Shiseido Company (4911) Status Update summary

Introduction of external director

• Yoshihiko Hatanaka, with extensive leadership experience at Astellas Pharma and other major firms, has served as Shiseido's external director since March 2023 and became chair of the Compensation Committee in March 2024.

Key features of corporate governance

• Shiseido defines governance as a system supporting sustainable growth and long-term value.

• The company transitioned to a "Company with Three Statutory Committees" to separate oversight and execution, enhancing agility and strategic alignment.

• The board focuses on adapting to volatile environments through in-depth discussion and effective monitoring.

New governance structure (as of March 31, 2024)

• Board consists of 11 directors, with 63.6% external and 45.4% female representation.

• Nominating and Compensation Committees are solely comprised of external directors; Audit Committee is chaired by an external director.

• Non-executive directors make up 81.8% of the board, supporting strong oversight.