Notice Regarding Partial Changes to Director Candidates at YKK Corporation and YKK AP Inc. and the Establishment of a Special Investigation Committee
May 22, 2026
YKK Corporation (hereinafter “YKK”) and its subsidiary, YKK AP Inc. (hereinafter “YKK AP”), previously announced on April 24, 2026 the candidates for directors to be elected at their respective Annual General Meetings of Shareholders (*1, *2). However, it has since been found that several candidates were involved in improper expense processing related to entertainment expenses within YKK AP. Accordingly, as described below, it has been decided to revise a portion of the director candidates (*3, *4). In conjunction with this matter, the director candidate dispatched to Panasonic Housing Solutions Co., Ltd. (hereinafter “PHS”) will also be changed (*4).
Investigations are still ongoing. While certain facts have been identified and organized to some extent, a full evaluation and determination of the overall situation has not yet been reached. In light of the importance of this matter from a management perspective, YKK has resolved at a Board of Directors meeting held today to establish a Special Investigation Committee composed solely of independent external experts, as described below, to clarify the full scope of the issue.
We sincerely apologize for any concern and inconvenience this matter has caused our business partners and all other stakeholders.
Changes to Director Candidates
The individuals listed below will be withdrawn as director candidates and are scheduled to step down upon the conclusion of the next Annual General Meeting of Shareholders.
| Company | Name | Position |
|---|---|---|
| YKK | Hidemitsu Hori | Director |
| YKK AP | Hidemitsu Hori | Chairman and Representative Director |
| Hiroshi Abe | Director, Executive Vice President | |
| Koichi Ebihara | Director, Executive Vice President | |
| PHS | Hidemitsu Hori | Representative Director |
Furthermore, until the Special Investigation Committee completes its investigation, YKK AP will refrain from appointing any new directors from within the company, and it also will refrain from dispatching YKK AP employees to PHS as non-executive directors. Accordingly, Tadashi Oikawa will be withdrawn as a candidate for director at the YKK AP Annual General Meeting of Shareholders, and Junji Nakae is scheduled to step down upon the conclusion of the PHS Annual General Meeting of Shareholders.
Overview of the Special Investigation Committee
- Purpose of Establishment
To clarify the facts, with the support of Kohwa Sohgoh Law Offices, an independent external law firm with no conflicts of interest with YKK, and KIC Co., Ltd. - Scope of Investigation
1. Clarification of the actual circumstances surrounding improper expense processing at YKK AP.
2. Analysis of causes and recommendations for recurrence prevention based on findings from (1).
3. Any other matters that the Special Investigation Committee deems necessary in relation to the foregoing. - Investigation Method
Under the direction of the Special Investigation Committee, attorneys from the Kohwa Sohgoh Law Offices and certified public accountants from KIC Co., Ltd. will take the lead in conducting document reviews, data analysis, and interviews. - Committee Members
Chair: Makoto Shirai (Attorney, Kohwa Sohgoh Law Offices)
Member: Akira Takagi (Certified Public Accountant, KIC Co., Ltd.)
Member: Daisuke Watanabe (Attorney, Kohwa Sohgoh Law Offices)
There are no special conflicts of interest between these external experts and YKK or YKK AP.
Future Actions
YKK and YKK AP will fully cooperate with the investigation conducted by the Special Investigation Committee. Based on the investigation results, if facts are confirmed, appropriate and strict measures will be taken in accordance with internal regulations. The results of the investigation will be promptly disclosed once the Committee has completed its work.
- (*1) YKK Corporation Executive Personnel Changes (April 24, 2026)
- (*2) YKK AP Inc. Executive Personnel Changes (April 24, 2026)
- (*3) YKK Corporation Executive Personnel Changes (May 22, 2026)
- (*4) YKK AP Inc. Executive Personnel Changes (May 22, 2026)