Idemitsu Kosan Co., Ltd (hereafter “Company“) decided, at the board of directors’ meeting held on May 22, 2007, to add the Appointment of an Accounting Auditor as a matter to be deliberated at the 92nd Ordinary Meeting of Shareholders scheduled to be held on June 28, 2007. The details are as follows.
The consent of the auditor’s meeting has been obtained.
- Reasons for the Appointment of an Accounting Auditor
As of May 10, 2006, ChuoAoyama Audit Corporation (the current Misuzu Audit Corporation), which had been the Company’s accounting auditor, was penalized with a two-month suspension of business from July 1 to August 31, 2006 by Financial Services Agency. Accordingly, this audit corporation lost its qualifications to act as the Company’s accounting auditor, and the auditor’s meeting held on July 3, 2006 appointed the Fuji Accounting Office as temporary accounting auditor. In addition, ChuoAoyama Audit Corporation (the current Misuzu Audit Corporation) was also appointed as an additional temporary accounting auditor as of September 1, 2006, after the business suspension period had ended. Thus, both audit corporations are currently operating as joint auditors.
Both of the Company’s temporary accounting auditors’ terms will expire at the ordinary meeting of shareholders scheduled to be held on June 28, 2007, and Ernst & Young ShinNihon will be newly appointed as our accounting auditor. - Names and Addresses of Exiting Temporary Accounting Auditors
(1) Name: Misuzu Audit Corporation
Location of Office: Kasumigaseki Bldg. 3-2-5 Kasumigaseki, Chiyoda-ku, Tokyo(2) Name: The Fuji Accounting Office
Location of Office: Shin Tokyo Bldg. 3-3-1 Marunouchi, Chiyoda-ku, Tokyo - Name and Address of Accounting Auditor Candidate
(1) Name: Ernst & Young ShinNihon
(2) Location of Office: Hibiya Kokusai Bldg. 2-2-3 Uchisaiwai-cho, Chiyoda-ku, Tokyo
- Date of Appointment
June 28, 2007 (Scheduled date of the 92nd Ordinary General Meeting of Shareholders)
