Governance structure
The Board of Directors resolved recurrence prevention measures. These include PMI for PFH, ensuring the suitability of the person responsible for financial reporting, ensuring the effectiveness of PFH’s Board of Directors and audit functions, risk assessment and monitoring of subsidiaries, escalation and whistleblowing channels, education and training, and monitoring of implementation status.
| Item | Details |
|---|---|
| Committee | It states that, under the Company’s leadership, information sharing and coordination between the subsidiary and the parent company’s Audit and Supervisory Committee or internal audit department will be strengthened. The proportion of external committee members is Not disclosed. |
| Changes this time | The Board of Directors resolved recurrence prevention measures. These include PMI for PFH, ensuring the suitability of the person responsible for financial reporting, ensuring the effectiveness of PFH’s Board of Directors and audit functions, risk assessment and monitoring of subsidiaries, escalation and whistleblowing channels, education and training, and monitoring of implementation status. |
Items this document does not state (6)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.This was based on the cause analysis and recommendations of the Special Investigation Committee regarding inappropriate accounting at PFH. The Company identifies fraudulent accounting by PFH’s CFO, insufficient checks and balances and governance deficiencies at PFH, weaknesses in the Group’s governance framework, and insufficient post-acquisition review and monitoring as the causes.