Strengthening Group-Wide Risk Reduction and Response Systems
First written in FY2017. 5 of 7 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「To strengthen monitoring of overseas group companies, the company has assigned internal audit members to four regional corporate headquarters in China, Asia, Europe and the Americas. Under the direction of the Internal Audit Office at headquarters, they conduct assessments and provide guidance aimed at continuously improving internal controls.」
The risk management and internal audit framework has been given concrete form through the assignment of internal audit members to 4 regional corporate headquarters, together with evaluation and guidance by the head office's internal audit office. - FY2025AdvancedAnnual report
「During the fiscal year, on-site audits were conducted at 18 domestic companies. Overseas, on-site audits were conducted in South America, the Middle East, Southeast Asia and China.」
The Company disclosed a track record of conducting on-site audits at 18 domestic companies and in multiple overseas regions as part of risk management and its audit structure across the Group. - FY2024AdvancedAnnual report
「The Company will systematically and continuously examine and evaluate whether risk management, internal controls and compliance are all functioning effectively at each stage of the 3 lines: the business divisions, administrative divisions and audit divisions. From fiscal 2023, it will formulate an operational audit policy and conduct audits in each global region (Europe, the Americas, China and Asia). By increasing audit frequency, it will encourage appropriate day-to-day monitoring of the business divisions (first line) and administrative divisions (second line) of each group company.」
In addition to operating the three lines model and global regional audits, the company has progressed to a stage of increasing audit frequency and promoting routine monitoring of business and administrative divisions. - FY2023AdvancedAnnual report
「We will systematically and continuously examine and assess the effective functioning of risk management, internal controls and compliance at each stage across the 3 lines of business divisions, administrative divisions and audit divisions. From fiscal 2023, we established an operational audit policy and will conduct audits for each global region: Europe, the Americas, China and Asia.」
The previous management structure centered on the Risk and Ethics Committee has taken concrete form as integrated review and evaluation through the three lines model and business audits organized by global region. - FY2021RestatedAnnual report
「With regard to risk management, we have established the Basic Risk Management Regulations. The Risk and Ethics Council, chaired by the president, deliberates on important matters relating to risk management activities. Under the executive officer responsible for risk management, we monitor the status of risk assessment and management and work to reduce risks and strengthen the systems for responding when risks materialize across the Group.」
The group-wide risk management system, comprising the Risk and Ethics Committee chaired by the president and the executive officers responsible for business execution, remains in place. - FY2020AdvancedAnnual report
「Under the president, who is the chief risk management officer, the Group holds a Risk and Ethics Meeting every six months as a deliberative body. The meeting receives reports on initiatives addressing risks that the company should prioritize and compliance-related risks, and makes necessary decisions.」
The risk management structure has taken concrete shape, with the president serving as the ultimate person responsible and a system in which priority risks and responses are deliberated and decided at semiannual Risk and Ethics Council meetings. - FY2017First statedAnnual report
「Under the executive officer responsible for risk management, we monitor risk assessment and management and work to reduce risks across the Group and strengthen systems for responding when risks materialize.」
First detailed description of a framework under the responsible executive officer for assessing and managing risk and strengthening Group-wide risk reduction and response.