TOKYO, May 15 (Pulse News Wire) – PORT INC. (7047.T) resolved today during its board meeting to propose amendments to its articles of incorporation at the upcoming 15th regular shareholders' meeting scheduled for May 15, 2026.
The changes aim to align fully with the Companies Act, which stipulates that the term of office for audit committee members cannot be shortened beyond two fiscal years ending within two years of their appointment. Additionally, the amendment seeks to clarify the term lengths for non-audit committee directors appointed through additional appointments or replacements.
The proposed amendments would ensure that the term of office for non-audit committee directors ends at the conclusion of the annual general meeting immediately following their appointment, while those appointed as replacements or through additional appointments would serve until the end of the terms of incumbent directors. For audit committee members, the term remains unchanged at two fiscal years post-appointment, except for replacements who would serve until the end of the previous member's term.
The shareholder meeting to approve these changes is set for May 15, 2026, with the amendments taking effect on the same day.
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