Governance structure
The Company plans to reduce its strategic shareholdings. The results of reductions in the number and value of holdings are Not disclosed
Policy regarding shares of other companies held to maintain business relationships and for other purposes.
In place and continuing (opposed to the proposal to abolish them)
Pre-agreed countermeasures in preparation for an unsolicited takeover attempt.
In the medium-term management plan announced on 8 May 2026, the Company announced a new dividend policy providing for a minimum dividend of ¥30 per share, as well as a policy of implementing share repurchases flexibly as needed. On this occasion, the Company resolved to oppose all 4 shareholder proposals.
| Item | Details |
|---|---|
| Committee | Nomination and Compensation Advisory Committee: A majority of its members are independent outside directors, and the chair is also an independent outside director. However, the exact proportion of outside members is Not disclosed |
| Policy on cross-shareholdings | The Company plans to reduce its strategic shareholdings. The results of reductions in the number and value of holdings are Not disclosed |
| Takeover defenses | In place and continuing (opposed to the proposal to abolish them) |
| Changes this time | In the medium-term management plan announced on 8 May 2026, the Company announced a new dividend policy providing for a minimum dividend of ¥30 per share, as well as a policy of implementing share repurchases flexibly as needed. On this occasion, the Company resolved to oppose all 4 shareholder proposals. |
Items this document does not state (4)
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.The takeover defense measures are necessary to ensure that shareholders have sufficient information and time for consideration when making decisions, thereby protecting corporate value and the common interests of shareholders. Their fairness is also ensured through mechanisms including a special committee and a general meeting to confirm shareholder intent. Individual disclosure of compensation is unnecessary because the existing compensation determination process and disclosures required under applicable laws and regulations are sufficient. Dividends and share repurchases must be balanced with investments for growth, maintenance of the business base, and ensuring financial soundness. Deciding in advance to pay dividends at a high level or to acquire a fixed amount of treasury shares could therefore impair corporate value over the medium to long term.