In order for the Noritz Group to improve corporate value over the long term, we must have accurate management judgment and prompt decision-making. Taking into account the interests of a wide range of stakeholders, we will establish a system enabling highly transparent, sound management.

Basic Policy on Corporate Governance

Noritz recognizes that the enhancement of corporate governance is one of the most important management issues and aims to raise corporate value through its business activities for its shareholders and other stakeholders. We are determined to properly respond to the changing business environment, become more sound and transparent, and execute swift decision-making and optimal management judgement.

Establishment of Corporate Governance Guidelines

Noritz believes that putting the Corporate Governance Code into practice is important for achieving effective corporate governance. Thus, based on the resolution of the Board of Directors on March 2016, the Corporate Governance Guidelines was established. It is comprised of four chapters, concerning general rules, relationship with stakeholders, information disclosure policies, and corporate governance structure.
The Corporate Governance Guidelines (107KB; PDF)

Corporate Governance Structure

●Adopted a corporate governance structure, which is composed of the board of directors and the corporate auditors/board of corporate auditors.
●Nine directors including two outside directors
●Four corporate auditors including two outside corporate auditors

Compliance

By defining compliance as adherence to corporate ethics, which include laws and regulations, the Articles of Incorporation, internal rules, and social rules, Noritz has formulated the Noritz Group Code of Ethics and is committed to comply with it.

Compliance Promotion Structure

Compliance Promotion Activities

We carry out the following compliance promotion activities in order to foster an organizational culture in which a compliance mindset is firmly established throughout the Noritz Group, and each department and person takes full responsibility for their own compliance.

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Risk Management

Strengthening Internal Controls
—Establishing an Organization that "Cleans Itself"—

To improve the quality of management, it is essential to put in place internal controls.

At the Noritz Group, we make efforts in the following three areas based on our Code of Conduct, and strive to establish an organization that "cleans itself."

Compliance
We shall abide by corporate ethics—not only laws but also social norms—and develop personnel who carry out their work in a fair and equitable manner.

Ensuring Reliability of Financial Reports
We shall establish a system to handle the internal control and reporting system set forth in the Financial Instruments and Exchange Act.

Improvement of Effectiveness and Efficiency of Work
We shall establish an organization capable of continuous improvement.