Tokyo Cosmos Electric Co.,Ltd. [6772.T]
TOKYO, Jun 23 (Pulse News Wire) – Tokyo Cosmos Electric CO.,LTD. (6772.T) reported today on several improvements made in response to recommendations outlined in a special committee's investigative report released January 15, 2026.
The company corrected past disclosure documents due to inaccuracies and misleading statements identified in the report. Additionally, the Nomination and Remuneration Committee was strengthened to ensure more transparent processes for successor planning, candidate selection, and executive compensation discussions. New directors were appointed during the annual shareholders' meeting held today, solidifying changes aimed at enhancing oversight functions. Furthermore, the board chairman role was separated from the CEO position to improve monitoring effectiveness.
An independent director now serves as the board chairman. Regarding the Audit and Supervisory Board, an external director resigned effective December 24, 2025, and three new members were appointed, increasing the total number to four. The company also initiated legal actions against advisors who gave inappropriate advice during the acquisition proposal process, seeking repayment or reduction of fees paid to TransCapital Corporation, Kōwa Law Office, and Mitsubishi UFJ Trust and Banking Corporation. Former executives Masaru Iwasaki and Hideomi Nakajima faced requests for partial return of their remuneration.
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