Corporate Governance


Our basic stance to corporate governance

At the time of its founding in October 1989, UNITED ARROWS LTD. defined its founding spirit as "contributing to society by setting new standards of Japanese lifestyle." The essence of this spirit has been maintained and its expressions updated to better match the times so that it can continue to function as the basis for the actions of all directors and employees as our Company Policy. In addition, we have defined our promise to society and the creation of value for five distinct stakeholders as key features of our Policy Structure. The five distinct stakeholders for which value is to be created are customers, employees, business partners, society, and shareholders. In this regard, the Company's mission is to increase value for all stakeholders.

In order to maintain the proper mindset that will allow us to realize our Company Policy, we put in place the Code of Conduct. This code expresses how we should think and act to achieve our stated goals.

Recognizing the critical need to build a transparent and fair management framework, along with a structure under which we are capable of making timely and bold decisions, we are committed to continuously strengthening and expanding our corporate governance capabilities and functions in order to realize our corporate philosophy, fulfill our promise to society, and create value for five distinct stakeholders. Through these means, we are working to enhance our corporate value on a long-term and continuous basis.

Outline of the corporate governance framework

as of June 19, 2020

Organizational format Company with an Audit and Supervisory Committee
Chairman of the Board of Directors Representative Director, President and CEO
Directors (excluding directors who are Audit and Supervisory Committee members) Six (none of whom are outside directors)
Directors who are Audit and Supervisory Committee members Three (all of whom are outside directors)
Independent officers* Three outside directors
Average age 50.2 years
Number of Board of Directors’ meetings held during
the fiscal year ended March 31, 2020
18
Number of Audit and Supervisory Board meetings held during the fiscal year ended March 31, 2020 14
Number of Nomination and Compensation Committee's meetings held during the fiscal year ended March 31, 2020 4

* Yukari Sakai, Hidehiko Nishikawa, and Yusaku Kurahashi satisfy the qualifications for independent officers stipulated by the Tokyo Stock Exchange, Inc. as well as the “Independence Determination Standards for Independent Officers” of the Company and has submitted notification of their appointments as independent officers to the Tokyo Stock Exchange, Inc.

Corporate governance framework