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Nomination and Compensation Committee

NEC has established the Nomination and Compensation Committee to enhance transparency of nomination of Directors and Audit & Supervisory Board Members (KANSAYAKU) ("A&SBMs") and remuneration of Directors and corporate officers.The committee consists of 4 members, 3 of whom are Outside Directors and 1 of whom is a non-executive Inside Director. This committee deliberates on (i) nomination for Directors, representative Directors and A&SBMs, the Chairman of the Board, and the President, and (ii) the structure and the level of compensation for Directors, representative Directors and corporate officers with taking the business result of NEC and other conditions into account and from an objective perspective. The committee reports the results of its deliberations to the Board of Directors. During the fiscal year ended March 31, 2019, the committee held meetings 5 times and mainly deliberated on (1) amendment to the remuneration system for Directors, (2) nomination for Directors and A&SBMs and (3) succession planning for the President.