Fuji Nihon Signs Liability Limitation Contracts With Outside Directors and Auditors

TOKYO, Jun 23 (Pulse News Wire) – Fuji Nihon Corporation (2114.T) signed liability limitation contracts with its outside directors and auditors based on provisions in its articles of incorporation. The agreements were concluded, following the 103rd regular shareholders' meeting held on the same day.

The contracts involve outside director Tsutomu Sudo and outside auditor Kazutoshi Fujimoto. According to Article 31 and Article 41 of Fuji Nihon's articles of incorporation, the company can enter into such contracts with non-executive directors and auditors to limit their liability for damages resulting from negligence in performing their duties.

However, the extent of this limited responsibility is set by law. This move underscores Fuji Nihon’s commitment to ensuring clear delineation of responsibilities among its board members and enhancing governance standards within the organization.