TOKYO, Mar 27 (Pulse News Wire) – Nichirin CO.,LTD. (5184.T) announced today that it has entered into a liability limitation agreement with its auditors based on the provisions of its articles of incorporation.
The agreement was signed with Yasuo Yamamoto, a permanent auditor of the company. According to Article 42, Paragraph 1 of the company's articles of incorporation, Nichirin CO.,LTD. is permitted to enter into such agreements with its auditors under Article 427, Paragraph 1 of the Companies Act.
The responsibility limit amount stipulated in the contract adheres to the legal regulations set forth. This move underscores the company’s commitment to maintaining robust governance structures and ensuring clear delineation of responsibilities within its management framework. The liability limitation agreement provides protection for the auditors against potential damages resulting from negligence while performing their duties, subject to the limits defined by law.
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