System Location Co.,Ltd. [2480.T]
TOKYO, May 01 (Pulse News Wire) – System Location CO.,LTD. (2480.T) announced today that its board of directors decided to transition to an audit committee structure effective June 24, 2026.
The company plans to propose necessary changes to its articles of incorporation at its upcoming 58th annual shareholders' meeting scheduled for June 24, 2026. The move aims to enhance supervisory functions within the board of directors and strengthen corporate governance. As part of the transition, the company will establish provisions related to audit committees and remove existing regulations concerning audit boards. Additionally, the company will introduce provisions allowing non-executive directors to enter into liability limitation agreements, subject to approval by each auditor.
Furthermore, to facilitate flexible capital and dividend policies, the company intends to implement provisions enabling the board of directors to decide on surplus distribution without shareholder resolution, based on Company Law Article 459, Paragraph 1. Other amendments include adjustments to director and auditor term lengths and the removal of certain sections related to auditors. The proposed changes aim to reinforce oversight mechanisms and improve overall corporate management standards. Detailed information on post-transition personnel appointments will be disclosed separately.
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