NAGOYA ELECTRIC WORKS CO., LTD.

Nagoya Electric Works Co., Ltd has adopted the following framework to ensure legal, prompt and appropriate decision-making and management monitoring.

Board of Directors The Board of Directors consists of five directors, including one outside director, and meets regularly once a month. The Board of Directors makes decisions and important reports on key issues such as management policies and strategies.
The term of office of directors is set at one year in order to establish a management structure that can accurately respond to changes in the business environment and to clarify the management responsibilities of directors.
Board of Auditors Nagoya Electric Works Co., Ltd. has adopted a corporate auditor system, which consists of one full-time corporate auditor and two outside corporate auditors. Based on the audit policy and audit plan formulated by the Board of Auditors, each auditor attends Board of Directors meetings, management meetings, and other important meetings, and fully monitors the execution of duties by directors by, for example, examining the status of operations and assets.
Management Meeting Nagoya Electric Works Co., LTd. has established a Management Meeting consisting of directors and general managers of each division, which meets once a month to discuss general business policies. The Corporate Auditors also attend the meetings as appropriate.
The relationship of the framework and internal control system are as follows.