The Audit Committee shall consist of at least three Directors, the majority of whom shall be outside Directors, and is subject also to the paragraph below And the chair is be selected among the outside Directors. In determining whether to appoint or remove a member of the Audit Committee ("Audit Committee Member"), continuity of the Audit Committee shall be duly taken into account. No Audit Committee Member shall become, as a general rule, a member of the Nominating Committee or the Compensation Committee.
Each Audit Committee Member shall satisfy all of the following qualifications:
- Shall not be a Director engaged in the business operation, a Corporate Executive Officer, an accounting counselor, a general manager or other employees of the Company or its subsidiaries.
- Shall meet the independence requirements or such other equivalent requirements of the U.S. securities laws and regulations as may from time to time be applicable to the Company.
Moreover, at least one Audit Committee Member shall meet the audit committee financial expert requirements or such other equivalent requirements of the U.S. securities laws and regulations as may from time to time be applicable to the Company. The Board of Directors shall make a determination on whether or not such Audit Committee Members meet these requirements. For a list of the latest Audit Committee Member, please refer to the page below.