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Regarding a change in structure to the Nomination and Compensation Committee

Tokyo, June 24, 2019 - NEC Corporation (NEC; TSE: 6701) today announced that the structure of its Nomination and Compensation Committee has been changed as part of efforts to strengthen corporate governance.

Specifically, the committee now has a total of four members, reduced from five, consisting of three Outside Directors and one Inside Director (non-executive director). This follows the resignation of NEC's President from the committee.

As a result, the committee will have a majority of Outside Directors, and all will be non-executive directors, which is expected to result in greater independence and objectivity.

The committee deliberates on (i) nomination for Directors, representative Directors and Audit & Supervisory Board Members (KANSAYAKU) ("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.

Members of the Nomination and Compensation Committee

Takeshi Kunibe Outside Director
(Chairman of the Board, Sumitomo Mitsui Financial Group, Inc.)
Kaoru Seto Outside Director
(Special Adviser, Yamato Holdings, Co., Ltd.)
Kuniharu Nakamura Outside Director
(Chairman of the Board of Directors, Sumitomo Corporation)
Nobuhiro Endo Inside Director [non-executive director]
(Chairman of the Board, NEC Corporation)
  • *
    A chairperson will be appointed from among the Outside Directors at the Nomination and Compensation Committee meeting scheduled to be held in July this year.

NEC is focusing its efforts on enhancements and improvements of its corporate governance system in order to realize more effective corporate governance responding to changes in the business environment.


About NEC Corporation
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