Under the belief that ensuring the transparency and efficiency of management for stakeholders is a fundamental element of corporate governance, the IDEC Group strives to continuously strengthen its corporate governance to enhance its corporate value.
With the resolution adopted at the General Meeting of Shareholders held in June 2018, the IDEC Group will shift to a Company with an Audit and Supervisory Committee. Through this transition, we, as a global company, have established a system that enables speedy decision-making, by delegating the whole or part of important business execution decisions to the executive directors. Under the current system, all directors, including Audit and Supervisory Committee members, have voting rights, facilitating more active discussions among the directors from their respective roles—business execution, audit and supervision—thereby strengthening the auditing and supervisory functions of management. The Board of Directors is comprised of ten(10) members. Five(5) are not Audit and Supervisory Committee members (including three(3) outside directors) and five(5) are Audit and Supervisory Committee members (including four(4) outside directors). By appointing many outside directors, we ensure transparency of management.
The CSR Committee, established in April 2018, reports to the Board of Directors regarding not only risk management, but also CSR activities including environment, social, safety and quality efforts.