Japan Association of Corporate Directors

In Recognition of Distinctive Corporate Governance

Grand Prize Company

FUJITSU LIMITED

Recruit Holdings Co., Ltd.

METI Minister's Award for Corporate Governance of the Year

Yokogawa Electric Corporation

Tokyo Governor Prize for Corporate Governance of the Year

PERSOL HOLDINGS CO., LTD.

Japan Association of Corporate Directors (Chairman: Kazuhiko Toyama, Chairman of IGPI Group and CEO of JPiX.), the independent organization for the board and directors, dedicated to promoting excellence in governance and directorship, has announced its Corporate Governance of the Year Prize winners 2024.

The selection committee has decided to award the Grand Prize for the first time to two companies, Fujitsu Limited, and Recruit Holdings Co.Ltd.

"Fujitsu is characterized by its incorporation of diverse viewpoints on its Board of Directors. The Board is chaired by an independent director who is supported by a non-executive internal director. The Board is made up of a majority of independent directors and investors have also been invited to join. It is highly commendable that Fujitsu has been able to establish such a governance structure, while undergoing its shift from a hardware-oriented company to a services-oriented company, and that the company has fully made the transition from being a Japanese Traditional Company (JTC) to a Japanese Transformational Company."

"Corporate governance poses a fundamental question: does corporate governance truly enhance earning power and corporate value? Recruit Holdings has provided a clear answer to this question. The Company has seamlessly integrated its management strategy with corporate governance. Key achievements include the formulation of long-term strategies, defining CEO skill requirements and tenure, decisive execution of M&A, and balance sheet management with a focus on intangible assets. Supporting these initiatives are the skills of its external directors. The results are evident in the Company's exceptionally high corporate value, PBR, and return on capital, which each stand out as exceptional in Japan."

METI Minister's Award was established to recognize a company particularly in appraisal of selection and succession of presidents and CEOs, the planning of which are fundamental for corporate governance.

Tokyo Governor Prize has been established to praise a company which has excellent corporate governance and practices ESG activities such as environmental activities, women empowerment, and initiatives for diversity.

Corporate Governance of the Year 2024

The awards go to the companies which have achieved and maintained long term profitability by implementing good corporate governance with the goal of revitalizing the Japanese economy, since 2015.

Endorsed by Financial Services Agency, Minister of Economy, Trade and Industry, Ministry of Justice, Tokyo Metropolitan Government, Tokyo Stock Exchange/Japan Exchange Group, The Japanese Institute of Certified Public Accountants (JAPAN), IR Association of Japan and Asian Corporate Governance Association.

Corporate Governance of The Year Flipp Book