Governance structure
Company with an Audit and Supervisory CommitteeA provision concerning shareholders meetings held without a designated venue will be added as Article 11 of the Articles of Incorporation. The maximum number of directors who are not Audit and Supervisory Committee Members will be changed from no more than 7 to no more than 10. The end of the validity period for resolutions electing alternate Audit and Supervisory Committee Members will be changed from the close of the annual shareholders meeting to the start of the annual shareholders meeting.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Number of directors | No more than 10 directors who are not Audit and Supervisory Committee Members and no more than 5 directors who are Audit and Supervisory Committee Members (currently, no more than 7 and 5, respectively) |
| Changes this time | A provision concerning shareholders meetings held without a designated venue will be added as Article 11 of the Articles of Incorporation. The maximum number of directors who are not Audit and Supervisory Committee Members will be changed from no more than 7 to no more than 10. The end of the validity period for resolutions electing alternate Audit and Supervisory Committee Members will be changed from the close of the annual shareholders meeting to the start of the annual shareholders meeting. |
Items this document does not state (5)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To expand the options for the format of shareholders meetings in light of the ongoing digitalization of society as a whole. As requirements for internal controls, compliance, information disclosure and group management have increased, to make the supervisory function more effective and facilitate the formation of an appropriate board comprising outside, independent and suitably qualified directors. To align the validity period of advance election resolutions for alternate officers with the provisions of the Ordinance for Enforcement of the Companies Act.