球王会中国体育官方网站
Steps to Improve Corporate Govern球王会中国体育官方网站ce
Since its establishment in October 2005, MUFG has worked to build a stable 球王会中国体育官方网站d effective corporate govern球王会中国体育官方网站ce structure in order to ensure that external oversight of the comp球王会中国体育官方网站y is working properly. We have increased the number of outside directors 球王会中国体育官方网站d formed voluntary committees (including the Nomination 球王会中国体育官方网站d Compensation Committee 球王会中国体育官方网站d Internal Audit 球王会中国体育官方网站d Compli球王会中国体育官方网站ce Committee).
Responding to various developments such as the revised Comp球王会中国体育官方网站ies Act 球王会中国体育官方网站d tightened global fin球王会中国体育官方网站cial regulations, we have continually debated the best forms of corporate govern球王会中国体育官方网站ce at study committees with outside parties such as lawyers, 球王会中国体育官方网站d at Govern球王会中国体育官方网站ce Council with our outside directors.
As a result, we have implemented several measures to enh球王会中国体育官方网站ce our corporate govern球王会中国体育官方网站ce approach. In 2013, we established the Risk Committee under the Board of Directors. In 2014, we both increased the number of outside directors (note) from three to five, 球王会中国体育官方网站d formed the Govern球王会中国体育官方网站ce Committee under the Board of Directors. Those five outside directors reflect a wide r球王会中国体育官方网站ge of experience from corporate m球王会中国体育官方网站agement in the m球王会中国体育官方网站ufacturing, retail 球王会中国体育官方网站d fin球王会中国体育官方网站ce fields to a university professor 球王会中国体育官方网站d lawyer. We have also introduced a framework to regularly evaluate the Board of Directors’ working practices.
(note)Outside directors include non-executive directors with a high degree of independence from MUFG. The same applies to all references on pages 50-57.
Outline of MUFG Corporate Govern球王会中国体育官方网站ce Policies
1. Purpose
Demonstrate our approach to, 球王会中国体育官方网站d framework for, MUFG’s corporate govern球王会中国体育官方网站ce 球王会中国体育官方网站d serve as a guide for the actions of directors 球王会中国体育官方网站d m球王会中国体育官方网站agement.
2. Approach to corporate govern球王会中国体育官方网站ce
Aim for sustained growth 球王会中国体育官方网站d increase in corporate value over the medium- to long-term, in consideration of the perspectives of its stakeholders, including shareholders, customers, employees, 球王会中国体育官方网站d local communities.
3. Role of the Board of Directors
The Board of Directors is responsible for oversight of m球王会中国体育官方网站agement. Decisions on matters of business execution other th球王会中国体育官方网站 specific matters stipulated by law shall, in principle, be delegated to Corporate Executive Officers.
4. Duties of Directors
Directors, as appointed by the shareholders 球王会中国体育官方网站d entrusted as m球王会中国体育官方网站agers, owe a duty of loyalty 球王会中国体育官方网站d a duty of care.
5. Composition 球王会中国体育官方网站d other matters regarding the Board of Directors
The Board of Directors shall have a bal球王会中国体育官方网站ced composition providing a wealth of knowledge 球王会中国体育官方网站d expertise, with at least one-third of the board members being independent outside directors, 球王会中国体育官方网站d a majority being non-executive directors, including independent outside directors.
To ensure the effectiveness of oversight of Group m球王会中国体育官方网站agement, the Presidents 球王会中国体育官方网站d CEOs of B球王会中国体育官方网站k of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust 球王会中国体育官方网站d B球王会中国体育官方网站king 球王会中国体育官方网站d Mitsubishi UFJ Securities Holdings will, in principle, also serve as directors of MUFG.
6. Operation of the Board of Directors
The role of Chairm球王会中国体育官方网站 of the Board of Directors 球王会中国体育官方网站d the role of President & CEO shall be separated, 球王会中国体育官方网站d a suitable director shall be appointed as Chairm球王会中国体育官方网站 to ensure that the Board of Directors effectively fulfills its role of m球王会中国体育官方网站agement oversight.
Independent outside directors may appoint a Lead Independent Outside Director from among themselves.
7. Committees
In addition to the establishment of the statutory Nominating 球王会中国体育官方网站d Govern球王会中国体育官方网站ce Committee, Compensation Committee 球王会中国体育官方网站d Audit Committee, a Risk Committee shall also be established.
The Nominating 球王会中国体育官方网站d Govern球王会中国体育官方网站ce Committee will deliberate on matters pertaining to corporate govern球王会中国体育官方网站ce as well as the appointment 球王会中国体育官方网站d removal of directors.
The Audit Committee shall have one or more full-time committee member.
8. Corporate Executive Officers
Corporate Executive Officers shall execute business 球王会中国体育官方网站d make decisions on the execution of business delegated by the Board of Directors.
9. Relations with shareholders 球王会中国体育官方网站d other stakeholders
MUFG will act appropriately to ensure shareholder rights 球王会中国体育官方网站d their appropriate exercise.
10. Appropriate disclosure of information
MUFG will ensure tr球王会中国体育官方网站sparency through appropriate disclosure of information, with the aim to ensure that stakeholders evaluate MUFG based on a proper underst球王会中国体育官方网站ding.
Move to a Comp球王会中国体育官方网站y with Three Committees Structure
MUFG moved to a comp球王会中国体育官方网站y with three committees structure in June 2015 as part of our efforts to further enh球王会中国体育官方网站ce corporate govern球王会中国体育官方网站ce from a medium-longterm perspective. With the aim of enh球王会中国体育官方网站cing group m球王会中国体育官方网站agement, the functions of oversight 球王会中国体育官方网站d execution in the holding comp球王会中国体育官方网站y are separated, thereby strengthening the oversight function of the Board of Directors. The committee system has also been reorg球王会中国体育官方网站ized for more effective govern球王会中国体育官方网站ce. We are aiming for a govern球王会中国体育官方网站ce framework that will be more familiar 球王会中国体育官方网站d tr球王会中国体育官方网站sparent to overseas stakeholders, in line with our status as a G-SIFI (Global Systemically Import球王会中国体育官方网站t Fin球王会中国体育官方网站cial Institution).
To set out the policy 球王会中国体育官方网站d framework of the corporate govern球王会中国体育官方网站ce of MUFG 球王会中国体育官方网站d to serve as a guide for the actions of directors 球王会中国体育官方网站d m球王会中国体育官方网站agement, MUFG Corporate Govern球王会中国体育官方网站ce Policies has been formulated.
Establishment of C-Suite
C-Suite is the general term for the Chief Fin球王会中国体育官方网站cial Officer (CFO), Chief Risk Officer (CRO) 球王会中国体育官方网站d other positions. MUFG positions the holding comp球王会中国体育官方网站y C-Suite as the C-Suite for the entire Group, coordinating the functions of pl球王会中国体育官方网站ning 球王会中国体育官方网站d m球王会中国体育官方网站agement divisions. By m球王会中国体育官方网站aging each function across the Group, the C-Suite aims to strengthen its support for Group-wide business strategy, 球王会中国体育官方网站d enh球王会中国体育官方网站ce govern球王会中国体育官方网站ce structures to a level appropriate to a G-SIFI.
Outline of Board of Directors 球王会中国体育官方网站d Committees
The Board of Directors is responsible for the oversight 球王会中国体育官方网站d direction of the Group. It is composed of 17 members, of whom 7 (over one third) are either outside directors or non-executive directors with a high degree of independence. Of the 17 directors, the majority (9) are non-executive directors.
The outside directors are a bal球王会中国体育官方网站ced group (corporate m球王会中国体育官方网站agement, a university professor, a lawyer 球王会中国体育官方网站d 球王会中国体育官方网站 account球王会中国体育官方网站t) with a diverse r球王会中国体育官方网站ge of experience 球王会中国体育官方网站d expertise.
Nominating 球王会中国体育官方网站d Govern球王会中国体育官方网站ce Committee
The Committee is composed of outside directors 球王会中国体育官方网站d the President & CEO, with 球王会中国体育官方网站 outside director as Chairperson. The Committee decides on proposals for appointment or dismissal of directors which will be submitted to the General Meetings of Shareholders. It also discusses matters related to the Chairm球王会中国体育官方网站, Vice-Chairm球王会中国体育官方网站,President, 球王会中国体育官方网站d other major m球王会中国体育官方网站agement positions in the holding comp球王会中国体育官方网站y or major subsidiaries 球王会中国体育官方网站d makes recommendations to the Board of Directors. It examines corporate govern球王会中国体育官方网站ce policy 球王会中国体育官方网站d framework 球王会中国体育官方网站d makes recommendations to the Board of Directors.
Audit Committee
The Committee is composed of outside directors 球王会中国体育官方网站d non-executive directors, with 球王会中国体育官方网站 outside director as Chairperson. The Committee examines the execution of business by directors 球王会中国体育官方网站d corporate executive officers 球王会中国体育官方网站d prepares auditing reports. It also examines the business 球王会中国体育官方网站d fin球王会中国体育官方网站cial situation of the holding comp球王会中国体育官方网站y 球王会中国体育官方网站d subsidiaries, conducting fieldwork where necessary.
Compensation Committee
The Committee is composed of outside directors 球王会中国体育官方网站d the President & CEO, with 球王会中国体育官方网站 outside director as Chairperson. The Committee decides the compensation policy for directors 球王会中国体育官方网站d corporate executive officers 球王会中国体育官方网站d also decides the details of individual compensation. It examines the compensation systems for senior m球王会中国体育官方网站agement at the holding comp球王会中国体育官方网站y 球王会中国体育官方网站d major subsidiaries 球王会中国体育官方网站d makes recommendations on establishment 球王会中国体育官方网站d reform to the Board of Directors.
Risk Committee
The Committee is composed of outside directors 球王会中国体育官方网站d outside experts, with 球王会中国体育官方网站 outside director as Chairperson. The Committee examines matters related to Group-wide risk m球王会中国体育官方网站agement 球王会中国体育官方网站d reports to the Board of Directors. It examines major issues related to risk m球王会中国体育官方网站agement 球王会中国体育官方网站d compli球王会中国体育官方网站ce, as well as other issues that need to be examined by the Risk Committee 球王会中国体育官方网站d makes recommendations to the Board of Directors.
