Review of the FY2023 Evaluation Process and its Evaluation Results
Review of the FY2023 Evaluation Process and its Evaluation Results
Evaluation Process
Evaluation Process
With respect to self-evaluation of the Company’s Board of Directors’ effectiveness, questionnaires were distributed to the Directors and Auditors and obtained their responses. Designated evaluation ‘members’ conducted analysis and evaluation pursuant to discussions based on the aggregated response results, status of the Board of Directors meeting for the current fiscal year, as well as briefs on various matters and statements expressed.
Evaluation Results
Evaluation Results
The Company’s Board of Directors have evaluated that the effectiveness has been sufficiently secured, as follows.
-
Sufficient time has been taken to discuss proposals raised at the Board of Directors, with earnest and vigorous discussions taking place between the attendees, and appropriate decision-making and supervision related to executional matters have been properly conducted.
-
Outside Directors and Outside Corporate Auditors are extremely actively engaged in discussions by proactively speaking out from their respective professional viewpoints. Their opinions are fully reflected in our Management’s decision-making process.
-
Functional role and management method of the Company's Board of Directors are continuously being devised to enhance their effectiveness. This is leading to the enrichment of active deliberations during the Board of Directors, strengthened supervision and guidance on execution.
-
MISUMI now has three Independent Outside Directors. This ensures that we are in compliance with the Prime Market rule for at least one-third of board members to be independent outside directors.
-
At the Annual General Meeting of Shareholders in June 2024, a female Outside Director was appointed, further improving the diversity of the Board of the Directors.
-
The Nomination and Compensation Committee acts as an advisory body to the Board, overseeing the evaluation, compensation determination, election, and dismissal of Board members, including Representative Directors. The Committee also engages in discussions and executes succession plans for Representative Directors.
Going forward, we will continue to discuss the roles, functions, operations and meeting agenda of the Board of Directors, so that the Board has a good view of future business growth and response to globalization efforts. We will also engage in ongoing dialogue with our stakeholders, including shareholders and investors, and consider the number, composition, diversity and balance of knowledge, experience and skills of the Directors and Outside Directors.
MISUMI's e-Commerce Site
We supply custom parts for automation devices and equipment, dies/molds, tools, consumables, and more, with same-day shipping at the earliest. Products from more than 3,000 domestic and international third-party brands, including MISUMI, are offered.