Governance structure
Company with an Audit and Supervisory CommitteeThe Board of Directors resolved to oppose the shareholder proposals. It also decided to reduce medium- to long-term incentive compensation for executive directors by 55% and the position allowance of the Representative Director and President by 40%.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Committee | Non-statutory Nomination Committee (a majority of whose members are independent outside directors serving as Audit and Supervisory Committee Members), and non-statutory Compensation Committee (a majority of whose members are outside directors serving as Audit and Supervisory Committee Members) |
| Changes this time | The Board of Directors resolved to oppose the shareholder proposals. It also decided to reduce medium- to long-term incentive compensation for executive directors by 55% and the position allowance of the Representative Director and President by 40%. |
Items this document does not state (5)
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 Board of Directors opposed Shareholder Proposals 1 through 3 on the grounds that the Representative Director and President is promoting business structure reform and that his removal would hinder the reform; that the company’s proposed director candidates were selected through the Nomination Committee; and that existing compensation is determined based on recommendations from the Compensation Committee and objective indicators, making a uniform 50% reduction unreasonable.