Epson recognised for its transparent and fair corporate governance framework and administration.
Seiko Epson Corporation (Epson) announced that it has been named as a “Winner Company” in the Corporate Governance of the Year 2023 programme organised by the Japan Association of Corporate Directors.
The awards program was launched in the 2015 fiscal year as one of the Japanese government’s economic growth strategies. It is intended to drive the earning power of Japanese companies and to give a boost to companies that are leveraging corporate governance to achieve sound growth over the medium to long term.
Epson said it seeks to achieve its corporate purpose, a statement of the company’s reason for being and aspirations, based on the Epson Way, which is founded on Epson’s Management Philosophy and Exceed Your Vision, and sets forth our values and expectations regarding behaviour. To achieve its purpose, promote sustainable growth, and increase corporate value over the long term, Epson works continuously to enhance and strengthen corporate governance to ensure transparent, fair, timely, and decisive decision-making.
Six of the ten people on Epson’s board of directors are independent outside directors, giving them a majority. Moreover, the nomination and remuneration committees are chaired by outside directors. The company is characterised by its ingenuity in executing succession plans and improving the effectiveness of governance. Outside directors can peruse documents pertaining to matters such as medium- and long-term strategies discussed at Management Meetings by executive officers and executive officer candidates.
The company added that it also systematically arranges for outside directors to meet succession candidates.
