The Toyota Boshoku group is working to comprehensively reinforce risk management and reduce risk in order to respond swiftly to major risk that includes management risk, risk in daily operations, risk such as disasters and accidents, risk arising from the external environment such as global warming and water and social reputation risk*.
* Risk of losing societal trust
Risk management activities
Businesses, regions, corporate operation, and other functions are working together to prepare for pertinent risks and to implement a PDCA (plan-do-check-act) cycle for risk management activities. In fiscal 2020, Toyota Boshoku established risk management meetings at Japanese affiliated companies and business entities outside Japan, with the purpose of identifying risks and conducting risk assessments. Toyota Boshoku comprehensively ascertains and manages risks, and then shares the risks with the Toyota Boshoku group in an effort to prevent and minimise damages.
System & risk management activities
Initiatives in fiscal 2020
Toyota Boshoku created a risk map by using 5 stages to assess 10 classifications and 42 items of risks. Also, as a result of re-evaluation during fiscal 2020, we added 13 new items, assessed 55 items, and selected company-wide priority risk areas (earthquakes, typhoons/flooding, infectious diseases, fraud damages, and economic deterioration).
In particular, for fraud damage, Toyota Boshoku established and implemented recurrence prevention measures from perspectives of preventing deception, strengthening payment procedures, optimising remittance procedures, and monitoring/auditing.
Risk inventory chart: 10 classifications
Confidentiality and information security management
In recent years, due to the complexity and diversification of cyberattacks, confidential information and information systems of company, as well as the plant facilities connecting to the intra-network, have become targets of cyberattacks and the importance of information security is increasing for Toyota Boshoku.
In Toyota Boshoku we recognize that protecting the information assets entrusted to us by our customers and business partners against the threat of such cyberattacks is one of the most important issues in our business activities.
Under these circumstances, we formulated "Information Security Policy" that Toyota Boshoku and our subsidiaries aim to work together to protect the information assets obtained from customers and business partners and the information assets related to our business activities and we are working to strengthen information security systematically and continuously.
Measures against COVID-19
Toyota Boshoku established a new COVID-19 Comprehensive Countermeasures Segment, with the President as the segment chief. We have worked to prevent the spread of infection according to the following basic policies: 1) Give top priority to the lives and safety of company members, 2) Minimise operational impact on customers, and 3) Appropriately disclose information to the local community.
In administrative and engineering divisions at Toyota Boshoku, telework had been possible for a maximum of two days per week. We changed this policy to allow members to telework consecutively all day long in order to minimise contact among members. At the lowest, the number of members coming to work decreased to approximately 30%. At plants, we implemented infection prevention measures by installing partitions and making disinfectant solutions available.
Additionally, Toyota Boshoku reduced the number of masks procured from the market by utilising our strength in MONZUKURI to produce masks in-house and distribute them to company members. We also donated masks and face shields produced in-house to medical facilities and local governments.