Innovacell Inc.
504A・Growth Market・Pharmaceuticals
Innovacell Inc.
504A・Growth Market・Pharmaceuticals
Governance
A company with a board of statutory auditors. Composed of 5 directors (of which 1 is an outside director, an outside ratio of 20%) and 3 statutory auditors (all outside). While incorporating the strengths of a company with a nomination committee, etc. and a company with an audit and supervisory committee, the company adopts an independent oversight structure through its board of statutory auditors. The board of directors met 18 times during the fiscal year under review, with all directors in attendance (Mr. Matsuzawa attended all 4 meetings held after his appointment).
Risk Management
A risk management supervisory department has been established based on the Risk Management Regulations, and all officers and employees discuss and confirm the company-wide
Shareholder Returns
Currently in a phase of upfront investment and continues to pay no dividend. The forecast annual dividend for FY2026 (ending December 2026) is ¥0. As no distributable amount exists, the company maintains its no-dividend policy, prioritizing the buildup of internal reserves. No share buybacks or shareholder benefit programs.
Dividend Policy
Priority is given to building up internal reserves in preparation for upfront investment in product development. The actual annual dividend for FY2025 (ending December 2025) was ¥0. The forecast annual dividend for FY2026 (ending December 2026) is also ¥0 (¥0 at the second-quarter end and ¥0 at year-end). When dividends are paid, the basic policy is a single year-end dividend, though the articles of incorporation also permit an interim dividend by resolution of the Board of Directors. There has been no revision from the most recent dividend forecast.
ESG
The sustainability strategy places the greatest emphasis on human capital. The company has implemented the hiring of foreign nationals, women, and senior personnel, introduced a super flextime system and a free address (non-fixed seating) system, and established a performance-linked compensation system and an electronic approval system. Numerical targets such as the ratio of women and foreign nationals in management positions have not yet been set, and specific indicators and processes for sustainability-related risks, including climate change, are to be considered going forward.
Last updated: March 26, 2026