The Softbank Group is guided by a philosophy of “Information Revolution — Happiness for everyone,” a corporate philosophy common to the Group. Toward the realization of the vision of becoming “the corporate group needed most by people around the world,” SoftBank Corp. (the “Company”) aims to create a new social infrastructure and realize an ideal society where everyone can spend their time conveniently, comfortably and safely by the domestic telecom business foundation that it has built up so far and providing products and services that utilize the latest digital technology.
The Group recognizes that it is vital to maintain effective corporate governance in order to realize this vision. The Company continues to strengthen corporate governance within the Group by taking measures such as formulating the SoftBank Charter of Corporate Behavior to share the fundamental concept and corporate philosophy of the Company. The Company also sets out various rules with which group companies and their officers and employees must comply.
The Company's corporate governance system centers on the board of directors, audit & supervisory board members, and the audit & supervisory board. Six of the 13 directors are external directors to ensure robust mutual monitoring between the directors. The nominating committee, remuneration committee and SDGs promotion committee are established voluntarily as advisory bodies to the board of directors. The nominating committee and remuneration committee comprise the CEO and four independent external directors (the four independent external directors serving as committee members are elected by a resolution of the board of directors) to ensure independence of the committees. Two of the four audit & supervisory board members are external members to ensure independent auditing functions, thereby strengthening the monitoring of management.
The Company aims to ensure that at least one third of the directors is represented by external directors. At present, six of the 13 directors are external directors (well in excess of the one third target), whereby the independence and transparency of the board of directors is secured. In addition, all directors are requested to achieve the target rate of attendance at board of directors meetings, which is set at 75% or higher.