Improving Compliance, Governance and Internal Controls at Chinese Subsidiaries
First written in FY2018-Q3. 7 of 11 entries say "Restated". Latest entry: FY2022.
No other company in this theme has enough history to compare yet.
- FY2022DroppedAnnual report
「We transferred our equity interest in Wuxi Sanwa Plastic Products Co., Ltd. to another company and excluded it from the scope of consolidation.」
We had continued improving compliance, governance and internal controls at the Chinese subsidiary, but the transfer of the company ended initiatives targeting that subsidiary. - FY2021RestatedAnnual report
「In principle, our subsidiaries hold meetings of the board of directors and other bodies once a month under our management and supervision, and report their operating results and financial position to us. Internal audits are also conducted as appropriate by the Internal Control Office, and audit results are reported to the board of directors as necessary to enhance the effectiveness of controls at the subsidiaries.」
The group continues its control framework through monthly meetings and reporting by subsidiaries, internal audits by the Internal Control Office, and reporting to the board of directors. - FY2020RestatedAnnual report
「In the overseas business, we will continue to strengthen governance at the Chinese subsidiary, thoroughly improve operating efficiency and cost controls, and conduct group-wide sales activities in cooperation with our Japan operations to offset the decline in sales of products for the US market. We aim to acquire new orders, mainly from Japanese companies, establish a stable earnings base and achieve profitability at an early stage.」
The company continues its policy of improving the Chinese subsidiary through stronger governance, greater operating efficiency, cost controls and cooperation with the Japan operations. - FY2020-Q3RestatedAnnual report
「In the overseas business, we worked to strengthen the management structure and improve and reinforce purchasing controls at Wuxi Sanwa Plastic Products Co., Ltd., our Chinese subsidiary, but」
For the Chinese subsidiary, we continue to strengthen the management structure and improve and reinforce purchasing controls. - FY2020-Q2RestatedAnnual report
「In the overseas business, we worked to strengthen the management structure and improve purchasing controls at Wuxi Sanwa Plastic Products Co., Ltd., our Chinese subsidiary, but」
For the Chinese subsidiary, we continue to strengthen the management structure and improve purchasing controls. - FY2020-Q1RestatedAnnual report
「Going forward, we will continue to thoroughly review the management structure, including improvements to internal controls, and strengthen the sales structure.」
For the Chinese subsidiary, we continue to review the management structure, including improving internal controls, and strengthen the sales structure. - FY2019AdvancedAnnual report
「To strengthen governance, we introduced external consultants in addition to support from Japan, sought to improve the awareness of local management executives, and reviewed the internal control system to reflect actual business operations. As a result, improvements have progressed in both business performance and corporate culture.」
In addition to improving the existing guidance and supervision structure and internal controls, the company introduced external consultants, improved the awareness of local management executives, and reviewed internal controls to reflect actual business operations. - FY2019-Q3RestatedAnnual report
「We will continue to strengthen the management structure, including improving internal controls, and link this to stronger production and sales systems.」
For the Chinese subsidiary, we continue to strengthen the management structure, including improving internal controls, and the production and sales systems. - FY2019-Q2RestatedAnnual report
「Following the discovery last year of misconduct by a former officer and employee of the Chinese subsidiary, the company worked to improve its governance structure, including strengthening the subsidiary's guidance and oversight systems and internal controls, as well as improving compliance awareness.」
We continue to improve the system for guiding and supervising the Chinese subsidiary, its internal controls and compliance awareness. - FY2019-Q1AdvancedAnnual report
「Going forward, we will completely overhaul the management structure at the new plant and work to develop the business by strengthening customer confidence through improvements in quality and delivery times, as well as more active 5S activities, the basics of manufacturing.」
In addition to improving compliance, governance and internal controls following the misconduct issue, the company has presented specific measures including a complete overhaul of the management structure following the plant relocation, improvements in quality and delivery times, and more active 5S activities. - FY2018-Q3First statedAnnual report
「Following the misconduct issue involving a former officer or employee, we returned to basics and have been thoroughly communicating compliance requirements to employees and advancing governance and internal control improvements.」
Following the misconduct issue at the Chinese subsidiary, the company has outlined initiatives to communicate compliance requirements to employees and improve governance and internal controls.