NSK Receives “2019 Corporate Governance of the Year” Award
NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President & CEO: Toshihiro Uchiyama) has been selected as a “Winner Company” in the 2019 Corporate Governance of the Year Awards*1administered by the Japan Association of Corporate Directors (Chairman: Yoshihiko Miyauchi).
The Corporate Governance of the Year award was first established by the Japan Association of Corporate Directors in 2015. The award is bestowed on companies operating in Japan based on their initiatives to revamp governance structures towards realizing healthy and sustainable business growth over the mid- to long-term. Evaluation also includes measuring company compliance with the Corporate Governance Code set out by the Tokyo Stock Exchange and the Practical Guidelines for Corporate Governance Systems defined by the Ministry of Economy, Trade and Industry.
At the award ceremony in Tokyo. Yoshihiko Miyauchi (left; Chairman of Japan Association of Corporate Directors), and Saimon Nogami (right; Senior Executive Vice President of NSK).
In 2004, NSK began updating its governance structures by adopting a Nominating Committee and system to achieve appropriate separation of powers in company management, and continues to strive for excellence in governance and all areas of business management. NSK engages in many initiatives enhancing the effectiveness of its corporate governance systems, including:
Appointing five Outside Directors with specialist knowledge, broad experience, and a long reputation of ethical conduct in business.
Outside Directors accounting for more than a third of the Board of Directors.
Third-party evaluations of the Board of Directors' effectiveness.
As a result of its evaluation, the Award Committee selected NSK as a “Winner Company” for management that takes corporate governance into account and for conducting initiatives to revamp governance structures toward realizing healthy and sustainable business growth over the mid- to long-term.
Moving forward, NSK will continue to evolve and adapt its governance structures to further enhance the sustainability of the company and its operations over the long term.
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