Governance structure
Company with Three Statutory CommitteesWhen 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 company holds listed shares that it determines will contribute to enhancing corporate value after verifying their medium- to long-term economic rationale and future prospects. Each year, it reviews the purpose, benefits and risks of holding each individual issue and progressively reduces holdings that are deemed unsuitable for continued ownership. As of the end of March 2026, it held 7 issues valued at ¥2.6 billion.
Policy regarding shares of other companies held to maintain business relationships and for other purposes.
Not adopted
Pre-agreed countermeasures in preparation for an unsolicited takeover attempt.
Jean-Luc Butel (ジャン＝リュック・ブテル) and Costa Saroukos (コスタ・サルウコス) were newly elected as outside directors. Since June 2025, the Compensation Committee has comprised 3 independent outside directors.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with Three Statutory Committees |
| Number of directors | 11 directors in total, including 10 outside directors |
| Number of independent officers | 10 |
| Committee | Nomination Committee (3 members, 100% outside members), Compensation Committee (3 members, 100% outside members), Audit Committee (4 members, 100% outside members), Innovation & Safety (I&S) Committee (outside-member ratio: not disclosed) |
| Policy on cross-shareholdings | The company holds listed shares that it determines will contribute to enhancing corporate value after verifying their medium- to long-term economic rationale and future prospects. Each year, it reviews the purpose, benefits and risks of holding each individual issue and progressively reduces holdings that are deemed unsuitable for continued ownership. As of the end of March 2026, it held 7 issues valued at ¥2.6 billion. |
| Takeover defenses | Not adopted |
| Controlling shareholder | No controlling shareholder or parent company |
| Changes this time | Jean-Luc Butel (ジャン＝リュック・ブテル) and Costa Saroukos (コスタ・サルウコス) were newly elected as outside directors. Since June 2025, the Compensation Committee has comprised 3 independent outside directors. |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To strengthen the Board of Directors’ oversight and decision-making functions and have the directors contribute to sustainable growth and the enhancement of corporate value over the medium to long term.