Basic Policy on Corporate Governance

The mission of UMN Pharma’s management team is to deliver innovative biopharmaceuticals to individuals throughout the world, through the use of our next-generation advanced technology, in order to contribute to the health of society members by satisfying Unmet Medical Needs.

We strongly believe that sustainable growth and enhanced enterprise value will come from our significant efforts to accomplish this mission, resulting in the fulfillment of our social corporate responsibility and rewarding our shareholders.

We recognize corporate governance as one of the most important issues that corporate management must pursue. We intend to further enhance our corporate governance by strengthening internal control systems, including rigorous compliance, while establishing a structure to facilitate rapid and efficient corporate decision-making, in order to realize our goals.

We also acknowledge and assume responsibility for the timely and appropriate disclosure of corporate information, which underpins the creation of a health capital market and is indispensable to earn the support and trust of all stakeholders, including shareholders. We have established this disclosure policy to make timely and fair disclosure of accurate corporate information concerning financial results and other matters to participants of capital markets and the news media in accordance with laws, regulations, and listing regulations.

UMN Pharma’s Corporate Governance and Internal Control System

UMN Pharma’s corporate governance system consists of seven members of the board of directors, two of which are independent directors, three members of the board of corporate auditors, two of which are independent corporate auditors, and an independent external accounting auditor. Besides the fundamental corporate governance system, which is designated by the Companies Act of Japan, the internal auditing office plays a role to ensure and further enhance the state of internal control by conducting internal audits, the result of which is reported directly to the CEO and the board of corporate auditors.

Overview of UMN Pharma’s corporate governance and internal control system is as below ;