Corporate Governance
Basic Approach to Corporate Governance
The objective of corporate governance is to maximize corporate value by assuming a global perspective and by carrying out business operations in a transparent and fair manner.
Akebono corporate governance goals include increased management transparency, prompt and appropriate decision-making, timely disclosure of relevant information, upgrading of internal control systems and thorough enforcement of regulatory compliance.
Corporate Governance Status Report
Believing that an auditing system operated by a dedicated body ensures appropriate business management practices, Akebono has established an internal Board of Auditors. This board is tasked with auditing meetings of the Board of Directors, which are normally held once a month, with additional meetings held when necessary.
To deal with important business challenges by making prompt and appropriate, yet responsibly deliberated decisions, Akebono has established advance consultation bodies, namely the Management Council and the Technology Council.
To clarify responsibilities and authority and to improve management efficiency, an executive officer system was introduced in April 2000.
Furthermore, in order to incorporate independent viewpoints into our management, Akebono invites individuals from outside of the company to become our board members.
Corporate Governance Structure
Maintaining an Internal Control System
In 2006, the "Basic Policy Regarding the Establishment of Internal Control Systems" was created to respond to risks related to company size, business characteristics and management actions. Based on this policy, Akebono operates internal control systems through the Group and maintains systems related to risk management, adherence to laws and regulations, effective business performance and accurate financial reporting. We place highest priority on efficiently upgrading our internal control systems to adapt to changes in operating environment as well as other areas. At the same time, we also engage in regular checks, monitoring and verification.
With regard to internal control based on the Financial Instruments and Exchange Act, company financial reporting systems are maintained to ensure the reliability of information that can have a major influence on financial statements.
