Audit Committee
To establish a favorable corporate governance system, the Company has established its Audit Committee and the Audit Committee Charter. Members are all Independent Directors, and meetings are taking place at least once each quarter. The duties of the Audit Committee are to reinforce the internal control system, to assist the Board in decision-making, to implement risk management and specifications related to the Board, and other legal compliance matters. A total of 4 committee meetings were held during 2024 and the attendance rate for all directors was 100%.
The duties of the committee are as follows:
- The adoption of or amendments to the internal control system pursuant to Article 14-1 of the Securities and Exchange Act.
- Assessment of the effectiveness of the internal control system.
- The adoption or amendment, pursuant to Article 36-1 of the Securities and Exchange Act, of the procedures for handling financial or business activities of a material nature, such as acquisition or disposal of assets, derivatives trading, loaning of funds to others, and endorsements or guarantees for others.
- Matters in which a director is an interested party.
- Asset transactions or derivatives trading of a material nature.
- Loans of funds, endorsements, or provision of guarantees of a material nature.
- The offering, issuance, or private placement of equity-type securities.
- The hiring or dismissal of a certified public accountant, or their compensation.
- The appointment or discharge of a financial, accounting, or internal audit officer.
- Annual and semi-annual financial reports.
- Other material matters as may be required by this Corporation or by the competent authority.
- Review other significant matters required by the Company or the competent authorities.
Main Points of Discussion by the 2024 Audit Committee
Main Points of Discussion by the 2023 Audit Committee