Strengthening the subsidiary management framework following the discovery of misconduct
First written in FY2019. 2 of 4 entries say "Restated". Latest entry: 2026-04-03.
- 2026-04-03AdvancedGeneral Meetings of Shareholders
「After the doubts in this matter came to light, he has fulfilled his responsibilities by requesting an investigation into the facts and circumstances and making recommendations as appropriate regarding efforts to determine the causes and ensure thorough compliance with laws and regulations.」
The disclosure describes the outside director's involvement in the investigation, determination of causes, and efforts to ensure compliance following the suspicion of an Antimonopoly Act violation. - FY2024RestatedAnnual report
「For the purpose of legal compliance and risk management, the Group has established a Compliance and Risk Management Committee comprising members selected from the Company's divisions and subsidiaries. After identifying the likelihood and timing of risks materializing, as well as the nature of their potential impact on financial position, operating results and cash flows, the committee considers specific measures to minimize such impacts and reports the details to the Board of Directors.」
The Group has reconfirmed that the Compliance and Risk Management Committee assesses the magnitude, timing and impact of risks and reports to the Board of Directors. - FY2021RestatedAnnual report
「For the purpose of legal compliance and risk management, the Group has established a Compliance and Risk Management Committee comprising members selected from the Company's divisions and subsidiaries. After identifying the likelihood and timing of risks materializing, as well as the nature of their potential impact on financial position, operating results and cash flows, the committee considers specific measures to minimize such impacts and reports the details to the Board of Directors.」
The Compliance and Risk Management Committee continues to assess the magnitude, timing and impact of risks and report to the Board of Directors. - FY2019First statedAnnual report
「The specific measures to prevent recurrence are as follows: ① Review of the division of duties and establishment of rules for business processes at the subsidiary concerned ② Enhancement of compliance training ③ Strengthening of the management system for the subsidiary concerned (a) Each quarter, the Company's Board of Directors will receive reports on the progress of major projects at the subsidiary concerned and issues arising at operating sites, thereby strengthening oversight by the Board of Directors.」
In response to the fraud, the Group has newly presented measures to prevent recurrence, including separation of duties, mandatory purchase orders and order acknowledgments, a ban on cash collection, document reconciliation, compliance training, quarterly reporting to the Board of Directors, dispatch of officers, and expansion of accounting and internal audit personnel.