Report on the 142nd Ordinary General Meeting of Shareholders
At the 142nd Ordinary General Meeting of Shareholders, held on June 26, 2018, important matters were reported and resolved as follows.
Business Report, Consolidated Financial Statements and Non-consolidated Financial Statements for the 142nd term (from April 1, 2017 to March 31, 2018), as well as the results of the audit of Consolidated Financial Statements by the Accounting Auditors and Board of Auditors For more details regarding the items listed above, please refer to the following two documents.
Item 1: Reverse Stock Split
Reverse Stock Split was resolved in accordance with the Company’s original proposal.
In accordance with the resolution, the Company will perform a 5-for-1 reverse stock split effective on October 1, 2018.
In addition, the Company will change the total number of issued and outstanding shares from 1,600 million to 320 million shares on the same date.
Item 2: Election of Eight (8) Directors
The following 8 directors were appointed in accordance with the Company’s original proposal
- Michihiro Kitazawa
- Kenzo Sugai
- Toshihito Tanba
- Naoomi Tachikawa
- Yoshitsugu Hayashi
- Michio Abe
- Masatsugu Tomotaka
- Junichi Arai
Further, Toshihito Tanba, Naoomi Tachikawa and Yoshitsugu Hayashi are all outside directors in accordance with article 2-15 of the Companies Act of Japan.
Item 3: Election of One (1) Auditor
The following 1 auditor were appointed in accordance with the Company’s original proposal
- Yoshio Okuno