Corporate Governance
Corporate governance is an important issue that supports the foundations of the NICHIAS Group.Throughout the entire Group, NICHIAS builds and strengthens its governance framework that increases the transparency, fairness, and efficiency of the decision-making process of top management including the Board of Directors.
Board of Directors
The Board of Directors decides the direction of the Group’s corporate strategy and makes important decisions from a medium- to long-term perspective.Regular Board of Directions meetings are held, in principle, once a month. Ad hoc Board of Directors meetings are also held as and when necessary.
The Board of Directors is made up of directors with various knowledge, experience, and abilities.The Board of Directors is run in such a way as to make sound decisions through open and active discussions.
Nomination Committee
The Nomination Committee was set up as an advisory body to the Board of Directors to ensure the objectivity and validity of the process for deciding potential directors.The Nomination Committee is made up of members that include external directors and external auditors.
Remuneration Committee
The Remuneration Committee, which is made up of members that include outside directors and corporate auditors, was set up as an advisory body to the Board of Directors to ensure the objectivity and validity of decisions regarding the remuneration of directors and increase the effectiveness of corporate governance.
Officer Remuneration
At NICHIAS, the Board of Directors decides the details of officer remuneration.
Management Meetings
To ensure prompt decision-making, Management Meetings deliberate business management matters for which the authority is delegated by the Board of Directors.Management Meetings are, in principle, held once a week, and are attended by directors, full-time auditor(s), and executive officers & division managers.
The Management Meetings are run in such a way that attendees can engage in open and active discussions.Decisions made at the Management Meeting are reported to the Board of Directors.
Latest efforts status
Please see the integrated report for the latest status of initiatives.