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Strengthening Foundations for Growth Strengthening Foundations for Growth Corporate Governance Corporate Governance The EBARA Group has created a definition for “The Ebara Way,” which comprises the founding spirit of EBARA, its corporate philosophy, and the EBARA Group CSR Policy. Under the Ebara Way, the EBARA Group recognizes the enhancement of its corporate value through ongoing business development and the continuous return of profit to shareholders as one of its most important management missions. To achieve such missions, we pursue the best possible corporate governance structure and strive for its further enhancement. Corporate Governance Basic Policy Transformation of Corporate Governance System 1. The Company respects shareholders’ rights and fosters an 5. The Company engages in constructive dialogue with share- 2008 Two Outside Directors environment for shareholders to effectively exercise their holders and investors on the basis of its IR Basic Policy, 2011 2015 2002 were appointed. The number of Outside Pursuit of further corporate EBARA transitioned rights while ensuring equality among shareholders. with a view to contributing to sustainable growth and the The Executive Officer The Nominating Committee Directors was raised from governance system to a Company with 2. The Company strives to appropriately cooperate with vari- medium-to-long-term enhancement of corporate value. System was introduced. and Compensation two to four (one-third of enhancement Three Committees ous stakeholders, including customers, business partners, Committee were voluntarily all Directors). The EBARA Corporate Governance Basic Policy can be viewed on the established. employees, and local communities. The Company also Company’s corporate website. strives to develop a corporate culture and climate in which Corporate Governance System at a Glance such stakeholders’ rights and viewpoints are respected and Corporate Governance Framework business is effectively executed. Format Company with Three Committees 3. The Company strives to ensure management transparency Chairperson Chairman of the Board Supervision General Meeting of Shareholders through adequate disclosure of its corporate information. Number of Directors 14 4. The Company has established a governance system com- Of Whom Are Outside Directors 7 prising mainly Non-Executive Directors, including Indepen- Term of Directors 1 year Nominating Committee Board of Directors dent Outside Directors who play important roles. The Granting of Incentives to Directors Introduced compensation system Chairperson Company has adopted a “Company with Three Commit- linked to business results Chairperson Introduced stock option system Outside Directors Meeting tees” system to ensure the clear separation between Compensation Committee Outside Directors supervision and execution in management. Number of Independent Directors 7 Chairperson Chairperson Policy Regarding Amount of Inside Directors (Non-Executive) Remuneration or the Method Yes Audit Committee for Calculating That Amount Inside Directors (Executive) Chairperson Independent Auditor Ernst & Young ShinNihon LLC Support organizations Audit for the Board of Directors Committee Office Initiatives for Strengthening Corporate Governance Corporate Strategy Planning & Governance Reinforce supervisory functions and enhance transparency Establish a corporate governance system that can be Enhancement Division in corporate management through the Board of Directors easily understood by global stakeholders Business execution With the Board of Directors consisting mainly of Directors who The rises in the percentages of overseas sales and foreign Management Meeting do not concurrently serve as Executive Officers, including Out- shareholders require us to make corporate governance more side Directors, we reinforce the Board’s function to supervise comprehensible from a global perspective. We improve the President, corporate management from the perspective of enhancing its corporate governance system so that it becomes more clearly Meeting bodies for Representative business execution Executive Officer independence, objectivity, and transparency. understood globally. Management Planning Corporate Audit Committee Department Expand authority of the executive organization and enhance competitiveness regarding business execution Risk Management Panel Executive We promote flexible and speedy business management by Officers ensuring a clear separation of roles and responsibilities CSR Committee between the Board of Directors and executive organization and Disclosure Committee by delegating authority over an extensive range of business Executive Organizations execution to the executive organization. Outside Director Inside Director (Non-Executive) Inside Director (Executive) Executive Officer 42 Integrated Report 2016 EBARA CORPORATION EBARA CORPORATION Integrated Report 2016 43 Strengthening Foundations for Growth Strengthening Foundations for Growth Corporate Governance Corporate Governance Roles and Structures of Each Organization Officer Independence Standards Board of Directors Three Committees The Company has established its own independence stan- 3) A person who is a major shareholder of the Company or The Board of Directors is charged with three major responsibili- The Company has adopted a “Company with Three Commit- dards based on the independence standards specified by the representative of the interests thereof. ties: setting the directives for important corporate strategies, tees” system to achieve clear separation between supervision the Tokyo Stock Exchange. Specifically, a shareholder of the Company, or a Director, establishing frameworks to allow for appropriate risks to be and execution in management. Accordingly, the Company has The Company’s Independence Standards an Executive, an Executive Officer, a manager, or other taken in business execution, and providing highly effective established three committees membered by a majority of Out- Independent persons with no material interests in the Company employee of a company representing the interests thereof oversight for business execution from an objective and inde- side Directors: the Nominating Committee, the Compensation are to be appointed as Outside Directors. “Independent per- holding 10% or more of the total shares issued within the pendent standpoint. In addition, the Board of Directors is Committee, and the Audit Committee. sons with no material interests” refer to persons to whom none two years preceding the appointment of Director nominees. expected to exercise leadership from the perspectives of con- of the following items apply. 4) A person providing professional services to the servative preparation and aggressive expansion. In terms of Outside Directors Meeting 1) An internal employee or former internal employees of the EBARA Group. conservative preparation, the Board will work to establish regu- We have established the Outside Directors Meeting for Outside Company or its subsidiaries who do not meet the require- “Professional services” refer to the following categories latory frameworks for preventing the occurrence of scandals Directors to freely conduct the discussions required to fulfill ments for Outside Directors stipulated in Article 2, Item 15, according to the services provided. and the materialization of other downside risks. From the per- their responsibilities. A Chief Outside Director, who is elected of the Companies Act. i) Certified public accountant spective of aggressive expansion, the Board will ensure that by mutual voting, serves as Chairperson of the meeting. When 2) A person who has been a Director (excluding Outside A person who has been directly engaged in the financial auditing of systems are in place to allow management to take bold action an issue to be discussed pertains to a specific business seg- Director), Audit & Supervisory Board Member (excluding the EBARA Group in the past five years. to prevent the loss of upside risk (such as business ment, meetings should be convened at a site directly related to Outside Audit & Supervisory Board Member), Executive ii) Attorney, tax accountant, patent attorney, judicial scrivener, or opportunities). the relevant business. Officer, or employee executing business of a company with management consultant The Board of Directors comprises 14 Directors consisting a material business relationship with the Company and its A person who has provided services to the EBARA Group in of seven Independent Outside Directors, two of whom are Management Meeting consolidated subsidiaries (hereinafter referred to as the the past three years and has received annual compensation of women; four Inside Non-Executive Directors; and three Inside We have established the Management Meeting as a delibera- “EBARA Group” or “the Group”) in the past five years. “A ¥10 million (including tax) or more. Directors who concurrently serve as Executive Officers. The tive body to support decision making by the President, company with a material business relationship with the 5) A person who has received or belongs to a for-profit group Chairman of the Board is to be a Non-Executive Director. Representative Executive Officer. The Meeting comprises all EBARA Group” refers to any of the following. that has received donations, financing, or guarantee of debt To facilitate more meaningful discussions at Board of Direc- Executive Officers. Meetings are held monthly to deliberate i) A company to which sales were made accounting for 2% or more from the EBARA
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