Corporate Governance System

Corporate Governance System

The Company has a board of directors and a Supervisory Board Corporate Auditors.

Board of Directors

The board of directors consists of a total of 8 members, 6 of whom are internal directors and 2 of whom is an outside director. In accordance with laws and ordinances and the Company’s Articles of Incorporation, regulations for directors and other internal rules, the board makes decisions on important matters and supervises the directors’ business execution.
The directors execute the duties assigned to them in accordance with the roles determined by the board of directors and with laws, ordinances, the Articles of Incorporation and internal rules.

Governance Committee

We have the Governance Committee under the board as a voluntary consultative body for the purposes of strengthening the board of directors’ functions of execution and supervision and increasing the transparency of the decision-making process

[Functions] Verification of policies on election of Directors and Audit & Supervisory Board Members and individual proposals on nomination/dismissal, analysis and evaluation of status of the Director remuneration system (policy on determination of remuneration and appropriateness of remuneration levels, etc.) and effectiveness of the Board of Directors, and deliberations on other proposals relating to governance

[Composition] A total of 7 members: 5 Independent Directors/Audit & Supervisory Board Members (3 Outside Directors, 2 Outside Audit & Supervisory Board Members), and 2 Internal Directors

Executive Officer System

For strengthening the board of directors’ decision-making function and supervisory function and for increasing efficiency in business execution, the Company adopts the executive officer system. Following decisions made by the board, executive officers perform their respective duties as delegated by the board and the representative director.

Board of Corporate Auditors

The Board Corporate Auditors is composed of two standing corporate auditors (corporate auditors) and two non-standing corporate auditors (outside corporate auditors). In accordance with the regulations for the Board Corporate Auditors and the standards for audits by corporate auditors, it performs audits to examine the appropriateness of the directors’ business execution.

Management Advisory Conference and Several Committees

The Company has established Management Advisory Conference and several committees: Risk Management Committee, Internal Control Committee, Disclosure Committee, and Sustainability Committee. They are aimed at helping President and the Board of Directors to make appropriate and swift decisions on business execution. As an advisory body for President, Management Advisory Conference discusses important matters related to the Company’s overall management policy and its business administration.