Foster Electric Company, Limited
Notice Regarding Transition to a Company with an Audit and Supervisory Committee
Foster Electric Company, Limited plans to transition from a company with a Board of Auditors to a company with an Audit and Supervisory Committee, with approval at the annual general meeting of shareholders in late June 2026, establishing a new regime where outside directors constitute the majority.
Key Figures
- Scheduled Transition Date: Late June 2026 (at the 92nd Annual General Meeting of Shareholders)
- Ratio of Outside Directors: Planned to be majority of total directors
- Board Voting Rights: Granted to directors who are members of the Audit and Supervisory Committee
AI要約
Purpose of Transition to a Company with an Audit and Supervisory Committee
Foster Electric Company, Limited has resolved to transition from a company with a Board of Auditors to a company with an Audit and Supervisory Committee, conditional upon approval at the 92nd annual general meeting of shareholders scheduled for late June 2026. The transition will establish an Audit and Supervisory Committee comprised of a majority of outside directors to strengthen auditing and supervisory functions within the board. Additionally, part of the board’s authority to decide on business execution will be delegated to directors to accelerate managerial decision-making and execution.
Timing of Transition and Future Actions
The transition will be implemented following approval of amendments to the Articles of Incorporation at the annual general meeting of shareholders in late June 2026. Details of the new governance framework after transition are disclosed in the 'Notice Regarding Changes in Directors' issued on the same day, and specific details of the amendments to the Articles of Incorporation will be announced once finalized.
