TOHO TITANIUM COMPANY,LIMITED [5727.T]
TOKYO, May 08 (Pulse News Wire) – Toho Titanium Company,limited (5727.T) resolved today to transition from a committee auditor system to an auditor system upon completion of its share exchange with JX Metals Co., Ltd. on June 01, 2026.
The changes, which also involve amendments to the company's articles of incorporation, are scheduled to take effect on June 18, 2026, pending approval at the annual shareholders' meeting on the same day. Under the proposed changes, TOHO Titanium will simplify its organizational structure and enhance operational efficiency by adopting an auditor system. Additionally, provisions related to electronic distribution of shareholder materials will be removed due to the loss of necessity post-share exchange.
Post-transition, the acquisition of company shares through transfers will require board approval. The revised articles of incorporation will remove clauses pertaining to audit committees and introduce provisions for auditors, setting their number at three or fewer. Other modifications include adjustments to the term lengths for directors and the removal of certain delegations of authority previously held by the audit committee.
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