Introduction of Directors and Officers Liability Insurance
First written in FY2022. 2 of 3 entries say "Restated". Latest entry: FY2026.
- FY2026RestatedAnnual report
「We have entered into a directors and officers liability insurance contract with an insurance company under Article 430-3, Paragraph 1 of the Companies Act. The insurance contract is intended to cover damages, litigation costs, and other losses incurred by insured persons as a result of claims for damages arising from acts, including omissions, carried out by them in the course of their duties as company officers.」
The company reiterated the directors and officers liability insurance policy and the exclusion from coverage of criminal acts and intentional unlawful acts committed by the officers themselves. - FY2023RestatedAnnual report
「We have entered into a directors and officers liability insurance contract with an insurance company under Article 430-3, Paragraph 1 of the Companies Act. The insurance contract is intended to cover damages, litigation costs, and other losses incurred by insured persons as a result of claims for damages arising from acts, including omissions, carried out by them in the course of their duties as company officers.」
The company reiterated the directors and officers liability insurance policy and the exclusion from coverage of criminal acts and intentional unlawful acts. - FY2022First statedAnnual report
「We have entered into a directors and officers liability insurance contract with an insurance company under Article 430-3, Paragraph 1 of the Companies Act. The insurance contract is intended to cover damages, litigation costs, and other losses incurred by insured persons as a result of claims for damages arising from acts, including omissions, carried out by them in the course of their duties as company officers.」
The company entered into an insurance policy covering damages and litigation costs incurred by directors and other officers, and disclosed for the first time that criminal acts such as bribery and intentional unlawful acts are excluded from coverage.