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Basic Approach to Corporate Governance

Akebono established the following corporate mission: "Through 'Friction and Vibration, their Control and Analysis,' we are determined to protect, grow and support every individual life".

Under this corporate mission, creating new values through monozukuri (value-added manufacturing) with Akebono's corporate goals, "Customer needs first", "Technology realignment", and "Establishing a global network", we believe that it is important to maintain and promote healthy and friendly relationship with all stakeholders including customers, shareholders, suppliers, ourassociates, and regional community in order to achieve sustainable growth and development.

Akebono recognized strengthening our corporate governance is one of the most important tasks in order to realize these visions and established our corporate governance system centered on the Board of Directors and the Audit & Supervisory Board.

The Board of Directors makes important decisions and supervises on daily operations according to laws and regulations, our articles of incorporation, "Provisions for the Board of Directors", and other internal company rules-including three Outside Directors out of seven board members to enhance its supervisory function to our management. The Board of Auditors conducts audits to ensure the proper execution of tasks and responsibilities by management in accordance with the "Board of Auditors Regulations". Further, three of the five corporate auditors are external auditors in effort to strengthen and ensure the independence of the audit function.

Akebono also considers it important to listen to and reflect the feedback from investors including the shareholders with constructive and ongoing dialogues, and will further promote the bi-lateral communications.

Initiatives to Strengthen Corporate Governance

April 2000
  • Introduced an Executive Officer System
June 2005
  • Reduced the maximum number of directors from 25 to 12
  • Introduced an Outside Director System and elected one outside director
  • Established the Compensation Advisory Committee and introduced a performance-based remuneration system for directors
June 2006
  • Increased the number of outside Audit & Supervisory Board members from 1 to 2
June 2007
  • Increased the number of outside directors from 1 to 2
June 2010
  • Increased the number of outside Audit & Supervisory Board members from 2 to 3
June 2014
  • Increased the number of outside directors from 2 to 3
December 2015
  • Established the Director Nomination Advisory Committee