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Basic information of Current Board and Directors(as of March 25, 2016)

Composition ・Total Number :8
・Inside Directors’ Number : 4(50%)
・Outside Directors’ Number: 4(50%)
・Each Directors’ career and experience is shown as Notice of Ordinary General Meeting of Shareholders
Term of Office 1 year
Independency ・All outside directors satisfy the “Selection Criteria for Independent Outside Directors and Independent Outside Audit & Supervisory Board Members
・All outside directors also satisfy the requirement of Independent Officers specified in the rules of the Tokyo Stock Exchange.
Frequency of Board Meetings Once each month, and at other times whenever necessary.
Average Board Attendance Rate(FY2015) 98.3%

Roles and Responsibilities of the Board of Directors

As well as the Company’s Board of Directors performs important business execution, the Board performs supervision of business execution mainly through the actions of the independent Outside Directors for the purpose of realizing the sustainable growth of the Company and improving corporate value in the medium and long term based on the responsibilities and accountability entrusted to it by the shareholders.

Composition and Qualification Standards

The number of Directors of the Company is limited to a maximum of 12 Directors and among this number, the Company includes multiple independent Outside Directors.

To ensure the Board of Directors fulfills their roles and responsibilities, the respective Directors should be suitable individuals who can realize the Company’s management philosophy and execute business strategies, and they are required to be well versed in the Company’s business, and to possess abundant experience and knowledge.

To ensure appropriate corporate governance, the Company has independently established the qualification standards and independence requirements of independent Outside Directors in the “Selection Criteria for Independent Outside Directors and Independent Outside Audit & Supervisory Board members” and candidates are nominated accordingly.

The Company ensures fairness and transparency in decisions on Director candidates by respecting the opinions of the Nomination and Compensation Committee.

Ensuring Effectiveness of the Board of Directors

The Company ensures the individual Directors fulfill their roles and responsibilities by, for example, taking the following measures:

• Deciding on an annual schedule for Board of Directors meetings at an early juncture and giving notice to Directors.

• Distributing reference materials for Board of Directors meetings beforehand.

• Explaining the details of important matters to Outside Directors beforehand.

Evaluating Effectiveness of the Board of Directors

At a decided point in time every year, the Board of Directors requires each Director and Audit & Supervisory Board member to complete questionnaires (for self-evaluation) among other requirements. This information is analyzed to evaluate the effectiveness of the Board of Directors, and a summary of these results is disclosed.

(Latest Self-Assessment Result of Board Performance)

We did self-assessment of 2015 fiscal year's board performance by all of board members, and we shared the result with all of them and discussed about it vigorously.

As a result, we assessed that the board carryed out its function of management supervision mainly because all of 4 independent directors and all of 3 independent Audit & Supervisory Board members expressed their opinion vibrantly based on their speciality and they had constructive discussions at the board.

On the other hand, we recognized that there are some points to be improved such as the standard about placed agenda and the contents of reference materials. After this, we will improve these points and strive securement of board effectiveness and improvement of board function.