Market News
Jul. 26, 2024 TSE Public Announcement Measure: NIC Autotec,Inc.
TSE has taken the Public Announcement Measure as follows.
*This decision is based on the results of the examination by Japan Exchange Regulation.
| １．Company Name | NIC Autotec,Inc. (Code: 5742, Market Segment: Standard Market) |
| ２．Date of Public Announcement Measure |
Jul. 26, 2024 (Fri.) |
| Reason (Related Clause) |
Due to falling under a case where TSE deems that the listed company has violated the matters to be observed in the Code of Corporate Conduct (securing an outside director) and that public announcement about the violation of the listing rules is necessary (Securities Listing Regulations, Rule 508, Paragraph 1, Item (2)) |
| ３．Details of Reason | NIC Autotec,Inc. (hereinafter “the Company”) had no outside director after its outside director resigned for personal reasons on Nov. 22, 2023. Subsequently, the Company did not submit a proposal for the appointment of an outside director at its annual general shareholders meeting for the fiscal year ended Mar. 31, 2024, which was held on Jun. 22, 2024, and therefore remained with no outside director after that meeting. At present, there is still no prospect of this situation being promptly rectified. The above situation at the Company is considered to be an ongoing violation of matters to be observed in the Code of Corporate Conduct, which requires securing at least one outside director, and is deemed to require public announcement. Thus, TSE has decided to implement a Public Announcement Measure. |
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