Basic approach
We consider the improvement of corporate governance to be a key business issue for raising our performance, value, and social credibility.
Corporate governance structure
Our Board of Directors comprised of eight members makes decisions on key issues in INOAC's business. Each board member reports the execution, financial, and performance statuses of his/her division, based on which the Board supervises and controls the business execution of the company. In order to also separate supervisory and executional responsibilities in management, INOAC has introduced an executive officer system. Each executive officer, endowed with his/her own authority from the Board, acts as the head of the department, group company or major functional organization to speed up decision-making, optimize business operations, and handle critical business execution.For our auditing function, we have a Board of Auditors composed of three company auditors including two external auditors. The company auditors attend important meetings such as board meetings and audit the execution of duties by the directors by inquiring about the status of their business operations.
Internal control system
We are implementing various measures to ensure that we comply with applicable laws as well as the company's articles of incorporation in our business execution. For information management, we determine the responsible department or section and storage period for each document according to our Document Control Procedure. The Executive Management Committee controls risk management, and Crisis Management Committee meetings are held when a crisis occurs.For associated and affiliated companies we have established our Governance Rules for Associated Companies. We also clarify rules for business operations and conduct both operational and accounting audits as needed.