Strengthening Oversight Through Outside Directors, an Executive Officer System and Internal Audit
First written in FY2016. 7 of 11 entries say "Advanced", first in FY2018. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Our governance framework provides for a 30-person team to conduct internal audits and evaluate internal controls over financial reporting for our company and each group company.」
A 30-person team conducts group-wide internal audits and evaluations of internal controls over financial reporting, with risk-based audits and direct reporting to the Board of Directors established as operating practices. - FY2025AdvancedAnnual report
「We have chosen the company-with-an-audit-and-supervisory-committee structure, which allows us to delegate a substantial portion of decisions on important business execution to directors responsible for business execution, with the aim of enhancing deliberations by the Board of Directors and strengthening its supervisory function. In addition, our group companies have chosen the company-with-an-audit-and-supervisory-board structure because we believe that directors with extensive knowledge and experience in industries, market trends, products, merchandise and services can lead to prompt and optimal management decisions.」
We continue to operate an oversight and execution structure combining the company-with-an-audit-and-supervisory-committee structure, outside directors, the executive officer system and internal audits. - FY2023AdvancedAnnual report
「To enhance audits by the Audit and Supervisory Committee and ensure the independence of the internal audit division, we changed the division from an organization reporting directly to the Representative Director and President to an organization reporting directly to the Audit and Supervisory Committee, effective 22 June 2022.」
Following the change to a company with an audit and supervisory committee, the internal audit division reports directly to the Audit and Supervisory Committee, establishing the independence and effectiveness of internal audits. - FY2022ReframedAnnual report
「By a resolution to amend the Articles of Incorporation at the 18th Annual General Meeting of Shareholders held on 22 June 2022, we changed from a company with an audit and supervisory board to a company with an audit and supervisory committee.」
The former oversight structure centered on outside directors, executive officers and internal audits was reorganized following the change to a company with an audit and supervisory committee, with an internal audit division reporting directly to the Audit and Supervisory Committee and a structure including 4 Audit and Supervisory Committee Members. - FY2021RestatedAnnual report
「Amid a rapidly changing business environment, the company and the group believe that directors with extensive knowledge and experience in industries, market trends, products, merchandise and services can lead to prompt and optimal management decisions. Accordingly, we have adopted the company-with-audit-and-supervisory-board structure, while also appointing outside directors and strengthening the executive officer system and internal audit framework, thereby enhancing corporate governance from both operational and management perspectives.」
The basic framework for strengthening oversight through outside directors, the executive officer system and internal audits remains in place. - FY2019AdvancedAnnual report
「In addition, all internal audit personnel at the group's subsidiaries are assigned concurrently to our internal audit division, and our company conducts internal audits for all group companies as part of its governance framework.」
The operating framework specifies that our division conducts internal audits for all group companies, establishing a group-wide oversight structure. The internal audit function comprises 21 people. - FY2018AdvancedAnnual report
「We operate primarily the following bodies to enhance business execution, auditing and supervisory functions.」
In addition to outside directors, executive officers and an internal audit function, the group operates a Group Management Strategy Committee, an Independent Advisory Committee, and multiple audit and liaison meetings, establishing specific mechanisms for oversight and information sharing. Internal audits are conducted by a 26-person team. - FY2016First statedAnnual report
「The Company has adopted a company-with-audit-committee system and has also strengthened its corporate governance framework through the appointment of outside directors, the introduction of an executive officer system and enhancement of its internal audit structure, thereby strengthening both operations and oversight.」
The organization comprises 3 outside directors, 8 executive officers and 23 internal auditors.