TOKYO, Mar 25 (Pulse News Wire) – Northsand,inc. (446A.T) resolved at its board meeting held on March 25 to propose amendments to its articles of incorporation at its upcoming annual general meeting scheduled for April 28.
The changes aim to strengthen governance by transitioning from an audit committee structure to an audit oversight committee framework, enabling more flexible capital and dividend policies through additional resolutions allowing board approval for surplus distribution. Other adjustments include necessary wording corrections.
Key changes involve establishing provisions for audit oversight committee members within the board, removing existing audit committee-related clauses, and setting up mechanisms for determining compensation and responsibilities for directors and non-audit committee directors separately. Additionally, the amendment allows for important business decisions to be delegated to individual directors based on board resolution.
The effective date for these amendments is set for April 28, pending shareholder approval.
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