{"id":2766,"date":"2025-10-29T18:00:20","date_gmt":"2025-10-29T09:00:20","guid":{"rendered":"https:\/\/www.hodogaya.co.jp\/english\/?page_id=2766"},"modified":"2026-10-29T14:55:39","modified_gmt":"2026-10-29T05:55:39","slug":"director","status":"publish","type":"page","link":"https:\/\/www.hodogaya.co.jp\/english\/company\/governance\/director\/","title":{"rendered":"Board of Directors"},"content":{"rendered":"
\n
\n
Board of Directors<\/h5>\n
Held 16 times in FY2025<\/div>\n

To enable thorough discussions based on diverse opinions and prompt, rational decision-making, the Board of Directors consists of members who possess the extensive experience, knowledge, and expertise required by the Company.
The deliberations for FY2025 are summarized in the table below, focusing on monitoring the progress of the previous Mid-term Management Plan SPEED 25\/30, addressing issues in businesses showing delayed progress, and reviewing the status of sustainability initiatives.\n<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Deliberations<\/th>\nNumber of deliberations of the Board of Directors<\/th>\n<\/tr>\n
Resolutions<\/th>\nReports<\/th>\nOthers<\/th>\n<\/tr>\n<\/thead>\n
Management strategy and businesses<\/td>\n3<\/td>\n14<\/td>\n2<\/td>\n<\/tr>\n
Sustainability<\/td>\n\uff0d<\/td>\n3<\/td>\n\uff0d<\/td>\n<\/tr>\n
Corporate governance<\/td>\n2<\/td>\n4<\/td>\n\uff0d<\/td>\n<\/tr>\n
Financial results, investor relations and finance<\/td>\n10<\/td>\n3<\/td>\n1<\/td>\n<\/tr>\n
Compliance and internal controls<\/td>\n\uff0d<\/td>\n4<\/td>\n\uff0d<\/td>\n<\/tr>\n
Committee matters<\/td>\n\uff0d<\/td>\n\uff0d<\/td>\n2<\/td>\n<\/tr>\n
Officers and management executives<\/td>\n14<\/td>\n7<\/td>\n\uff0d<\/td>\n<\/tr>\n
Others<\/td>\n\uff0d<\/td>\n1<\/td>\n2<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n
\n
Outside Director Activity Status<\/h5>\n

In FY2025, Outside Directors not only attended Board of Directors\u2019 meetings, Audit & Supervisory Committee meetings, and Nominating & Compensation Committee meetings, but also undertook the following activities.<\/p>\n

    \n
  • Attended management and executive meetings (September 2025 and March 2026)<\/li>\n
  • Inspected business sites (Koriyama, Yokohama, Nanyo, and Tsukuba) (September 2025 and other dates)<\/li>\n
  • Communicated with the Accounting Auditor (July 2025 and other dates)<\/li>\n
  • Dialogue with next-generation management talent (June 2025 to May 2026). Held five sessions, with a total of 11 participants from among next-generation management candidates<\/li>\n
  • Attended executive compliance training (March 2026)<\/li>\n<\/ul>\n<\/div>\n
    \n

    Board of Directors Skills Matrix<\/p>\n

    Seven skills have been selected for the skill matrix of the Board of Directors from the perspective of achieving the Mid-term Management Plan \u201cCODE\/CHORD 2030.\u201d<\/p>\n

      \n
    • \u30fbFour skills to perform basic functions as a company: \u201cCorporate management\u201d, \u201cLegal affairs & risk management\u201d, \u201cFinance & accounting\u201d, \u201cHuman resources strategy\u201d<\/li>\n
    • \u30fbTwo skills corresponding to the Company\u2019s core trinity (R&D, manufacturing, sales): \u201cBusiness strategy\u201d, \u201cR&D\/technology\/manufacturing\u201d<\/li>\n
    • \u30fbOne skill corresponding to the cross-border nature of the Company\u2019s business fields: \u201cInternationality\u201d<\/li>\n<\/ul>\n
      \n\n\n\n\n\n\n\n\n\n\n\n
      Name<\/th>\nCorporate
      management<\/th>\n      		Law & risk
      management<\/th>\n      		Finance &
      accounting<\/th>\n      		Human
      resources
      strategy<\/th>\n      		Business
      strategy<\/th>\n      		R&D, technology
      and production<\/th>\n      		International
      business<\/th>\n<\/tr>\n<\/thead>\n
      Yuto Matsumoto<\/td>\n\u3007<\/td>\n <\/td>\n <\/td>\n\u3007<\/td>\n\u3007<\/td>\n\u3007<\/td>\n\u3007<\/td>\n<\/tr>\n
      Norimasa Yokoyama<\/td>\n\u3007<\/td>\n <\/td>\n <\/td>\n <\/td>\n\u3007<\/td>\n\u3007<\/td>\n\u3007<\/td>\n<\/tr>\n
      Shinichi Sato<\/td>\n\u3007<\/td>\n\u3007<\/td>\n\u3007<\/td>\n\u3007<\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
      Shinichi Matsuno<\/td>\n\u3007<\/td>\n <\/td>\n <\/td>\n\u3007<\/td>\n\u3007<\/td>\n\u3007<\/td>\n <\/td>\n<\/tr>\n
      Masaki Sakai (Outside)<\/td>\n <\/td>\n <\/td>\n <\/td>\n\u3007<\/td>\n\u3007<\/td>\n\u3007<\/td>\n\u3007<\/td>\n<\/tr>\n
      Shinobu Fujino (Outside)<\/td>\n\u3007<\/td>\n\u3007<\/td>\n <\/td>\n\u3007<\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
      Akira Matsunaga (Outside)<\/td>\n <\/td>\n\u3007<\/td>\n\u3007<\/td>\n <\/td>\n\u3007<\/td>\n <\/td>\n\u3007<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

      * The skills matrix includes the areas expected for each individual. It is not meant to be a comprehensive list of all forms of expertise and experience they may possess.<\/p>\n<\/div>\n

      \n

      Reasons for appointment as director<\/p>\n

      Director<\/p>\n

      \n\n\n\n\n\n\n\n\n
      Name<\/th>\nReasons for appointment<\/th>\n<\/tr>\n<\/thead>\n
      Yuto Matsumoto<\/td>\nAfter joining the Company in April 1983, he worked in the Research & Development Department, has engaged in operations of sales department including overseas business, and became Representative Director and President of the Company in November 2016. He has extensive experience and knowledge and has been appropriately fulfilling his duties. Therefore, the Company judges that he is qualified as Director of the Company.<\/td>\n<\/tr>\n
      Norimasa Yokoyama<\/td>\nSince joining the Company in April 1988, he has engaged in operations of the research & development and production departments. He has extensive experience and knowledge as a Managing Executive Officer, supervising the Research & Development Department of the Group, and has been appropriately fulfilling his duties.Therefore, the Company judges he is qualified as Director of the Company.<\/td>\n<\/tr>\n
      Shinichi Sato<\/td>\nSince joining the Company in March 2014, he has engaged in operations of the Internal Control Department and Legal Department of the Group while utilizing his extensive experience and knowledge gained during his time in the banking field. Currently, he supervises internal control, human resources, promotion of sustainability and accounting, and has been appropriately fulfilling his duties. Therefore, the Company judges he is qualified as Director of the Company.<\/td>\n<\/tr>\n
      Shinichi Matsuno<\/td>\nSince joining the Company in April 1981, he has been widely involved in the Research & Development, Purchasing, Sales and Corporate Planning Departments and operations of a plant as General Manager, and has a wide range of business experience and knowledge at the Company and Group companies. It is expected that he can take advantage of these for the business activities of the Company and appropriately fulfill his duties. Therefore, the Company judges he is qualified as Director who is an Audit & Supervisory Committee Member.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

      Outside Directors<\/p>\n

      \n\n\n\n\n\n\n\n
      Name<\/th>\nReasons for appointment<\/th>\n<\/tr>\n<\/thead>\n
      Masaki Sakai<\/td>\nHe utilizes his extensive knowledge and experience, both that gained since his appointment as a Director who is an Audit & Supervisory Committee Member in June 2019, and that cultivated both in Japan and overseas through his business activities over many years at government ministries.
      Although he has not been directly involved in corporate management in the past, the Company expects that he will continue to appropriately fulfill his duties for the Company.
      Therefore, the Company judges he is qualified as Director who is an Audit & Supervisory Committee Member.
      The Company expects that he will utilize his experience in agriculture, forestry and fishery administration and international business, and fulfill his role of supervising Directors who have been charged with deciding the basic management direction of the Company and executing operations.
      Furthermore, the Company has submitted notification to Tokyo Stock Exchange that he has been appointed as an independent officer as provided for by the aforementioned exchange.<\/td>\n<\/tr>\n
      Shinobu Fujino<\/td>\nShe utilizes years of work experience at business corporations, expertise as a career counselor and a wide range of knowledge and experience as an outside director since her appointment as a Director who is an Audit & Supervisory Committee Member in June 2023.
      Although she has not been directly involved in corporate management in the past, the Company expects that she can continue to appropriately fulfill her duties. Therefore, the Company judges she is qualified as Director who is an Audit & Supervisory Committee Member.
      The Company expects that she will utilize her wealth of knowledge and experience in human resources development, organizational development and diversity promotion and fulfill her role of supervising Directors who have been charged with deciding the basic management direction of the Company and executing operations.
      Furthermore, the Company has submitted notification to Tokyo Stock Exchange that she has been appointed as an independent officer as provided for by the aforementioned exchange.<\/td>\n<\/tr>\n
      Akira Matsunaga<\/td>\nAlthough he has not been directly involved in corporate management in the past, the Company expects that he will utilize his extensive knowledge and experience cultivated both in Japan and overseas through his business activities over many years at government ministries, and that he will appropriately fulfill his duties for the Company.
      Therefore, the Company judges he is qualified as Director who is an Audit & Supervisory Committee Member.
      The Company expects that he will utilize his experience in industrial and economic administration and international business, and fulfill his role of supervising Directors who have been charged with deciding the basic management direction of the Company and executing operations.
      Furthermore, the Company has filed a notification with the Tokyo Stock Exchange, designating him as an independent officer in accordance with the Exchange\u2019s requirements.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n
      \n
      Criteria for independence of Outside Directors<\/h5>\n

      At Hodogaya Chemical, candidates for independent outside directors are selected based on both the Tokyo Stock Exchange\u2019s independence criteria and their broad professional experience and expertise.
      Accordingly, the Company has registered three outside directors as independent officers with the Tokyo Stock Exchange.
      If a substitute director who is also an Audit & Supervisory Committee Member is appointed as a director, the Company intends to register him as an independent officer as well.
      One of the substitute directors previously worked for a financial institution that is a major lender to Hodogaya Chemical; however, three years have passed since his retirement from that institution, and the Company has determined that this does not affect his independence.
      Furthermore, the Company does not have any transactional relationships with the three outside directors.<\/p>\n<\/div>\n

      \n

      Status of attendance at meetings of the Board of Directors, Audit & Supervisory Committee, and Nominating & Compensation Committee<\/p>\n

      \n\n\n\n\n\n\n\n\n\n\n\n
      Number of Company shares held<\/th>\nNumber of Board of Directors meetings
      attended in FY2024<\/th>\n      		Number of Audit & Supervisory
      Committee meetings attended in FY2024<\/th>\n<\/tr>\n<\/thead>\n
      Representative Director, President and CEO
      Yuto Matsumoto<\/td>\n      		16 \/ 16<\/td>\n\u30fc<\/td>\n<\/tr>\n
      Director and Managing Executive Officer
      Norimasa Yokoyama<\/td>\n      		12 \/ 12>*<\/sup><\/td>\n\u30fc<\/td>\n<\/tr>\n
      Director and Managing Executive Officer
      Shinichi Sato<\/td>\n      		16 \/ 16<\/td>\n\u30fc<\/td>\n<\/tr>\n
      Director (Audit & Supervisory Committee Member)
      Shinichi Matsuno<\/td>\n      		16 \/ 16<\/td>\n12 \/ 12<\/td>\n<\/tr>\n
      Outside Director (Audit & Supervisory Committee Member)
      Masaki Sakai<\/td>\n      		16 \/ 16<\/td>\n12 \/ 12<\/td>\n<\/tr>\n
      Outside Director (Audit & Supervisory Committee Member)
      Shinobu Fujino<\/td>\n      		16 \/ 16<\/td>\n12 \/ 12<\/td>\n<\/tr>\n
      Outside Director (Audit & Supervisory Committee Member)
      Akira Matsunaga<\/td>\n      		12 \/ 12*<\/sup><\/td>\n8 \/ 8>*<\/sup><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

      * Mr. Matsunaga has attended all meetings held since assuming office in June 2025.<\/p>\n<\/div>\n

      \n
      Evaluation of effectiveness of Board of Directors<\/h5>\n

      Hodogaya Chemical transitioned to a company with an Audit & Supervisory Committee in June 2015, delegating decisions on matters other than those requiring exclusive resolution as stipulated in the Companies Act to the President. In other words, the Hodogaya Chemical Board of Directors has adopted a monitoring-focused model emphasizing oversight.
      To verify whether this monitoring function is being effectively exercised, the Audit & Supervisory Committee and the Board of Directors conduct evaluations every year based on the following nine evaluation criteria.
      As a result, the Board of Directors\u2019 monitoring function is strengthened, and managerial decision-making and business execution are expedited.<\/p>\n<\/div>\n

      \n

      Evaluation process<\/p>\n

      \"\"\n<\/div>\n

      \n

      Evaluation Results for FY2025<\/p>\n

      \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
      Evaluation Standards<\/th>\nStatus of Initiatives<\/th>\n<\/tr>\n<\/thead>\n
      1. Election of multiple independent Outside Directors<\/span><\/td>\n\n
        \n
      • Implemented. 3 out of 7 directors are independent Outside Directors (42.9%)<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      2. Narrowing down matters for resolution<\/span><\/td>\n\n
        \n
      • Delegated decision-making on business execution, excluding matters statutorily prescribed for exclusive resolution by the Board of Directors, to the President, based on the General Meeting of Shareholders and Board of Directors resolution<\/li>\n
      • In FY2025, resolutions were passed regarding the determination of proposals for the General Meeting of Shareholders, and the appointment of Directors, etc.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      3. Establishment of appropriate reporting matters<\/span><\/td>\n\n
        \n
      • Set annual report schedule and submitted reports after expanding items to be reported as stipulated in Board of Directors Rules<\/li>\n
      • Increased efficiency of operation execution reports by compiling individual ones into a Mid-term Promotion Execution Report<\/li>\n
      • Provided individual reports and questions and requests from independent Outside Directors, which are separate from resolution and report items<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      4. Deliberation on agenda items related to personnel affairs and remuneration of Directors<\/span><\/td>\n\n
        \n
      • Based on the report by the Nominating & Compensation Committee, a resolution was passed regarding the proposal for the election of Directors to be submitted at the Annual General Meeting of Shareholders in June 2026<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      5. Provision of proper explanations beforehand to independent Outside Directors<\/span><\/td>\n\n
        \n
      • Sent agenda materials several days prior to the Board of Directors\u2019 meetings and offered preliminary explanations prior to the meetings<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      6. Preparation of informative and easy-tounderstand materials<\/span><\/td>\n\n
        \n
      • Continued efforts to create materials with attention to the comprehensiveness and ease of understanding of the information so that Outside Directors can make accurate management decisions<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      7. Appropriate time management (meeting frequency, time for deliberations, etc.)<\/span><\/td>\n\n
        \n
      • Met 15 times in FY2025, with slightly more than 2 hours per meeting<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      8. Implementation of effective and efficient organizational audits<\/span><\/td>\n\n
        \n
      • Implemented an organizational audit as a Company with an Audit & Supervisory Committee<\/li>\n
      • Established the Audit & Supervisory Committee Secretariat as a system to assist the Audit & Supervisory Committee<\/li>\n
      • Audit & Supervisory Committee met 11 times in FY2025, with approximately 1 hour for each meeting<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      9. Follow up and respond to new trends in corporate governance and the best way to operate the Board of Directors<\/span><\/td>\n\n
        \n
      • Reported on state of sustainability promotion in August and December 2025 and March 2026<\/li>\n
      • Regarding the acquisition of Framochem, for which a timely disclosure was made in March 2026, information was shared with Outside Directors and other relevant parties, and necessary steps were taken to support the Board of Directors\u2019 resolution.<\/li>\n
      • The proposed revisions to the Corporate Governance Code were covered in executive compliance training.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      Overall Evaluation for FY2025<\/td>\n\n

      As outlined in the table above, the Board of Directors satisfies the evaluation standards and achieves the following two items, leading to the evaluation that the function of the Board of Directors is being effectively exercised.<\/p>\n

        \n
      • Expedited managerial decision-making and business execution<\/li>\n
      • Enhanced the Board of Directors\u2019 monitoring function<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      Future Initiatives<\/td>\n\n
        \n
      • Make a thorough investigation of monitoring activities intended to achieve the Mid-term Management Plan CODE\/CHORD 2030<\/li>\n
      • Provide more accurate, concise, and understandable Board of Directors\u2019 meeting materials<\/li>\n
      • Continue to follow new trends, such as Financial Services Agency and advisory board trends and social trends<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

        * Evaluation period: from the conclusion of the 2025 Annual General Meeting of Shareholders to prior to the 2026 Annual General Meeting of Shareholders<\/p>\n<\/div>\n

        \n
        Election of Directors and Selection of the Representative Director and President<\/h5>\n

        Hodogaya Chemical positions the election of Directors as one of the most important matters for the Company. The Board of Directors has established selection criteria for candidates for Internal Directors and Outside Directors. The Board of Directors resolves on the selection of Director candidates and the President and CEO based on deliberations by the Nominating \uff06 Compensation Committee.<\/p>\n<\/div>\n

        \n
        Successor Development Plan<\/h5>\n

        Hodogaya Chemical provides opportunities for personnel who will lead the next generation of management to attend meetings of the Board of Directors and the Management Committee as observers, enabling them to observe management discussions firsthand and develop a management perspective. Executive Officers attend Board of Directors meetings as observers, while General Manager-level personnel attend Management Committee meetings as observers. Depending on the circumstances, they also provide explanations on agenda items and participate in question-and-answer sessions, making these meetings a forum for development that combines practical experience with learning. In addition, as part of its succession plan, the Company regularly holds dialogue sessions between Outside Directors and next-generation management candidates. Through opportunities to gain objective and multifaceted perspectives, the Company seeks to broaden the management perspective of future leaders and build a talent base that supports sustainable enhancement of corporate value.<\/p>\n<\/div>\n

        \n
        Training for Directors<\/h5>\n

        Upon assuming office, the Internal Directors of Hodogaya Chemical are provided with training to acquire knowledge of the roles and responsibilities expected of directors, laws and regulations, as well as compliance.
        Independent Outside Directors are also provided explanations of Hodogaya Chemical\u2019s business, finances, organization, and other aspects, so that they can fulfill the roles and responsibilities expected of them when they assume office. Thereafter, they deepen their understanding of the Company by visiting domestic and overseas business sites to inspect operations firsthand.
        Additionally, training sessions for directors by outside attorneys are held on a regular basis.<\/p>\n<\/div>\n

        \n
        Director Compensation Plan<\/h5>\n

        Hodogaya Chemical positions its Directors\u2019 compensation plan as a priority item for corporate governance. The basic requirements in determining the compensation of Directors include: 1. Compensation linked to performance; 2. Incentives to improve corporate value; 3. Linkage to shareholder interests; and 4. Securing and retaining talented personnel. In consideration of the above, individual director compensation is paid to directors within the range approved at the General Meeting of Shareholders. Determinations on the individual compensation of directors (excluding directors who are Audit & Supervisory Committee members) are made by resolution of the Board of Directors at the discretion of representative directors; however, bylaws stipulate that representative directors shall determine compensation amounts after deliberations by the Nominating and Compensation Committee, following the general composition ratio outlined herein. Directors who are Audit & Supervisory Committee members receive only a fixed\u2011amount base compensation in consideration of the fact that they are not involved with executive functions.<\/p>\n<\/div>\n

        \n

        Components of Director Compensation (excluding Outside Directors and Audit & Supervisory Committee Members)<\/p>\n

        \n\n\n\n\n\n\n\n\n
        Types of Director compensation<\/th>\nPayment method<\/th>\nComposition ratio<\/th>\nOverview of Director compensation<\/th>\n<\/tr>\n<\/thead>\n
        Fixed Compensation<\/td>\nCash Payment<\/td>\n60%<\/td>\nCompensation is paid based on each director\u2019s performance in fulfilling their duties, leadership, and execution of daily operations.<\/td>\n<\/tr>\n
        Performance-Based Compensation<\/td>\nShort-Term Performance-Based Compensation<\/td>\nCash Payment<\/td>\n25%<\/td>\nCompensation is paid based on the Group\u2019s performance in the previous fiscal year and the individual performance of directors (including not only quantitative performance but also contributions to corporate value).\/td>
        \n<\/tr>\n
        Medium-to Long-Term Performance-Based Compensation<\/td>\nStock Grant<\/td>\n15%<\/td>\nCompensation is paid based on the Group\u2019s medium- to long-term performance (including not only quantitative performance but also contributions to corporate value).<\/td>\n<\/tr>\n
        \n

        * Granting Company stock as compensation enables Directors to share a common perspective with shareholders. Delivering it upon a director\u2019s retirement serves as motivation for the director to enhance the corporate value of the Group during service.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n

        \n

        Total Director Compensation, etc. (FY2025)<\/p>\n

        \n\n\n\n\n\n\n\n\n\n
        Type of Director<\/th>\nTotal compensation
        (millions yen)<\/th>\n        		Totals of different types of compensation (millions yen)<\/th>\nNo. of applicable
        Directors<\/th>\n<\/tr>\n
        Base compensation
        (cash)<\/th>\n        		Performance\u2011linked compensation
        (cash)<\/th>\n        		Non\u2011monetary compensation
        (Company stock)<\/th>\n<\/tr>\n<\/thead>\n
        Directors
        (excluding Audit & Supervisory Committee Members) (excluding Outside Directors)<\/td>\n        		99<\/td>\n61<\/td>\n21<\/td>\n16<\/td>\n4<\/td>\n<\/tr>\n
        Directors who are Audit & Supervisory Committee Members
        (excluding Outside Directors)<\/td>\n        		15<\/td>\n15<\/td>\n\u2014<\/td>\n\u2014<\/td>\n1<\/td>\n<\/tr>\n
        Outside Directors<\/td>\n26<\/td>\n26<\/td>\n\u2014<\/td>\n\u2014<\/td>\n4<\/td>\n<\/tr>\n
        Total<\/td>\n140<\/td>\n102<\/td>\n21<\/td>\n16<\/td>\n9<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

        * Amounts of less than one million yen are truncated.<\/p>\n<\/div>\n<\/div>\n

        \n
        Approach to Conflicts of Interest and Related Party Transactions<\/h5>\n

        Hodogaya Chemical discloses information regarding conflicts of interest and related party transactions in its Annual Securities Report and Corporate Governance Report.
        \n
        The Company has historically governed transactions (including non-compete transactions and transactions involving conflicts of interest) with its directors and executive officers in compliance with applicable laws and regulations.
        \n
        Regarding its affiliate, KYOUDOU KASANKASUISO CORP., the Company provides debt guarantees for their borrowings from financial institutions. These guarantees are subject to approval by the Board of Directors.
        \n
        The Company reviews any related party transactions with Major shareholders, as defined under the Financial Instruments and Exchange Act, through internal approval procedures to ensure the appropriateness of the transaction terms.
        \n
        Currently, there are no related party transactions with Major shareholders.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

        Board of Directors Held 16 times in FY2025 To enable thorough discussions based on diverse opinions and prompt […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":28,"menu_order":3,"comment_status":"closed","ping_status":"closed","template":"page.php","meta":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.hodogaya.co.jp\/english\/wp-json\/wp\/v2\/pages\/2766"}],"collection":[{"href":"https:\/\/www.hodogaya.co.jp\/english\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.hodogaya.co.jp\/english\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.hodogaya.co.jp\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hodogaya.co.jp\/english\/wp-json\/wp\/v2\/comments?post=2766"}],"version-history":[{"count":12,"href":"https:\/\/www.hodogaya.co.jp\/english\/wp-json\/wp\/v2\/pages\/2766\/revisions"}],"predecessor-version":[{"id":4888,"href":"https:\/\/www.hodogaya.co.jp\/english\/wp-json\/wp\/v2\/pages\/2766\/revisions\/4888"}],"up":[{"embeddable":true,"href":"https:\/\/www.hodogaya.co.jp\/english\/wp-json\/wp\/v2\/pages\/28"}],"wp:attachment":[{"href":"https:\/\/www.hodogaya.co.jp\/english\/wp-json\/wp\/v2\/media?parent=2766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}