Governance structure
Company with an Audit and Supervisory CommitteeWhen 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.
The company holds shares only when doing so is intended to achieve sustainable growth in corporate value. It comprehensively considers the purpose and rationale for holding each shareholding from a medium- to long-term perspective, and the Board of Directors periodically scrutinises and verifies whether the returns and risks are commensurate with the cost of capital. If the carrying value falls by 50% or more, or if the company determines that economic rationale is lacking because the corporate value of an investee has been materially impaired, it will reduce or sell the holding at an appropriate time following dialogue with the investee. No figures are provided for the number or value of holdings.
Policy regarding shares of other companies held to maintain business relationships and for other purposes.
The adoption, renewal or abolition of takeover defence measures is not disclosed. The report describes policies for responding to large-scale purchases and tender offers.
Pre-agreed countermeasures in preparation for an unsolicited takeover attempt.
The report states that the guidelines were revised on 19 June 2026, but does not disclose the specific changes from the previous report.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Committee | Name Voluntary Nomination and Compensation Committees, Voluntary Risk and Compliance Committee / Percentage of outside members A majority of the Nomination and Compensation Committee are independent outside directors; the proportion for the Risk and Compliance Committee is not disclosed. |
| Policy on cross-shareholdings | The company holds shares only when doing so is intended to achieve sustainable growth in corporate value. It comprehensively considers the purpose and rationale for holding each shareholding from a medium- to long-term perspective, and the Board of Directors periodically scrutinises and verifies whether the returns and risks are commensurate with the cost of capital. If the carrying value falls by 50% or more, or if the company determines that economic rationale is lacking because the corporate value of an investee has been materially impaired, it will reduce or sell the holding at an appropriate time following dialogue with the investee. No figures are provided for the number or value of holdings. |
| Takeover defenses | The adoption, renewal or abolition of takeover defence measures is not disclosed. The report describes policies for responding to large-scale purchases and tender offers. |
| Controlling shareholder | The name of the controlling shareholder or parent company and its voting rights ratio are not disclosed. |
| Changes this time | The report states that the guidelines were revised on 19 June 2026, but does not disclose the specific changes from the previous report. |
Items this document does not state (2)
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.To strengthen the Board of Directors' audit and oversight functions, enable swift decision-making and agile business execution, improve management transparency and soundness, and establish a structure capable of responding to changes in the operating environment.