Preparing for Directors’ and Officers’ Liability Risks through D&O Insurance
First written in FY2021. 2 of 4 entries say "Restated". Latest entry: FY2026.
- FY2026RestatedAnnual report
「The Company has entered into an officers and directors liability insurance agreement with an insurance company as prescribed in Article 430-3, Paragraph 1 of the Companies Act. Under the policy, the Company will cover damages, litigation expenses and other costs incurred by insured persons as a result of claims for damages arising from acts, including omissions, carried out in the course of their duties as company officers. The Company bears 100% of the insurance premiums.」
The framework under which the officers and directors liability insurance covers damages, litigation expenses and other costs, and the arrangement under which the Company bears 100% of the insurance premiums, remain in place. - FY2025Company coverage of officers and directors liability insurance premiums increased to 100%.Annual report
「The Company has entered into an officers and directors liability insurance agreement with an insurance company as prescribed in Article 430-3, Paragraph 1 of the Companies Act. Under the policy, the Company will cover damages, litigation expenses and other costs incurred by insured persons as a result of claims for damages arising from acts, including omissions, carried out in the course of their duties as company officers. The Company bears 100% of the insurance premiums.」
The framework under which the officers and directors liability insurance covers damages, litigation expenses and other costs remains in place. The Company's share of the insurance premiums has changed from 90% as previously disclosed to 100%. - FY2022RestatedAnnual report
「The Company has entered into an officers and directors liability insurance agreement with an insurance company as prescribed in Article 430-3, Paragraph 1 of the Companies Act. Under the policy, the Company will cover damages, litigation expenses and other costs incurred by insured persons as a result of claims for damages arising from acts, including omissions, carried out in the course of their duties as company officers. The Company bears 90% of the insurance premiums.」
The framework under which the officers and directors liability insurance covers damages, litigation expenses and other costs remains in place, and the Company bears 90% of the insurance premiums. - FY2021First statedAnnual report
「The Company has entered into an officers and directors liability insurance agreement with an insurance company as prescribed in Article 430-3, Paragraph 1 of the Companies Act. Under the policy, the Company will cover damages, litigation expenses and other costs incurred by insured persons as a result of claims for damages arising from acts, including omissions, carried out in the course of their duties as company officers. The Company bears 90% of the insurance premiums. Measures have been taken to ensure that the proper execution of duties by officers and others is not compromised by excluding from coverage losses incurred by officers themselves as a result of criminal acts, such as bribery, or intentional unlawful conduct.」
The Company has a framework under which the officers and directors liability insurance covers damages, litigation expenses and other costs. The Company bears 90% of the insurance premiums, while criminal acts and intentional unlawful conduct are excluded from coverage.