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Article 20
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A Bills Finance Company shall explain its business conditions as follows:
- Significant business matters: The Bills Finance Company shall provide explanations on matters which have significant effect on business in the last five years, such as merger with, acquisition of, or otherwise combination with another company, splits, investing in affiliated enterprises, reorganization, procurement or disposal of major assets, significant change in operation method or business activity, etc.
- Remuneration and related information on directors, supervisors, general manager and vice general manager (Form 7):
- Transportation allowance and remuneration to each director and supervisor in the most recent accounting year. If a director concurrently acts as manager, the remuneration shall be respectively disclosed based on his/her position.
- Total salaries, cash awards, special allowance, and bonuses paid to the general manager and vice general manager in the most recent accounting year.
- If remuneration other than those described in the preceding two items, such as automobile, house, or other personal expenditures, is provided to directors, supervisors, general manger, or vice general manager, the name, position, the nature and cost of the assets provided, actual rental or rental imputed based on fair market price, and other payment shall be disclosed.
- Where any of the chairman, general manager, or manager in charge of finance or accounting has during the past twelve months held a position at the accounting firm of a certified public accountant or an affiliated enterprise of such accounting firm, the name, position held, and period during which the position was held shall be disclosed. The term "affiliated enterprise of a certified public accountant's accounting firm" as used in these Regulations means enterprises in which accountants at the accounting firm of the certified public accountant hold more than 50% of the shares or hold more than half of the directors' positions, or those companies or institutions listed as affiliated enterprises in the external publications or printed materials of the accounting firm of the certified public accountant.
- Labor-management relations (Form 8):
- Significant employee welfare programs, the retirement system and status of implementation thereof, and arrangements between labor and management of the Bills Finance Company shall be disclosed.
- Loss caused to the Bills Finance Company by labor disputes during the last thee years shall be explained. Any amount already incurred or estimated likely to be incurred in the future and counter measures shall be also disclosed. If the amount cannot be reasonably estimated, such fact shall be explained.
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