AIR Water to Transition to Audit Committee Structure Amid Accounting Issues

TOKYO, Jul 31 (Pulse News Wire) – Air Water Inc. (4088.S) has decided to transition from an audit committee structure to an audit board system, contingent upon shareholder approval at its extraordinary general meeting scheduled for September 22, 2026.

This move aims to prevent recurrence of accounting irregularities and enhance corporate governance. At a board meeting held today, the company resolved to seek shareholders' consent for necessary amendments to its articles of incorporation. The transition is aimed at restoring stakeholder trust by strengthening supervisory functions within the board.

It includes granting some decision-making powers related to business operations to directors based on Article 399, Paragraph 13, Item 6 of the Companies Act, allowing the board to focus more on long-term strategic planning and risk management. Further details on the changes to the articles of incorporation and personnel appointments will be disclosed once finalized. The extraordinary general meeting's specifics can be found in today’s separate notice regarding the continuation of the regular shareholders’ meeting and the convening of the extraordinary meeting.