News Release

Epson Partially Amends Corporate Governance Policy

- TOKYO, Japan, March 18, 2022 -

Seiko Epson Corporation (TSE: 6724, "Epson") announced that its Board of Directors, at a meeting held on March 17, 2022, approved amendments to the Corporate Governance Policy, a statement of the basic principles and framework for corporate governance within Epson.

Epson, which established the policy in September 2015, strives to continuously enhance and strengthen corporate governance so as to realize transparent, fair, fast, and decisive decision-making to realize its Management Philosophy, promote sustainable growth, and increase corporate value over the medium and long terms.

Epson recently decided to partially amend the policy to increase independence of the Director Nomination Committee and the Director Compensation Committee.
See the amended Corporate Governance Policy at the link below.
global.epson.com/SR/organizational_governance/pdf/epson_governance_policy_e.pdf PDF (285KB)

To achieve its aim of realizing effective corporate governance that reflects prevailing social imperatives and the operating environment, Epson will review this policy, and amend it as necessary, on an annual basis.

The amendments to the policy are shown below.

(Amendments are underlined)

Before the revision After the revision
Introduction <Omitted> Introduction <Unchanged>
Article 1 - Article 22 <Omitted> Article 1 - Article 22 <Unchanged>
Article 23: Director Nomination Committee and Director Compensation Committee Article 23: Director Nomination Committee and Director Compensation Committee
23.1-23.2 <Omitted> 23.1-23.2 <Unchanged>
23. 3 The Director Nomination Committee and the Director Compensation Committee shall be composed of the majority of Outside Directors and a Chairperson will be elected by the Board from among the Outside Directors to ensure transparency, objectivity, and independence. The committees shall also include the President and the Officer in charge of human resources. 23. 3 The Director Nomination Committee and the Director Compensation Committee shall be composed of the majority of Outside Directors and a Chairperson will be elected by the Board from among the Outside Directors to ensure transparency, objectivity, and independence. The committees shall also include the President.
23.4 <Omitted> 23.4 <Unchanged>
Article 24 - Article 31 <Omitted> Article 24 - Article 31 <Unchanged>
Appendix 1, Appendix 2 <Omitted> Appendix 1, Appendix 2 <Unchanged>

About Epson
Epson is a global technology leader dedicated to co-creating sustainability and enriching communities by leveraging its efficient, compact, and precision technologies and digital technologies to connect people, things, and information. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson will become carbon negative and eliminate use of exhaustible underground resources such as oil and metal by 2050.
Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of around JPY 1 trillion.
global.epson.com/