The Suzuken Group positions the strengthening of corporate governance as an important theme of management. Moreover, through efforts focused on strengthening our managerial systems, strengthening our risk management systems, and promoting disclosure and accountability, we endeavor to increase stakeholder trust in our group and achieve our continued and sound development.
Strengthening our management framework
Suzuken employs a system in which the Board of Directors is responsible for the oversight of management and the decision-making process and executive officers are responsible for performing business operations. We have terminated the retirement benefit system for directors and corporate auditors, reduced the number of directors, and established a compensation system that is linked to the company's performance and each individual's contributions. In addition, at the conclusion of the 75th General Meeting of Shareholders held on June 25, 2021, we transitioned to the system of a company with an Audit and Supervisory Committee, with the aim of further enhancing the company's corporate governance and strengthening the supervisory and check functions of the Board of Directors.
For the management of subsidiaries, we supervise and audit the performance of executives and employees of subsidiaries. The primary measures are sending directors and corporate auditors to subsidiaries, receiving reports and approving decisions as required by the related company management rules, and periodically auditing subsidiaries by using Suzuken’s Audit and Supervisory Committee, Internal Audit Office and accounting auditor. Furthermore, each subsidiary has an internal control system and guidance program that reflects the characteristics of its business operations.