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IR Top Page > Management Objectives > Corporate Governance

Corporate Governance

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Shareholders and investors have made the practical and effective functioning of internal control into a key issue amidst an epidemic of corporate misconduct in Japan and overseas. In this section, Capcom will explain the corporate governance structure and systems that it has initiated so far based on the key concepts of "effectiveness and visibility" in terms of the results of third party assessment.

(Assessment areas are highlighted in yellow.)

PDF Corporate Governance Report (PDF: 844KB/66pages) ( September 19, 2018 )

PDF Capcom's basic policy for Japan's Corporate Governance Code  (PDF: 612KB/49 pages) ( September 19, 2018 )

How the Company has Addressed All 73 Principles of the Corporate Governance Code

(as of October 20, 2017)

Third-Party Assessment

Promoting More "Visible" Governance

An analysis of an assessment performed by a third-party organization into the validity and effectiveness of Capcom's corporate governance shows that the company ranked 174th among 3,488 listed companies in Japan in the "NEEDS-Cges" assessment developed by Nikkei Digital Media, Inc.

NEEDS-Cges has an established reputation as a system that quantitatively assesses corporate governance using scores on a scale of 1 to 10 for eight categories, including capital efficiency, information disclosure, and shareholder and capital composition, among others, assigned based on some 150 indicators calculated from data of publicly released company documents, such as financial reports.

Accompanying the changes to the NEEDS-Cges assessment criteria, Capcom's total score was 7.28 points, placing us in the top 5.0% of Japan's listed companies.

Our score also exceeded the average for all listed companies and for the industry, at 4.91 points and 7.15 points, respectively. We also received the maximum score of 10 for "information disclosure."

Furthermore, accompanying our abolishment of takeover defense measures and our dividend increase, we improved our scores over the previous year for the two categories of external regulations and capital policies.

The main evaluation factors are given in the table below, but areas highlighted in yellow indicate measures that received particular notice. Additionally, we were awarded first place among the companies that comprise the TOPIX 1000 for the Nikko Governance Score, which was announced in August 2017.

Going forward, we will continue making improvements based on consideration of external data to earn an even stronger assessment, and further promote the external visibility of our governance.

Third-Party Assessment Results of Capcom's Corporate Governance

Comparison of the Industry Average and the Average for All Listed Companies

Comparison of the Industry Average and the Average for All Listed Companies

Details of Capcom's
Corporate Governance Assessment
Categories Fiscal 2016
Fiscal 2017 Ratings  
Total Score 6.80 7.28
Capital efficiency 6 5
Equity market's assessment 9 7
External regulations 7 8
Board of Directors 8 8
Officer remuneration 9 8
Information disclosure 10 10
Capital policies 4 8
Effectiveness 4 4
Rank 321 174

174/3,488 Top 5.0%

Details of Categories
Categories Score Areas that Received Particular Notice
External regulations 8 Ratio of loyal long-term stockholders and presence (or absence) of takeover defense measures
Board of Directors 8 Matters related to independent external directors and the terms of members of the Board of Directors
Officer remuneration 8 President's shareholding ratio and amount of Company shares held by directors
Information disclosure 10 Timing of the General Shareholders' Meeting (overlap with other companies) and website-related matters
Capital policies 8 Shareholder return ratio

* Source: NEEDS-Cges from Nikkei Digital Media Inc.

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