Orient: Amends Articles of Incorporation Following Shareholder Meeting Approval

TOKYO, Mar 24 (Pulse News Wire) – Orient Corporation (8585.T) announced today that its board of directors had approved changes to the company's articles of incorporation aimed at enhancing corporate governance. The amendments were proposed during a board meeting held on May 13, 2025, and subsequently ratified at the company’s 65th Annual General Meeting of Shareholders on June 25, 2025.

The primary objective of the amendment is to strengthen the company’s corporate governance framework by clearly separating the supervisory functions of the board from its executive roles. Specifically, the revised articles allow for the appointment of a non-executive director as chairman of the board, distinct from the role of president, to enhance oversight capabilities. Key provisions of the amended articles include: - Under Article 24 of Chapter IV, which pertains to the convocation rights and chairmanship of board meetings, the board now allows for the designation of a non-executive director to convene and chair meetings, rather than solely relying on the president for these duties.

- In cases where the president is unable to perform their duties, the designated non-executive director will take over the responsibilities of convening and chairing board meetings according to a predetermined sequence established by the board. The effective date for these changes was set for June 25, 2025, coinciding with the approval at the annual shareholder meeting. Regarding the delay in disclosing the resolution, the company acknowledged that insufficient verification led to the postponement of the initial announcement.

It pledged to ensure timely and accurate future disclosures, expressing deep regret for any inconvenience caused by the delay.