Transition to a company with an Audit & Supervisory Committee and stronger oversight
First written in FY2019. 2 of 3 entries say "Restated". Latest entry: FY2021.
- FY2021RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 22 June 2018, amendments to the Articles of Incorporation providing for a transition to a company with an Audit and Supervisory Committee were approved. Accordingly, the Company changed from a company with a Board of Corporate Auditors to a company with an Audit and Supervisory Committee effective that date.」
The Company continues to transition to a company with an Audit and Supervisory Committee, strengthen its audit and oversight functions, and delegate authority to executive directors. - FY2021-Q3RestatedAnnual report
「If the purchaser complies with the procedures set out in this plan, the Company’s Board of Directors will, in principle, not implement countermeasures. If the purchaser fails to comply with those procedures, however, the Company will implement countermeasures subject to the approval of all outside directors among the Company’s Audit and Supervisory Committee members.」
The Company has reiterated, in its explanation of the takeover defense measures, that the approval of all outside directors who are Audit and Supervisory Committee members is a condition for implementing countermeasures. - FY2019First statedAnnual report
「At the Annual General Meeting of Shareholders held on 22 June 2018, amendments to the Articles of Incorporation providing for a transition to a company with an Audit and Supervisory Committee were approved. Accordingly, the Company changed from a company with a Board of Corporate Auditors to a company with an Audit and Supervisory Committee effective that date. The Board of Directors consists of 3 executive directors, 1 non-executive director who is an Audit and Supervisory Committee member, and 2 outside directors who are Audit and Supervisory Committee members, for a total of 6 directors.」
The Company changed to a company with an Audit and Supervisory Committee effective 22 June 2018 and introduced a structure in which Audit and Supervisory Committee members serve as members of the Board of Directors.