% of the consolidated net sales of the Company's group or the relevant consolidated corporate group in its most recent fiscal year.」
The Company has disclosed specific independence criteria for outside directors, including lookback periods of 10 and 5 years and a 2% transaction-value threshold, establishing a framework to ensure independent oversight.