Governance structure
other affiliated company; direct ownership: 18.71%; portion included in aggregation: 11.66%; total: 30.37%
When 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.
No changes from the previous report are described.
| Item | Details |
|---|---|
| Controlling shareholder | Nippon Paper Industries Co.,Ltd. (other affiliated company; direct ownership: 18.71%; portion included in aggregation: 11.66%; total: 30.37%) |
| Changes this time | No changes from the previous report are described. |
Items this document does not state (6)
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 reason for appointing employees of Nippon Paper Industries Co.,Ltd. and officers of its subsidiaries as outside directors is to apply their knowledge and experience in the paper industry to the company’s audit structure. The company also explained that its independent management decisions are not impeded, that its management and business activities are not constrained by controlling shareholders, etc., and that the independence of its management is ensured.