3 Outside Directors’ Supervision, Audits, and 2 The Company’s Basic Way of Thinking with GovernanceRegard to the Independence of Outside DirectorsThe Company does not have its own set standards or policies with regard to the independence of outside directors and refers instead to the standards stipulated by the TSE. Since appointment is based on a request from the Company, we recognize that independence from management is to be ensured.Internal Audits; Mutual Cooperation with Audit & Supervisory Committee Audits and Accounting Audits; and the Relationship with the Internal Control DivisionThere are no particular shared interests between the Company and Akira Sebe but Nippon Paper Industries Co., Ltd., where he serves as an executive officer, is a major trading partner of the Company, which purchased ¥1,733 million worth of raw materials from and sold ¥114 million worth of products to Nippon Paper (both results from the fiscal year ended March 31, 2021). In addition, Nippon Paper is a major shareholder in the Company; its holding amounted to 21,737,792 shares (30.06% of the total number of Company shares outstanding, excluding treasury stock) on March 31, 2021.There are no particular shared interests between the Company and Akiko Okushima.There are no particular shared interests between the Company and Shigeru Sugimoto.There are no particular shared interests between the Company and Satoshi Ohoka.There are no particular shared interests between the Company and Kanako Osawa.LINTEC Integrated Report 2021In addition to attending Board of Directors’ meetings and making necessary and effective remarks as appropriate during agenda deliberations, outside directors attend meetings of the Internal Control Committee and oversee directors in the execution of their duties.By utilizing knowledge and experience from his directorship experience at Nippon Paper Industries Co., Ltd., and his many years of business experience in this company’s materials department, Akira Sebe is able to strengthen the Company’s Board of Directors’ supervisory function. Therefore, he has been appointed as an outside director.By utilizing her extensive knowledge in the field of marketing, and her know-how and experience gained through many years of work in a different industry from that of the Company as representative director and president, Akiko Okushima is able to strengthen the Company’s Board of Directors’ supervisory function. Therefore, she has been appointed as an outside director. She is a member of the Corporate Governance Committee, an advisory body to the Board of Directors. The Company has designated her as an independent officer based on the criteria stipulated by the Tokyo Stock Exchange, Inc. (TSE).By utilizing his abundant business experience as an outside director and auditor in a sector different from the Company, even managing his own company, as well as his practical experience, broad knowledge, and advanced expert insight as a certified public accountant, registered real estate appraiser, and certified tax accountant, Shigeru Sugimoto is able to strengthen the audit and supervisory functions of the Company’s Board of Directors. Therefore, he has been appointed as an outside director. He is a member of the Corporate Governance Committee, an advisory body to the Board of Directors. The Company has designated him as an independent officer based on the criteria stipulated by the TSE.By utilizing his long years of policy-based finance experience, his rich international experience, his specialist academic experience, and his knowledge and experience gained as an outside director in industries different to that of the Company, Satoshi Ohoka is able to strengthen the audit and supervisory functions of the Company’s Board of Directors. Therefore, he has been appointed as a director serving as an Audit & Supervisory Committee member. He is a member of the Corporate Governance Committee, an advisory body to the Board of Directors. The Company has designated him as an independent officer based on the criteria stipulated by the TSE.By utilizing her specialist expertise and extensive knowledge gained as an attorney, along with the knowledge and experience gained through her career in corporate legal affairs both at home and abroad, Kanako Osawa is able to strengthen the audit and supervisory functions of the Company’s Board of Directors. Therefore, she has been appointed as a director serving as an Audit & Supervisory Committee member. She is a member of the Corporate Governance Committee, an advisory body to the Board of Directors. The Company has designated her as an independent officer based on the criteria stipulated by the TSE.60NameHuman, Financial, and Business Relationships and Other Shared Interests between the Outside Directors and the CompanyAkira SebeAkiko OkushimaShigeru SugimotoSatoshi OhokaKanako OsawaReason for Appointment Status of Outside Directors1 Outside DirectorsThe Company has appointed five outside directors— Akira Sebe, Akiko Okushima, Shigeru Sugimoto, Satoshi Ohoka, and Kanako Osawa. Two of these outside directors—Satoshi Ohoka and Kanako Osawa—are Audit & Supervisory Committee members.
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