Governance structure
Company with three committees (changed from a company with an Audit & Supervisory Board effective 19 June 2026)When 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.
Each year, individual holdings are reviewed from both quantitative and qualitative perspectives, and shares are generally sold when no rationale for holding them is identified. During fiscal 2025, the number of holdings other than unlisted shares decreased by 4 issues. As of the end of March 2026, the company held 38 issues, with a total balance sheet carrying amount of ¥137,120 million.
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.
Upon approval at the 102nd Annual General Meeting of Shareholders held on 19 June 2026, the company changed from a company with an Audit & Supervisory Board to a company with three committees. Descriptions concerning the Audit & Supervisory Board and Audit & Supervisory Board members have been retained as initiatives undertaken before the transition, and following the transition are read as referring to the Audit Committee and directors serving as Audit Committee members, respectively.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with three committees (changed from a company with an Audit & Supervisory Board effective 19 June 2026) |
| Number of directors | 15, including 10 Outside Directors |
| Number of independent officers | 10 (all 10 outside directors meet the independence criteria) |
| Committee | Nomination Committee, Audit Committee and Compensation Committee. A majority of the members of each committee are independent outside directors, and each committee is chaired by an independent outside director. |
| Policy on cross-shareholdings | Each year, individual holdings are reviewed from both quantitative and qualitative perspectives, and shares are generally sold when no rationale for holding them is identified. During fiscal 2025, the number of holdings other than unlisted shares decreased by 4 issues. As of the end of March 2026, the company held 38 issues, with a total balance sheet carrying amount of ¥137,120 million. |
| Takeover defenses | Not adopted |
| Controlling shareholder | No controlling shareholder |
| Changes this time | Upon approval at the 102nd Annual General Meeting of Shareholders held on 19 June 2026, the company changed from a company with an Audit & Supervisory Board to a company with three committees. Descriptions concerning the Audit & Supervisory Board and Audit & Supervisory Board members have been retained as initiatives undertaken before the transition, and following the transition are read as referring to the Audit Committee and directors serving as Audit Committee members, respectively. |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To establish a corporate governance structure with greater objectivity and transparency from the perspective of stakeholders, including shareholders and investors.