Corporate governance
Basic Approach to Corporate Governance
Our corporate philosophy, “Creation and Harmony,” embodies our commitment to contributing to the realization of a society that is rich both materially and spiritually by creating excellent products that meet the needs of society, while valuing harmony with society, nature, and people. To put this philosophy into practice, the entire Company—starting with the Board of Directors—works together as one.
We believe that, in order to realize this philosophy, it is essential to appropriately implement corporate governance as a framework that enables fair, impartial, and timely decision-making, while respecting the perspectives of both internal and external stakeholders, including shareholders, business partners, local communities, and employees. Accordingly, we have established and are implementing the following basic policies:
- We take appropriate measures to substantively ensure shareholders’ rights, establish an environment in which shareholders can properly exercise those rights, and ensure the substantive equality of shareholders.
- For our sustainable growth and mid- to long-term corporate value creation, we strive to appropriately cooperate and collaborate with a wide range of stakeholders.
- We appropriately disclose our financial and non-financial information in accordance with applicable laws and regulations, and we also proactively provide information beyond legally required disclosures.
- Based on its fiduciary duty and accountability to shareholders, the Board of Directors appropriately fulfills its roles and responsibilities in order to promote the Company’s sustainable growth, enhance mid- to long-term corporate value, and improve profitability and capital efficiency.
- To support sustainable growth and the enhancement of mid- to long-term corporate value, we engage in constructive dialogue with shareholders through opportunities beyond the General Meeting of Shareholders.
Corporate Governance Structure
Internal Control System
To manage the organization in a sound and efficient manner, the Group has established and operates an internal control system covering the entire Group to achieve the following four objectives: the effectiveness and efficiency of operations, the reliability of reporting, compliance with laws and regulations related to business activities, and the safeguarding of assets.
The effectiveness of this internal control system is audited through close coordination among the Audit and Supervisory Committee, the independent auditor, and the Internal Audit Office.