Risk Management and Compliance
Risk management and compliance
The Risk Management Committee manages and addresses strategic and other risks as a whole systematically from a company-wide perspective, and makes management decisions specifically focusing on risk management. The Committee is chaired by President and Representative Executive Officer and the Committee members include the Senior Executive General Managers of the supervisory units and the presidents of main subsidiaries. The Committee assesses a variety of risks, prepares necessary measures, and conducts progress management, etc. using extensive specialized knowledge of the Committee members chosen from among the supervisory units.
The Company has established the “Compliance Committee” (whose membership includes a corporate lawyer) for the purpose of appropriately addressing the issues of the Group compliance management practices. The Committee draws up a policy for addressing matters involving serious compliance-related violations, continuously oversees development of the foundations of compliance system (e.g. preparation of promotion systems and plans) and the status of implementation through close collaboration with departments in charge of promoting compliance and promotes compliance with laws and regulations, corporate ethics and other such standards.
Both the Committees report details of their deliberations to the Audit Committee regularly (about two times a year) and in a timely manner.
The Company has established a whistleblowing system that enables all the Group’s officers and employees as well as all individuals working at the Group (including part-timers and employees seconded from business partners) to notify the Compliance Committee directly with respect to compliance-related issues, and to seek corrective action. The Company has set up points of contact for whistleblowers both internally and outside the Company (a corporate lawyer).
The Group’s internal company rules rigorously provide for the whistleblowing system in terms of protecting the confidentiality of whistleblowers and prohibiting any disadvantageous treatment of any whistleblower.
*There were 36 whistleblowing cases in fiscal year 2019.
Registered in the Whistleblowing Compliance Management System certification (self-declaration of conformity registration system)
The “JFR Group Compliance Hotline” was registered in the “Whistleblowing Compliance Management System certification (self-declaration of conformity registration system)” implemented by the Consumer Affairs Agency (hereinafter the “WCMS certification”). The WCMS certification is a system in which a business operator that conforms to the certification standards based on the guidelines of the Consumer Affairs Agency is registered after a designated registration agency confirms the content of the application submitted by the business operator.