At the Board of Directors meetings, Directors present the major directions of management strategies, etc., and Directors and Audit & Supervisory Board Members deliberate on their appropriateness and risks involved in their implementation from objective and multifaceted perspectives, while appropriately supervising and auditing the execution of these strategies. To this end, we believe that it is essential that Inside and Outside Directors and Audit & Supervisory Board Members with diverse knowledge, experience, and skills exchange opinions and engage in constructive dialogue from a variety of perspectives.
Based on the vision of "protecting future lives" and promoting "sustainability as the only path," as stated in K25 in order to realize a Kirei World in which all life lives in harmony, which is our purpose, we deliver products and services that protect the healthy lives of people and consumers and customers by leveraging our advanced technologies developed through extensive R&D including fundamental research from an ESG perspective. In addition, we make further strategic investments and expand existing businesses with the aim of creating new business that protect future lives by utilizing digital transformation with an eye toward the global environment and human life.
To support these activities, we supervise from objective and diverse perspectives and build systems that can be verified from professional perspectives such as accounting, finance, and legal with the aim of achieving continuous improvement.
To achieve these objectives, the Board of Directors considers it is important for Inside and Outside Directors and Audit & Supervisory Board Members to complement each other with each of their knowledge, experience, and abilities and to be able to demonstrate high effectiveness as a whole.

In addition to knowledge, experience and ability, we recognize the diverse perspectives that come from diversity of the Board of Directors in terms of gender, nationality, race and age contribute to the promotion of business, global expansion and proper supervision and auditing, and promotes the appointment of such diverse personnel as Directors and Audit & Supervisory Board Members. Our target for the ratio of female on the Board of Directors is 30% by 2025.
We set the appropriate size of the Board of Directors in consideration of the balance between having diverse personnel required to conduct the proper deliberations and supervision of execution and a small Board of Directors to accelerate decisionmaking for dealing with business expansion and other matters, on the premise of the delegation of responsibility to appropriately placed Executive Officers. We aim to have Outside Directors comprise approximately half of the Board of Directors to ensure its diversity and influence and emphasizes their independence. In addition, we aim to have a majority of Outside Audit & Supervisory Board Members who meet the Standards for Independence.

In addition to the above, each month the Company has business execution reports from Directors currently serving as Executive Officers, as well as on matters discussed during the Management Board from Executive Officers in charge.

On at least an annual basis, an evaluation is conducted at a meeting of the Board of Directors, in order to make improvements aimed at enhancing the effectiveness of the Board of Directors. Based on the idea that the roles and responsibilities of the Board of Directors must be shared by the entire Board of Directors, the Company believes that it is effective for all members who participate in meetings of the Board of Directors, including Audit & Supervisory Board Members, to conduct an evaluation by expressing their own opinions and engaging in free and open discussions. Accordingly, evaluation of effectiveness of the Board of Directors is currently conducted through self-assessment by the participating members at the Board of Directors meeting, without the evaluation by a third-party consultant from outside the Company. However, the Company recognizes the usefulness of an objective evaluation by a third party and continues to consider the introduction of third-party evaluations in order to lead it to activities that further enhance the effectiveness of the Board of Directors.

For the FY2021 evaluation, prior to the exchange of opinions for self-assessment at the meeting of the Board of Directors held in January 2022, a survey of the eight (8) Directors and the five (5) Audit & Supervisory Board Members was conducted on the topics below. Feedback on the results was then provided before the meeting, during which the discussions and exchange of opinions were conducted. The following is a summary.