Working to strengthen and enhance corporate governance is another key management issue in the pursuit of sustainability. We consider invigorating the function of the Board of Directors a matter of particular importance, and we are taking steps to make that happen.
We have enhanced the oversight, supervision, and audit functions of the Board of Directors and the Audit & Supervisory Committee by appointing the chair of the Audit & Supervisory Committee from among those committee members who are also outside directors, and by promoting close communication between outside and inside directors through meetings and other channels.
We have also strengthened the role of the outside directors by requiring that the they make up a majority of the membership of the Nomination and Compensation committees and chair those committees, as well. These committees serve to strengthen the transparency, independence, objectivity, and accountability of the processes for deciding director appointments and compensation.
Furthermore, we have introduced a system whereby the outside directors now attend, as appropriate, the Management Meeting, Internal Control Committee, and Sustainability Committee, where they exercise an advisory function by offering opinions and comments.
As we continue to contribute to society for years to come, Casio will value dialogue with stakeholders in our commitment to making the most of the characteristics that make Casio’s existence so valuable.