On the conclusion of the 144th Annual General Shareholders' Meeting
June 27, 2008
At the 144th Annual General Shareholders' Meeting, on June 27, 2008, all proposals submitted were resolved as drafted and the following major items were approved:
- Appropriation of Retained Earnings
The year-end dividend for each share of stock was set at ¥13.50.
- Appointment of Ten Directors
Nine members of the previous board of directors— Messrs. Michiro Kariya, Ichiro Terato, Makoto Kimura, Kyoichi Suwa, Kazuo Ushida, Naoki Tomino, Yoshimichi Kawai, Shunji Kono and Kenji Matsuo — were reappointed, and Mr. Masami Kumazawa was newly elected. Messrs. Shunji Kono and Kenji Matsuo are external directors, under the Corporation Law.
- Appointment of Three Corporate Auditors
Mr. Susumu Kani was reappointed and Messrs. Mamoru Kajiwara and Yoshiyuki Nagai were newly appointed. Mr. Susumu Kani is an external corporate auditor, under the Corporation Law.
- Presentation of Retirement Benefits to Retiring Director and Corporate Auditors
Retirement rewards and allowances will be extended to the retiring director, Mr. Yutaka Ichihara, and to the two retiring corporate auditors, Messrs. Masami Kurosawa and Hisayuki Shimizu, for services rendered during their terms in office, in keeping with the company's prescribed standards. Decisions regarding amounts, dates and methods of payment for the retiring director will be left to the discretion of the board of directors. Decisions regarding amounts, dates and methods of payment for the retiring corporate auditors will be left to the discretion of the board of directors for their services as directors, and to the council of corporate auditors for services as auditors.
- Payment of Bonuses to Directors
Based on business performance for the 144th fiscal term and other criteria, it was determined that compensation to the eight board of directors members (excluding two external Directors) serving at the end of the 144th term would total 150,956,000 yen.
- Amount and Details of Compensation Concerning Stock Acquisition Rights as Stock Compensation-type Stock Options for Directors
It was determined that in the current fiscal year (145th term), stock acquisition rights in the form of stock options would be allotted to the Company's board of directors members (excluding external directors) as share warrants for the maximum annual amount of 76 million yen (not including interlocking directorates employee compensation) on the condition that the same amount of the compensation claims as the amount payable and the amount to be paid upon exercise of the stock acquisition rights are offset.
The information is current as of the date of publication. It is subject to change without notice.