OMRON Receives METI Minister's Award for Corporate Governance of the Year 2018

OMRON Corporation Chairman Fumio Tateishi receives the award certificate from Mr. Yoshihiko Isozaki , Senior Vice Minister of Economy、Trade and Industry Ministry of Economy, Trade and Industry (METI), at the commendation ceremony held on February 21.

OMRON Corporation (HQ: Shimogyo-ku, Kyoto. CEO: Yoshihito Yamada) has received the newly-established METI Minister's Award for Corporate Governance of the Year 2018, an award program organized by the Japan Association of Corporate Directors (JACD).

This award program has been organized by the JACD since fiscal 2015 with a view toward supporting companies that have achieved sound growth over the mid- and long-term through good corporate governance.

The METI Minister's Award is presented to companies recognized as having established a successful model of having an independent nominating committee and other organizations effectively supervise their plans concerning, in particular, the selection and succession of presidents and CEOs, the planning of which is fundamental for corporate governance. OMRON was selected for this prestigious award because it has maintained a high transparency of the CEO nomination process performed by the "CEO Selection Advisory Committee" which was established in 2006, has secured the effectiveness of the committee dedicated to appointing the CEO, and has achieved effective utilization of the committee.

METI News Release
http://www.meti.go.jp/english/press/2019/0201_003.html

OMRON has made constant efforts to improve its corporate governance since 1996 in a bid to achieve sustainable enhancement of corporate value. The "CEO Selection Advisory Committee," for which it has now been recognized, was established in 2006 in order to enhance transparency, objectivity, and timeliness of the CEO candidate selection process, thereby reinforcing the oversight functions of the Board of Directors. Chaired by an outside director, all of the committee members are non-executive directors, and the majority of the members are outside directors. The "CEO Selection Advisory Committee" meets annually to deliberate the selection of the next CEO, succession plans, and candidates in the event of an emergency.

We intend to continue our pursuit of ongoing corporate governance improvement as we develop our own unique vision of governance.