Mitsubishi UFJ Financial Group, Inc. | Disclosure of financial risk audit at Mitsubishi Corporation

Status
3.54% votes in favour
AGM date
Previous AGM date
Proposal number
5
Resolution details
Company ticker
8306
Lead filer
Undisclosed filer
Resolution ask
Strengthen board oversight of issue
ESG theme
  • Environment
  • Governance
ESG sub-theme
  • Climate change
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
Japan
Resolved clause
Noting the Company’s increasing acute and systemic financial risks due to material issues such as malfeasance and climate change, and the duties of the audit and supervisory committee to oversee the effectiveness of the execution of duties by the Directors, in order to enhance long-term value, the Company shall disclose the following in the Audit Report: (i) the audit committee’s assessment of the appropriateness of our company’s strategy, policies and processes to mitigate financial risks associated with identified material issues (including, the appropriateness of the process and results of reviewing the financial risks to which our company may be exposed, both when risk management is properly implemented and when it is inadequate) and the reasons of the assessment; and, (ii) the framework, including the criteria for the assessment, for auditing the oversight of the Company’s risk controls with respect to identified material issues. The disclosure should be produced at reasonable costs and omit proprietary information.
Supporting statement
Noting the Company’s increasing acute and systemic financial risks due to material issues such as malfeasance and climate change, and the duties of the audit and supervisory committee to oversee the effectiveness of the execution of duties by the Directors, in order to enhance long-term value, the Company shall disclose the following in the Audit Report: (i) the audit committee’s assessment of the appropriateness of our company’s strategy, policies and processes to mitigate financial risks associated with identified material issues (including, the appropriateness of the process and results of reviewing the financial risks to which our company may be exposed, both when risk management is properly implemented and when it is inadequate) and the reasons of the assessment; and, (ii) the framework, including the criteria for the assessment, for auditing the oversight of the Company’s risk controls with respect to identified material issues. The disclosure should be produced at reasonable costs and omit proprietary information.

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