Risk of Misconduct and Loss of Credibility Due to Inadequate Management of Overseas Subsidiaries
First written in FY2020. 3 of 5 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2024: 4 of 16 companies on the "Worse" side.
14 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「The Company designates the operating risks of overseas subsidiaries as key Group risks and conducts regular operational audits of overseas subsidiaries based on established procedures and plans, including the operation of the key fundamental policies and regulations.」
The Company continues to manage subsidiaries through the application of rules, internal reporting systems, key basic rules, and regular operational audits. - FY2023RestatedAnnual report
「The Company designates the operating risks of overseas subsidiaries as key Group risks and conducts regular operational audits of overseas subsidiaries based on established procedures and plans, including the operation of the key fundamental policies and regulations.」
The Company continues to manage subsidiaries through the application of rules, internal reporting systems, key basic rules, and regular operational audits. - FY2022RestatedAnnual report
「The Hasegawa 香料 Code of Conduct and compliance rules also apply to subsidiaries, and the Company is working to establish a compliance framework across the Group. Subsidiaries have also established internal reporting systems to receive reports of illegal conduct. Overseas subsidiaries have established key basic rules, strengthening their governance frameworks.」
The Company continues to manage subsidiaries through the Code of Conduct and compliance rules, internal reporting systems, and key basic rules for overseas subsidiaries. - FY2021MitigatedAnnual report
「The Hasegawa 香料 Code of Conduct and compliance rules also apply to subsidiaries, and the Company is working to establish a compliance framework across the Group. Subsidiaries have also established internal reporting systems to receive reports of illegal conduct. Overseas subsidiaries have established key basic rules, strengthening their governance frameworks.」
The Company identifies the application of the Code of Conduct and compliance rules, internal reporting systems, key basic rules at overseas subsidiaries, and regular operational audits as measures to address the risk of deficiencies in subsidiary management. - FY2020First statedAnnual report
「However, if fraud or other misconduct occurs because the management and corporate governance of domestic and overseas subsidiaries are inadequate, the resulting deterioration in the corporate image and loss of trust could affect the Group’s results.」
For the first time, deficiencies in subsidiary management and corporate governance associated with the expansion of global operations have been identified separately as one of the key risks.