Stronger Measures for Compliance
November 8, 2002
Ensuring thorough observance of corporate ethics and strict compliance with laws, regulations, our company's rules and social norms is one of the most important tasks confronting the management of our company and our company's group. Consequently, we have decided to fully acquaint all relevant personnel with this task and to establish an appropriate in-house system for the task under the personal leadership of our company's president, while at the same time further reinforcing the relevant measures.
These steps call for all personnel in our company and group, including the boards of directors, to acquire an even clearer understanding of the importance of compliance and exert unflagging effort in respect to its enforcement. We understand clearly that we must go beyond just fulfilling our minimum corporate obligations when acting as a corporate entity, and to attach primary importance to realizing even higher levels of fairness and ethics in our society.
To this end, we designated a period of a month and a half from September 17 to October 31 this year as "Month for the General Review of Compliance" and set up an ad hoc committee for the reinforcement of compliance under the chairmanship of our company's president. During this period, all divisions and sections of our company, as well as group member companies, were called upon to undertake general reviews of compliance. In the meantime, we also decided to take the following steps in response to a request from the Japan Business Federation:
- Holding regular meetings of the Compliance Committee
Our existing Corporate Ethics Committee will be renamed the Compliance Committee. This committee will meet regularly under the chairmanship of our company's president. In addition, general reviews of compliance will be undertaken regularly.
- To create the post of Chief Compliance Officer
Our senior managing director in charge of general affairs will be appointed Chief Compliance Officer of our company on November 28 to take charge of matters pertaining to compliance.
- To establish the Compliance Chamber
A Compliance Chamber will be established in the General Affairs Group on November 10 to serve as the secretariat of the Compliance Committee.
- To improve education and training
A Compliance Manual will be formulated to improve and expand relevant education and training. In addition, group and team chiefs have been instructed to take the lead in creating opportunities for discussion within their groups on the need to ensure compliance at all times, and thereby to make possible its thorough enforcement.
- To widen "windows" for consultation
"Windows" for consultation with the chiefs of the General Affairs Group and the Human Resources Group No.1 are already available for persons having doubts concerning compliance. These "windows" accessibility will be widened.
- To ask group members at home and abroad to take appropriate steps
Overseas subsidiaries and group member firms have also been asked to continue to take necessary steps for reinforcing compliance.