Makita believes that bolstering its supervision of management is a crucial means of enhancing management transparency. It has strengthened the functions of the Board of Directors and the Audit & Supervisory Board and is working to enhance its corporate governance system further. In view of the need to ensure that corporate governance systems function effectively, the Company is endeavoring to proactively and promptly disclose information in a manner that promotes proper and transparent operations. The Company is also working to use the Internet to disclose financial information and otherwise undertake a broad range of information disclosure initiatives.
< Document >
|Articles of Incorporation|
|Share Handling Regulations|
Makita adopts an audit-and-supervisory-board system.
The Company has 14 directors. Two of these is an outside, part-time director who is not from the Company.
The Audit & Supervisory Board is constituted from four Audit & Supervisory Board Members, among these three persons are outside Audit & Supervisory Board Members who are not from the Company, and two of them are part-time service. Two full-time Audit & Supervisory Board Members are the organization which can always inspect directional execution of the duties. Two of four Audit & Supervisory Board Members are familiar with financial affairs and accounting.
In addition, the Audit & Supervisory Board Members share information within the Company by receiving periodic reports from the accounting auditor, reports on the condition of the Company, and other related documents.
The Company is taking the following active initiatives to improve its corporate governance.
- The Company has formed a Disclosure Committee comprising representatives from each of its principal departments with the objective of substantially increasing the accuracy and reliability of information disclosed through the clarification of procedures and other matters related to disclosure.
- To strengthen the auditing functions of the auditing firm, the Audit & Supervisory Board has established its "Policy and Procedures Regarding Prior Approval of Matters to Be Audited and Those Excluded from Auditing."
The prior approval of the Company's Audit & Supervisory Board is required when contracting for the services of the auditing firm according to legally specified contracts.
The Company issues its Business Ethics Guidelines to provide guidance for actions of management and staff, clarify activities that are ethical, forbid conflicts of interest, ensure compliance with relevant laws and regulations, and provide guidelines for disclosure.
As measures to ensure strict adherence to corporate ethical and compliance standards, the Company has prepared rules related to internal notifications and set up a consultation facility (the "Help Line") with the aim of creating systems in which opinions and information from within the Company will be communicated to the proper persons. In addition, the Company has also provided a facility for receiving and responding to inquiries regarding accounting, internal controls, and auditing matters via its Web site.
Code of Ethics
- Honest and ethical conduct; no conflict of interest
- Compliance with applicable laws and regulations
- Full, fair, timely and understandable disclosure
- Accountability for adhering to this Code
- Enforcement mechanism
- Approval for waiver of this Code
Click here to view information about all.