Governance structure
The Board of Directors resolved to oppose both the shareholder proposal concerning the election of 1 director and the proposal to amend the Articles of Incorporation regarding management focused on the cost of capital and share price. Certain parts of the shareholder proposals were withdrawn.
| Item | Details |
|---|---|
| Committee | Nomination and Compensation Advisory Committee (a majority of whose members are independent outside directors) |
| Changes this time | The Board of Directors resolved to oppose both the shareholder proposal concerning the election of 1 director and the proposal to amend the Articles of Incorporation regarding management focused on the cost of capital and share price. Certain parts of the shareholder proposals were withdrawn. |
Items this document does not state (6)
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.For the proposal concerning the election of a director, the Board determined that it would be more appropriate to elect a company-nominated candidate with expertise in capital markets, disclosure regulations and corporate governance, while ensuring continuity of management under the incumbent directors. For the proposal concerning amendments to the Articles of Incorporation, specifying particular disclosure requirements and initiatives in the Articles could impair management agility, flexibility and effectiveness. The Company is already pursuing concrete and proactive initiatives focused on the cost of capital and share price.