Corporate Governance

Basic Stance on Corporate Governance

MDV views the strengthening of its corporate governance systems as an important management issue in order to continually raise corporate value. To that end, the Company strives to create and operate management structures that respond swiftly and accurately to changes in the business environment, while also enacting a basic policy on corporate governance that aims to ensure the soundness and transparency of the company and to earn the trust of shareholders, customers, business partners, employees, and all other stakeholders.

Matters related to the execution of business, auditing and supervision, appointments, and determination of remuneration

Board of Directors

MDV’s Board of Directors is comprised of directors, including part-time directors, and it meets regularly to discuss and decide on important matters related to business execution and to execute these duties, while mutually supervising execution of these duties between directors. In addition to scheduled meetings, in principle, once a month, emergency meetings are held when necessary to enable flexibility in decision making.

Auditors and Board of Auditors

MDV uses a board of auditors’ system. Board of Auditors includes part-time auditor, and while conducting strict oversight of the operational execution of the Board of Directors, it also conducts auditing of the Company’s accounts and operations. The Board of Auditors meets, in principle, once a month and endeavors to ensure the effectiveness of corporate governance. Moreover, all of the auditors attend meetings of the Board of Directors, and the full-time auditors regularly attending other important meetings and give their opinion when necessary.

Board of Management, Internal Board Meeting

MDV’s Board of Management and Internal Board Meeting is comprised of directors, auditors (not including part-time executives), and division heads nominated by the President, and it meets, in principle, once a month. The Board of Management reports on management plans, organizational structure, financial conditions, and operating conditions, as well as discussing important matters of policy.

Corporate Audit Committee

MDV is entered into an auditing contract with Deloitte Touche Tohmatsu LLC to received auditing services in accordance with company law and the Financial Instruments and Exchange Act. In addition, it conducts appropriate auditing when necessary.

Details of chart of corporate governance structure