Gun Ei Chemical Industry Co.,Ltd. [4229.T]
TOKYO, Apr 17 (Pulse News Wire) – Gun Ei Chemical Industry CO.,LTD. (4229.T) announced today that its board of directors has resolved to propose amendments to the company's articles of incorporation at the upcoming 109th regular shareholders' meeting scheduled for April 17, 2026.
The proposed changes aim to ensure the appointment of a replacement audit committee member during shareholder meetings in case the number of such members falls below legal requirements. Additionally, the amendment seeks to enhance stability by aligning the term of office for appointed replacements with the two-year tenure of audit committee members. Key details of the amendment include: - Appointment of a replacement audit committee member through shareholder resolution.
- Requirement for resolutions to appoint directors, including audit committee members, to be passed by more than half of the voting rights held by attending shareholders representing at least one-third of total voting rights. - Prohibition of cumulative voting for director appointments. - Clarification that the effectiveness of the appointment of a replacement audit committee member shall last until the beginning of the next regular shareholders' meeting within two years from the end of the fiscal year in which the appointment was made.
The amended articles of incorporation are expected to take effect on April 17, 2026.
🟡 Confidence: Standard AI-translated content.