HIS has taken disciplinary actions against directors of two of its consolidated subsidiaries in response to fraudulent claims for employment adjustment subsidies by three of its subsidiaries.
At Cruise Planet, where misconduct by management was confirmed, former President Atsushi Kobayashi had his monthly compensation reduced by 50% for five months. An employee serving as a concurrent director had their compensation reduced by 35%. Mr. Kobayashi received a resignation recommendation and resigned as of April 17, stepping down from the president’s position.
At Europe Express, President Takeyuki Furukawa had his compensation reduced by 30% for three months, and one director by 10% for one month.
Furthermore, disciplinary actions against directors of No. 1 Travel Shibuya were announced on January 27.
To strengthen the group’s governance system, HIS has established a “Subsidiary Governance Review Committee” as an advisory body to the board of directors, chaired by an outside director.
