Seiko Epson: Epson partially changes its corporate governance policy


Press release

– TOKYO, Japan, October 1, 2021 –

Seiko Epson Corporation (TSE: 6724, “Epson”) announced that its board of directors, at a meeting held on September 30, approved changes to the corporate governance policy, a statement of basic principles and the corporate governance framework within Epson.

Epson, which established the policy in September 2015, strives to continually improve and strengthen corporate governance in order to make transparent, fair, prompt and decisive decisions to achieve the goals stated in its management philosophy, promote sustainable growth and increasing value in the medium and long term.

Epson recently decided to partially change the policy after reviewing its compliance with the spirit and content of Japan’s revised Corporate Governance Code.
See the amended corporate governance policy at the link below.
https://global.epson.com/SR/organizational_governance/

  • Section 11, “Ensuring Diversity in the Workforce”, has been amended to help ensure diversity in core human resources.

  • Article 13, “Asset management and management of company pensions”, has been newly created to allow appropriate monitoring and supervision of company pensions.

  • Article 15, “Establishing and disclosing business plans”, has been amended to clarify the thinking about the business portfolio and Article 14 “Dissemination of information and appropriate dialogue” and former Article 30 ” Dialogue with shareholders ”have been reorganized and integrated with regard to dialogue with shareholders.

  • Section 16, “The Role of the Board of Directors”, has been amended to allow the Board of Directors to better discharge its functions.

  • Article 23, “Director Nomination Committee and Director Compensation Committee”, has been amended to clarify the independence, authority and role of the Director Nomination Committee and the Director Compensation Committee.

* Refer to the attachment for more details. The changes have been underlined.

To achieve its goal of achieving effective corporate governance that reflects prevailing social imperatives and the operating environment, Epson will review this policy and modify it as necessary, on an annual basis.

Attachment: Details of the main amendments to the corporate governance policy (295 KB)

About Epson
Epson is a global technology leader dedicated to co-creating sustainability and enriching communities by leveraging its efficient, compact and precise digital technologies and technologies to connect people, things and information. The company focuses on solving societal problems through innovations in home and office printing, commercial and industrial printing, manufacturing, visuals and lifestyle. Epson will go carbon negative and eliminate the use of exhaustible underground resources such as oil and metal by 2050.
Led by Japanese company Seiko Epson Corporation, the global Epson group generates annual sales of approximately JPY 1 trillion.
global.epson.com/


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