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Sustainability

Corporate Governance

Our Approach to Corporate Governance

We strive to be an innovative, leading company that contributes to solving various social issues through offering customer-centric financial services. To achieve this vision, we aim to become a financially strong and profitable company that is more than ever recognised by its stakeholders for its significance in society. We prioritize maintaining transparency in management and fairness towards stakeholders, as well as making prompt and definite decisions. Considering our business environment, we are committed to enhancing corporate governance.

Basic Policy on Corporate Governance

Our Basic Policy on Corporate Governance is as follows:

  1. We are committed to respecting the rights of our shareholders and creating an environment where shareholders can exercise those rights appropriately and equality of shareholders is maintained.
  2. We recognize the importance of social responsibility and strive for appropriate collaboration with stakeholders other than shareholders.
  3. We will continue to disclose financial and non-financial information in compliance with legal requirements and actively provide additional information beyond the requirements of regulation.
  4. Our Board of Directors will appropriately fulfill its roles and responsibilities for the sustainable growth of the company and the medium to long-term enhancement of corporate value, based on its fiduciary responsibility and accountability to shareholders.
  5. We will disclose information regarding our management strategy and financial and performance status in a timely and appropriate manner, which will enhance our investor relations (IR) activities and earn the trust and recognition of shareholders and investors.

Please refer to our company's "Corporate Governance Report" on our website for further information on enhancing information disclosure, ensuring diversity among core personnel, and our business execution structure.

Corporate Governance Structure

Orient Corporation is listed on the Tokyo Stock Exchange Prime Market and has elected to have an Audit and Supervisory Committee.
As of the end of March 2023, we have implemented all the principles stated in the Corporate Governance Code.
We place emphasis on the Board of Directors' role in formulating strategies and providing oversight, while delegating the authority for business execution to the President and Director as much as possible.

Our Board of Directors consists of 13 members, including 8 directors (excluding directors in the Audit and Supervisory Committee) and 5 directors who are members of the Audit and Supervisory Committee. Additionally, we disclose a "skill matrix" that outlines the knowledge, experience, and abilities of directors. We make sure that independent outside directors consist of more than one-third of the Board of Directors to ensure the objectivity and transparency of multi-faceted discussions and decision-making.

In accordance with the Articles of Incorporation, we delegate certain important business execution decisions (excluding matters stipulated in Article 399-13, Paragraph 5 of the Companies Act) to the President and Representative Director, which enables swift decision-making in management and allows the Board of Directors to focus on key discussions, such as formulating management policies and strategies.

The Nomination and Remuneration Committee and the Conflict of Interest Management Committee, the majority of whose members are independent outside directors, have been established as advisory bodies to the Board of Directors. The Nomination and Remuneration Committee deliberates on matters related to the personnel and remuneration of officers, as advised by the Board of Directors. The Conflict of Interest Management Committee reviews significant transactions with our major shareholders.

While we delegate significant authority for business execution to the President and Director, we have established various advisory bodies to support the President and Director in making appropriate decisions, including the Executive Management Meeting, the Operational Auditing Committee, the Sustainability Committee, the Comprehensive Risk Management Committee, and the Compliance Committee.

Operational Performance of Principal Committees and Congressional Bodies

Ratio of Independent External Directors
in each body*1		 Top: number of meetings
Bottom: average attendance ratio
2018 2019 2020 2021 2022
Board of Directors 38% 14
98%		 13
99%		 13
96%		 13
98%		 16
98%
Nomination & Remuneration Committee *2 67% 5
100%		 3
100%		 7
100%		 6
100%		 5
100%
Conflict of Interest Management Committee 67% - - - - 2
100%
*3
Audit & Supervisory Committee 60% - - - - 14
99%
*4
Board of Auditors *5 - 15
98%		 16
97%		 17
96%		 17
98%		 3
93%

*1 As of June 30, 2023
*2 Established in February 2017 as an advisory body to the Board of Directors. Deliberates on matters related to personnel and compensation of directors and executive officers.
*3 Established in June 2022 as an advisory body to the Board of Directors. Deliberates on important transactions with the Company's major shareholders.
*4 Newly established in June 2022 with the transition to a company with Audit & Supervisory Committee. All committee members are non-executive directors.
*5 Abolished in June 2022 with the transition to a company with Audit & Supervisory Committee.

Analyzing and Evaluating the Effectiveness of the Board of Directors

Our company conducts an annual self-evaluation on the effectiveness of the Board of Directors. Based on the results, we take appropriate measures to address any identified issues and enhance our strengths, ensuring sustainable growth and the long-term increase of corporate value.
In FY 2022, we surveyed all directors on various topics, such as "reporting on business execution to improve supervisory effectiveness", "establishing a monitoring system to enhance risk management and compliance", "strengthening discussions on key topics to facilitate the functioning of the Board of Directors", and "stimulating discussions in the Board of Directors". This self-evaluation confirmed the effectiveness of our Board of Directors.
Moving forward, we will continue to implement initiatives to further improve the effectiveness of the Board of Directors.

Board of Directors' Policies and Procedures for Nominating Director Candidates and Appointing Executive Management

Our company follows the following policies and procedures for nominating director candidates and selecting executive management:

  1. Board of Directors' policies and procedures for selecting executive management, nominating director candidates (excluding directors serving as auditors), and appointing members of the Audit and Supervisory Committee.

    • (1) The Board of Directors consists of directors who possess knowledge, experience, and qualities that contribute to the functioning of the board, taking into consideration the scope, scale, and operating environment of our business.

    • (2) When nominating candidates for Directors (excluding directors serving as auditors), internal Directors must have a high level of expertise in the Company's business and excellent management judgment and execution skills. For outside directors, candidates must have abundant experience in corporate management, expertise in retail finance, economics, corporate management, legal affairs, finance and accounting, or in-depth knowledge of other issues surrounding corporate management.

    • (3) For director candidates serving as auditors, the requirements include knowledge of business, finance and accounting, governance, risk management, legal affairs, compliance, and other knowledge and experience necessary to audit business execution from a fair and objective standpoint.

    • (4) The skill set of the Board of Directors is described in a skills matrix, and efforts are made to nominate director candidates with balanced capabilities.

    • (5) Based on (2) above, the Nomination and Remuneration Committee, a majority of whose members are independent outside directors, deliberates on director candidates (excluding directors serving as auditors). After receiving consent from the Audit and Supervisory Committee, the President and Representative Director will make a proposal to the Board of Directors and the Board of Directors will determine the candidates.

    • (6) Based on (3) above, the Nomination and Remuneration Committee, a majority of whose members are independent outside directors, deliberates on director candidates for the Audit and Supervisory Committee. After receiving consent from the Audit and Supervisory Committee, the President and Director will make a proposal to the Board of Directors and the Board of Directors will determine the candidates.

    • (7) When appointing executive management, the President and Director proposes to the Board of Directors candidates who will demonstrate leadership in management and implementing business strategies, and the Board of Directors will select the candidates.

    • (8) In the event that an executive manager is associated with misconduct, violation of laws, regulations, the Articles of Incorporation, or other situations that may damage the Company's corporate value, the executive manager will be dismissed by the Board of Directors after deliberation by the Nomination and Remuneration Committee, the majority of whose members are independent outside directors.

  2. Reasons for the appointment of directors and executive management:

    ※For details including the profiles of directors and executive managers, as well as the rationale behind their appointment, please refer to the following:

Directors' Skills Matrix

Click here for the skills matrix which lists knowledge, experience, and abilities of our directors:

Policy for Determining Directors' Compensation

We determine the compensation of Directors (excluding directors serving as auditors) based on the following policy:

  1. Policy regarding individual compensation of Directors (excluding directors those who are members of Audit and Advisory Committee):

    • (1) Basic Policy

      Compensation for Directors (excluding External Directors) consists of fixed compensation based on their roles and responsibilities, and performance-linked compensation which fluctuates based on the company's performance. Both serve as a sound incentive for medium- to long-term performance and improvement of corporate value. The performance-based compensation is composed of cash and stock rewards. However, for external directors, considering their duties, they are not eligible for performance-based compensation and receive only fixed compensation.

    • (2) Policy on determining individual amounts of basic compensation (monetary compensation), including its conditions and timings.

      The basic compensation of our directors is fixed based on their roles and responsibilities, and it is provided on a monthly basis during their tenure.

    • (3) Policy on the content, amount or calculation method of performance-linked compensation and non-monetary compensation, including its conditions and timings.

      The performance-linked compensation of our directors consists of cash and stock rewards. The stock rewards are provided through a performance-linked stock reward system called the "Board Benefit Trust (BBT)", where the company's shares are acquired through a trust funded by monetary contributions from the company, and an equivalent amount of cash based on the value of the shares is disbursed through the trust. The performance-linked compensation fluctuates based on overall company performance and individual performance. Specifically, the compensation amount is determined by multiplying the payment rate, which varies within the range of 0% to 150% based on the evaluation of overall company performance and individual performance according to predefined criteria. The indicators related to overall company performance adopt consolidated ordinary profit and other measures, and the payment rates corresponding to the indicators are determined using plan-to-actual and year-on-year comparisons. These indicators are comprehensively reviewed as appropriate, taking into consideration management goals, stakeholder expectations and requests, economic conditions, and social environment. The Nomination and Remuneration Committee, with external directors as key members, provides advice and recommendations on the indicators.
      Regarding the timing of receiving performance-linked compensation, cash rewards are received in the month immediately following the period from July to the following June each year, while stock rewards are generally received upon the director's retirement. However, the right to receive stock rewards may be partially or entirely forfeited by a decision of the Board of Directors in cases of significant violations of company regulations during the tenure. The actual performance of consolidated ordinary profit for the current fiscal year is disclosed in the Securities Report available at the following URL:

    • (4) Policy on determining the ratio of monetary compensation, performance-linked compensation, and non-monetary compensation to the compensation amount for individual directors:

      The ratio between fixed compensation and performance-linked compensation is determined based on the expectations of roles, ranging from 70:30 to 60:40. The ratio between cash rewards and stock rewards within the performance-linked compensation is set between 1:1 to 2:1. The determination of these ratios is periodically reviewed, taking into account stakeholder expectations and requests, economic conditions, social environment, and other factors. The Nomination and Remuneration Committee, with external directors as key members, provides advice and recommendations for the determination of these ratios.

    • (5) Matters concerning the decision on individual director compensation:

      The determination of individual compensation falls within the approved total amount of compensation at the General Meeting of Shareholders and is delegated to the President and Director based on resolutions of the Board of Directors. To ensure appropriate exercise of this authority by the President and Director, compensation decisions are made in accordance with a remuneration system formulated in advance, taking into account the advice and recommendations of the Nomination and Remuneration Committee. As for the compensation of executive management, a policy and system similar to that of directors (excluding external directors) are established, and individual compensation is determined through discussions between the President and Director and the Chairperson, following the remuneration system formulated in advance and the advice and recommendations of the Nomination and Remuneration Committee.

      Furthermore, the individual compensation of directors (including audit members) is determined within the approved total amount of remuneration at the General Meeting of Shareholders through discussions among all members of the Audit and Supervisory Committee.

Compensation of Directors and Auditors

Compensation of Directors and Auditors

Classification Total amount of compensation Total amount of compensation by type Number of directors and auditors subject to the rule
Fixed compensation Performance-linked compensation
Bonus cash Stock compensation
Directors (excluding Audit & Supervisory Committee Members)
(External Directors)		 297 million yen
(26 million yen)		 213 million yen
(26 million yen)		 41 million yen
(-)		 42 million yen
(-)		 16
(6)
Directors (Audit & Supervisory Committee Members)
(External Directors)		 59 million yen
(27 million yen)		 59 million yen
(27 million yen)		 - - 5
(3)
Audit & Supervisory Board Member
(External Auditors)		 17 million yen
(8 million yen)		 17 million yen
(8 million yen)		 - - 5
(3)
Total
(External Directors)		 374 million yen
(62 million yen)		 290 million yen
(62 million yen)		 41 million yen
(-)		 42 million yen
(-)		 22
(9)
(Note)
  1. The table includes 7 directors (including 3 outside directors) and 5 Audit & Supervisory Board Members (including 3 external Audit & Supervisory Board Members) who retired as of the conclusion of the 62nd Regular General Meeting of Shareholders held on June 24, 2022. Since then, our company transitioned from a company with an Audit and Supervisory Board to a company with an Audit and Supervisory Committee. The "Total" row indicates the actual number of recipients.
  2. The number of officers eligible for performance-linked compensation is 8 directors (excluding external directors). Furthermore, at the 57th Regular General Meeting of Shareholders held on June 27, 2017, the introduction of the performance-linked stock reward system "Board Benefit Trust (BBT)" was approved, and the compensation framework for stock options was abolished. Since then, no new stock options have been granted to directors.
  3. Performance-linked compensation is composed of cash rewards and stock rewards, as stated in the section "Policy regarding individual compensation of Directors (excluding external directors those who are members of Audit and Supervisory Committee)." The calculation method for performance-linked compensation is based on overall company performance and individual performance. Specifically, it is determined by multiplying the payment rate, which varies within the range of 0% to 150% based on the evaluation of overall company performance and individual performance according to a predefined benchmark for each position. The selected indicator for calculation is consolidated ordinary profit, which represents the company's earning power. The actual performance of consolidated ordinary profit for the current fiscal year is stated in the following "Consolidated Financial Statements".
  4. The limit for director compensation before transitioning of the Audit and Supervisory Committee system was determined at the 59th Regular General Meeting of Shareholders held on June 25, 2019, with an annual cap of up to 480 million yen (including up to 60 million yen for outside directors). The number of directors at the conclusion of that Regular General Meeting was 13 (including 5 external directors).
    Furthermore, the limit for audit members' compensation before transitioning to the Audit and Supervisory Committee system was determined at the 50th Regular General Meeting of Shareholders held on June 25, 2010, with an annual cap of up to 90 million yen. The number of Audit and Supervisory committee members at the conclusion of that Regular General Meeting was 5.
  5. The maximum limit of compensation for directors (excluding directors who are members of Audit and Supervisory Committee) after transitioning to the Audit and Supervisory Committee system was resolved at the 62nd Regular General Meeting of Shareholders held on June 24, 2022, to be within 450 million yen per year (including up to 50 million yen for external directors). At the conclusion of the General Meeting of Shareholders, there were 8 directors (including 2 external directors) on the board.
    Furthermore, the maximum limit of compensation for directors (Audit and Supervisory Committee members) after transitioning to the Audit and Supervisory Committee system was resolved at the 62nd Regular General Meeting of Shareholders held on June 24, 2022, to be within 120 million yen per year. At the conclusion of the General Meeting of Shareholders, there were 5 directors (including 3 external directors) on the board.
    In addition to these compensation limits, at the 62nd Regular General Meeting of Shareholders held on June 24, 2022, it was decided to allocate contributions to a trust, known as the Performance-Linked Stock Reward System "Board Benefit Trust (BBT)", with an upper limit of 860 million yen (including 310 million yen for directors) every 3 fiscal years for directors (excluding directors who are audit members and outside directors) and executive officers. At the conclusion of the General Meeting of Shareholders, there were 6 directors on the board.
  6. In our company, as stated in the "Policy regarding individual compensation of Directors (excluding directors those who are Audit and Supervisory Committee members)", the President and Director, Tetsuo Iimori, determines the individual fixed and performance-linked compensation of directors (excluding directors those who are Audit and Supervisory Committee members) within the approved total compensation amount at the General Meeting of Shareholders, based on a delegation resolution by the Board of Directors. This authority is delegated to the President and Director because he/she can evaluate the performance of the respective divisions of each director (excluding directors those who are Audit and Supervisory Committee members), taking into account the overall performance of the company. To ensure the appropriate exercise of this authority by the President and Director, it is stipulated that the compensation decisions should be made in accordance with the compensation system formulated in advance and after considering the advice and recommendations of the Nomination and Remuneration Committee. Therefore, the Board of Directors determines and ensures that the content of the compensation aligns with this policy.
  7. The individual compensation for directors (including directors those who are Audit and Supervisory Committee members) is determined within the approved total compensation amount at the General Meeting of Shareholders through discussions among all members of the Audit and Supervisory Committee.

For more details, please refer to page 36 and onwards of the "Notice of Convocation of the 63rd Ordinary General Meeting of Shareholders":

Ensuring diversity among core personnel in the company

Approach to Promoting Diversity

Amidst the declining birth rate, aging population, and population decrease in Japan, our company has been committed to promoting and fostering diversity, including securing the necessary talent for business growth, promoting women's empowerment, employing individuals with disabilities, supporting sexual minorities such as LGBTQ individuals, and providing career support for the senior workforce. While continuing these efforts, we aim to actively recruit and develop talent with diverse values, perspectives, and expertise, without being limited to factors such as gender or nationality, in order to adapt to rapid environmental changes and ensure the sustainable growth of our company.

Voluntary and Measurable Goals

To promote women's empowerment, our company is working on creating an environment where female employees can grow and thrive. Additionally, we are implementing initiatives for developing women leaders, including role-based training programs, management training, and development programs for candidates in senior positions (general manager level). Moving forward, we will further enhance our efforts to eliminate unconscious biases that hinder employees' growth opportunities through training and other measures.

Female Managerial Representation

Current (April 2023) Target (Until March 2025) Target (Until March 2027)
Senior manager-level and above 26.2％ 27％ 30％
General Manager-level 6.7％ 9％ 12％

Click here for more on our efforts to promote women's empowerment:

Regarding experienced professionals and foreign employees, we do not have specific targets. However, we have strengthened our efforts in hiring experienced professionals since April 2022 and have employed over 70 external candidates in FY 2022. Additionally, as our overseas business expands, we are enhancing the recruitment and development of foreign employees across the entire group, including local subsidiaries. In our local subsidiaries, over 90% of managerial positions are already held by local hires. We will continue to work towards ensuring that experienced professionals and foreign employees can actively contribute as key personnel.

Talent Development Policies and Current Status on Diversity Promotion

Our company has established a Human Resource Management Policy as a fundamental principle of our talent strategy. We prioritize individuality and foster diversity, supporting each employee's independent career development. Specifically, starting from FY 2022 and over a period of 3 years, we will provide new experiences both within and outside the company to approximately 200 employees through external training at innovative and startup companies, external side jobs, and internal job postings. We will offer opportunities for personal growth that contribute to self-improvement, such as cultivating DX (Digital Transformation) talent and enhancing self-learning programs.
In FY 2022, more than 3,000 employees have already completed the DX Promotion Talent Junior Program and received certification. Furthermore, we have also launched the DX Promotion Talent Intermediate Program for those with more experience.
Additionally, to establish a win-win relationship where both the company and employees can grow, we conduct surveys regularly to understand the state of employee engagement and strive for continuous improvement in employee engagement.
Click here for the Human Resource Management Policy:

Click here for the implementation status of specific education programs:

Internal Environment Development Policies and Current Status on Diversity Promotion

Our company recognizes that accepting and leveraging the diverse thoughts, perspectives, and values of each employee enhances employee engagement and ultimately improves our competitiveness and corporate value. Based on this understanding, we have established the Inclusion & Diversity Basic Policy.
We have established the Inclusion & Diversity Promotion Office, a dedicated department responsible for planning and promoting inclusion and diversity initiatives. We have also developed an Annual Action Plan for promoting inclusion and diversity to accelerate our efforts in this area.
Click here for the Inclusion & Diversity Basic Policy:

Strengthening Internal Controls

In order to ensure that the execution of directors' duties complies with laws and the Articles of Incorporation, and to ensure the appropriateness of other operations (internal control system), our company has developed the Basic Policy on Internal Control System through board resolutions. Additionally, the operation status of the internal control system, including compliance and risk management, is reviewed by the Board of Directors.
Furthermore, our Audit and Supervisory Committee audits the legality and appropriateness of business execution, as well as the establishment and operation status of the internal control system, through activities such as receiving business reports from the operating departments, collaborating with the Internal Auditing Group, Risk Management Group, and Compliance Group, and gathering information from the internal reporting system.

Guidelines Concerning Minority Shareholders Protection Policy in Transactions with Controlling Shareholders

Our company does not have a controlling shareholder as defined by the Tokyo Stock Exchange. However, it is a consolidated subsidiary of Mizuho Financial Group (MHFG), including Mizuho Bank, Ltd., which holds approximately 49% of the shares, and Itochu Corporation, which holds approximately 16% of the shares.
We conduct our business activities with the support of business collaboration with MHFG and Itochu Corporation, as well as funding arrangements centered around Mizuho Bank, Ltd., our main bank.

On the other hand, we value independence from major shareholders and the protection of the collective interests of shareholders. To ensure this, we have established the Conflict of interest Management Committee, a consultative body to the Board of Directors, which is composed of a majority of independent outside directors. This committee reviews important transactions with our major shareholders. Additionally, we conduct an annual investigation into transactions with our major shareholders, and report significant findings to the Board of Directors while ensuring appropriate disclosure in accordance with laws and regulations.

Matters Related to Takeover Defense

Currently, our company considers the possibility of a hostile takeover to be low and has not implemented specific anti-takeover measures. However, we will consider effective countermeasures against hostile takeovers as necessary and on a case-by-case basis.

Policy on Compliance with the Corporate Governance Code

Our company is listed on the Tokyo Stock Exchange Prime Market and has chosen to establish the Audit and Supervisory Committee. As of the end of March 2023, we have implemented all the principles outlined in the Corporate Governance Code.

For more details, please refer to our "Corporate Governance Report":

Governance Structure Details

  1. Board of Directors

    Our Board of Directors consists of 13 members, including 8 directors (excluding directors those who are Audit and Supervisory Committee members) and 5 directors who are members of the Audit and Supervisory Committee. Additionally, we disclose a "skill matrix" that outlines the knowledge, experience, and abilities of directors. We make sure that external directors consist more than one-third of the Board of Directors to ensure the objectivity and transparency of multi-faceted discussions and decision-making.
    In accordance with the Articles of Incorporation, we delegate certain important business execution decisions (excluding matters stipulated in Article 399-13, Paragraph 5 of the Companies Act) to the President and Director, which enables swift decision-making in management and allows the Board of Directors to focus on key discussions, such as formulating management policies and strategies.

    (Nomination and Remuneration Committee)
    Our Nomination and Remuneration Committee serves as an advisory body to the Board of Directors. It consists of 1 internal director and 2 external directors, totaling 3 members. The committee deliberates on matters related to the appointment and remuneration of officers as requested by the Board of Directors.

    (Conflict of Interest Management Committee)
    Our Conflict of Interest Management Committee serves as an advisory body to the Board of Directors. It consists of 1 internal director and 2 external directors, totaling 3 members. The committee deliberates on significant transactions with our major shareholders.


  2. Audit and Supervisory Committee

    Our Audit and Supervisory Committee consists of 5 directors. Among them, 2 members are full-time Audit and Supervisory Committee members and 3 members are external directors. In order to support the audit activities of the Audit and Supervisory Committee, we have established a dedicated Audit and Supervisory Committee Office and the Audit and Supervisory Committee collaborates with the Internal Auditing Group to establish a robust system for conducting appropriate audits.


  3. Business Execution Structure

    Our company places importance on the Board of Directors for strategic planning and supervisory functions, while delegating the authority for business execution to the maximum extent to the President and Director. Additionally, to ensure the President and Director can make informed decisions, we have established various advisory bodies, such as the "Executive Management Meeting", "Operational Auditing Committee", "Sustainability Committee", "Comprehensive Risk Management Committee", and "Compliance Committee", These bodies serve as consultative bodies for the President and Director, allowing us to establish a framework for appropriate decision-making.

    (Executive Management Meeting)
    The Executive Management Meeting is held to discuss pre-deliberation on matters to be submitted to the Board of Directors and important matters related to business execution and operation based on the policies determined by the Board of Directors regarding management. The current chair is the President and Director (Tetsuo Iimori), and it consists of all division heads and group heads.

    (Operational Auditing Committee)
    The Operational Auditing Committee is established to enhance internal auditing by deliberating on important matters related to internal audits. The current chair is the President and Director (Tetsuo Iimori), and it consists of 4 members. The activities of internal audits are regularly reported to the Board of Directors.

    (Sustainability Committee)
    The Sustainability Committee is established to deliberate on important matters related to sustainability. The current chair is the President and Director (Tetsuo Iimori), and it consists of 20 members. The progress in sustainability initiatives is regularly reported to the Board of Directors.

    (Comprehensive Risk Management Committee)
    The Comprehensive Risk Management Committee is established to comprehensively understand and manage various risks. The current chair is the Senior Managing Executive Officer (Tetsuro Mizuno), and it consists of 18 members. The status of risk management is regularly reported to the Board of Directors and the Executive Management Meeting.

    (Compliance Committee)
    The Compliance Committee is established to promote compliance within the company and its subsidiaries and enhance corporate value as a company that contributes to society. The current chair is Managing Executive Officer (Satoshi Murata), and it consists of 18 members. The progress in compliance initiatives is regularly reported to the Board of Directors and the Executive Management Meeting.

    (ALM Committee)
    The ALM (Asset and Liability Management) Committee is established to properly control market risk and funding liquidity risk. The current chair is Senior Managing Executive Officer (Tetsuro Mizuno), and it consists of 5 members. The activities of the committee are regularly reported to the Executive Management Meeting.

    (Credit Committee)
    The Credit Committee is established to deliberate on important matters related to proper credit management and strengthening the management of affiliated stores. The current chair is a Senior Managing Executive Officer (Yoshinori Yokoyama), and it consists of 9 members. The activities of the committee are regularly reported to the Executive Management Meeting.

    (New Business and New Products Committee)
    The New Business and New Products Committee is established to evaluate and verify risks related to significant new business ventures and new products. The current chair is a Managing Executive Officer (Shinya Uda), and it consists of 9 members. The activities of the committee are regularly reported to the Executive Management Meeting.

    (IT Strategy Committee)
    The IT Strategy Committee is established to deliberate on important IT strategies, IT investment plans, and IT investment projects. The current chair is a Senior Managing Executive Officer (Ichiro Watanabe), and it consists of 13 members. The activities of the committee are regularly reported to the Executive Management Meeting.

    (Human Rights Promotion Committee)
    The Human Rights Promotion Committee is established to deliberate on important matters related to human rights. The current chair is a Managing Executive Officer (Hideyuki Matsuoka), and it consists of 11 members. The activities of the committee are regularly reported to the Executive Management Meeting.

Sustainability