Governance

The Board of Directors meets, in principle, every month with Audit & Supervisory members in attendance to ensure compliance with applicable laws and the Articles of Incorporation in the execution of business.
In addition to its statutory duties, the role of the Board of Directors is to make important decisions about basic management policy, strategy, and other aspects of business execution. As of July 2022, the Board of Directors consists of nine directors, including three outside directors.

The Executive Committee, in accordance with the Executive Committee Rules, comprises the President and executive officers ranked senior corporate officer and above, meets twice a month in principle to examine and make decisions on important business matters after due deliberation involving consultation with attending fulltime Audit & Supervisory Board members. Important business matters stipulated in the Board of Director Rules are examined and decided by the Board of Directors.

The Audit & Supervisory Board comprises five members, including three external members. The Board reports, discusses, and adopts resolutions on important business matters. In accordance with the auditing guidelines established by the Audit & Supervisory Board, each member audits directors’ execution of their duties through various means, such as attending Board of Directors meetings and monitoring business operations, including at subsidiaries’ operations.

The Director and Officer Nomination and Compensation Committee is placed with the Board of Directors as an advisory organ for the purpose of strengthening the objectivity and transparency of the functions of the Board of Directors related to nominating directors and officers and deciding their compensation. The committee comprises four members, of which three are independent outside directors.