Corporate ProfileCorporate Governance
Nittan Valve pursues sustainable corporate growth and medium- and long-term improvement in corporate value. We have the Basic Policy for Corporate Governance in place, which sets out our basic stance, framework, and principles for the implementation of corporate governance.
In accordance with the Basic Policy for Corporate Governance, we ensure the integrity of our business operations with a triple focus on enhancing the corporate governance framework, promoting the compliance framework, and improving internal control systems.
Enhancing the corporate governance framework
- Promote Auditing for Company with Board of Statutory Auditors
- Ensuring the effectiveness of existing Broad of Company Auditors, and auditors in the Board of Company Auditors audit the business execution for directors.
- Establishing the Outside Directors
- Outside Directors observe the management strictly with their professional knowledge and experiences.
- Introducing the Executive Officer System
- Achieving efficient and functional management by delegate authority for business execution to Executive Officers.
Nittan Valve Governance Framework
Promotion of the compliance framework
- Formulation of the global compliance program
- Top management commits to compliance and establishes the global management framework
- Establishment of Compliance & Risk Management Committee
- Set up Compliance & Risk Management Committee designed to raise compliance awareness and ensure legal and regulatory compliance
- Establishment of the compliance officer
- Appoint a person in charge of compliance in each group company and each department of Nittan Valve; define responsibility and promote the detailed management framework
Improvement on internal control systems
- Ensuring clear and rigorous implementation of decision-making procedures based on rules for requesting an approval.
- Institute rules for the Board of Directors' and for requesting an approval to ensure quick and visible formulation of business management decisions
- Introduction of the global whistle-blower system
- Establishment of the global whistle-blower system as global hotlines with inside and outside organization enables direct access to Nittan Valve top management
- Enhancement of internal audit function
- Create a standalone internal audit section answerable directly to the President to achieve effective and efficient internal audit function