Governance Framework Based on the Audit & Supervisory Board, Internal Audit and the Risk and Compliance Committee
First written in FY2019. 2 of 5 entries say "Restated". Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Based on the basic principles set out in ① above, the Company has adopted a company with an Audit and Supervisory Committee in order to promote the separation of management oversight and execution, exercise oversight of management through Board of Directors deliberations focused primarily on management policies, and enable swift and decisive decision-making by delegating authority for some decisions on important business execution to the President or other directors responsible for business execution.」
The Company changed from a company with a board of company auditors to a company with an Audit and Supervisory Committee, establishing a structure featuring the separation of oversight and execution, delegation of authority, and an Audit and Supervisory Committee comprising all 3 outside directors. - FY2022AdvancedAnnual report
「Our company is structured as a company with an Audit & Supervisory Board. We have appointed 2 outside directors and 3 outside Audit & Supervisory Board members to provide highly effective oversight of management and establish and maintain sound, transparent management.」
The structure, including 2 outside directors and 3 outside Audit & Supervisory Board members, is clearly stated, and the governance framework comprising the Board of Directors, Audit & Supervisory Board, Internal Audit Office, accounting auditor, and Risk and Compliance Committee is set out in detail. - FY2021RestatedAnnual report
「The company has adopted the company-with-a-board-of-corporate-auditors structure. It has determined that adopting and maintaining this structure is effective in building and maintaining sound and transparent management, because the board of corporate auditors, a majority of whose members are outside corporate auditors, provides highly effective management oversight while ensuring objectivity and neutrality.」
The company continues to maintain a governance structure comprising the Audit & Supervisory Board, outside officers, the Internal Audit Office, the accounting auditor, and the Risk and Compliance Committee. - FY2020RestatedAnnual report
「The company has adopted the company-with-a-board-of-corporate-auditors structure. It has determined that adopting and maintaining this structure is effective in building and maintaining sound and transparent management, because the board of corporate auditors, a majority of whose members are outside corporate auditors, provides highly effective management oversight while ensuring objectivity and neutrality.」
The company continues to maintain a governance structure comprising the Audit & Supervisory Board, outside Audit & Supervisory Board members, the Internal Audit Office, the accounting auditor, and the Risk and Compliance Committee. - FY2019First statedAnnual report
「The company has adopted the company-with-a-board-of-corporate-auditors structure. It has determined that adopting and maintaining this structure is effective in building and maintaining sound and transparent management, because the board of corporate auditors, a majority of whose members are outside corporate auditors, provides highly effective management oversight while ensuring objectivity and neutrality.」
The company combines the Board of Directors, the board of corporate auditors, including outside corporate auditors, an Internal Audit Office reporting directly to the president, and a Risk and Compliance Committee. The company has 7 directors and 3 corporate auditors, and the committee generally meets at least once per quarter.