PDF [4833KB] - Sony
PDF [4833KB] - Sony
PDF [4833KB] - Sony
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Corporate Governance<br />
Functions of the “Company with<br />
Committees” system<br />
Adoption of the “Company with Committees”<br />
system<br />
In June 2003, <strong>Sony</strong> adopted the “Company<br />
with Committees” system in accordance with<br />
the Japanese Commercial Code. The result<br />
was the establishment of three statutory<br />
committees, the Nominating Committee, the<br />
Audit Committee and the Compensation<br />
Committee, each consisting of a majority of<br />
outside directors, and the appointment of<br />
Corporate Executive Officers (“Shikko-yaku”).<br />
The Board of Directors and the three statutory<br />
committees determine the fundamental<br />
management policies of the <strong>Sony</strong> Group and<br />
ensure that the Group is managed appropriately<br />
and compliance with its legal obligations with<br />
the law, thereby enhancing corporate value.<br />
The role of each corporate governance body<br />
The roles of the Board of Directors and its<br />
three statutory committees are as follows.<br />
Board of Directors<br />
(1) Determinates the fundamental management<br />
policies for the <strong>Sony</strong> Group<br />
(2) Supervises the execution of the <strong>Sony</strong><br />
Group’s business operations<br />
(3) Determines the Directors organizing each<br />
committee<br />
(4) Appoints and dismisses Corporate<br />
Executive Officers<br />
Statutory Committees<br />
Nominating Committee: Proposes the nomination<br />
and dismissal of Directors<br />
Audit Committee: Audits the execution of<br />
duties of Directors and Corporate Executive<br />
Officers, determines proposals to nominate<br />
and dismiss the independent auditors<br />
Compensation Committee: Determines the<br />
individual compensation of each Director and<br />
Corporate Executive Officer<br />
Officers with relation to capital expenditure,<br />
equity-based business alliances and other<br />
actions related to the execution of their<br />
respective business operations. Using their<br />
authority and carrying out their responsibilities<br />
within the scope delegated to them by the<br />
Board of Directors, these officers work toward<br />
enhancing the <strong>Sony</strong> Group’s corporate value.<br />
Executive Officers (“Gyomu shikko-yakuin”):<br />
These officers are delegated responsibility for<br />
carrying out business operations within specific<br />
areas of <strong>Sony</strong> Corporation, such as its business<br />
units, research activities and head office<br />
functions. They act in accordance with<br />
fundamental policies determined by the Board<br />
of Directors and Corporate Executive Officers.<br />
Structure of New <strong>Sony</strong> Corporate Governance System<br />
Board of Directors<br />
(1) Determination of fundamental management policies for the <strong>Sony</strong> Group<br />
(2) Supervision of execution of the <strong>Sony</strong> Group’s business operations<br />
(3) Determination of Directors organizing each committee<br />
(4) Appointment and dismissal of Corporate Executive Officers<br />
Chairman of the Board: Iwao Nakatani* Vice Chairmen of the Board: Hirobumi Kawano*,<br />
Teruo Masaki<br />
Nominating Committee<br />
Proposes nomination and<br />
dismissal of Directors, etc.<br />
Yotaro Kobayashi*<br />
(Chairman)<br />
Hirobumi Kawano*<br />
Carlos Ghosn*<br />
Nobuyuki Idei<br />
Kunitake Ando<br />
Supervision<br />
Audit Committee<br />
Audits the execution of duties<br />
of Directors and Corporate<br />
Executive Officers, determines<br />
proposals to nominate and<br />
dismiss the independent<br />
auditors, etc.<br />
Yoshiaki Yamauchi*<br />
(Chairman)<br />
Sakie T. Fukushima*<br />
Akihisa Ohnishi<br />
Execution<br />
Composition of each corporate<br />
governance body<br />
At the Ordinary General Meeting of Shareholders<br />
held on June 22, 2004, shareholders elected<br />
16 Directors, including eight outside Directors.<br />
At the subsequent Board of Directors meeting,<br />
members of the three statutory committees<br />
and 15 Corporate Executive Officers, including<br />
the two Representative Corporate Executive<br />
Officers, were determined.<br />
Meetings held<br />
During the fiscal year ended March 31, 2004<br />
(June 20, 2003 through March 31, 2004 for<br />
Statutory Committees), the Board of Directors<br />
met nine times, the Nominating Committee met<br />
four times, the Audit Committee met eight times<br />
and the Compensation Committee met six times.<br />
Compensation Committee<br />
Determines the<br />
compensation of each<br />
Director and Corporate<br />
Executive Officer, etc.<br />
Akishige Okada*<br />
(Chairman)<br />
Yoshihiko Miyauchi*<br />
Teruo Masaki<br />
Corporate Executive Officers<br />
Execute <strong>Sony</strong> Group business activities within the scope of authority delegated by the Board of Directors<br />
Corporate Executive Officers (“Shikko-yaku”):<br />
The Board of Directors has delegated considerable<br />
authority to the Corporate Executive<br />
*Outside Director<br />
Executive Officers / Group Executive Officers / Employees<br />
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