Jan 12, 2022
Tokyo Electron (TEL; Head Office: Minato-ku, Tokyo; President: Toshiki Kawai) announced today that it won recognition as the “Grand Prize Company” in the Corporate Governance of the Year®* 2021 program sponsored by the Japan Association of Corporate Directors (JACD; Chairman: Yoshihiko Miyauchi). TEL was chosen for this honor from about 2,200 companies listed on the First Section of the Tokyo Stock Exchange.
JACD’s selection committee chairman Mr. Atsushi Saito (Commissioner of Nippon Professional Baseball and former CEO of the Japan Exchange Group) commented as follows: “Many companies have shown significant improvements in their corporate governance practices lately, treating the process not as a formality but as a matter of real substance. TEL is outstanding among these companies for its ambition to integrate governance with growth, its eagerness to study advanced governance models of overseas semiconductor firms, and its readiness to face reality and improve management practices, for example by introducing a CEO evaluation process. TEL’s ‘full aggressive style of governance’ won high marks because the approach has helped the company to rapidly improve its business performance.”
“We are extremely honored to receive such a prestigious award,” Tokyo Electron President & CEO Toshiki Kawai said. “The recognition encourages us to continue meeting the capital market’s expectations by striving to boost our medium- to long-term profits and keep improving our corporate value.”
Corporate Governance of the Year®
An award program that gives recognition to companies that practice sound corporate governance to attain medium- to long-term growth. It has been carried out by JACD since 2015 with the endorsement of the Ministry of Economy, Trade and Industry and Asian Corporate Governance Association (ACGA).
* Corporate Governance of the Year® is a registered trademark of the Japan Association of Corporate Directors.