Japan Aviation Electronics discloses NEC as controlling shareholder

Japan Aviation Electronics Industry Limited disclosed that NEC Corporation holds 33.52% of the voting rights, making NEC its controlling shareholder. The company emphasized its commitment to independent management, highlighting that its board of directors, comprising five executive directors and five independent external directors, operates with independent decision-making processes, overseen by independent external directors and auditors. The company also maintains a special committee comprised of independent external directors to protect the interests of minority shareholders in significant transactions with controlling shareholders. The company states it maintains an arm's length relationship with NEC.