Corporate Governance
Governance
Nagase Viita has established "Nagase Viita in 2030" and our Sustainability Policy based on our corporate purpose: "Respect life, and embrace the well-being of people and the planet."
In FY2021, we launched our mid-term management plan ACE2.0 to achieve our ideal vision. In parallel with financial targets, ACE2.0 sets our non-financial targets as our Sustainability Action Plan, and one of our key policies as the pursuit of integrity through strengthening of corporate governance. We will continue to design this policy as a concrete framework and strive to review and strengthen our corporate governance.
Corporate Governance System
| Board of Directors | The Board of Directors is positioned as ‘the decision-making authority, empowered to set the Company’s policy and strategies, and supervise the execution of operations.’ The Board of Directors holds regular monthly meetings in addition to provisional meetings as necessary. |
|---|---|
| Risk Management & Compliance Committee | In addition to legal compliance, we have established and strengthened our risk management system and compliance system that ties into our corporate ethics. |
| Business Committee Meeting (BCM) | Comprised of directors and representatives of each division, the BCM is held once a month to discuss matters to be resolved by the Board of Directors and other significant matters of company-wide importance. |
Internal Control Systems
We have established a system (internal control system) to ensure that the execution of duties by directors and employees conforms to laws, regulations and Articles of Incorporation, and developed a system to ensure compliance with our other policies.
See the Basic Policy to formulate the Internal Control Systems
Audit System
- Status of Audit by Audit & Supervisory Board Members
- Nagase Viita has appointed an auditor to audit the status of the directors' performance by attending important meetings including the Board of Directors meetings, inspecting important approval documents, and by conducting interviews with directors, internal audit departments.
In addition, an accounting auditor is accompanied during asset inspections to monitor and verify that they maintain an independent position and conduct appropriate audits. To improve the effectiveness of Audit & Supervisory Board Members, at the end of the fiscal year we review their annual audit activities including the audit of policies and plans, and reflect this in the audit plans for the following fiscal year.
- Status of Audit by Internal Auditors
- The Internal Audit Department, which is responsible for internal audits, consists of two Qualified Internal Auditors (QIA). Audits assess the adequacy and efficiency of the Company’s business activities, based on internal auditing rules.
In addition, in line with the Internal Control Over Financial Reporting system, the Audit Office evaluates internal controls as an independent internal auditor and provides reports regarding the status of internal controls to directors, the auditor, and accounting auditor, as appropriate.
- Status of Audit by Accounting Auditor
- Independent audits are performed in a fair and impartial manner by the following specified limited liability partner.
| Certified Public Accountants | Auditing Firm | |
|---|---|---|
| Specified Limited Liability Partner Managing Partner | Rikio Watanabe | Ernst & Young ShinNihon LLC |
No certified public accountant, who has executed the aforementioned duties, has performed audits continuously for more than seven years.