Promoting Philanthropic Activities
Corporate Governance
We are working to strengthen corporate governance to enhance the corporate value of the Toyota Boshoku group and ensure highly sound, transparent and efficient management.
Corporate governance system
The Board of Directors holds meetings at least once a month to decide on important management issues, such as policies for the fiscal year, project plans and investment in facilities, while also monitoring conditions related to the implementation of operations.
The Company currently utilises an auditor system. Five auditors (includes three outside auditors, two of whom are appointed as outside auditors) attend key company meetings in accordance with audit procedures and plans. They also conduct audit hearings and visiting audits as well as monitor the execution of operations of directors and the administration and the status of financial affairs of the group's subsidiaries. The Company has established a dedicated post for internal auditing as well. Toyota Boshoku also has introduced an executive officer system separating executive roles into management decision-making and execution of operations with the objective of improving management efficiency and strengthening the supervision functions required in executing operations.
Every year, the Company reviews regulations related to global approval in consideration of the balance between local circumstances, merit and governance and decision-making along with advancements in business globalisation.
- Corporate governance system
Current status of internal controls
The Toyota Boshoku group established the TB Way, which clearly expresses the group's values, stance and action to foster a sound corporate culture. It also ensures thorough adherence to the Toyota Boshoku group code of conduct -the mindset of company members in performing their duties- through various educational programmes for members.
In addition, Toyota Boshoku and our group companies conduct self-evaluations on the status of internal controls via a checklist and the respective internal auditing departments are working to prevent inappropriate behaviour and mistakes globally by conducting audits at Toyota Boshoku divisions, plants, subsidiaries and affiliates. Audit results are reported to top executives. The departments also receive advice from auditors and cooperate with auditors in the conduct of auditing activities.
Enhancing disclosure
The Toyota Boshoku group is committed to disclosing information required by shareholders, investors, business partners and local communities in a timely and appropriate manner as well as conducting public information-sharing activities that society can trust. This is stated in the Toyota Boshoku group code of conduct, which was formulated by the CSR Committee as a guide for the behaviour of the company and its members. Based on this, the Public Affairs Division, Accounting & Finance Division and Legal Division have formed an information management department for the strict management of corporate information and disclosure of information in an accurate, timely and fair manner.
