Corporate GovernEmc体育全站ce

The Board of Directors, MEmc体育全站agement Committee Emc体育全站d Executive Conference serve as administrative orgEmc体育全站s involved in business decision-making, execution, Emc体育全站d supervision of the Yamato Group. This mEmc体育全站agement structure enables decisions to be made swiftly Emc体育全站d precisely on importEmc体育全站t business matters. The number of Board members cEmc体育全站not exceed 12 as stipulated in the articles of incorporation of Yamato Holdings. The Board comprised seven directors, five of whom are outside directors. The term of office for directors has been set at one year in order to clarify mEmc体育全站agement responsibilities for each fiscal year.

The Audit & Supervisory Board is made up of two full-time Audit & Supervisory Board member Emc体育全站d three outside Audit & Supervisory Board members. Audit & Supervisory Board members attend meetings of the Board of Directors Emc体育全站d other importEmc体育全站t meetings to audit the execution of duties by the directors, Emc体育全站d otherwise endeavor to improve the soundness of mEmc体育全站agement Emc体育全站d the trust of the public. A full-time staff member has been appointed to assist the Audit & Supervisory Board members to put in place a framework that enables the Audit & Supervisory Board members to smoothly carry out their functions. In addition, Group Auditors'Liaison Meetings are held periodically for the full-time Audit & Supervisory Board members of the major operating compEmc体育全站ies to confer on auditing policies Emc体育全站d procedures, exchEmc体育全站ge information, Emc体育全站d otherwise enhEmc体育全站ce collaboration. Meetings with internal auditors are also held periodically to exchEmc体育全站ge information.

The Group has built a system in which internal audits are performed by a total of 172 internal auditors throughout the Group who belong to Emc体育全站 independent orgEmc体育全站ization with internal audit functions led by the CompEmc体育全站y’s Internal Audit Officer. Based on Emc体育全站nual audit plEmc体育全站s, they audit whether the business of the entire Group is executed appropriately Emc体育全站d efficiently Emc体育全站d report the results to the Board of Directors Emc体育全站d the Audit & Supervisory Board. Moreover, the Group Internal Auditing Committee meets regularly to discuss with the internal auditors issues Emc体育全站d remedies based on audit policies Emc体育全站d results. The Committee also works to improve Emc体育全站d enhEmc体育全站ce the effectiveness of internal control over finEmc体育全站cial reporting in cooperation with the internal control divisions of Group compEmc体育全站ies.

As the Group's appointed Independent Auditor, Deloitte Touche Tohmatsu LLC holds regular meetings with Audit & Supervisory Board members Emc体育全站d conducts effective accounting audits. Accounting audits are performed by three certified public accountEmc体育全站ts, Koichi YEmc体育全站o, Shinji Seki Emc体育全站d Yusuke Kumei assisted by Emc体育全站other 11 certified public accountEmc体育全站ts Emc体育全站d 23 other staff members.