Basic Approach to Corporate Governance
Akebono established the following corporate mission: "Through 'Friction and Vibration, their Control and Analysis,' we are determined to protect, grow and support every individual life". Under this corporate mission, we aim to create new values through monozukuri (manufacturing excellence) and further enhance corporate and shareholder value. In addition, as a manufacturer of critical safety parts, we believe that it is important to maintain and promote healthy and friendly relationships with all stakeholders including customers, shareholders, suppliers, our associates, and the regional communities in order to achieve sustainable growth and development.
To accomplish these, we have recognized that the strengthening of corporate governance is an issue of the utmost importance. Akebono shifted from a company with a board of corporate auditors to a company with an Audit & Supervisory Committee system, with the approval of the 120th Ordinary General Meeting of Shareholders held on June 24, 2021, to further strengthen corporate governance and enhance corporate value by enabling faster decision-making and further enhancing the supervisory function of the board of directors through measures such as allowing directors who are Audit & Supervisory Committee members to vote at the board of directors meetings.
In addition, as of October 1, 2021, Akebono established the "Internal Control Committee" for the purpose of developing and continuously improving the internal control system. The Internal Control Committee is positioned as a deliberative body for the "building and operation of the internal control system" and deliberates on correspondence and improvement in risk management, compliance, and protection of information assets.
Under these systems, Akebono regards it as important to listen to the suggestions of investors, including shareholders, through constructive and continuous dialogue and reflect them in our management, and Akebono intends to further promote interactive communication.
