Espec : Notice of Transition to a Company with Audit & Supervisory Committee
December 21, 2021 at 08:13 pm
Share
December 10, 2021
Company name:
ESPEC CORP.
Representative:
Masaaki Ishida, President
Listing:
Tokyo, Stock Exchange, First section
Securities code:
6859
Inquiries:
Keiji Oshima,
Chief Officer of Corporate Control Headquarters
Telephone:
+81-6-6358-4741
Notice of Transition to a Company with Audit & Supervisory Committee
ESPEC CORP. (the "Company") hereby announces that by resolution of the Board of Directors meeting held today, the Company will transition from a "Company with Audit & Supervisory Board" to a "Company with Audit & Supervisory Committee" subject to approval at the 69th Ordinary General Meeting of Shareholders to be held in June 2022.
Description
Purpose of Transition
The Company has long been working to strengthen its corporate governance, aiming to achieve sustainable growth and improve its corporate value over the medium to long term. Seeking to enhance deliberations in the Board of Directors meetings and further strengthen the Board of Directors' supervisory functions, the Company has now decided to transition to a Company with Audit & Supervisory Committee. Under this structure, directors who are Audit & Supervisory Committee members hold voting rights in the Board of Directors.
Timing of Transition
The Company will transition to a Company with Audit & Supervisory Committee upon the approval of the necessary amendments to the Article of Incorporation at the 69th Ordinary General Meeting of Shareholders to be held in June 2022.
Other
Details regarding the transition to a Company with Audit & Supervisory Committee including amendments to the Articles of Incorporation and officers structure after the transition will be announced as soon as they are determined.
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Disclaimer
Espec Corporation published this content on 22 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2021 01:12:01 UTC.
ESPEC CORP. is a Japan-based company mainly engaged in the equipment business, service business and others. The Company operates in three business segments. The Equipment segment is engaged in the provision of environmental testing equipment, providing environmental test equipment for testing the effects of temperature, humidity, and other environmental factors on automobiles, communications, and other electronic components, energy device equipment, providing charge and discharge evaluation systems, and electrode drying device used in battery manufacturing process, as well as semiconductor-related devices. The Service segment is involved in the provision of after services, engineering services and contract testing services; the rental of environmental testing equipment. The Others segment is involved in the environmental protection business and plant growing equipment business.
ESPEC CORP. 
