In order to establish a corporate governance system that ensure high transparency in management and strong management supervision functions at a high level and increase corporate value, the Company has determined the following standards for judging the independence of its outside corporate officers (in principle, persons to whom none of the following apply are deemed to be independent).
- Persons to whom any of the following items a – f have applied during the past three years.
- A trading partner, or an executive thereof, whose transactions with the Company within one business year exceeded 2% of either of the trading partner’s or the Company’s consolidated net sales. (*1)
- An executive of a principal shareholder of the Company whose investment stake in the Company is 10% or more. (*2)
- A major creditor of the Company or an executive thereof.
- A person who has received, or who belongs to an organization that has received, donations from the Company amounting to more than ¥10 million per year.
- A person who has received compensation other than executive compensation from the Company, totaling more than ¥10 million per year, or a person belonging to an organization that has received compensation exceeding 2% of the organization’s consolidated net sales.
- An executive of another company for which an executive of the Company is appointed as an outside corporate officer.
- A spouse or relative within the second degree of a person in 1 or 2 above.
- A principal shareholder of the Company whose investment stake in the Company is 10% or more
- (Note 1) An executive refers to an executive director, executive officer, or equivalent person.
- (Note 2) With regard to past applicability, the determination is made depending on whether or not the person belonged in the past to a current principal shareholder, rather than whether the person currently belongs to a past principal shareholder.