Governance structure
Company with an Audit & Supervisory BoardWhen 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.
Has implemented or plans to implement improvement measures, including the appointment of a new outside director and a new outside corporate auditor, the additional appointment of a new outside corporate auditor, and the establishment of a Risk and Compliance Committee
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit & Supervisory Board |
| Committee | Established a Risk and Compliance Committee. Proportion of outside members: Not disclosed |
| Controlling shareholder | Transactions with the controlling shareholder and parent company are mentioned, but the names of the controlling shareholder and parent company and their voting-rights ratios are Not disclosed |
| Changes this time | Has implemented or plans to implement improvement measures, including the appointment of a new outside director and a new outside corporate auditor, the additional appointment of a new outside corporate auditor, and the establishment of a Risk and Compliance Committee |
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.Inappropriate accounting treatment of cash-back expenses at a subsidiary, overstatement of revenue in agency settlements, corrections to prior-year financial statements, governance dysfunction, and the failure to complete improvement measures by fiscal year-end.