Tosei Corporation released an updated corporate governance report on Feb, 27 2026, outlining its policies, board structure and recent initiatives to enhance oversight and disclosure practices.

The report confirms that the company’s board consists of nine directors, including three independent outside directors, and four outside Audit & Supervisory Board Members. A Nominating and Compensation Advisory Committee, chaired by an independent director, supports the board on officer appointments and remuneration.

Tosei stated that it holds no strategic cross-shareholdings and does not operate a corporate pension fund. The company continues to prioritise compliance, risk management and timely disclosure, while maintaining its internal control system in accordance with Japan’s Companies Act and Financial Instruments and Exchange Act.

An annual self-assessment completed in Nov, 2025 concluded that the board remains effective, with diversity and sustainability discussions identified as areas for further enhancement.

Under the medium-term plan “Further Evolution 2026,” Tosei targets a return on equity of at least 13 percent, an equity ratio of roughly 35 percent and a net debt-to-equity ratio of 1.4. The cost of capital is estimated at about 8 percent, and weighted average cost of capital at roughly 4 percent.

Major shareholders as of Nov, 30 2025 include Nagoya Railroad Co., Ltd. (15.46 percent) and Zeus Capital Limited (12.37 percent). The company reported no parent entity or listed subsidiaries.

Tosei’s full governance policies and related sustainability disclosures are available on its investor relations website.