The board of statutory auditors consists of three statutory auditors and three alternate auditors whose term of office lasts for three financial years and who can be reappointed. Minority shareholders are allowed to elect one statutory auditor and one alternate auditor.  The board is appointed at the shareholders’ meeting.  Statutory auditors are selected from independent persons following the same criteria as applied to directors and cannot hold the position of statutory auditor for five other companies or organizations whose shares are listed on a regulated market.