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At the board of directors held today, we have concluded the following decisions subject to the approval at the 94th general shareholders' meeting scheduled in June, 2018.
| 1. |
The Decided Contents and Purpose |
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| Decided Contents |
Purposes |
| Transition to a Company with an Audit & Supervisory committee |
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Enhanced supervisory function of the Board of Directors with members of the Audit & Supervisory Committee holding voting rights at the Board of Directors |
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Expedited dicision-making through delegating authority from the Board to directors |
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| Revision of the system of directors and executive officers |
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Further clarification of the division of roles between directors and executive officers. |
| Note: |
The role of directors is supervisory function, and that of executive officers is business execution function. |
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2. Timing of implementation
The transition is scheduled to be effective after the approval of the necessary amendment to the articles of incorporation at the 94th general shareholders' meeting.
3. Others
We will inform you of the amendment to the articles of incorporation and the appointments of directors and executive officers once decided.
We have made our best effort to organize and enhance corporate governance system for sustained growth in corporate value.
As our business environment, including the electricity system reform, is expected to change drastically, we will respond more quickly and flexibly to that change.
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