2008
April 30, 2008
Kurita Water Industries to Partially Amend Articles of Incorporation
Kurita Water Industries announced today that its Board of Directors met and passed a resolution to propose partial amendments to the Articles of Incorporation at the 72nd annual meeting of shareholders scheduled for June 27, 2008. Details appear below.
1. Purpose of amendments
With the aim of enhancing transparency regarding director compensation, Kurita will terminate its current scheme of directors’ retirement benefits, which are paid to company directors and auditors, as of the conclusion of its 72nd annual meeting of shareholders and unify the annual salary plans already in place.
2. Details of proposed amendments to the Articles of Incorporation
Details of the amendments appear in the following table.
(Proposed amendments are underlined)
| Current Articles of Incorporation | Proposed amendments |
|---|---|
|
Chapter 4 Directors and the Board of Directors |
Chapter 4 Directors and the Board of Directors |
| Directors’ Remuneration etc. | Directors’ Remuneration etc. |
| Article 23. Directors’ remuneration, retirement benefits, and other financial benefits they receive from the Company as consideration for the execution of their duties ("remuneration etc.") will be determined by resolutions of the General Meeting of Shareholders. | Article 23. Directors’ remuneration, and other financial benefits they receive from the Company as consideration for the execution of their duties ("remuneration etc.") will be determined by resolutions of the General Meeting of Shareholders. |
|
Chapter 5 Corporate Auditors and the Board of Corporate Auditors |
Chapter 5 Corporate Auditors and the Board of Corporate Auditors |
| Corporate Auditors’ Renumeration etc. | Corporate Auditors’ Renumeration etc. |
| Article 31. Auditors’ remuneration, retirement benefits, and other financial benefits they receive from the Company as consideration for the execution of their duties ("remuneration etc.") will be determined by resolutions of the General Meeting of Shareholders. | Article 31. Auditors’ remuneration, and other financial benefits they receive from the Company as consideration for the execution of their duties ("remuneration etc.") will be determined by resolutions of the General Meeting of Shareholders. |
3. Schedule
-
- Date of Annual General Meeting of Shareholders for discussing the amendments
- June 27, 2008 (scheduled)
-
- Effective date of amendments to the Articles of Incorporation
- June 27, 2008 (scheduled)