Basic concept of corporate governance
The Company considers corporate governance one of its topmost management priorities, in order to secure the trust of its shareholders and fulfill its corporate social responsibilities.
In accordance with this basic philosophy, the Company strives to enhance its business productivity in prompt and flexible response to the changes in the business environment and the market, and for maintenance, the Company addresses strengthening of supervisory function to management and the internal control in order to maintain and enhance its management efficiency and transparency, and, thereby, enhance its corporate governance in accordance with the following Basic Policy.
- The Company strives to respect its shareholders’ rights and secure its shareholders’ equality.
- The Company strives to respect its shareholders’ rights and positions, and work properly in harmony with its stakeholders (shareholders, customers, employees, communities and so on).
- The Company strives to disclose its corporate information timely and property, and, thereby, secure transparency and fairness.
- The Company strives to cause its board of directors meeting and so on fulfill properly the functions and the responsibility, in light of its fiduciary responsibility and accountability to its shareholders.
- The Company strives to have constructive dialogues with its shareholders.
Overview of corporate governance system
The Company has in place a Board of Directors comprising eight members, of whom three are outside directors, and a Board of Corporate Auditors. This board has four members, of whom three are outside corporate auditors.
The Board of Directors meets monthly to make decisions on important items and supervise the execution of operations by directors.
The Company employs an executive officer system.
By separating the functions of management decision-making and supervision from operational execution, the Company aims to strengthen its operational execution structure and bolster management efficiency.